Finance expert shares advice on saving money on a reduced income

Finance expert shares advice on saving money on a reduced income

Many people are trying to move money around to make ends meet.

Alec Bethurum, senior portfolio manager at Sterneck Capital Management, said there are quite a few ways for people on a reduced income to cut spending.

AND OUR EFFORTS TOHELP YOU MAKE ENDSMEET.THOSE UNEMPLOYMENTNUMBERS SHOW JUSTHOW MANY PEOPLE ARETRYING TO PAY BILLS ON AREDUCED INCOME.41 ACTION NEWSREPORTER EMMA JAMESTALKED TO FINANCIALEXPERTS FORRECOMMENDATIONS ONWHAT BILLS YOU MAY BEABLE TO PUSH BACK.EMMA JAMES, REPORTING"A LOCAL FINANCIALADVISOR SAYS THERE AREQUITE A FEW WAYS YOUCAN CUT SPENDING IFYOU'RE ON AN EXRA TIGHTBUDGET.

A GOOD PLACETO START ISENTERTAINMENT ANDRESTAURANTS.ALEC BETHURUM, SENIORPORTFOLIO MANAGER,STERNECK CAPITALMANAGEMENT"You cut those out and youactually have some decentsize incremental savings."ALEC BETHURUM WITHSTERNECK CAPITALMANAGEMENT SAYSTHOSE WITH REDUCEDINCOMES SHOULDCONSIDER MORTGAGEDEFERRALS, AND REACHOUT TO UTILITY ANDINSURANCE PROVIDERS TOSEE WHAT HELP THEY CANOFFER.ALEC BETHURUM, SENIORPORTFOLIO MANAGER,STERNECK CAPITALMANAGEMENT'Make sure you're takingadvantage of all the programsthat are available."FOR LINDSEY WRIGHT -MONEY IS TIGHT SINCESHE WAS LAID OFF INMARCH.LINDSEY WRIGHT, LIVES INKANSAS CITY"Every purchase has been isthis an absolute necessity."SHE'S BEEN WAITING ONHER KANSASUNEMPLOYMENT BENEFITSFOR THE LAST TWOMONTHS.LINDSEY WRIGHT, LIVES INKANSAS CITY"Very, very stressful, I wouldsay it's caused a lot ofanxiety."SHE FINALLY GOT HERSTIMULUS CHECKWEDNESDAY.SHE'LL USE SOME OF THEMONEY TO FIX HER CARAND SAVE THE REST.BETHURUM SAYS TIMESLIKE THIS SERVE ASREMINDER OF THEIMPORTANCE OF SAVING.A GOOD GOAL TO REACHFOR -ALEC BETHURUM, SENIORPORTFOLIO MANAGER,STERNECK CAPITALMANAGEMENT"About two months of sayliquid income just set aside ina bank account so not evensomething that's invested butjust there available.IF YOU HAVE THE MEANS -HE RECOMMENDSINCREASING YOURRETIREMENTCONTRIBUTIONS BECAUSEYOUR EXPECTED RETURNSWILL BE A LOT BETTER.IN KANSAS CITY, EM