Put your bill planning in order with these tips from financial experts.
The holiday credit cards will be soon be due and with a New Year it's time to get finances in order. Instead of getting overwhelmed by trying to figure out best ways to pay off your bills, we asked our financial experts to share their tips on how to manage bills. Find out what they have to say in order to ease the pain of organizing bills and getting ready to pay them off.
"There are a number of programs that will help you budget your finances, but the best advice is to be realistic and plan for emergencies."
Mary Anne's Advice
"This is another one of those areas where you look at what matters to you. Use an approach that works for you. Put monthly bills on automatic pay. Set aside money monthly for non-monthly bills. Set aside savings for wants such as vacation. Pay yourself first means save before spending on your wants. Have an emergency fund, so that when extraordinary bills raise their ugly heads, your budget is not destroyed."
When managing bills and a house hold, knowledge is power. I know what is coming in and I know what is going out. If there is too much going out versus coming in, I will sit down and take a long hard look and see what is a need and what is a want."
"Create a budget. Also, set-up automatic payments to avoid late fees."
About the Experts
Scott Shellady began his fiscal vocation in 1990 as the European Managing Partner of Prime International Trading London. He continued his career overseas with high-level positions at Muirpace Ltd, Deutsche Bank AG, and was Managing Director of Futures Operations in London for The Industrial Bank of Japan. Mr. Shellady was integral in building a technology company for electronic futures trading called Patsystems Plc. After 11 years in London, Mr. Shellady returned to Chicago to run the family commodities business that was started 40 years ago. Currently, Mr. Shellady is a CEO of Bradford Capital Management. He is a frequent contributor on CNBC, Fox Business News, Bloomberg and Sky News.
Mary Anne Ehlert is the founder and president of Ehlert Financial Group and Protected Tomorrows, Inc.. She is a dynamic financial expert with more than 25 years experience in the industry, focusing on divorcing and single women as well as widows and families with special needs. Personally and professionally, she knows how caregivers should plan and has shared her expertise with the New York Times, Chicago Sun-Times, and Investors Business Daily. She is a sought-after speaker at national women's, financial, and disability conferences. Find her at Ehlert Financial Group.
Liz Dierking is a co-host of of The LIZ & JNY Show. She has spent eleven years on the Chicago Board Options Exchange floor making markets. During this time, she also acted as a Designated Primary Market Maker, Floor Broker, and Floor Official. She also represented her firm on the Market Performance Committee before joining the TastyTrade Financial Network. After leaving the trading floor in 2010, Liz picked up improvisational comedy as a hobby. She learned to merge her passion for finance with comedy and entertainment. She teaches strategies that give viewers an increased probability of success with a decreased capital requirement.
Jenny Andrews, host of The LIZ & JNY Show, brings six years of trading experience to the tastytrade Financial Network. Beginning her career at the Chicago Board of Options Exchange (CBOE), she was the quickest clerk to move to a market maker seat. Jenny has traded in seventeen pits on the CBOE trading floor and was appointed instructor of an Options Theory Course for one of the nation's largest trading firms. This experience gave Jenny the knowledge to leave the trading floor, trade for herself, and share her expertise with others interested in investing, even if intimidated by the seemingly complex endeavor. Jenny joined Liz Dierking in 2011 to co-host The LIZ & JNY Show where she teaches simplified strategies to novice and experienced traders to take the fear out of investing. The LIZ & JNY Show airs live Monday through Friday from 11:00am CST at TastyTrade.