Manage Your Monthly Expenses With These Simple Tips

monthly expensesUnfortunately, learning how to manage your finances or monthly expenses isn’t a course usually taught to us in school. We have to learn as we go — often through trial and error (emphasis on the error). If you’re struggling to stick to a budget or find a positive balance in your bank account every month, here are some simple tips and tricks to help get you back on the right path.

  • Keep Track of Everything You Spend
    The first step to financial management is to become conscious of where your money goes every week. For a few months, keep careful track of every dollar you spend, whether it’s on rent, food, entertainment, or car payments. You may be surprised at your own results. Getting an idea of your current monthly expenses will help you find ways to cut down on unnecessary spending.But, be honest, if you don’t think you’ll actually keep track, there are a number of apps that will keep track of all your spending habits for you.
  • Find Ways to Make Cuts
    Once you have the data, take a good hard look at your spending habits to find small changes you might make that could lead to big savings. For example, bringing your lunch to work is a lot more cost-effective than eating out every day. And do you really need subscriptions to cable, Netflix, Hulu, and HBO GO all at once? Perhaps shop around for a discount gym membership. More than 40% of American families spend more than they earn; don’t be one of them.
  • Set a Goal
    While you might want to save up for a new house or car, your first goal should be getting out of debt. There are an average 3.5 credit cards for every person in the U.S., and Americans collectively owe over $11.9 trillion in debt payments. While paying off that credit card debt or student loan payment may seem like an impossible task, finding ways to reduce debt will help free up the rest of your money in the long run.

Managing your monthly expenses doesn’t have to be like pulling teeth. More often than not, simple awareness of your spending is enough to evoke change. While setting and sticking to a budget is a challenge, it’s one that will benefit you in the long run.

You can take control of your financial situation with a little bit of planning and willpower.

Financial Management Advice for Surviving on a Budget

financial management

Financial experts and political pundits alike say that we’re slowly making our way out of the Great Recession, but many Americans today are still struggling financially to make ends meet.

The numbers can be deceiving: while overall household income has increased by 26% over the past dozen years, the actual cost of living has gone up by 29% during that same period of time. It can be difficult to plan — much less stick to — a budget when you’re already living on limited resources, but a sound financial management plan will help you make the most out of your money.

Here are just a few small pieces of advice to set you on the right track.

  • Reduce Debt
    Credit cards and loans are a very useful way to help cover costs and make investments when you don’t have the money for purchases up front, but in the long run, they can cost you more than they’re worth. Americans pay an average $950 every year just on interest payments. The best way to reduce your overall costs of spending may just be getting out of debt as quickly as you can.
  • Plan Your Meals
    Successful financial management comes through sweating the small stuff. When you plan out your grocery shopping to meet your meal plans for the week, you’ll be less likely to make impulse or unnecessary food purchases, both at the supermarket or at restaurants. Those small daily savings can really make a difference over time.
  • Think Green
    There is a strong movement across the country towards making eco-friendly decisions about how we use energy and fuel. But the decision to make small choices to reduce energy use can also save you bundles of money. You can shave tens of dollars off of monthly expenses simply by switching to high-efficiency lightbulbs, or keeping the thermostat set just a few degrees higher in the summer or cooler in the winter. You might even consider ditching the car to bike to work!

No matter you current situation, there are ways to take control of and manage your finances now before it’s too late. Some 40% of American families routinely spend more than they earn — don’t get to the point where debt rules your life. Simple financial management now can give you long-term peace of mind.

Making an Investment: Let Your Money Work For You

making an investment When you find yourself in a cash windfall — whether it’s from lottery winnings, a structured settlement payment, or from selling your annuity — it’s easy to know where to start spending. You can buy that new car or make the down payment on the house you’ve always dreamed of. Or maybe your starting goals are even more modest, like simply paying the bills on time, which 26% of all Americans have a difficult time doing every month.

But let’s say you’ve got your initial bases covered. The bills are paid; the car’s in the driveway of your new home. What now?

This is often the time people fall into lavish or unnecessary spending. There’s nothing wrong with splurging on a new wardrobe or treating yourself to some fancy dinners. But what most people with cash settlements fail to take into account is that there is a limit to their money. You can’t maintain a high lifestyle for very long without a continuous stream of income to back it up.

A study from the Rutter Group indicates that 25 to 30% of accident settlement recipients wind up using all of their funds within two months of recovery. At least 90% will use everything up within five years. What then?

A simple way to make sure that your income lasts is by making an investment with the remainder of your settlement. Money breeds money! Here are just a few suggestions on how:

  • Stocks and Mutual Funds: When we hear the words “investment,” the first thing we tend to think of is the stock market. You don’t have to be a wolf to play on Wall Street. Mutual funds are a safer way of making an investment in many different stocks that investors expect to increase in value.
  • Pay Off Debt: Gifting yourself a debt-free future really is a form of investment. The average in-debt household owes a total $129,579, of which $15,355 is from credit cards alone. By paying that off now, you save yourself a lot of interest rate fees down the line.
  • Business: Become a partner in a new company or start one yourself. While this is a much riskier form of investment because so many companies may go out of business, it can also be a way to self-provide a fulfilling career for years to come if you succeed.

Making an investment isn’t really about getting rich quick. It’s about giving your money time to grow. Choose a future to help you maintain the lifestyle — the house, the car, the bills, and the fancy dinners out — that your settlement has given you.

Long Island Man Wins Jackpot — Twice!

invest your moneyThey say that your odds of winning the lottery are less than your chances of getting struck by lightning. But for one man in New York, lightning struck twice.

Bruce Magistro of Long Island recently scratched off a $1 million prize on a lottery ticket. That would be enough to make anyone ecstatic, but in Magistro’s case, it’s especially mind-blowing. It’s the second time he’s won a million-dollar jackpot in four years. The first was from a $5 scratch-off in 2012. The second, a $2 win-for-life card in May.

Lotteries are the most prevalent and popular form of gambling across the United States. How would you invest your money if you won — twice?

For Magistro, both of his winnings came at crucial times of financial challenges. His first win in 2012 from a $5 Extreme Cash card gave him an annuity of $33,090 per year — enough to allow him to stay home and care for his wife, who died of cancer shortly thereafter.

Medical expenses alone can be overwhelming; in fact, 20% of all credit reports are damaged by overdue medical bills. As much as 35% of the population — some 64 million people in the United States alone — reported a struggle to pay medical bills or debt payments on time in 2014.

For Magistro, that hopefully won’t be much of a problem. Though the 48-year-old will continue to receive his $33,090 lottery payments through the year 2031 — in addition, now, to his $1,000 a week for life from his winning $2 scratch off — “you can’t retire on that,” he said to the New York Post.

Magistro works in construction (and yes, he still keeps his day job), but said business has been slow recently. He is also a widowed father of three.

Of all the different ways to invest your money or spend your lottery winnings, Magistro’s new plan may be the sweetest: he plans to marry his new fiancee.

Magistro will receive a check for his new winnings two years to the day after his first wife passed. “I think there is some kind of divine intervention here,” he said.

6 Reasons to Sell Your Structured Settlement

structured settlement annuity

These are dire times financially for a lot of Americans. One study showed that the average American owes about $3,700 to various credit lenders, and student loan debt is up to a mind-blowing $1.3 trillion in the year 2015. Auto loans add up to an outstanding balance of $934 billion dollars this year, up from $866 billion in 2014. It is estimated that the total debt owed by Americans is up to almost $12 trillion.

The point is that people need all the money they can get their hands on. If you are a recipient of a structured settlement annuity payment, sometimes those payments aren’t enough to cover the costs you need to cover. The good news is that you don’t have to wait on receiving money that is rightfully yours in payments over time — you can get settlement money now by selling an annuity settlement and receiving the money in one lump sum.

So why should you sell your structured settlement annuity? Read on for some points to consider.

    • The money belongs to you. You’re not borrowing against something, it is rightfully yours.
    • Life changes quickly and circumstances can quickly arise that may require you to increase your cash flow.
    • Think about everything you could do with that money if you had it all in one lump sum. You could buy a car and avoid the payment, eliminate payments for student loans, have a down payment on a house, or take the vacation of your dreams, among hundreds of other options.
    • Invest in yourself — sometimes in order to take the steps necessary to change your life for the better, like going back to school or starting a business, you need a little financing.
    • You don’t have to sell the whole thing. You can sell a portion of it and still receive payments in the future. There are many options depending on your situation.
    • It’s not difficult to do. Professionals like us do this every day and know exactly how to get you your structured settlement annuity cash quickly.

Still not sure? Contact us and one of our representatives would be happy to help you!

Special Olympics Miami-Dade County Hosts its Annual “Sponsor an Athlete Awards Dinner”, 123 LumpSum Title Sponsor

HALLANDALE, FL SEPTEMBER 25, 2013- Located in South Florida, specialty finance company 123 LumpSum, was the title sponsor for Special Olympics Miami-Dade County’s largest annual event held at the prestigious La Gorce Country Club in Miami Beach.

The “Sponsor an Athlete Awards Dinner” brings together Special Olympics volunteers, families and supporters for an evening to honor the coaches and athletes for their hard work year-round. For each ticket purchased, a Special Olympics athlete’s training and competition will be sponsored for a full year. The night was hosted by Miami Herald columnist and Pulitzer Prize winner Dave Barry while Grammy nominated Miami-based band The Spam All Stars provided music and entertainment.


Held at one of the most prestigious venues in South Florida, the event attracted a crowd that included Miami’s finest.  Guests such as DJ Irie, Baseball Player Chris Duffy and former American soccer player, Joe Max Moore were all in attendance.  The evening included a cocktail hour, seated meal and a silent auction featuring items donated by businesses all throughout Miami.

Linsey Harris Smith, Director of Special Olympics Florida – Miami-Dade County said: “The Awards Dinner is our opportunity to applaud the achievements and impact that these Athletes, Coaches, Volunteers and Community Partners have had, in inspiring the lives of so many in Miami-Dade County.  We extend our heartfelt thanks to everyone that helps to sustain the Special Olympics mission”.

Some of the evening’s sponsors included Publix, Presenting Sponsor Wells Fargo Advisors, LLC and Media Partner Miami Herald.

Andrew Savysky, President of 123 LumpSum said:  “I am honored to be a coach and mentor for an amazing Special Olympics’ runner who is currently training for competition in the National Games.  Running each week with Nasif has helped me see that people with intellectual disabilities can and do have incredible athletic “abilities” to perfect.  Unified sports through Special Olympics is the perfect medium for athletes of all abilities to partner in sports training together, push past obstacles, and achieve mutual personal goals!  So proud to be a part of it”.  See this video from the Awards Dinner event:


The mission of Special Olympics is to provide year-round sports training and athletic competition in a variety of Olympic-type sports for children and adults with intellectual disabilities, giving them continuing opportunities to develop physical fitness, demonstrate courage, experience joy and participate in a sharing of gifts, skills and friendship with their families, other Special Olympics athletes and the community. Visit or  to learn more.

About 123 LumpSum- Located in Hallandale Beach FL, 123 Lumpsum is a specialty finance company that applies institutional financing, underwriting and legal expertise to purchase future cash flows (structured settlements and insurance annuities).  For more information about 123 LumpSum, please visit

Its finally here the 9th annual DJ Irie weekend

It’s finally here the 9th annual DJ Irie weekend. One of Miami’s favorite charitable events, Irie Weekend raises funds to empower young adults and assisting them on their paths to obtaining a higher education.The foundation hosts numerous fundraising events each year, and proud Sponsor 123Lumpsum has donated to this great cause.

The 9th Annual Irie Weekend will be held June 27-29, with events taking place at some of the most well known venues in Miami. There are plenty of fun things to do in thisstar-studded series of charity events featuring: Heat players, other pro athletes, actors, supermodels and musicians. The invited VIP guest list includes Jamie Foxx, Wilmer Valderrama, Pitbull, Michael Strahan, Nicole Murphy, Chris Kirkpatrick, Jonathan Vilma, Eddie Jones and more.

The action-packed weekend began This Thursday with the VIP kickoff Reception at Hyde Beach.

 If you couldn’t make it Thursday don’t worry, Friday DJ Irie keeps the fun going with a celebrity golf tournament at the Miami Beach Golf Club (2301 Alton Rd.) and at Night at LIV Nightclub for a high-energy concert with Miami’s hottest entertainers.

 Saturday DJ Irie and friends will head to Lucky Strike from 6-9 p.m. That same nightIrie Weekend ends at Mokai on 23rd Street in Miami Beach.

 The Irie Foundation, founded by South Florida celebrity DJ, DJ Irie, works year round toward empowering young adults and assisting them on their paths to obtaining a higher education.

About the Irie Foundation

The Irie foundation, located in Miami, FL, seeks to inspire at-risk youths in South Florida to develop into successful adults. The foundation assists middle school and high school aged students with their educational goals and scholarship opportunities. For more information, please visit

100 Most Outstanding woman OF Broward County


On May 16th the Broward Boys and Girls Club recognized our very own Patty Asseff for being one of the 100 Outstanding Women of Broward County. This event was to celebrate the accomplishments of inspiring women from different backgrounds that have contributed to the community of Broward County. The night was dedicated to recognizing these elite women for their career achievements, philanthropy, nonprofit advocacy, and volunteerism. The audience, filled with the Who’s Who of South Florida, enjoyed drinks, a silent auction and dinner. 123lumpsum would like to recognize all these outstanding women for being role models to the Broward Community and thanking them for their outstanding work.

2013 Honorees
2010, 2011, 2013 Alfonso Rixys 2013 Harrison Carol
2009, 2010, 2013 Alters Rachel 2013 Hatcher, CPO Diane A.
2013 Alvarez Vineta Susan 2013 Heyder Amanda
2012, 2013 Anderson, MSW Laurina 2013 Hirsh Fran
2013 Asseff Patty 2013 Holshouser Courtney
2013 Balaban Cheryl 2013 Homoky Michelle
2013 Beck Shelley 2013 Hooper Aimee
2013 Bianchi Tracht Debroah 2013 Ingraham Jenna
2013 Blanco Linda 2010, 2012, 2013 Janssen Alexandra T.
2012, 2013 Bolitho Linda 2009, 2010, 2013 Jenkins Tera
2010, 2011, 2012, 2013 Bonville Claudette 2013 Jennings Gail
2013 Burnette Barbara 2013 Johnson Elaine
2013 Calvert Mary 2013 Kerr Lana
2012, 2013 Camasso Barbara 2013 King Dr. Elizabeth
2013 Campbell Dr. Kate 2013 Klotz Macy Kristi
2013 Cannon Kathleen 2013 Little Jennifer
2013 Chapman Lydya 2010, 2011, 2012, 2013 Loehr-Chrysler Angela
2013 Clark Lyn Jasper 2013 Lovitt Alyssa
2013 Cohen Jennifer 2013 Lukasik Linda
2013 Cole Juanique 2013 Mallet Brenda
2013 Cremer Debbie 2013 Marino Lois
2010, 2011, 2012, 2013 D’Auria Ann 2013 Markham Dana
2013 DeStasio Linda 2013 Marotta, Ph. D Priscilla
2009, 2010, 2012, 2013 DiMarco Michelle 2010, 2012, 2013 Mastriana-Solal Alexandra
2013 Donnelly Cathy 2013 Mayersohn Leah
2013 Duncan Ellis Eugenia 2013 Miceli Lisa
2013 Ehrlich Judge Merrilee 2013 Migdall Suzanne
2013 Farber-Ross Michelle 2012, 2013 Mills-Coore Catherine
2013 Filhaber Dale 2013 Murphy Kelly
2013 Fravel Chelsie 2013 Myatt Karen
2013 Galan Pamela 2013 Nolan Andria
2013 Gonzalez Kimberly 2009, 2012, 2013 Nordeen Peggy
2013 Gousse Melissa 2013 Norman-Figueiredo Trish
2013 Grossman Nicki 2013 Shecter Kerrie
2009, 2010, 2013 Oller Ronnie 2013 Slaughter Jill
2013 Pallesen Christine Ramirez 2013 Sortal Robyn
2009, 2010, 2011, 2013 Parlavechhio-Ortis Barbara 2010, 2011, 2012, 2013 Starkey Councilwoman Susan
2013 Patterson, DDS April “Dr. Patty” 2013 Stasi Meghan
2013 Phillips Sharon 2013 Thanos, DMD Leana
2013 Plateroti Trisha 2013 Tinoco-Friedman Amy
2010, 2011, 2012, 2013 Porter Jonnine 2013 Travisano Jacqueline
2013 Rodriguez Yolanda A. 2013 Trimm-Angelone Trina
2013 Roloff Tracy 2013 Tuggle Michelle
2013 Ross Durée 2013 Vento Ana
2013 Rubin Sills Holly 2009, 2010, 2011, 2012, 2013 Waldman Aleida
2013 Sandoval Shireen 2009, 2010, 211, 2012, 2013 Wilkie Polly
2013 Satterlee Joy 2013 Williams Sonja
2009, 2010, 2011, 2012, 2013 Saumsiegle Julie 2013 Wise Susan
2013 Schechter Barbara 2013 Zaffere Kimberly
2013 Seiden Sandra 2013 Zelman Debbie
2013 Seminario Carola 2013 Zimet Debbie
2013 Shareif Barbara
The Boys & Girls Clubs of Broward County (BGCBC) is non-profit 501(c) (3) private agencies dedicated to helping young people improve their lives by building self-esteem and developing valued skills during their childhood. Serving more than 12,000 at-risk young, ages 6-18, each year from its 12 Broward County-area clubs, its purpose is to inspire and enable children to realize their full potential as productive, caring, and responsible citizens.  Visit for more information.

16th Annual Cuisine for Art

16th Annual Cuisine for Art

On May 2nd, 2013 Patty Asseff (City of Hollywood Commissioner) and many more gathered at the Seminole Hard Rock Hotel & Casino for a night of awards, great food, entertainment, and of course a live auction. Elected officials and Community leaders rolled up their sleeves and became waiters for the night while serving guests and attending the needs of supporters bidding for unique items such as: vacation packages, bountiful gift baskets, sports and entertainment memorabilia, fine collectables and much more. All proceeds of the night went to benefit the Art and Culture Center of Hollywood.

Celebrity Waiters – Elected Officials

  • Hon. Patricia Asseff, City of Hollywood Commissioner
  • Hon. Kevin Biederman, City of Hollywood Commissiioner
  • Hon. Richard Blattner, Vice Mayor, City of Hollywood
  • Hon. Peter Bober, Mayor, City of Hollywood
  • Hon. Joe Gibbons, Florida State Representative
  • Hon. Sue Gunzburger, Broward County Commissioner
  • Hon. Peter Hernandez, City of Hollywood Commissioner
  • Hon. Shevrin “Shev” Jones, Florida State Representative
  • Hon. Elaine Schwartz, Florida State Representative
  • Hon. Eleanor Sobel, Florida State Senator

Celebrity Waiters – Community Leaders

  • John Benz, Senior Vice President and Chief Strategic Officer, Memorial Healthcare System
  • Vivian Gonzalez, WSVN-Channel 7 Morning Meteorologist
  • Michael Goodman, Partner, Bitner Goodman
  • Deborah Kerr, Broward Cultural Council Chair
  • Alan Koslow, Partner, Becker &Poliakoff/Chair, Broward County Film Society/FLIFF
  • JarettLevan, President, BBX Capital/Chair, Business for the Arts Broward
  • Jason Martinez, Morning and Noon News Anchor, WPLG Local 10
  • Pat Mason, CEO/President, Sun Credit Union/Greater Hollywood Chamber of Commerce President
  • Lisa Scott-Founds, President and CEO, Winterfest, Inc.
  • Josh Vajda, Director of Inside Sales, AutoNation

Thanks everyone for joining and making the night special. If you are interested in contributing to the Art & Culture Center in Hollywood click here