top of page

Four Small Steps You Can Take To Get Your Finances Under Control

Save $1,000 for an Emergency


This will be the base of your emergency fund while we take care of step 2, which is paying off your debt. This is just the first small step to get you moving, but you'll definitely need more down the line.


Get out of Debt


It is recommended that you pay off your debt from smallest to largest, without worrying about interest rate, just the balance. You can start by listing out all of your debt, while continuing to pay the minimum on everything. Then, put anything you can towards that smallest debt until it is paid off. After that you’ll want to take the amount you were paying on that first debt and roll it into the next smallest debt that you have. Continue down the list until all your debt is paid off. This system really works to get some momentum going since you will feel good with the small wins as you build up to larger ones.


Grow Your Emergency Fund

Whatever you were paying to get out of debt, you’re going to want to start putting that toward your emergency fund. It is recommended to have 4-6 months of emergency funds set aside, in case of an emergency (obviously). It is a good idea to put this in a high interest savings account. My favorite high interest online savings account is Ally.


Saving for Retirement

Most people are going to want to save about 15% of their income for retirement. You could start with a match in your 401(k) if your employer offers that, then you’ll want to look into Roth IRA or Roth contributions in your 401(k) if you have that option.


 
 

Comments


Get expert advice from a local and friendly company. 
CONTACT US
ADDRESS
OFFICE HOURS
PHONE
EMAIL

1804 W Union Ave, Suite 202, Tacoma, WA 98405

Monday to Friday

9:00 am - 5:00 pm

253-327-1177

You can also visit us; we'd love to meet you.
PLF WHITE LOGO 2025.png

Important Disclosures

Equal Housing Lender:
Penny Lane Financial, LLC is an Equal Housing Lender. As prohibited by federal law, we do not engage in business practices that discriminate on the basis of race, color, religion, national origin, sex, marital status, age (provided the applicant has the capacity to contract), because all or part of the applicant's income derives from any public assistance program, or because the applicant has in good faith exercised any right under the Consumer Credit Protection Act.

NMLS Consumer Access:
Our NMLS number is 1905686. WA – MB1905686 AZ – 1034711  You can verify our licensure status and find more information about our company at the NMLS Consumer Access website: https://www.nmlsconsumeraccess.org/ WA – MB1905686 AZ – 1034711

Terms and Conditions:
The loan terms and conditions provided by Penny Lane Financial, LLC are subject to change without notice. All loan approvals are subject to underwriting guidelines and credit approval. Not all applicants will qualify. Interest rates and annual percentage rates (APRs) are based on current market conditions and are subject to change.

Mortgage Loan Information:

  • Loan Types: We offer a variety of mortgage loan options, including fixed-rate mortgages, adjustable-rate mortgages (ARMs), FHA loans, VA loans, and jumbo loans.

  • Interest Rates and APRs: The interest rates and APRs provided on our website are estimates and are subject to change based on market conditions and borrower qualifications. Please contact us for the most current rates.

  • Loan Fees and Costs: Mortgage loans may involve fees, including origination fees, appraisal fees, credit report fees, and other closing costs. These fees will be disclosed to you during the loan process.

Consumer Rights and Responsibilities:
As a borrower, you have the right to receive a Loan Estimate within three business days of submitting a complete loan application. This document provides important details about the loan terms, estimated costs, and other important information. You also have the right to receive a Closing Disclosure at least three business days before your loan closing, which outlines the final terms and costs of your loan.

Homeownership Counseling:
If you are experiencing financial difficulties or have questions about your mortgage loan, you may seek assistance from a HUD-approved housing counseling agency. For a list of HUD-approved counseling agencies, visit the HUD website at https://www.hud.gov/program_offices/housing/nationally_hud_approved_housing_counseling_agenciesdirectory

 

Insurance License:
Penny Lane Financial, LLC holds life, disability, property and casualty insurance licenses in WA and AZ, NPN #17702278. We are committed to providing comprehensive financial services, including insurance products, to meet the diverse needs of our clients. Regulated by Washington State Insurance Commissioner at https://www.insurance.wa.gov/

Privacy Policy:
We are committed to protecting your privacy and ensuring the security of your personal information. For details on how we collect, use, and safeguard your information, please review our privacy policy here.

Contact Us:
If you have any questions or need further assistance, please do not hesitate to contact us at 253-327-1177 or email to vip@pennylanefinancial.com.

Penny Lane Washington

Check us out  

Penny Lane Financial, LLC NMLS #1905686 WA State, NMLS #1034711 AZ State

 

  • Instagram
  • Facebook
  • LinkedIn

NMLS Consumer Access - click here

EQUAL HOUSING LENDER

 

All Rights Reserved © 2017 - 2024 Penny Lane Financial LLC .

bottom of page