As founder of Select Portfolio Management, Inc. and Select Money Management, Inc., firms focused on designing, implementing, and monitoring portfolios, Amaradio says many families live on one income. Some, he explains, direct a second paycheck toward aggressively paying down debt owed to creditors each month.
-- In 46% of two-parent families, both parents are employed full-time—a 15% increase since 1970. However, business analyst Anthony Joseph Amaradio highlights that living on a single income is still a viable and often beneficial option. "Bringing in two paychecks but spending only one can be incredibly liberating," he explains. "It simplifies the process of getting one’s financial house in order." As the founder of Select Portfolio Management, Inc. and Select Money Management, Inc., which specialize in designing, implementing, and monitoring client portfolios, Amaradio notes that families choose to live on one income for various reasons. "Some are focused on paying down debt by dedicating the second paycheck to creditors," he says. "Others aim to boost their retirement savings or even redirect unused wages toward charitable giving." Amaradio also advises couples who wish to restructure their spending habits to better align with their financial goals and live within their means.
For those considering leaping to live on a single income, Anthony Joseph Amaradio advises that discipline is key. He suggests that small changes in spending habits can reap tremendous savings. People may, for example, pay monthly fees for services they no longer use or that could be obtained free of charge. Because Americans spend as much money dining out as they do buying groceries, cooking meals at home instead of frequenting restaurants will slash food expenditures. Different entertainment options, such as borrowing DVDs from the library rather than springing for movie tickets and popcorn, will also save money. Amaradio suggests that creativity can fuel other lifestyle adjustments and conserve cash. He maintains that virtually everyone has items stashed around the house that could be repurposed, bartered, or traded, thus eliminating the need for additional purchases. Similarly, household expenses that seem set in stone may not be. Amaradio recommends that families review every expenditure and try to negotiate lower rates. Cable television fees and credit card interest rates can be lowered, while shopping for more reasonable auto insurance rates or a health plan that aligns costs with needed services can shave money off of fixed expenses.
When a family moves from dual incomes to a solo salary, Anthony Joseph Amaradio states that communication must be a priority. Tackling a budget as a team and agreeing to make sacrifices in service of a larger goal can bring couples closer together and teach children crucial lessons about the value of money and the importance of cooperation. With proper planning and dedication, Amaradio says that living on a single income is within reach for many families. “It’s simply a matter of making a series of choices that will lead to significant rewards,” he concludes.
In addition to being a wealth management innovator, Anthony Joseph Amaradio is a sought-after presenter who travels the U.S. speaking about advanced market strategies. He and his wife, Carin, are philanthropists and co-authors of the inspirational book, “Faithful with Much: Breaking Down the Barriers to Generous Giving.” The couple assists nonprofit organizations in capacity building and guiding major donors toward becoming more effective benefactors.
Anthony Joseph Amaradio - Visionary & Strategic Philanthropist: http://anthonyamaradionews.com
Anthony Joseph Amaradio - The Best Thing You've Ever Done! on Vimeo: https://vimeo.com/313895972
Anthony Joseph Amaradio - Facebook: https://www.facebook.com/Anthony-Amaradio-580623782054204/
Contact Info:
Name: Anthony Joseph Amaradio
Email: Send Email
Organization: AnthonyAmaradioNews.com
Website: http://www.anthonyamaradionews.com
Video URL: https://www.youtube.com/watch?v=Nz0jAilnkPg
Release ID: 89182544
If you encounter any issues, discrepancies, or concerns regarding the content provided in this press release, or if there is a need for a press release takedown, we urge you to notify us without delay at error@releasecontact.com (it is important to note that this email is the authorized channel for such matters, sending multiple emails to multiple addresses does not necessarily help expedite your request). Our expert team will be available to promptly respond within 8 hours – ensuring swift resolution of identified issues or offering guidance on removal procedures. Delivering accurate and reliable information is fundamental to our mission.
