Author - Linda Y. Leitz, CFP®, EA, CDFA

1
A Budget You Can Live With
2
The Good and Bad of Debt
3
Losing Strategies in the Current Economy – And the Winning Alternatives
4
When Should I Start Giving An Allowance?
5
Navigating Stormy Financial Waters after Divorce

A Budget You Can Live With

Different people have different ways of managing their money.  Some people like working through what they spend in dollars and cents.  That’s workable and viable.  “If I spend less on dinner tonight I can have a more expensive lunch tomorrow.”  For these folks, each dime saved is rewarding.

Other folks work better with general parameters.  I’ve seen this in my own family.  I know what we spend on an average dinner out with the whole family.  So instead of watching every dollar spent when we’re eating out, we keep track of how many times we eat out each month and …

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The Good and Bad of Debt

There’s good debt and bad debt.  Good debt can allow you to acquire an asset with financial advantages more quickly than you could have enough cash saved up to pay for it.  Lots of the common forms of good debt give you a tax break.  Mortgages and many student loans are good examples.  Even a car loan can be good debt.  There aren’t tax advantages for car loans, but if having good transportation allows you to have better jobs and more flexible career options, a car loan that doesn’t overburden you financially could be a good move.

Bad debt often …

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Losing Strategies in the Current Economy – And the Winning Alternatives

Lock in Losses – If you sell your stock market holdings now, while the market is down, and bury the money in your back yard, you’ve guaranteed that you’ll lose money.  The good ol’ “buy low, sell high” motto still holds.  If you start putting money back in stocks when the market goes up, you’re selling low and buying higher.  For most people, the best advice is that if you’re in the market, stay in until it recovers.

Hot Tips – Get your advice from reliable sources.  The guy in the next cubicle, the woman who cuts your hair, and …

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When Should I Start Giving An Allowance?

Parents want to know when the right time is to pay allowance.  It’s sort of like knowing when the right time is to get married or have kids.  It depends on the family and on the individual kids.

For most kids, when they are aware that things cost money, they’re ready to have some money of their own.  And the right amount is usually about a dollar per week per year of age.  So a five year old could have as much as $5 per week.  The next step is crucial!  Don’t buy the child all of the discretionary purchases …

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Navigating Stormy Financial Waters after Divorce

In a divorce, there can be countless issues to deal with.  Parenting after the divorce, where to live, what friends side with which spouse, emotional turmoil with blame, guilt, fear and a sense of loss.  And, of course, there’s the financial change.  How each person deals with this is individual.  And one of the first financial steps to take is to assume you’ll be all right.  That might not sound like very sound or complex financial advice.  But as a financial planner who deals with a lot of people during and after divorce, I can tell you that the people …

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