Jameson Van Houten’s Top Tips: 50-30-20 Rule of Thumb

Jameson Van Houten, Partner and Managing Director of Beacon Pointe’s Scottsdale, AZ office, reviews some simple strategies to kickstart your savings plan and build your wealth while keeping both your physical and mental health in check.

We get it. You haven’t created a budget because you had to go to your friend’s dog’s birthday party. Feel free to insert your additional excuses here. Living by a budget does not necessarily mean that you have to spend less. It’s about knowing where your money is going, and knowledge is power. Once you identify your money trail, you will know if you are staying true to your financial values.

One way to know if your spending habits are healthy is to see if they follow the simple 50-30-20 rule. This rule is a simple budgeting tool to track your spending and ensure that you not only know where your money is going but also to balance out the spending scale between needs and wants, while still saving for an emergency or for the future.

We’ll make it simple…

Watch the below video for an easy way to see if your spending habits are healthy.

Another way to be a better saver is to be proactive with your time and your budget. Be proactive about your personal health. Jameson notes how preventative check-ups with your doctor can help you plan for any unexpected health problems. These of course, tie in with your health insurance, which also requires an annual check-up. Van Houten suggests getting these appointments out of the way early in the year to better plan for any emergencies that might arise.

1. Keep an eye on food prices. With inflation rates rising, the grocery store is one good place to implement your budget. Jameson asks, are there any non-essential items that can be removed from your grocery list without any difficulty? Any foods that are sitting in your fridge or pantry uneaten, that you can skip out on to avoid waste?
2. Keep your credit card debt low. Although it may be tempting to let your debt build up, Van Houten suggests paying off your balances entirely, if possible, to avoid any unnecessary card or interest rates.

To get more detail on Jameson Van Houten’s tips to start your sensible savings plan, visit the link below!

https://www.youtube.com/watch?v=VaPJA70qdNM&ab_channel=TED

About Jameson Van Houten:

Jameson Van Houten and his team recently joined Beacon Pointe Advisors in a 2021 acquisition, further expanding the Beacon Pointe presence in the Grand Canyon state and bringing another $430M to its growing AUM. As the founder and sole owner of Stonegate Capital Advisors, Jameson was brought on as a Beacon Pointe Partner and Managing Director – one of six in the Scottsdale area.

Jameson Van Houten has nearly twenty years of experience in the financial services industry. He founded Stonegate Capital Advisors in 2002 and built an impressive wealth advisory business based on deep roots and organic growth. Jameson leads an experienced and knowledgeable team serving a niche clientele base, not only in Arizona but also across numerous other states. The team’s specialties and services as Stonegate Capital Advisors included business, estate, and tax planning, as well as asset protection planning. Jameson and his team looked to merge with a larger firm like Beacon Pointe to expand upon the services they could offer their clients while also providing additional growth opportunities for employees.