Let me ask three simple questions:
First question: what matters to you? Stop and think about it for a minute. What (or who) is most important? What (or who) is it that you would tell someone matters to you more than anything in the world?
Next question: how much time do you spend on (or with) what (or who) matters most to you?
Last question: how much money do you spend (or invest) in what (or who) matters most to you? [Read more…]
I’ve been around a lot of people lately who’ve been trying to justify to me their bad financial choices. They tell me the normal excuses. You’ve heard most of those and maybe even used them yourself – excuses like: “I deserve it,” “I work hard,” “I can afford the payments,” etc. I don’t want to beat you up, but as a financial counselor, those excuses to me are a lot like, “the dog ate my homework,” to the experienced school teacher. I just don’t buy it. I may believe you work hard and I may believe the payments for whatever you’re pining after won’t send you into bankruptcy, but I KNOW there is a better way to go about personal finance than the way the average American (read “broke person”) does it.
[Read more…]The title for this post was the hardest of all for me. What to call it…hmm… Some potential options were:
I settled for a title that is a little less outlandish but hopefully still conveys the idea behind today’s post. What does tomorrow hold? Good question. Today, I’m going to go through a quick run-down of some of the ways I believe we should all be prepared to deal with the future, without becoming die-hard conspiracy theorists and without ending up on a terrorist watch list. Your comments for this should be fun, if nothing else. Let’s dive in.
[Read more…]Today I’m excited to have a good friend of mine, Cy Vanover, sharing his knowledge on getting a college degree without debt. Cy is a genius at this stuff and just came out with his first book on the subject so even though this post is a bit long, READ IT and SHARE IT with anyone who may be planning for college anytime soon.
Since 1978, the average price of college tuition has increased 1,100 percent. No folks, that’s not a typo … a 1,100 percent increase, even when adjusting for inflation. But don’t take my word for it; that statistic comes directly from William (Bill) Bennett, former Secretary of Education under Ronald Reagan.
There was a time (not that long ago) when students could pay their way through school by working part-time construction jobs and graduating completely debt-free. Yes, they had to live very frugal lives in order to do it, but do it they did. What happened to those days?
[Read more…]Last week, I started us on a journey down the path to learn what types of insurance are out there and whether or not they are something you should consider. Of course there are plenty of opinions out there and so I hope my post, plus the comments that got added, helped you if you were trying to figure all the insurance mess out for yourself. Today, I’m continuing with some additional insurance types and we’ll see where we land at the end. Let’s dive in. [Read more…]
I feel like standing on a bit of a soap box today (and I’m even continuing it next Saturday!!!) – why? I will be “yelled at” by overzealous insurance agents. I will be told I am wrong by people who have had their 1-in-a-million situation cost them their life savings. I will be dismissed because I am not a licensed insurance broker. My real reason: I want to bring a good dose of reality to a discussion so filled with hype, emotion and confusion so those of you who are trying to figure this mess out will have a place to start. I also want to have this discussion so others can chime in.
Since there are literally volumes that could be written about each of the various insurance types, I will simply list out several of the more common ones and give you my BASIC take on each’s validity and utility. You’re welcome to agree or disagree based on what’s going on in your life. If you have something to add to the conversation (not just rhetoric), comments are open and welcome. Help us to all learn something!
When it comes to business insurance, there are many different insurance policies that you can find out there. At first, it can seem unclear, and the amount of information out there about different options can put people off doing any research, taking their time and finding a deal that’s right for them.
Just as road signs guide you to drive safely and your doctor advises you to look out for symptoms of health issues, it’s crucial to monitor signs in your finances that might indicate potential problems. As a financial counselor, I recommend using an online banking system as a proactive tool to help manage your finances effectively.
As I wrote in my book (shameless plug: From Debtor to Better is now available in paperback!), the average American is three weeks away from being bankrupt, unable to pay bills or put food on the table. And “the average American” means roughly 70% of Americans based on the studies I found. What happens when there’s a glitch in the company payroll or a bank error and your paycheck doesn’t get deposited on time? For most of you, that’s a scary possibility.
[Read more…]When I was younger, I was sure I knew everything. Sometimes I still fall back into that mode and then something happens to prove (usually quickly) how stupid that thought is. However, if you’ll let it, experience and age bring wisdom and knowledge that just can’t be taught any other way. That’s the premise for this post.
I have been privileged to hire an intern at work. She is young – 18 – and VERY intelligent, but during one of our discussions, her comments reminded me that all the education in the world can’t beat out some good experience when it comes to learning about personal finance. With that in mind, I compiled a list of 10 things I wish someone would have taught me when I was 18 and things I will convey to her – even though they have nothing to do with her assigned job duties. I will admit many of them are not directly about money, but I included them because they had a very powerful impact on my financial life. [Read more…]
Last week I pumped you up about going to Disney World, which I realize for some of you was probably not ideal since your budget screamed you would be staying at home this year. I get it. That’s okay – we aren’t going on an extravagant vacation this year either because of some family responsibilities. But in the spirit of making sure you are able to make the most of whatever your vacation plans are, I wanted to spend some time today offering some tips on how to save for a great vacation.
Let’s set the groundwork first. To make sure you set goals that are within your limits, let me remind you of what a true and complete goal must be S.M.A.R.T.:
[Read more…]Let’s talk VACATION! I’m of the belief that there are two types of vacations: you either set out to see and do LOTS of things or you set out to do as little as possible for the entire time. For those of you up for the first option, Disney World is a great option for that extra special trip. But before we get started, a warning: Disney is not for the weak of wallet. Disney World is HUGE and it can be expensive. However, it truly is as they claim – a magical place. Today, let’s talk about 6 ways to do Disney on a Budget and I’ll even walk you through a trip my friends at The Magic for Less Travel helped me plan. [Read more…]
