Category - Budgeting

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Don’t lose everything…financial planning for the unexpected
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Why track expenses?
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Are Two Heads Always Better Than One?
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Cost of Credit Card Debt Calculator
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Do You Have Investing FOMO?

Don’t lose everything…financial planning for the unexpected

I love those articles that tell you everything you’re doing is wrong. Lifehacker had a decent one yesterday on how to wash your hair, swallow pills, do laundry, etc. One of the things you may be doing wrong is your will.

You do have a will, right? If so, you’re the exception to about 75% of the people I see. I see it so often that I have developed a boilerplate recommendation to include in my client reports. So don’t pay me to tell you what you already know! Get a will, health care advanced directive, and powers of attorney …

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Why track expenses?

One of the primary things that we suggest to clients is to track expenses. In some cases, this means noting down each expense as you make it, daily, so that even the incidental cash outlays are tracked. Another way to do this is to use an automated method, one of the many apps available, to monitor your expenses through your credit card and bank accounts. Either way, when you track expenses there are a couple of outcomes that can have a positive influence on your financial life. The first is that you become more aware of each outlay of money,… Read More

Are Two Heads Always Better Than One?

If you’ve ever had a roommate and/or been married, you know how hard it can be for two people to work together for what is (hopefully) a mutually beneficial goal. Whether it’s to save money on rent, or simply because you love and want to build a life with someone, we enter into these interpersonal arrangements with the best of intentions to compromise with and respect our partner to achieve the best possible outcome.

Yet, based on the estimated 50% divorce rate in America, those intentions clearly don’t always pan out.

Why, then, do we think that a business partnership …

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Cost of Credit Card Debt Calculator

Credit card debt is terrible. To a financial planner, credit card debt is like having a cluster of thousands of baby spiders crawling on your body and under your clothes: You cannot act fast enough and there is no amount of modesty worth leaving the situation unresolved. Recently, I spoke with someone who did not pay off their credit card debt every month even though they easily could have. Their negligence was due solely to the effort it took to pay each month. What they did not realize was that when you fail to pay off your credit card each… Read More

Do You Have Investing FOMO?

You get it: you need to invest wisely in order to grow your wealth.

You understand the importance of getting your money into the market, and you’ve been diligently contributing to retirement accounts and maybe even a brokerage account for years now.

But you can’t help but wonder… are you investing in the best possible way? Are you potentially missing out on a better investment someone else is using that you don’t know about?

It’s reasonable to feel this fear of missing out on something great — or having a little investing FOMO. It’s when you act on this fear that

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