How the 50/30/20 budgeting rule works—and can help simplifying how you spend money

Faron is a frequent guest on Chicago’s WGN-AM’s Wintrust Business Lunch Show, where he engages in insightful discussions with host John Williams about the latest news and trends focused on the economy, financial markets, and their impact on everyday consumers. Click below to listen to his b …

Becoming a caregiver for a family member is rarely a responsibility that people are financially prepared to undertake. Adult children of aging parents are often thrust into a position of taking parents to medical appointments, providing financial support for unexpected illnesses, or managin …

The consumer often takes the spotlight in the fourth quarter as the holiday shopping season approaches. This focus seems particularly relevant today as the market adjusts to higher interest rates. So far this year, the consumer has shown remarkable resilience, driving better-than-expected e …

Following a tough year in 2022, when investors could not catch a break amid unrelenting macro headwinds, the equity market momentum in 2023 has been a welcome reprieve. The U.S. market has led the way, with the Russell 1000 posting healthy year-to-date gains through the end of August. Globa …

Harrison Wallace Financial Group, a leader in financial planning and investment management, today announced its expansion with the opening of a new office in the Cummins Station building at 209 10th Avenue South in the heart of Nashville. With a new space in one of the fastest growing citie …

Faron Daugs, Certified Financial Planner™, Wealth Advisor, Founder & CEO at Harrison Wallace Financial Group  The markets overcame significant hurdles in the first half of 2023, providing investors with renewed optimism for the rest of the year. Conditions such as the resolved debt ceil …

With the S&P 500 hovering 9% below its early January high, financial advisors are reviewing client portfolios to be sure allocations remain within corridors determined by financial plans. The Russian attack on Ukraine caused additional volatility in markets, with stocks declining sharpl …

Inflation has risen to levels not seen in decades. According to the Personal Consumption Expenditures measure, which the Fed uses as an inflation level gauge, the country saw a 6.2 percent increase over the year through August, far outside the Fed’s two percent typical target. Inflation imp …

Each one of us starts out with a unique set of advantages and disadvantages, but self-made millionaires are people who reach high levels of wealth without the help of a large inheritance or trust fund. Self-made individuals start from scratch and build their wealth over time, beginning firs …

Having a household budget can help you stay on top of bills, pay off debt, save for retirement, and achieve other long- and short-term financial goals. But there are many ways to go about it. One popular budgeting option is to follow the 50/30/20 rule, which requires you to allot a designat …