Science has proven that the more time you spend with people, the more likely you are to emulate their traits. There’s even an entire PSA campaign focusing on the peer pressure aspect of money. (The Game is my favorite.) Continue reading “Do You Have Financial Frenemies?”
Even though interest rates are likely to begin rising again (haven’t we been saying that for a couple years now?) mortgage rates are still reasonable, and buying a home these days is still cheaper than renting in most areas, providing you’re planning to stay for a bit. Buying a house is more than just a financial decision, but if after considering all the factors, you’ve decided that now is the time to buy, prepare yourself for the mortgage application process. And I mean gird yourself because it is a royal pain. Here’s what to expect: Continue reading “5 Things to Know About Applying for a Mortgage”
Joining the planner team at Financial Finesse was a game-changer in my career and in my life. After years of frustration and creative effort to find ways to provide people with unbiased truth about how to make the right financial decisions for themselves, I’m finally free of the shackles of compliance, the pressure to sell and the need to gather assets. The sad reality is that there are very few avenues where financial planners can provide unbiased information while making a living and staying within the regulations of their industry. Continue reading “3 Things I Didn’t Tell Clients as a Financial Advisor”
One of the less fun areas of financial planning is also one of the most important parts: protecting yourself against financial disasters with insurance. Life insurance is even more of a downer to consider because in order to have it pay off, someone has to actually die. Ugh.
Continue reading “Financial Rules of Thumb: How Much Life Insurance Do You Need?”
Continuing my financial rules of thumb series, this week let’s talk about a question that pretty much every person has asked me on our Financial Helpline: How much should I be saving for retirement and how much do I need total? While the answer varies depending on each person’s circumstances, goals and ultimately their values, there are some rules of thumb for those who either don’t feel like running a retirement estimator calculation or who just aren’t quite sure yet what their goals are. Continue reading “Financial Rules Of Thumb: Retirement Savings”
You may not view it as an employee benefit, but discount insurance programs could be a valuable part of your overall benefits package. Employers and other large groups are often able to negotiate much lower rates simply because the risk is spread out over a larger pool than if you just purchased the policy as an individual. Examples of discounted insurance policies you may be able to realize through work include homeowners or renters, auto, umbrella and even pet insurance. Here a few things to consider about these perks: Continue reading “5 Things To Know About Group Insurance Discount Programs”
A popular component of many employers’ wellness programs is a discount on membership to local fitness centers and/or weight loss programs, which can be a great way to save some money toward your financial goals. If you’re currently paying a gym membership or using a program such as Weight Watchers, definitely check to see if you can get a discount through work. It’s a no-brainer. Our health insurance benefit at Financial Finesse actually offers a $20 per month rebate on participating gyms but in order to receive it, participants need to attend the gym at least twelve times per month. For many people, that’s the motivation they need to show up! Continue reading “Making the Most of Your Employee Discount Programs”
Despite the inflation of college tuition far outpacing the growth of wages, having a bachelor’s degree is still one of the best ways to boost earning power and job opportunities. A 2014 report found that a person with a bachelor’s degree earns over $20,000 more per year on average than someone with just a high school diploma. One way to help defray the cost of college is to take advantage of your employer’s tuition reimbursement program, but before you do, here are some questions to answer: Continue reading “5 Questions to Ask About Your Employer Tuition Benefit”
When my colleagues, Scott and Tania, joined this Last 10 Buys Challenge on Forbes, I took a look at my spending and initially thought, “No way…this looks BAD!” But then I thought about how I actually like it when my instructor at the gym confesses to struggling with her diet so I figured I should bare it all with thoughts on how I could have done better. Here are the last 10 things I spent money on this week:
Have you ever heard the rule of thumb that says you should wait 30 minutes to swim after eating? Or don’t leave your Christmas lights up past Martin Luther King, Jr. Day? Perhaps you’ve read some of the arguments both for and against the edict to drink 8 glasses of water per day. And of course, there’s the rule that gets a lot of kids in trouble: question authority. But while these rules may not always ring true, generally speaking, they are good guidelines for getting you through life a little easier. Continue reading “Financial Rules Of Thumb: Saving For College”
Figuring out how to prioritize the various things you could do with your money is one of the key quandaries of individual financial planning. Should you use extra money to pay off your car loan, boost college savings for your toddler or finally take that trip to Australia? There are countless options, depending on your individual values and goals. But before working toward any of those goals, there are four aspects of your finances that should be in place, no exceptions: Continue reading “4 Financial Ground Rules For Everyone”
As newlyweds, my husband and I are just getting started on our money journey. To get and stay on the same page, we have a bi-weekly money meeting where we dig into our finances, which saves us from money fights and also keeps us accountable to completing tasks needed to get us to our goals. One thing we’re working on is creating our family financial plan to make sure we are fully aligned on money going forward, using these 8 steps. Even if you’re not a newlywed, you can follow these steps to get a plan in place for your family. Continue reading “The 8 Step DIY Financial Plan for Newlyweds”
Last week, while attending the Illinois CPA Society annual conference, I had the privilege of seeing Frank Abagnale, the con artist turned FBI agent on whom the movie Catch Me If You Can is based. He shared some alarming statistics with us about white collar crime and especially identity theft.
Continue reading “Identity Theft Tips From A Former Con Man”
Using credit cards that allow you to accumulate rewards or cash back is a great way to get more bang for your buck. It totally works as long as you start out with no credit card debt and stay that way. But this is also how many people end up in debt in the first place. (There’s a reason that card companies offer those plush rewards.)
The issue of paid maternity leave was in the news again last week when Netflix announced it was giving most of its workers a full year of paid leave upon the birth or adoption of a child. I’d like to think this is a growing trend for American companies and that by the time I’m ready to take maternity leave (no, Mom, this is not an announcement), it will be the norm instead of news. But the reality is that most workers who receive a maternity leave still only get the FMLA-mandated 12 weeks off and then only sometimes with pay. This means that in addition to planning for the added expense of a new person in your family, having a baby includes planning for a temporary (or sometimes permanent) reduction in household income. Continue reading “How Non-Netflix Employees Can Plan For Maternity Leave”
For my inaugural post on the Financial Wellness @ Work blog, I thought I’d give a little insight into how I landed at Financial Finesse. Here are the top 3 reasons I LOVE my job: Continue reading “The Top 3 Reasons I Have The Best Job”
