It’s time for the next session of AwesomeHours: this time with couples financial coach Ann Arceo. Ann is young, friendly, and bursting with knowledge to help young couples and newlyweds figure out how to plot their financial futures together. Read on to learn more about how Ann got her start in the world of personal finance!

Enter now to win a free chat with couples finance coach Ann Arceo!

Interview with Ann Arceo

Q: How did you get started as a financial planner?

I started working in the financial planning industry about 6 years ago. I worked for a firm whose clients were mainly wealthy retirees. It was a great experience, but I also felt like something was missing. Shortly after I got married, my husband and I volunteered to give a talk about money to newlyweds at our church. That’s when I realized that I wanted to work with young couples who are just getting started on their financial journey. I decided to open my own financial planning firm, Savvy Duo Financial Planning, Inc. I focus on helping couples in their 20s, 30s, and 40s to successfully manage their finances together and reach their financial goals.

Q: What is a typical situation you help your clients with?

A typical situation that I help clients with is helping them implement a budgeting system that is easy to follow so they can make progress on their financial goals. I also often help couples with making a plan to pay off debt, starting to save for retirement, and investing for the future.

Q: Do you have any favorite stories of your client reaching success?

I worked with one couple in their early 30s that had several thousand in credit card debt and little in savings. I could tell, however, from the first time I met with them that they were ready to change. We reviewed their monthly spending, created a debt repayment plan, and discussed how to simplify their finances.

They owned a business that they ran out of their home. The business finances were mixed with their personal finances, and the lack of a system was causing frustration and confusion. The first thing we did was separate their business and personal spending. We also created a budget for their business and a separate budget for their household.

Once they had an organized budget to follow they started making good progress on paying off debt and saving. They told me during one of our sessions that they finally felt like they were on the same page financially and that there was less tension in their marriage. My number one goal is to help clients decrease their financial stress so that they feel in control of their money and their ability to reach their goals.

Q: What are your top 1-3 tips for people who want to make a positive change in their financial lives?

The first step I always recommend is to face your finances and find out where you’re actually at financially. It may sound simple, but most clients I meet don’t know the numbers like how much they actually have in debt and how much they spend every month compared to their income.

Another tip is to be realistic about how much your lifestyle costs and find ways to decrease your expenses. If you’re constantly using credit cards for everyday non-emergency purchases, then there is a good chance that you’re living beyond your means. Be honest with yourself, and take a good hard look at your monthly bills and expenses. Do you really need cable or could you make use of online video streaming? Do you really use your gym membership or could you go jogging at your local park? Get creative and cut back wherever you can.

The last tip I would recommend is automating your financial life. Set up automatic bill pay through your bank and have your bills paid as soon as you get paid. Set up an automatic transfer to your savings account and have the transfer also coincide with your payday. If your bills and savings are taken care of automatically, you will know that what’s left in your account is money you can spend without feeling stressed. It will help you to not overspend.

Win AwesomeHours with Ann Arceo

Want to have a video chat with Ann so you can get your financial life in order? We’re giving away six ten minute slots this Saturday, April 26 at noon Pacific Time. Enter here by noon PT on Thursday April 24, telling us more about the financial goals you’re hoping to reach in the near future. We’ll contact the winners by noon on Friday, April 25.

Spots are limited, but we’re not letting anyone leave empty handed. After the AwesomeHours session is up, we’ll email you Ann’s top tips from the session and more. So the more specific you are about your goals, the more targeted her advice will be!

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