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Darcy Bergen leads a staff of financial professionals as the president of financial planning firm Bergen Financial Group. Through his company, Darcy Bergen helps clients with various aspects of financial planning, including lifestyle management.
Lifestyle management involves making smart financial decisions to sustain or enhance an individual’s status of living. Some strategies for effective lifestyle management include:
– Structuring a suitable mortgage plan. Paying for a house is a long-term commitment that affects an individual’s lifestyle. Depending on financial resources and stability, a person can opt for a 15-year or 30-year mortgage, with a fixed or variable rate. Each of these options has advantages, depending on each person’s unique situation.
– Prioritizing necessity over luxury. Most people dream of owning luxury vehicles, but not all can afford one. Although buying luxury items can be considered an investment, the money can be used instead for basic necessities or other income-returning investments.
– Taking smarter vacations. To save on vacation expenses, individuals can consider cheaper alternatives, such as staying at a condo rather than a hotel, preparing their own meals on a trip, and booking cheaper flights far in advance.
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