What do you really want from life? What kind of lifestyle do you seek? What are your life goals? What do you want to do, have or be? Does your spending reflect those things? When most of your money goes toward providing what’s important to you, you tend to live a more fulfilled life and feel satisfied with the way you spend your money. It’s also easier to stick to your personal finance plan … 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: Any ideas on how we should use an inheritance? My husband and I recently inherited $50,000 and we can’t seem to agree on whether we should invest all of it or pay off debt of about $18,000 and invest the rest. Answer: On the surface, it seems the answer to your question should be straight forward, so here is my short answer: In general, if your costs to borrow money are higher than what you can safely earn on the same amount, … Read More
Financial issues in a relationship can be complex and challenging. It’s likely you’ll encounter some point in time where you want one thing and your partner wants another. In such situations, wouldn’t you prefer to avoid a money argument? But how do you keep the peace without giving up what’s important to you? Use these strategies to avoid an argument and negotiate your position effectively: 1. Refrain from taking offense. When you see your partner is getting “hot … Read More
Although you may not realize it, you have an emotional relationship with your finances. Think about it: when you get paid or spend money, how do you feel? An important aspect of living a secure, abundant financial life is having a thoughtful relationship with your money. Here are some tips you can use to start changing your relationship with money and live with intention: Adopt a “Start Today” attitude. Say to yourself, “Starting today, … Read More
So at first, you might think attitude has nothing to do with personal finance. Oh, to the contrary! Your attitude is one of the most important factors you have for success in all areas of life. A bad attitude gets you no where, while a good one can propel you far beyond your dreams. Now, maybe you feel you already have a success-mindset, but I think we can always benefit from strengthening and reviving … Read More
If you’re like most people, you probably dream of having a job that’s enjoyable and fulfilling. The solution maybe closer than you realize if you consider turning something you love to do into a way to pay the bills. You may be thinking, “There’s no way I can make money from my hobby.” But you might be surprised! Just think how great it would be if you could make money from the one thing … 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
Up one day, down the next…is the stock market roller coaster making you nervous? I completely understand. To help you get a better handle on this, check out the post I made today on my Kinkelaar & Associates’ financial planning blog. It highlights the importance in having an investment strategy that you can stick with. Now, I also have to share a personal annoyance with you. One of the comments you hear from financial … Read More