Do you often wonder where all your money went at the end of a pay period? No matter how much you earn, are you living from paycheck to paycheck? Do you feel like your spending is out of control? If you answered “yes” to any of these questions, a financial detox might be just what you need to improve your financial health. Stick with me while I explain why. My green-smoothie-detox story In the … Read More
If you own a home, homeowner’s insurance is a necessity. You hope you don’t need it and the premiums are never pleasant, but you’ll be glad you have it if you need to make a claim. That’s the purpose of insurance. I know many clients I work with are frustrated with rising premiums even though they have never made a claim and are often unsure of what is reasonable. The levels of coverage and premiums … Read More
Summer is winding down — even though around here it’s warmer today than it was for most of July — and the kids are back in school. In this short video I share with you a few tips on actions you can start now to keep your finances on track for the balance of 2014. 1. Open Enrollment season for many employers will start soon. Do you really understand the employee benefits you have? Now is … Read More
Sometimes we can make our financial goals overly complicated by trying to address too many issues at one time. It does not need to be that way. Below are my 7 simple tips for creating a foundation to help your financial goals fall into place. 1. Create Challenging but Sensible Financial Goals in the First Place You are almost guaranteed to sabotage your efforts if your goals and actions are ridiculously lofty. Yes, you want to push yourself, but don’t set yourself … Read More
I just returned from another great conference (actually we call it a Retreat) with my fellow financial planners in the Garrett Planning Network. Each year I get a lot of inspiration by re-connecting with long time members and meeting new planners that are just getting started. One of the first presentations of the retreat discussed the need for people to believe that they have a purpose in life and how important this is not only for personal well being but for … Read More
Question: How can I be certain that I’m having enough tax withheld from my paycheck? Answer: Now that we are in November, it’s a good time to take a look at your year-to-date paychecks and properly estimate your tax bill for the year. This way you’ll know if you are in a safe withholding range and you’ll still have time to make adjustments if necessary. If an insufficient amount of taxes is withheld, you … Read More
Question: Can I get disability insurance if I’m self-employed, and if so, should I? Answer: Yes, and if you’re self-employed, disability insurance is even more important for you than for the average employee. If you are injured and are unable to work, you don’t have the built-in luxury of paid sick leave to tide you over. This means you need to take a serious look at your financial situation and decide whether you have … Read More
In some cases, bad credit is a result of irresponsible money management. But it often occurs because of unexpected financial hardship. One day you might have all of your bills current, and the next you could become disabled or lose your job. And if you fall behind on your debts, it will wreak havoc on your credit rating. Credit repair agencies claim that they can remove bad entries from your credit report. But did … Read More
Happy Halloween! So tell me… is your money situation giving you a terrible fright? While it’s time to put the candy and costumes away for another season — well, maybe not the candy — have you thought about how you can once and for all put a lid on your financial goblins? Here’s a thought for you: consider how much time you spend preparing for a holiday like Halloween, or Thanksgiving or Christmas or … Read More
Question: Can my mortgage lender require me to have an escrow account? Answer: Generally, your mortgage lender can require you to have an escrow account if you borrow more than 80 percent of the value for the property you financed. The percentage you borrow against the valuation of the property is known as the loan-to-value ratio. Each month, in addition to your mortgage payment, the lender collects a prorated amount to be held in … Read More