Karen C. Vining
Registered
Financial Consultant
Vining Financial
Services,Inc.
4994 Lower Roswell Road NE
Suite 4
Marietta,Ga 30068
PH:(770) 971-9141
FX:(770 971-4224
vfs@ViningFinancial.com
Securities Offered
Through Triad Advisors,Inc.
Member FINRA/SIPC

Amateur Hour

Could you save money on a home improvement project by doing it yourself? It may depend on your skills and the type of work involved. Before you decide to tackle a major project, do your research. Hiring a pro may cost you less in the long run, especially if the project involves any of the following issues.

Safety. Working with electricity or natural gas includes the risk of electrocution, explosion, fire, or carbon monoxide poisoning. Falling is a danger with roofing and other projects involving heights. And improperly used power tools can cause serious or even fatal injuries. Unless you have experience, hire a professional for these jobs.

Specialty tools. If you plan to buy or rent tools, do you know how to use them? If not, you could ruin expensive materials purchased for the project.

Size. For large projects — remodeling a kitchen, for example — think about hiring a professional for the major portion and adding the finishing touches yourself.

 

 
 
VOL. 17, NO. 5
September/October 2010

What Has Your Budget
Done for You Lately?

A budget won't make you dinner or take out the trash. It can't program your DVR or download songs to your MP3 player. It will never do your laundry.

What a budget will do is help you keep your finances in shape and your spending under control. But your budget occasionally requires a little TLC to make sure it's working. By periodically reviewing your spending plan, you can make any changes that are needed to stay on track.

The Right Fit?

You probably chose specific categories, such as housing, car payments, utilities, etc., when you created your spending plan. Over time, these can change. You might pay off your car loan, for example, or buy life insurance coverage. A review will give you a chance to add new expenses and eliminate old ones.

 

The amount of money needed in each category can change, too. An increase or decrease in your auto insurance premiums or property taxes or other changes in your payments may provide good reasons to revise your budget to reflect the new amounts.

A Realistic Picture?

Knowing how much you actually spent on food, cable, cell phone, and other bills during the past year can help you adjust your budget. Review your checkbook register and the debit transactions on your banking statements to get an accurate picture of where your money went. Then, use this information to find places to save.

What About Income?

A pay increase, a bonus, or an income-tax refund may bring in money you didn't count on. Consider earmarking a portion of it for contributions to your investment and retirement accounts. If you've recently paid off a loan or credit card balance, think about adding the old monthly payment amount to your savings.