Think of it as a blank palette and you get to design a masterpiece; this masterpiece will be your financial picture.
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CategoriesLiquid
There are a lot of numbers floating around that people tell you you have to worry about. But the truth is, if you can stay our of debt and have an emergency fund, then you'll be better off than nearly everyone. Are you a victim of unexpected expenses? Everyone is. It never fails, as soon as you think you're getting ahead with money, something comes up. Life gets in the way. It happens to all of us.
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CategoriesLiquid
Can the government really require you to get individual health insurance? Congress says so, and for those of you approaching your 26th birthday this will affect you and your expenses.Posted
CategoriesCareer & Economy
Knowing where your money goes is the first step to being liquid. Recently we had a post about creating a savings plan. In order to do that, you need to start with a spending plan; today we'll delve more deeply into the necessary steps of creating a spending plan so you can live the life of financial freedom.Posted
CategoriesSaving Money
In today's unstable market environment, it's too easy to let our pre-historic brains take over and follow the herd; that's what fight or flight is all about. When this happens, the investor typically has a tendency to sell when investments are beaten down, and buy when they've been too high for too long. For instance, you sell your stock at a loss, keep it in a money market account where it's not keeping up with inflation, then go back into the market when it's been high for a long time.Posted
CategoriesCareer & Economy
More than 50% of the 50-somethings surveyed now say they won't be financially prepared for retirement. If you're 20-something and reading this, then let this be your wake-up call. You can never start too soon. The earlier you start, the better off you'll be, and you'll be grateful you won't have to work until about two minutes before you die.Posted
CategoriesCareer & Economy
With any partnership, whether it be in business, a friendly relaionship, or marriage, it's imperative to communicate. No one can read minds, and when we think we can, often we're wrong. We need to know what the other person is thinking.Posted
CategoriesSaving Money
Money is there to be spent. Sometimes we spend because we have to (food, gasoline and utilities.) Sometimes we spend because we want to (vacations, Starbucks and iPads.) Regardless, the only use for money is to spend it.Posted
CategoriesSaving Money
Saving for your child's education is something some people start when their child is born, which isn't a bad idea. It's always good to get a head start, especially when considering inflation. Over the past several years tuition inflation has been more than double general inflation.Posted
CategoriesSaving Money
...not the marriage kind...
But just what does it mean to be more excited about what you spend at least 8 hours a day doing! If you're not, it may not be your fault. Just as a lack of financial education, which isn't your fault, can lead to poor spending habits, a lack of concern on the part of your employer to get you engaged at work is also not your fault. This can lead to poor morale and poor performance.
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CategoriesCareer & Economy
We all know that working out can improve your health as well as improving your finances. Just like working out, using cash as opposed to plastic at the register can also improve your health and your finances. Huh? Really...Posted
CategoriesSaving Money
Like the government, most people make enough money; and like the government, most people need to cut their spending. However, after trimming the obvious things, such as the stuff you don't really need or seldom use, you reach a point when you get wary and you don't know what else you can cut.Posted
CategoriesCareer & Economy
Once you've decided to clean up your financial life, make sure you don't get sucked into a maelstrom you can't get out of. These five traps will definately impeded your progress.Posted
CategoriesSaving Money
It's Not Just For Married People
Just because you don't have a will won't keep you from dying. Just because you're young, won't keep you from dying, either. We all think we're invincible. If you die suddenly without a will, then some judge who you've never met, will decide where your stuff goes. If you become sick, it makes it that much more difficult to create your will. So, it's best to have one in place; that way all your desires are cared for.
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CategoriesSaving Money
We live our lives around what we're taught growing up. Sometimes we will start to believe differently when we experience the real world and realize some of what we've been taught really doesn't make sense. Many beliefs around money are learned early in life and sometimes we just can't shake them.Posted
CategoriesCredit & Debt
There's going to come a time in all our lives when we can no longer work, whether that be physically or mentally, or both. That's the time when our investments should be generating enough income to live on. That's why we need to get out of debt so we can start saving for retirement.Posted
CategoriesSaving Money
I know, I know. You've been meaning to start an emergency fund, but emergencies keep getting in the way. Life gets in the way. Here's how to get that emergency fund stated and fill it up quicker than you think. Posted
CategoriesSaving Money
My father graduated from Harvard Law School in two years; he was a smart man. However, he always said, "I don't need brains, just 'Lady Luck.'"Posted
CategoriesSaving Money
Yep, let's go one step further in financial planning: financial planning with your marriage in mind. You know clear communication is crucial to any relationship. And when communication breaks down, so does the relationship. Lack of communication is the reason more than 50% of marriages end in divorce. And, lack of communicating about finances holds the majority of those cases.Posted
CategoriesCredit & Debt
Figuring Out How Much You Really Spend
The only way to really find out where you spend your money is to write down everything you spend for three weeks. I say three weeks because it really is true, it takes 21 days to make a habit.
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CategoriesSaving Money