Personal Finance Tools Review: Mint

February 10, 2014

Mint is one of those financial tools that I have talked about so much since they appeared on the online budgeting scene that I often take for granted the fact that not everyone out there knows about their service. This week, we will look at Mint and review some of its most popular features. Mint has been around since 2007, boasts over 10 million users and has numerous awards, which is great and all, but all that really matters if you have an account is one thing – are you taking control of your money and making the smartest decisions possible? Here is a little more information about how it works and how you can potentially use Mint to help you reach your most important financial life goals. Continue reading “Personal Finance Tools Review: Mint”

Are You On a Dying Career Path?

January 24, 2014

I’ve had the opportunity over the holiday break to talk with my daughter about her future. She’s a freshman in college this year and living away from home has been a bit of an adjustment. Another thing that has adjusted a bit is her potential choice of major. Since she was 4 years old, she has been convinced that she wants to teach kindergarten or at least younger children.  As she’s gotten older and had some classroom experience (as an intern during her senior year of high school and through a class in her freshman year of college) she still enjoys the children.  Continue reading “Are You On a Dying Career Path?”

Why Gen X Isn’t Doomed

January 20, 2014

Last week, Financial Finesse released our annual Generational Research Report and all I can say is, “I resemble that remark.”  The good news of our findings is that my generation, Gen X, is getting better across all areas of financial wellness.  The bad news is that we were the hardest hit generation by the Great Recession and we are lagging our counterparts in many areas, especially cash management. Continue reading “Why Gen X Isn’t Doomed”

7 Steps For Millennials to Define Their Financial Future

January 16, 2014

Over the last two days, we discussed the Baby Boomers and the Generation Xers. Finally, let’s take a look at the newest generation to enter the workforce: the Millennials.  Like the other age groups, not saving enough for retirement is the biggest vulnerability facing Millennials. However, they’re the only generation that doesn’t seem to know it as Millennials ranked more urgent needs like managing cash flow, getting out of debt, and investing as higher priorities. Here are some steps Millennials can take to strike a better balance between the needs of today and tomorrow: Continue reading “7 Steps For Millennials to Define Their Financial Future”

7 Steps for Generation Xers to Reclaim Their Financial Future

January 15, 2014

Yesterday, we provided financial tips for the Baby Boom generation. Today, we take a look at Generation Xers, who are suffering the double whammy of experiencing tough economic times at a particularly vulnerable financial stage of life. While most Millennials were too young to own stocks or real estate during those market crashes, and Baby Boomers enjoyed decades of growth in both assets throughout the 80s and 90s, many Gen Xers had the misfortune of starting their investing just as both markets were peaking. This comes at a stage of life in which a majority of Generation Xers own a home (translate: have a mortgage payment) and have minor children (translate: extra mouths to feed). So if you’re  a Gen Xer, here are some moves to consider: Continue reading “7 Steps for Generation Xers to Reclaim Their Financial Future”

7 Steps For Baby Boomers to Secure Their Financial Future

January 14, 2014

This week, Financial Finesse is releasing our second annual generational research report so over the next few days, we’ll be addressing in our blog how each generation can overcome their unique challenges and take advantage of the opportunities they face. Today, we’ll start with the Baby Boomers, the last of whom will be celebrating their big 5-0 this year. In addition to now being able to apply for their AARP cards for discounts on eating out and travel, here are some more critical tips for their financial wellness: Continue reading “7 Steps For Baby Boomers to Secure Their Financial Future”

Some Things to Think About In the New Year

January 10, 2014

As I was surfing the Internet during a snowstorm, I read an article about a plane that skidded off a runway. There was also a plane that landed on a highway in New York recently. Fortunately, there was no one seriously hurt in either incident but as someone who flies a lot for business, seeing these stories always gives me a moment of pause…as does thinking about the loss of friends along the way, at ages that were far too young. Continue reading “Some Things to Think About In the New Year”

7 Ways to Blow Your New Year’s Resolutions

January 06, 2014

Did you make any financial New Year’s resolutions this year?  According to Fidelity, approximately 54% of Americans planned on making one this year. Whether you avoid making New Year’s resolutions or embrace the challenge of making financial changes in the New Year, we all have financial goals that require some attention. Continue reading “7 Ways to Blow Your New Year’s Resolutions”

How I Plan to Kick Off The New Year

January 02, 2014

A new year often brings new changes. In fact, some research shows that we’re more likely to initiate changes in our behavior during the beginning of a time period like a year, month, or week. Here are 3 steps I plan to take this month to kick off the new year: Continue reading “How I Plan to Kick Off The New Year”

A New Way For Couples to Manage Their Finances in 2014

December 30, 2013

The holidays present numerous financial challenges, not to mention the positive and negative stress associated with spending some quality time with friends and family. (Insert your own mental image of Cousin Eddie from Christmas Vacation here.) Generosity is a wonderful characteristic to possess, but if left without monitoring, it can lead to overspending and debt. Additionally, travel costs can be expensive if you hit the road or the occasionally friendly skies to be with family.  There is a well documented outbreak of financial stress and regret that occurs every January in our consumer-driven culture when the reality of holiday spending arrives in the form of a credit card statement. Continue reading “A New Way For Couples to Manage Their Finances in 2014”

The Best Laid Plans…

December 27, 2013

As someone who did some online shopping this year, I read this article about gifts that didn’t arrive in time for gift giving and felt a great sigh of relief.  I can’t imagine getting to my mother’s house completely empty handed on Christmas Day.  The people who ordered their gifts online, with a “guaranteed” delivery prior to Christmas, and didn’t receive their items probably didn’t have the joyous holiday they expected. There was probably a bit of anxiety and disappointment mixed in with their holiday. Not that the season should be all about gifts…but the reality of where we are as a society places an undue emphasis on a commercialized Christmas.  (My opinion!)  This article made me think about not just my view of the holiday season, but of life in general. Continue reading “The Best Laid Plans…”

Did You Find a Little Extra in Your Stocking This Year?

December 25, 2013

As the year winds down, some employees may find a little extra in their stockings this year in the form of profit sharing, year-end bonuses, or other such windfalls.  Such surprises may leave them wondering “What should I do with this?”  Well, if you’ve managed to stay on the nice list all year, here are a few ideas as to what you can do with this extra bit of Christmas cheer: Continue reading “Did You Find a Little Extra in Your Stocking This Year?”

What You May Want to Discuss Around the Thanksgiving Table

November 20, 2013

Thanksgiving is right around the corner, and if you are like most traditional American families, you’ll probably eat too much, watch a game or two on the TV, and simply enjoy spending some quality time with each other. For some families, spending quality time together happens regularly, but for many, including my own, it usually only happens around the holidays.  If that is the case for your family, one thing you may want to do this holiday season is discuss long-term financial goals. It may not seem like the most enjoyable topic of conversation around the dinner table, but with more and more uncertainty about the future, it may be one of the more important conversations you will ever have in your life. Continue reading “What You May Want to Discuss Around the Thanksgiving Table”

“Rules of Thumb” Can Make Financial Planning Simpler

November 13, 2013

One of the many hats I wear around the Financial Finesse office is that of a fact checker.  Before we publish an article or release new content, I am frequently asked to verify any factual information it may contain.  In some instances, the information I am asked to verify is absolute. For example, the IRS has recently released 401(k) and IRA contribution limits for 2014: $17,500 (or $23,000 if age 50+) and $5,500 (or $6,500 if age 50+), respectively. At other times, the information we include in our publications is based on generally accepted financial planning principles—what we typically refer to as “rules of thumb.” Continue reading ““Rules of Thumb” Can Make Financial Planning Simpler”

Hey Mr. Planner, What’s in Your Bag?

November 04, 2013

I’ve always been fascinated by the game of golf or what Mark Twain referred to as “a good walk spoiled.” During childhood, I would spend hours at a time out in my yard creating my own imaginary course designs and pretending that I was at Augusta National competing for the coveted green jacket.  (My parents and neighbors were probably grateful that I was using plastic golf balls at the time as my errant shots often landed on cars and houses.)  Continue reading “Hey Mr. Planner, What’s in Your Bag?”

What Eating Halloween Candy Can Teach Us About Financial Success

October 31, 2013

When I was a little kid, I used to look forward to being able to gorge on all my Halloween candy. It didn’t take long for me to realize what economists call “diminishing marginal utility.” Each additional piece of candy would bring me less pleasure than the last. It would eventually get to the point where eating more candy would only make me feel sick. Continue reading “What Eating Halloween Candy Can Teach Us About Financial Success”

Is Optimism Helping or Hurting Your Financial Plan?

October 28, 2013

A couple of weeks ago,  I discussed the important role that our thoughts and beliefs can play when it comes to working toward important financial goals. While an optimistic outlook is associated with many positive outcomes related to our health and wealth, as with most things in life, moderation is the key when it comes to optimism related to our personal finances.  Here are some questions to help determine if your optimism is helping or hurting your personal finances: Continue reading “Is Optimism Helping or Hurting Your Financial Plan?”

Do You Have a Financial Plan or Financial Gridlock?

October 21, 2013

It is déjà vu all over again with the debt ceiling debate having reared its ugly head once again. In my opinion, when it comes to the financial stability of our nation, it doesn’t matter if you lean to the left, lean to the right or are somewhere in between with your political views (or if you are completely indifferent to political dialogue).  The reality is that something needs to get done to end the gridlock in Washington that impacts every American.  Continue reading “Do You Have a Financial Plan or Financial Gridlock?”