Stacy’s Savvy Financial Advice
Stay Savvy with our founder Stacy Francis’ latest articles on financial planning, budgeting, debt management, investing, divorce, retirement planning, and more.
Stacy Francis founded Savvy Ladies® in 2003 with the mission to educate women about their finances and empower them to make proactive choices. Inspired by her grandmother who stayed in an abusive relationship due to financial reasons, Stacy has been determined to never let another woman become powerless by financial instability.
Get the resources, knowledge, and tools you need to make smart and informed decisions about your money and your life.
In addition to being the Founder and Board Chair of Savvy Ladies®, Stacy is the President, CEO of Francis Financial, Inc., a boutique wealth management and financial planning firm. A nationally recognized financial expert, she holds a CFP® from the New York University Center for Finance, Law, and Taxation, and is a Certified Divorce Financial Analyst® (CDFA®), a Divorce Financial Strategist™ as well as a Certified Estate & Trust Specialist (CES™).
Stacy has appeared on CNBC, NBC, PBS, CNN, Good Morning America, and many other TV & Financial News outlets. Stacy too is ofter sought out for her advice and can be found quoted in over 100 publications such as Investment News, The New York Times, The Wall Street Journal, USA Today. She shares her wisdom and expert financial advice here for you to learn and get savvy about your finances.
Financial Knowledge is Power. Be Empowered and Find the Advice You Deserve.
Know that Savvy Ladies® is here for you! Should you like to seek advice on a personal financial question, please visit our Free Financial Helpline and get matched with a pro bono financial professional, click here.
STACY’S $AVVY ADVICE
Maximize your cash flow
by Stacy Francis, CFP®, CDFA
A client came into my office today, worried about how in the world she’s supposed to set money aside for retirement, when she is living paycheck to paycheck. A highly relevant question, I’d say. Because let’s face it. No matter how savvy an investor you are, or how genius your financial planner is, if you don’t have money to invest, none of that is going to matter. And while a lucky few receive huge sums of money at an early age, for the grand majority of us, this money is going to come from employment and/or business endeavors. So what are the best ways to maximize your earnings?
Well, the first, obvious one, is to chose a lucrative career. You are more likely to make the big bucks as a doctor than as a nurse, and as a lawyer than a paralegal. But for those of us who have already chosen a profession and completed the education, there are plenty of ways to make the best out of it, such as
1. Being a fierce negotiator. If you can make yourself indispensable to the company you work for, you will find yourself in an ideal situation for negotiations. Be tough – although not ruthless or rude – and you just might find yourself with a bigger paycheck.
2. Playing the field. Even if your boss is not willing to raise your salary, chances are another company will value your skills more. Keep your eyes and ears open, and a better opportunity may fall into your lap.
3. Having a side business – or going out on your own altogether. Only you can determine when the time is right for this, but if you play your cards right, you may be able to multiply your income.
4. Scoring some investment income. It is no secret that many people made a killing in real estate a couple of years ago. Other people make it big time from trading art. For creative and hungry investors, there will always be interesting opportunities out there.
Get creative. The more money you make, the more money you can invest, and the brighter your future will look.
Save Money on Taxes
by Stacy Francis, CFP®, CDFA
Tax refunds are finally here! While I didn’t receive one myself (people in my business rarely do), many of my clients did, and many chose wisely – they decided to invest at least part of the money. In order to help you score a refund (or if you get a refund, to help you get more next year), here are a few things you may not know you can deduct.
-
College tuition expenses. As long as you’ve kept the receipts from your payments and the school is bona fide, you can save quite a lot this way
-
Charitable donations. This deduction is not just available for the organizations that pop up toward the end of your filing when using FreeTaxUSA, but it applies to a wide range of causes and organizations. Find one that makes your heart beat a little faster, and save yourself money while saving the whales.
-
Car mileage and expenses. The many of you who commute to your place of employment can feel a little better about all that money you burned at the pump.
-
Out-of-pocket medical expenses. Had to go to the emergency room, and had a fallout with your insurance company about eligibility? You are not alone, and now you can get some of your money back – hopefully easing the pain a little.
-
In certain situations, you can deduct numerous expenses related to job hunting. So if you are sending our resumes and interviewing, don’t toss your receipts!
-
Childcare is, thankfully, many times tax deductible.
While this list is far from complete, it should provide you with a nice starting point for paying less taxes.