• Paying For College: Ways To Save

    February 14, 2020 by

    Last week, we examined how decisions play an important role in paying for college. This week, we look at ways to pay for college. While parents usually assume the responsibility of funding their kids’ education, kids can also be involved in saving for their own education. Let’s look at the ways to save and pay… Read more

  • Paying For College: Decisions, Decisions

    February 8, 2020 by

    At a recent speaking event, I was asked by a concerned parent, “How do I prepare financially for my kids to go to college?” As important a role as parents have in funding college, the kids have an equal if not greater role in the cost of college education. That is because the kids are… Read more

  • Insurance: The Safety Net

    January 31, 2020 by

    What sad news this week with passing of legend Kobe Bryant. Then we hear about all the deaths from the new coronavirus. If you haven’t already, take time to cherish your loved ones. Life is precious. Events like this make us stop and think: What would happen if something devastating occurred to you or one… Read more

  • Do You Need A Rainy Day Fund?

    January 24, 2020 by

    Rainy day fund. Emergency fund. Cash reserve. Call it what you prefer, but the important thing is to have one. What is a rainy day fund? It’s money set aside to weather unexpected “storms” in your life. For instance, did your car break down, and you need money for a repair? Lost your job and… Read more

  • The Case For Non-Qualified Accounts

    January 17, 2020 by

    If you have money in an account, chances are that you have at least one non-qualified account. What does it mean to be “non-qualified?” Don’t let the name fool you into thinking it’s a bad thing. Being non-qualified simply refers to “not qualifying” for any tax benefits. Any money you place into a non-qualified account… Read more

  • The Secret To Smart Investing

    January 10, 2020 by

    The old adage “Buy Low, Sell High” works great … if you have a crystal ball for every investment you make. In reality, no one can predict with absolute certainty the best time to buy or sell an investment. How do you know that a stock is at its lowest price when you buy? How… Read more

  • The Silent Partner: Cash Flow

    December 20, 2019 by

    Last week we learned that building net worth is a top goal for your personal finances. How do you accumulate net worth? Since net worth relies on assets, the key to growing net worth is to grow assets. Assets like investments help because they grow in value, but what if your investments take a downturn?… Read more

  • Your Financial Score

    December 13, 2019 by

    How do you determine how well you are doing financially? There are many money “scores” out there, including credit rating (a.k.a. FICO score) or financial independence score. But the best way to get a baseline score and track how well you are doing year after year is to calculate your net worth. Keep Score Now… Read more

  • Buying A Home: What Is In A Mortgage?

    December 6, 2019 by

    Are you considering buying a home someday? Unless you have all the cash to buy that home outright, chances are you will end up borrowing some money. A mortgage is a loan specifically used to purchase a home. Consider it the middle man if you are not buying the home with 100% cash. The mortgage… Read more

  • The 411 On 401(k) Plans

    November 22, 2019 by

    Savings accounts come in many forms, and one of the most popular in the US is the 401(k) plan. It’s essentially a piggy bank that you should not crack open until after age 59 1/2, close to retirement age for most of the workforce which is why it is often viewed as a retirement savings… Read more

  • Credit Card FAQs

    November 15, 2019 by

    Whether you already have a credit card or are thinking about getting one, it’s time to get acquainted. Here’s what you should know. What is a credit card? A credit card allows you to borrow money to make purchases and then pay back later. How much you can borrow is based on your credit, or… Read more

  • Compound Interest

    November 8, 2019 by

    In addition to the seven natural wonders of the world, Albert Einstein believed in an eighth wonder of the world: Compound Interest. What is compound interest? In a nutshell, it’s money making money. How does one unlock the door to compound interest? Through investing. The easiest way to understand investing is to think of a… Read more

  • Balancing A Checkbook

    November 1, 2019 by

    Ever wonder why the amount left on your account is called a “balance?” That’s because you should get that same number after you “balance” your checkbook. Like budgeting, all it takes to balance a checkbook is addition and subtraction. However, budgeting and balancing serve different purposes. Budgeting is about looking ahead, whereas balancing is about… Read more

  • Budgeting 101

    October 25, 2019 by

    A budget is just a fancy way of saying a “plan for your money.” Anyone receiving money on a regular basis, whether it be allowance or salary, should have a budget. This tells you exactly where your money goes, so that you only spend what you have. It’s easy to start a budget, but will… Read more

  • 5 Steps To Smarter Spending

    October 18, 2019 by

    Spending money. Let’s face it. We love to spend money, but we don’t love to talk about our spending decisions. Have you ever been in a store when a child asks, “Can we buy that toy?” and then hear a long, detailed response on all the reasons to buy or not buy the toy? Probably… Read more

  • A Life Of Sharing

    October 11, 2019 by

    You make a living by what you get; You make a life by what you give. – Winston Churchill* I spent the past two lessons on saving money, but now let’s talk about sharing money. In my opinion, of the 3 S’s – Share, Save, Spend – sharing comes first. Why? Because your saving and… Read more

  • How Much Money Should I Save?

    October 4, 2019 by

    The million dollar question (pun!): How much should I save? Well, there’s a complex answer and a simple answer. In most cases, you’ll get the complex answer. It depends. Everyone’s number is different because we each have different savings goals. Saving for a car is different than saving for a house. Saving for a house… Read more

  • A Good Four-Letter S— Word: Save

    September 27, 2019 by

    If having savings is a good thing, why does the act of saving money get such a bad reputation? Do we dread saving money because we live in a world of instant gratification and don’t have the patience to spend our money later? Maybe. Is it tough to accumulate savings when we have other bills… Read more

  • What Is The Right Price?

    September 20, 2019 by

    As a child, I grew up watching TV game show “The Price Is Right.” But often, I knew the price was NOT right because their prices reflected full retail value, and every one of those goods could be purchased for less. This begs the question: What is the right price?

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