Is a Big Fish Sinking Your Financial Boat?

February 01, 2013

The photo accompanying this article is pretty striking.  Fish sinks boat!  Marlin 1, Boat 0. It reminds me of a newspaper article I saw many years ago titled “Deer Shoots Man” that talked about a hunter who leaned his rifle against a tree while taking a quick bio-break, and as he walked away, a deer ran past the tree causing his gun to fall and fire a shot directly into his gluteus maximus.  Continue reading “Is a Big Fish Sinking Your Financial Boat?”

Which of Your Actions Fail the “Piggy Bank Test?”

January 25, 2013
The other day I was looking through some boxes that I hadn’t opened in a few years and I found an old piggy bank that I had from very long ago.  I opened it and there was about $30, all in dimes, inside the piggy bank.  I vaguely recall being a fan of dimes a long time ago.  They are our smallest coins and “pound for pound” give the highest value /size ratio in the world of U.S. coins.  I started to think about the logic behind piggy banks and a few things hit me. Continue reading “Which of Your Actions Fail the “Piggy Bank Test?””

Credit Score Myths That Drive Me Crazy

January 18, 2013

When I meet with people who are dealing with building credit for the first time or rebuilding/repairing their credit after some financial misadventures, we often talk about the components of their credit score and how they can make an impact on that score.  Fairly often, someone will say “I have heard…” and then tell me something they’ve heard about credit scores.   After hearing the same “I have heard” items or myths repeatedly, I thought it might be a great time to address a few of them so that you can start the new year with a few facts instead of myths. Continue reading “Credit Score Myths That Drive Me Crazy”

Preparing For the Next “Fiscal Cliff”

January 02, 2013

The fiscal cliff may be resolved but the deal only makes our “national debt cliff” even bigger. While we all hope our politicians can find a way to implement the necessary changes to reduce our national deficit AND national debt, we all must be prepared for how these changes will affect our lives.  It’s been said that if we don’t learn from history, then we are destined to repeat it.  We should not let the valuable lessons of our most recent recession and now current financial pickle go unlearned.  These are some steps I encourage you to consider taking as a way to prepare for what lies ahead, no matter how things unfold: Continue reading “Preparing For the Next “Fiscal Cliff””

A New Year, A New Attitude About Electronic Games

December 26, 2012

This Christmas has been a little rough on the Ward family.  On the one hand, you love to give your children everything they want for Christmas, but on the other hand, you know that giving your child everything they want is a surefire way to spoil them.  My wife even commented on how she has not had quite the same level of joy this year shopping for the kids as she has in previous years, and when you look around our house and see all the forgotten toys and gifts from Christmas past, who can blame her?  You want to give your kids what they want, but you also want the gifts to be appreciated and to be edifying in some way. Continue reading “A New Year, A New Attitude About Electronic Games”

Some Important Things to Focus On This Week

December 24, 2012

The focus  for many around the holidays is family, food and fun not finances.  This is as it should be because even though life requires a lot from us, it is meant to be enjoyed. Although we are striving to always save more, manage our money better,  insure against losses, and get our necessary papers in order, it’s also important to stop and smell the roses (as they say). Continue reading “Some Important Things to Focus On This Week”

Daydream! It’s worth it…

December 14, 2012

Sometimes the best things in life start with a great idea or vision.   Recently I have become a huge fan of the “Spotify” music service. This article talks about how the founder of Spotify wanted to create something that combined his two loves, music and technology, and bring the world something better than music piracy.   And, since he wasn’t really good at playing music, being a rock star was out of the question!  So, he did the next best thing and created a music company. Continue reading “Daydream! It’s worth it…”

What We Can Learn From the Top 25% of Credit Scorers

November 02, 2012

One of the things that I believe is that one of the best ways to learn how to do something well is to learn from someone who is already doing that thing very well.  It’s a long established tradition.  When we want to improve our golf game, we get lessons from a pro.  When we want to make progress in our fitness levels, we can work with a personal trainer.  When we want to create a new dinner, we can turn on the Food Network and, after salivating because of the absolutely amazing way that some of the dishes are prepared, find a new dish to put on your dinner table.  This concept can be translated directly into the financial world and recently it has.  This article from FICO talks about the habits of those with credit scores over 785, which places them in the top 25% of all credit scores.  Continue reading “What We Can Learn From the Top 25% of Credit Scorers”

What I Learned From Being a Victim of Identity Theft

October 26, 2012

A few years ago I was the victim of identity theft. Someone in Texas (where I’ve never lived…) was using my name and Social Security number and had gotten an apartment, satellite TV, utilities, and accounts with some local food establishments.  Oh, they went to the doctor a lot too.  Continue reading “What I Learned From Being a Victim of Identity Theft”

Help Your Child Establish Credit Early

September 10, 2012

My son is frustrated and I think probably a bit mad at me (but he didn’t come out and say that). He just graduated from college and found out he has a credit score of 587.  That is a terrible score but then again, as I told him, he is a terrible credit risk. Why should he have a good score?  He just graduated, moved to a new city and got his first paycheck.  What bank would take a chance on him? Continue reading “Help Your Child Establish Credit Early”

What I Overheard at Panera…

August 31, 2012

I was sitting in a coffee shop the other day trying to get some work done.  The power at my house was out because of some pretty wicked storms, so I had to relocate to my local Panera for a great salad and lots of coffee.  For those who haven’t been to Panera, it’s a pretty wide open place and you can often overhear the conversations of others.  I tend to be a “glass half full” kind of guy and I’m always looking for ways to solve problems.  My kids know that if they come to me with a problem, my first question is going to be “what do you think you (we) could do to fix that problem?”  (I am hoping to help raise future problem solvers.) Continue reading “What I Overheard at Panera…”

Protecting Older Loved Ones

August 23, 2012

It’s hard to be productive at work when financial worries accompany you to your desk. It’s hard to let go of concerns about a sputtering economy or uncertainty about taxes, particularly if you start your work day with a newspaper. Continue reading “Protecting Older Loved Ones”

The Dictionary Now Includes What???

August 17, 2012

I was in the car today and I heard a quick news story about some new words being added to the dictionary. “Brain cramp,” “bucket list,” “energy drink,” “life coach.” and “aha moment” were added to the dictionary, and the most talked about “new words” are “F-bomb,” “sexting,” and “man cave.” I have a feeling that if my high school English teacher weighed in with her opinion of these new words, her opinion would not be favorable.  She was not a fan of “can’t,” “wouldn’t,” and “should’ve.” She preferred that we write both words without the apostrophe rather than use the contraction.  She felt that we were getting lazy with our language and that traditional, established English had more than enough words to adequately express anything that you want to express.  Sometimes evolution/progress is good, sometimes…not so much.  That goes for our language as well as our financial lives! Continue reading “The Dictionary Now Includes What???”

Financial Lessons From a Six Year Old

August 15, 2012

Today’s blog post is the last in a series of posts sharing the results of interviews I’ve conducted with my four children on the topic of money.  As you may recall, my oldest, Rachel (14), is a saver, and looks at money as something to be used for necessities.  David (12) is my value hunter, and prefers to buy things that have a lasting quality.  Ethan (9) is more of a spender, willing to use any money he has to buy things he wants right now.  Bringing up the rear is Jacob. Continue reading “Financial Lessons From a Six Year Old”

A 9 Year Old’s Perspective on Money

August 08, 2012

So far I’ve learned a lot about my two oldest children in the last couple of weeks.  I’ve learned that Rachel is a spendthrift and sees money as a means to necessities.  David, on the other hand, is a value hunter and wants to know that whatever he spends his money on is going to last. Continue reading “A 9 Year Old’s Perspective on Money”

The Brady Bunch and My Observations On a Younger Generation

August 03, 2012

The Brady Bunch is coming back!!!  I was very excited to read about that!!! As a kid, I was a huge Brady Bunch fan and if I see it on when I’m scrolling through the channels, I almost always stop and watch for a little bit. I even think Marcia Brady might have been my first celebrity crush. The show is just an absolute classic.  My kids even like it.  And, I can still sing the theme song without hesitating on the lyrics. (For your own protection, I absolutely won’t link an MP3 file here so that you can hear my rendition; your ears would bleed…) Continue reading “The Brady Bunch and My Observations On a Younger Generation”

Why I Hate Credit Scores

July 20, 2012

Some of the most frequently asked questions that I hear in my individual financial coaching sessions deal with credit scores.  How can I improve my score?  If I mess up, how badly is my score hurt?  How long does it take for my score to improve once I get my act together and start having great financial habits?  These are all very good and very relevant questions for many people.  But one of my longer term goals in life is to have no use for a credit score and to not care one little bit what my credit score is.  Continue reading “Why I Hate Credit Scores”

What I Learned From a Bad Movie!

June 29, 2012

Over the last weekend, I had the pleasure of seeing a new movie.  I really love going to the movies, but I rarely do it.  And when I do, it’s usually a Disney or Pixar movie with my kids.  So, it was a rare treat for me to get to go out with a friend and see a non-animated movie.  Being completely clueless about what movies were in theaters now, I deferred the decision to my friend who chose “Abraham Lincoln: Vampire Hunter” in 3D.  She had read the book and loved it, and she knew that I like historical fiction – books that take historical events and get “creative” with it. Continue reading “What I Learned From a Bad Movie!”

The Right Ingredients for Overcoming Debt

June 06, 2012

Although there are some that say the recession is behind us, there are still others that are continuing to deal with its effects. I recently had an opportunity to speak with a gentleman who finds himself behind the 8 ball when it comes to debt. This is not the first time I’ve received a call like this, nor will it be the last, but what makes this particular call stand out is the way this person has decided to approach the situation. His attitude and determination should be a lesson to us all. Here is his story: Continue reading “The Right Ingredients for Overcoming Debt”