The No-Tracking Budget

April 21, 2023

You don’t have to be a financial planner to know that one of the critical ingredients of financial security is having a budget, but knowing you need one and actually sticking to one are two different stories. We’re not here to lecture about why you should budget; let’s instead discuss a way to make it less painful. The purpose of a budget is threefold:

  1. First, to ensure you are not spending more than you earn.
  2. To figure out how much you can actually afford to save.
  3. If you are spending more than you make or you’d like to save more, then it helps to figure out where you might be able to cut back.

Finding a way to stick to your budget

Putting together a budget is one thing. Sticking to it is another. Putting together is relatively simple, and while there are many tools to help, sticking to it is where most people give up. So let’s talk about that part, assuming you already know how much you need to spend each month on needs versus wants.

Stop obsessing over categories when tracking.

Confession: I can’t tell you exactly how much I spent dining out last month. And I can’t tell you how much I plan to spend on it this month. That’s because that number isn’t as important to me as first ensuring I cover all my other financial goals.

I can tell you how much I’m saving toward several small but significant financial priorities so that whatever is left over is what I can spend on things I can go without, such as sushi night, shopping, spa services, or Target. (Yes, Target is a discretionary expense for me, and don’t tell me you also haven’t discovered their magnetic carts that just attract things.)

By prioritizing the things I know I need to make happen financially, I essentially back into what I can spend on wants without any tracking beyond setting up an alert to tell me if my account dips below $100.

Make it automatic

I do this through automatic transfers set to happen each payday. I have a series of savings accounts, one for each financial priority, through an online bank that lets me set up as many different savings accounts as I want. It’s the electronic version of the envelope system.

My checking account for spending money is at a “bricks and mortar” bank, and I have a checking account for bills that’s also housed at the online bank. Here are some other accounts that you might set up:

Accounts to set up for the no-tracking budget

Monthly bills

Separating your known monthly bills into a separate account and setting them on auto-pay might revolutionize your relationship with money. This account is for things with due dates and relatively set amounts like rent/mortgage, cable, cell phone, etc. You may need to estimate for things like electricity and gas. I use the highest amount from the past year, which ensures I’m well-funded.

What isn’t this account for? Things you can pick and choose how much and when to spend each month like groceries, personal care, and even your dog walker. Yes, this is money you need to spend, but it doesn’t have a due date or a set amount, which defeats the purpose. This fixed amount would only fluctuate if you made a drastic change like moving, canceling cable, etc.

Emergency fund

Getting this account funded with three months of expenses was my top priority, so before I even opened another account, I saved as much as I could. Now it’s just there, accruing interest. I can’t over-emphasize the peace of mind this gives me.

What isn’t this account for? Things I forgot to include in my “oh crap” account, like expenses to stand up at a wedding, Christmas gifts for family, or a plane ticket for a funeral. Those are all important things, but they are not an emergency.

Car stuff

This account is for car-related things such as insurance, new tires, repairs, registration, etc. Once it’s paid off, I’ll transfer my monthly payment into this account too, so I can save to buy my next car with cash.

What isn’t this account for? Gas money – that’s discretionary and comes out of my spending account.

Pet Medical

Pet insurance can run from $10-$90 per month, and Consumer Reports found that it’s not worth the money for the average healthy pet. Instead, pay yourself the premium so that if/when an expensive injury or illness pops up, you have some money saved. It’s worth noting that most pets’ major expenses come when they’re older, so if you do this throughout their life, you should have a sizable chunk built up by the time you need blood work and x-rays to figure out what old age ailment they have.

What isn’t this account for? Pet food (spending account), pet-sitting (spending or vacation account), and routine visits unless you’re accounting for that with the amount you’re setting aside into this account.

Kid activities

If you have kids, then you know that their extracurricular activities can add up pretty quickly. Try annualizing the costs and transferring one-twelfth each month to ease the burden of sign-up and gear-up season.

What isn’t this account for? Clothing, toys, everyday family expenses – try to isolate the “extra” stuff in this account, which can be a way for spouses who may disagree about how much to spend on this stuff to keep tabs on it in an agreeable way.

Depending on what’s important to you and what you want to better control your spending on, you may have other accounts. For example, my friend with a side gig has an account where she puts 20% of her income aside to have enough at tax time.

It takes some work to set up these accounts, but it’s worth it.

Real Results

I shared this system with a colleague of mine who is a busy mom of two young children, and her email to me says it all:

“I just wanted to say thank you. I’ve separated all my fixed bills through those accounts and set up a few savings accounts for shorter-term larger dollar items – Christmas, home improvements, and travel. That way, we don’t have to either put off those things or feel guilty about spending money on them.

Plus, I set up accounts for the girls for them to earn money and use on toys or whatever, and the transition of seeing the numbers is easier for them because they are still learning math and identifying the value of the paper/coin money. So, they earn it in cash, then we add it up and deposit it into our bank, and I transfer the money to their accounts.”

If you’re having trouble sticking to your budget, why not try it? What will your accounts be? Customize it to your life, and just make sure you’re also being deliberate with any “extra” money you find by trying this process!

3 Clever Ways to Trick Yourself Into Saving Money

February 24, 2023

I actually don’t think we have a financial literacy problem in America as much as we have a financial wellness problem. Everyone I talk to on our financial helpline knows what they’re supposed to do to be more financially stable. But while knowledge is power, putting that knowledge into action is where the real trouble is. It’s the same thing with eating well and exercising. We know what we’re supposed to do, but we don’t always do it. Continue reading “3 Clever Ways to Trick Yourself Into Saving Money”

5 Ways To Help Those Most Impacted By COVID-19

March 19, 2020

With COVID-19 sending millions to work-from-home and forcing businesses to temporarily shut their doors, nearly everyone is experiencing dramatic changes in their lifestyle. If you are one of the lucky few who have been able to adjust without major impact on your cash flow, there are a few things you can do to help those in less fortunate situations.

1. Buy gift cards to local businesses

Small businesses who rely on foot traffic or in-person interaction will feel the impact of mandatory closures much harder than large chains. As a way to show your support without physically being able to show up, consider buying gift certificates to your favorite local restaurants, fitness studios, boutiques, or salons. You can use the certificate once shops re-open while still providing them with revenue to help cover fixed costs like rent, insurance, or storage.

2. Continue to pay those who count on your business

Those who work out of people’s homes or who are paid based on the number of interactions they have with people will be stressed during this time. This can include everyone from childcare professionals, maids, fitness instructors and personal trainers, or personal care providers like your hairdresser. If you can afford to do so, consider:

  • Paying your nanny even though you are home with your kids
  • Scheduling a virtual session with your personal trainer or fitness instructor
  • Booking a haircut, nail appointment, or massage in advance
  • Buying merchandise or streaming content from up-and-coming musicians, comedians, or other artists
  • Giving tips to delivery people, many of whom are waiters or otherwise out of work
  • Refrain from freezing your membership if you attend a locally-owned fitness facility even if you can’t go
  • Donate to wellness practitioners who are offering free resources such as meditations or yoga classes via social media or livestream

3. Invest to stimulate the economy

When there’s fear in the market, opportunities present themselves to those who are prepared. If you have extra cash to work with, now is an excellent time to take advantage of a low market while also stimulating the economy. If you’re a savvy investor and have been eyeing a certain stock for a while, now you can essentially get it on sale. If you’re new to investing and don’t want to invest time into researching, you can purchase index funds, ETFs, or mutual funds. Regardless of your strategy, ensure you’re making smart investment choices that take your goals into account.

4. Donate to non-profits or consider fostering an animal

Many non-profits are having to cancel events that account for a large portion of their annual donations. If you regularly attend charity events, consider donating whatever you would’ve spent there, or even just donating your gas money now that you’re not driving so much. For those who are working from home, this is the perfect time to foster or adopt an animal. Pets still need homes and many volunteers are unable to show up for their shifts. If you can’t foster, consider a donation to the rescue to help with supplies.

5. Reach out to those who may feel isolated, at risk, or overworked

Those who are most affected by COVID-19 will be experiencing high periods of stress, either because of the extra work forced on their plate or the bulk of their work disappearing. Reach out to those who may be struggling and let them know we’re all in this together. Even if you can’t provide financial support, sometimes emotional support can inspire people to stay positive. Some ways you can show your emotional support are:

  • Email your favorite restaurant and tell them you can’t wait to come back
  • Tell your friends in the healthcare industry how much you appreciate them
  • Reach out to hairdressers, fitness instructors, nail technicians, or whoever you would run into under normal circumstances and see how they’re doing
  • Email teachers about your children’s progress or let them know how much you appreciate the work they do
  • Check in on those who are in the food service industry, working from home with children, living alone, elderly, or single parents

Showing support for our neighbors, friends, and family has never been more important. Do something kind, then spread the positivity by sharing it on your social media pages! These are the kinds of things people need in their news feeds.

Are You Financially Immune From The Next Emergency?

March 17, 2020

The following post is an excerpt from the Financial Finesse Personal Finance FORBES Blog. You can read the original post in its entirety here.

In many ways, emergency planning is the Rodney Dangerfield of financial planning. It gets no respect. The typical advice is to simply stash away enough cash savings to cover 3-6 months of income and then move on to more exciting topics like investing and retirement planning.

However, an event like the coronavirus has shown that merely having emergency savings is not enough. Just like an investment portfolio, a properly diversified “emergency portfolio” requires more than just savings in the bank. Here are the elements you’re going to want to make sure you have before the next big disaster:

1) An emergency kit

No, you don’t need to become a full-on “doomsday prepper.” You just need some basic tools, first aid supplies, and enough food and water to last at least 3 days. You can get checklists from the Department of Homeland Security and the Center for Disease Control. You can then supplement it with supplies for those types of disasters that are most common for your area.

2) Food reserves

If the emergency lasts more than 3 days, you’ll still want to be able to eat. Rather than purchasing specialized “emergency rations,” you can simply bulk up on long-lasting food that you already eat. At the very least, it’s something you know you’ll need and can benefit from even if no emergency ever happens. In fact, you’re likely to save money this way. Simply replace the items as you use them and perhaps add items when they’re on sale.

A food reserve can also be part of your regular emergency fund, thus reducing the amount of savings you need. After all, you can eat it when you’re unemployed too. Sure, you would miss out on the less than 1/10th of a percent (minus taxes) you’d otherwise be earning with that money in the average savings account. But according to the most recent CPI release, the inflation rate of food at home over the last 12 months ending in January was about 0.7%, so you’d actually be saving a little more than what you likely would have earned keeping that money in the bank.

3) Physical cash

No matter how adequate your emergency supplies are, you never know what you may need to purchase from someone else in an emergency. That’s why they say “cash is king.” Although the financial world refers to bank deposits and money market funds as “cash,” in a true crisis, banks may be closed, ATMs may not be working, and money market funds may not be available if the stock market is suspended (as it was after 9/11). Some preppers like to keep gold coins for this reason, but people may not know how to judge their value in a crisis. Instead, consider keeping at least a few hundred dollars in physical cash (even if it’s under the proverbial mattress).

4) Emergency savings

None of this means you won’t still need some savings in the bank. You can’t exactly use food to replace items damaged in a storm or fire. Nor is credit a good substitute for savings since lines of credit can always be cancelled, which is all the more likely during tough economic times or when you’re unemployed—the two times you’re most likely to need it. For this reason, you may want to use any low-interest (below 4-6%) credit available to you before your cash reserves so you can preserve them as long as possible.

How much do you need in savings? Even so-called “financial gurus” don’t agree. Dave Ramsey suggests a starter emergency fund of about $1k until you’ve paid off all your high-interest debt. Suze Orman recommends having 8 to 12 months’ worth of expenses in savings before paying off debt. What you decide to do may depend on your personal comfort level, the availability of other sources of financial support, and how risky your income is. You can use this calculator to get an idea based on your expenses and how difficult it would be to replace your income.

These savings should be somewhere safe and accessible like an insured bank or credit union account. If you want to maximize your interest, consider a rewards checking account. They can pay over 5% in interest, and many will reimburse your ATM fees as long as you’re willing to bank remotely, use direct deposit and electronic statements, and use your debit card 10-15 times a month.

5) Adequate insurance

No matter how much savings you have, it probably won’t be enough to cover some of life’s biggest financial disasters. That’s why you need adequate health, auto, renter’s or homeowner’s, disability, and life insurance. If you’ve accumulated a lot of assets, you may also want to consider enough umbrella liability and long-term care insurance to “CYA”: cover your assets.

Whether it’s the current threat of a possible pandemic or potential terrorist attacks, natural disasters, or financial crises, many experts fear that our world is only getting more dangerous. No one knows when the next disaster will be. The only question is whether you’ll be ready.

Workplace Financial Wellness Programs: Best Practices Guide

February 08, 2017

Our best practices guide for workplace financial wellness programs defines what it means to be financially well, and what constitutes a workplace financial wellness program to help employers avoid ‘bait and switch’ providers who are marketing themselves as financial wellness providers when in reality, they are aiming to sell employees a financial product or service. This guide aims to set industry standards around financial wellness programs in the workplace.

The ROI of Workplace Financial Wellness

October 19, 2016

How much money can a highly effective financial wellness program save your organization?  The answer, for most large companies, is well into the millions — and that’s focusing on the costs that are easiest to measure: wage garnishments, absenteeism and utilization of FSAs and HSAs.  With additional analysis, companies can also measure the savings from reductions in healthcare costs and delayed retirement. Modeling and survey research can benchmark and measure improvements in employee engagement, productivity, retention and morale. While the most toxic effects of unchecked financial stress, like embezzlement, workplace violence and a culture of negativity, are nearly impossible to calculate, it’s intuitive that reducing financial stress would also reduce those problems.

The Starting Point for Calculating ROI:  Financial Finesse’s Predictive Model

roi-chart-2-2The national average financial wellness score is 5, based on Financial Finesse’s 0-10 financial wellness scale which benchmarks each employee’s financial wellness based on an online assessment. A Workforce Financial Wellness Assessment™ aggregates and analyzes this data on the company level. The chart to the left shows the projected costs savings of an incremental shift in the median workforce financial wellness score from 4-6, which has the potential to save a large employer of 50,000 employees approximately $5.6 million a year.

The cost savings illustrated in the above chart are simply a starting point of what is easy to measure — the tip of the iceberg of a much more in-depth analysis that needs to be done to more accurately calculate the true financial impact.

A strong behavioral-based financial wellness program drives results in areas that are much more strategically important to the success of your organization, such as:

  • Reducing health care costs;
  • Reducing delayed retirement costs, with the greatest gains here among employees working in highly physically or mentally tasking jobs where a small decline in their desire or capabilities to do the work can put their own well-being or the well-being of others at risk; and
  • Recruiting, retaining and engaging employees

Healthcare Cost Savings

A 2014 study from the American Psychological Association reports that 64 percent of those surveyed cited money as a significant source of stress, and that Americans are paying for this stress with their health. Financial stress has been attributed to decreased employee productivity, increased absenteeism and increased employer healthcare costs.

Financial wellness programs are correlated with lower healthcare costs.  Our own study of a Fortune 100 healthcare company found that employer healthcare costs associated with employees who used the company’s financial wellness program actually decreased by 4.5 percent, while the costs associated with employees who never used the program increased by 19.4 percent.  This equated to a cost savings of $271.50 per employee.  If a 50,000-life employer experienced the same cost savings by offering a comprehensive workplace financial wellness program, it could save the employer over $13.5 million a year.

POTENTIAL ANNUAL HEALTHCARE COST SAVINGS

hc-savings$271.50 (net healthcare savings per employee)

X 50,000 (average number of employees)

= $13,575,000

Reducing Costs of Delayed Retirement

Employees today are woefully underprepared for retirement, with only 21 percent indicating they are on track to achieve their income goals in retirement according to recent research from Financial Finesse. As employees progress through the late career cycle, those who are underprepared may have to delay their retirement for financial reasons. This has repercussions throughout the company in terms of increased health and disability costs as well as the velocity of talent development. According to the Transamerica Center for Retirement Studies®, 65 percent of Baby Boomers either plan to work past age 65 or do not plan to retire at all. For every year an employee who would like to retire delays retirement for financial reasons, the employer faces estimated additional costs between $10,000 and $50,000.defined-elections

Our research shows that as employee’s overall financial wellness levels increase, so do contributions to retirement plans. Higher contribution rates reduce the likelihood of delayed retirement, since employees are more financially prepared. For younger employees, our research suggests that increases in contribution rates due to improved financial wellness could increase lifetime retirement savings by as much as 12 percent to 28 percent.

retirement-plan-balance-improvementsOur research also found that employees that engage repeatedly in their employer’s financial wellness program increase their likelihood of being on track for retirement—from 34 percent to 47 percent according to our findings*.  For a 50,000-life employer, this 13-point improvement could equate to a $6.5 million annual cost reduction related to delayed retirement.

 

 

POTENTIAL COST SAVINGS FOR HELPING EMPLOYEES RETIRE ON TIME

first-vs-second-assessment

13% (improvement in employees on track to retire)

X 10% (estimated % of workforce nearing retirement)

X $10,000 (estimated annual cost per employee for delayed retirement)

X 50,000 (average number of employees)

= $6,500,000

*Data based on study conducted for Fortune 100 employer using Financial Finesse’s services. Individual company results may vary.

Recruit, Retain, and Engage Top Talent

According to the 2016 Deloitte Millennial Survey, two-thirds of younger employees plan to leave their current job by 2020, with 25 percent saying they plan to leave in less than a year. Turnover costs companies money. Citing the research of W. F. Cascio, the SHRM Foundation’s report, Retaining Talent, indicates that “…direct replacement costs can reach as high as 50 percent to 60 percent of an employee’s annual salary, with total costs associated with turnover ranging from 90 percent to 200 percent of annual salary.” That puts costs anywhere between $45,000 and $100,000 when replacing an employee making $50,000 a year.  A 2016 Paychex survey found that approximately 70 percent of employees cited low pay as a reason they have left or would leave a job, and 45 percent  said they have or would leave due to a lack of benefits.

In our experience, most employees are dissatisfied with their pay and benefits because they haven’t fully maximized the value of what their company offers.  They leave thousands (in some cases tens of thousands) of dollars on the table annually by not taking advantage of free or low-cost benefits such as company matching programs, discounted voluntary benefits, health and wellness benefits, and the small benefits that add up over time like commuter benefits, free parking, tuition reimbursement and others.  The money they are foregoing could be the difference between sinking deeper into debt and proactively saving towards key financial goals.

Consider a scenario where a 50,000-life company with a 10 percent turnover rate institutes a comprehensive workforce financial wellness program.  If that program resulted in 50 fewer employees leaving the company (i.e., a 1 percent reduction in the turnover rate), it could equate to over $2.2 million in annual savings:

POTENTIAL COST SAVINGS BY REDUCING TURNOVER

 1% (projected reduction in employee turnover)

X 10% (turnover rate of employees)

 X $45,000 (estimated net cost to replace employee)

 X 50,000 (average number of employees) 

= $2,250,000

Measuring Your Organization’s ROI

Using Financial Finesse’s predictive model, companies can set research-based benchmarks for their financial wellness program, customized to their employee demographics and financial wellness levels. This starts with a Workforce Financial Wellness Assessment™ to determine the median levels of employee financial wellness and financial stress, followed by implementing optimal outreach based on your workforce demographics. Improving median financial wellness is a process that takes time – there aren’t instant fixes that happen in one quarter. Companies can integrate data based on key measurement variables and benchmark results on a year-over-year basis.  For the hypothetical 50,000-employee company discussed here who implements a comprehensive workplace financial wellness program according to industry best practices, pulling all those results together could result in total cost savings of nearly $28 million.

Garnishments  $                443,413
FSA/HSA contributions payroll taxes  $                887,229
Absenteeism  $             4,264,396
Health care  $          13,575,000
Delayed retirement  $             6,500,000
Turnover  $             2,250,000
Estimated Total  $          27,920,038

How Do You Make Financial Decisions?

March 04, 2016

For the last week, I’ve read a lot about Apple vs. the U.S. government regarding the request of the government that Apple build a back door into the phone of one of the San Bernadino killers. The case is very controversial and I understand why both sides feel so strongly. The government wants to break into the phone to see if there is evidence that can help understand and track down anyone who might have helped the killers. Apple is concerned that an important part of their products, a strong encryption that makes them very secure, could be no longer a strength if the encryption code they would write gets into the hands of the wrong people. Both sides have strong arguments, and I will keep my opinions out of this.  Continue reading “How Do You Make Financial Decisions?”

The Four Pillars of Making Habits That Stick

February 29, 2016

How important are daily habits to financial wellness? In my own financial wellness journey, they’ve been crucial. By changing my own habits, including my inner dialogue about myself and my income, how I managed my cash flow and how much I saved and invested, I altered my own trajectory. The primary reason I became a financial planner is that I believe other people can do it as well. Continue reading “The Four Pillars of Making Habits That Stick”

Why You Need a Plan B

February 26, 2016

I woke up one morning recently and scrolled through my emails on my phone before getting out of bed. I was shocked to see that one of my coworkers was involved in a hit and run accident. A car came barreling through an intersection, hit her car and drove away. She was injured in the accident and was, a day later, more upset that her workout routine was disrupted than being in a pretty major accident. Continue reading “Why You Need a Plan B”

What To Do Before You Say “I Do”

February 23, 2016

I am at a stage in my life where I can look back at my choices and say to myself, “What on earth was I thinking?” This is especially true when I think about past relationships. As I was talking to a group of young women who were recently engaged, I saw glimmers of my past relationships in their stories and thought to myself: what do I wish someone would had the courage to say to me that would had saved me from future pain? Continue reading “What To Do Before You Say “I Do””

How Understanding Your Personality Can Change Your Life

February 22, 2016

I’ve written frequently about how I changed my financial behaviors over time. Once someone who spent her paycheck down to the last penny, I became a successful saver and investor over time. That all happened because I changed both what I believed about money and what I was worth, as well as what I did in my everyday life to align my daily habits with those beliefs. Continue reading “How Understanding Your Personality Can Change Your Life”

The Number One Reason Couples Fight About Money and How to Stop

February 10, 2016

70% of fights within couples are about money according to a Money magazine poll, which really doesn’t surprise me. That’s one of the reasons our new book, What Your Financial Advisor Isn’t Telling You: The 10 Essential Truths You Need to Know About Your Money, dedicates a whole chapter to love and money. What surprises me is that so many people I talk to about this are unaware of the underlying issues that lead to these fights. Very rarely is it actually about the money. In my experience, it’s usually more about a difference in values relating to money.

Continue reading “The Number One Reason Couples Fight About Money and How to Stop”

4 Things An Actuary Can Teach Us About Money

February 08, 2016

In a post last week about how choosing the right life partner can be the most financially wise choice you ever make, I wrote about how my husband Steve is my financial inspiration. He truly is a “financial hero,” who’s made wise choices about money his entire life. I am continually impressed by his natural talents as a money manager. I came to my financial beliefs and behaviors the hard way, learning from missteps I made in my 20’s…not Steve. He was born this way – a sensible, long term, evidence-based investor.  Continue reading “4 Things An Actuary Can Teach Us About Money”

Are You Lip Syncing Through Your Financial Life?

February 05, 2016

I’ve recently become a huge fan of the show Lip Sync Battle. Seeing celebrities “sing” the hits of their favorite artists while doing some very entertaining dances is absolutely hilarious. While it’s one of my guilty pleasures and has led to some world class laughter (“The Rock” as Taylor Swift, Anne Hathaway as Miley Cyrus, Channing Tatum vs. Jenna Dewan Tatum), in one of my odd “connect the dots” moments, I realized that I was having a conversation with someone who was lip syncing her life. Continue reading “Are You Lip Syncing Through Your Financial Life?”

The Other Side of American Greed

January 18, 2016

Friday nights on CNBC, households all over the country are watching American Greed, the wildly popular documentary series narrated by Stacy Keach which tells the real-life stories of financial crimes and the effect on their victims. There have been episodes about Ponzi schemes, mortgage fraud, identity theft, insurance fraud and investment scams. Some of them tell truly heartbreaking stories, where the people who were victimized by the fraud seemed to be making wise decisions, only to be fooled by someone with criminal intent. In all the episodes, the message is clear:  there are hucksters and criminals who are out to steal your money — and you’d better be on guard. It’s an important message, one that we all need to hear. Continue reading “The Other Side of American Greed”

Can Your Friends Help You Become Financially Independent?

January 11, 2016

Can your friends help you become financially independent? Yes — if you choose the right friends. My fellow planner, Kelley Long, recently wrote a thought-provoking post about how financial frenemies can sabotage your financial wellness. “Much like starting a new diet or fitness program has a higher chance for success if you do it with a friend,” she wrote, “engaging your friends in financial habit changes could greatly increase the likelihood you’ll stick to it.” I couldn’t agree more. Continue reading “Can Your Friends Help You Become Financially Independent?”

How To Turn That Resolution Into Reality

January 05, 2016

I was talking to a group of girlfriends over an amazing cup of hot chocolate with melted chocolate on the bottom and toasted marshmallows on top. For a chocoholic like me, this was heaven. I will admit I focused more on the chocolate than the conversation, but after a few minutes, my financial planning ears perked up. My friends were talking about their top New Year’s resolutions, which was the same for all of them- to get out of debt. Continue reading “How To Turn That Resolution Into Reality”

2016 New Year’s Resolution: Deal With Paper Daily

January 04, 2016

What’s my financial New Year’s Resolution for 2016?  It’s all about dealing with paper. Much of daily life really does come with an instruction book, helpfully printed in four languages. Plus it comes with legal disclosures, bills, prospectuses, receipts, health insurance notifications, magazines and professional journals. Continue reading “2016 New Year’s Resolution: Deal With Paper Daily”