Financial Fridays
Key Takeaways Do a quick, three minute look at your finances every Friday to ensure there are no irregularities and to keep your budget on track. One Friday every month, look at your assets and liabilities to ensure you are on track for any financial goals you might have. Once a year, do long-term planning […]
Your Cash Flow Business
Key Takeaways When it comes to your finances, view them from the standpoint that they are a business you are operating. Businesses do three things every year: they make sure they have positive net cash flow, they have working capital, and they plan and budget. Budgeting and planning every year ensures you are meeting the […]
Gigging Cash Flow
Key Takeaways The rise of the gig economy has helped people build multiple streams of income. People choose to take on gig jobs for many different reasons, but it’s a great option to help pay down debt, save more, or earn some extra spending money. There are pros and cons to a gig job, to […]
Home Improvements – Now and Later
Key Takeaways Think about making your home improvements in terms of immediate, short term, and long term. Planning, budgeting and financing your home improvements are three important steps in ensuring you are able to make the improvements you need to enjoy your home, as well as to get a better return on your money when […]
The 3 Ways to Save More
Key Takeaways Save first, spend second. You can’t start a good saving plan (or habit) until you’ve established a budget. Increase your income, reduce your expenses and control your emotions—wait 48 hours before pulling the trigger on a major purchase and don’t fall into the FOMO trap.
Your “3 Part” Rainy Day Fund
Key Takeaways Make sure you always have three to six months’ worth of expenses saved in a rainy day fund that you can easily tap. There are three aspects of a rainy day fund: objective, subjective and emotional. A rainy day fund will enable you to weather the financial and emotional impact of a sudden […]
When Funding Your Child’s Education, Let’s Not Repeat History
Key Takeaways Student debt has doubled over the past seven years. Newly minted 2016 graduates have an average of $37,000 in debt—some have debt loads in the six figures. 529 plans are excellent, tax-advantaged ways for most parents and grandparents to save for a child’s education. Start saving as early as possible in the child’s […]
Capitalism Gets a Bad Rap
Key Takeaways Considering what’s happened during young adults’ lives, it’s not surprising that they are wary of capitalism and financial markets. But, young folks haven’t been around long enough to gain a true long-term perspective. Millennials are already good savers—they just have to become savvier investors and let risk assets and compounding work to their […]
5 Money Psyche Tips
Key Takeaways Feeling like you’ve lost control of your finances can derail many aspects of life. Planning ahead for large expenditures, staggering your payment schedules and diligently maintaining a minimum balance in your bank account can give you a tremendous leg up. When it comes to your money, always try to stay calm, collected and […]
5 Reasons Why Math Matters
Key Takeaways Even if you weren’t a math major, you need basic computational skills and an understanding of compound interest, inflation, amortization and taxes to be a financially responsible adult. As discussed in a previous post, the Rule of 72 is a powerful shorthand way of calculating how many years it will take an investment […]