Spin Out in the Snow – Should Have Taken the Extra Rental Car Insurance

January 23, 2012

We all have something of a teenager mentality in us, “It won’t happen to me.  I am invincible!” I suppose you have to have some attitude or you’d never leave the house.  I did leave my house yesterday in a snow storm because my husband and I had tickets to a film showing at the Sundance Film Festival.  We specifically chose a film at the Sundance Resort for Saturday rather than a film in the town of Park City because we wanted to experience the ambiance of founder Robert Redford’s Sundance Resort viewing room.  This meant a 40 mile drive down Provo Canyon in a snow storm. Continue reading “Spin Out in the Snow – Should Have Taken the Extra Rental Car Insurance”

Is Love Draining Your Money?

January 16, 2012

This is an extreme example. I’ll say that right up front but there are lessons here we can all take away.  Yesterday, I took a call to our financial helpline from a caller who was having trouble making ends meet.  She said that she made good money but was always scrambling at the end of the month to get her bills paid.  As I always do, I started asking her questions not only to get to the root of the problem but to tap into her strengths.  Building on people’s strengths is a much better way to achieve real behavior change than to focus on only the problem and the obstacles.  Anyway, long story short, the root of the problem soon emerged. Continue reading “Is Love Draining Your Money?”

Your Annual Money Review: The Best and Worst of 2011

January 09, 2012

What incredibly good money decisions did you make last year?  In their book Switch, Dan and Chip Heath suggest for organizations that want to change to look for the “bright spots” in the organization and study them.  In a sales organization, if you have someone who triples their sales or in the audit department, you notice someone catching errors that save the company tons of money, study them.  Find out what they are doing that is different.  Take the concept and apply it to your own finances. Continue reading “Your Annual Money Review: The Best and Worst of 2011”

Financial Dreams Come True with New Year’s Resolutions That Stick

January 02, 2012

After the Fourth of July and Christmas, New Year’s Eve is my favorite holiday. The Fourth of July because I am a Navy brat and grew up in a very patriotic family (we’ve always celebrated our country’s Independence Day), Christmas, well, that one is kind of obvious, and New Year’s Eve for the clean slate it brings to start a brand new year. Many people don’t like to make resolutions, but I do since I am a student of behavior change. How people can break out of their mold and start good habits while letting go of bad ones has always fascinated me. New Year’s Day, or at least January 2nd, is a great time make changes in your personal finances. Continue reading “Financial Dreams Come True with New Year’s Resolutions That Stick”

Money is Only Money

December 26, 2011

When I realized that I’d be posting this blog on Christmas, well at least the legal holiday since the spiritual holiday was Sunday, I thought it was a great opportunity to talk about values.  A season of celebration gives time for reflection on what is important to each and every one of us.  Whether or not you celebrate Christmas isn’t the theme here.  What is important is the question, “Why?”  Why are we doing this?  Why are we saving and investing?  Why are we sacrificing for tomorrow?  Why do we have to learn about our benefits at work and plan our estate?  It all seems like a chore sometimes. Continue reading “Money is Only Money”

How You Unknowingly Sabotage Your Finances

December 19, 2011

My husband and I are simplifying our lives – we went from a 5 bedroom 3 bath house to a two bedroom condo.  We gave our kids the extra furniture and other possessions we don’t need, and what they didn’t want went to charity.  Instead of keeping china and crystal in a hutch (or in the closet) to sit and gather dust, except for twice a year for a holiday celebration, we are using it every day now.  Otherwise, it will be passed on to our children who might not ever use it either!  Life is slower and our pot roast and potatoes are displayed much more elegantly. Continue reading “How You Unknowingly Sabotage Your Finances”

FSA: Use It, Don’t Lose It – 5 Ways to Use Your FSA by Year End

December 12, 2011

As the year comes to a close, many people are decorating their homes for the holidays and stocking up their pantries for company.  Others who have Flexible Spending Accounts are scheduling colonoscopies instead!  What gives?  Since the FSA has a “use it or lose it” clause, the funds must be used for health purposes by the end of the year (however most plans give an extension for  6 – 8 weeks into next year).  So to take the full benefit of the funds set aside in the FSA, the funds must be spent soon. Continue reading “FSA: Use It, Don’t Lose It – 5 Ways to Use Your FSA by Year End”

Who Pays When Your Tree Falls on Your Neighbor’s House?

December 05, 2011

If a tree falls in a forest and no one is around to hear it, does it still make a sound?  That interesting  question is a philosophical thought experiment.  A question that is more relevant to everyday life is, “If my tree falls on my neighbor’s house, who pays for the damage?”  That particular question is very relevant to the citizens of Davis County, Utah, just a few miles north of Salt Lake City.  The whole town was without power last week after being hit by a freak 100 mph wind storm. Continue reading “Who Pays When Your Tree Falls on Your Neighbor’s House?”

The Wardrobe Capsule – A Smart Way to Look Fabulous While Spending Less

November 28, 2011

I had never heard of a wardrobe capsule until last week.  I’ve heard of time capsules, of course.  In high school, my friend and I put together a “memories time capsule” to remember the academic, social and athletic events of our high school years.  Turns out the time we spent documenting the music was a waste of time.  Who knew that today we’d all be listening to classic rock anyways?  A favorite “music” memory of mine was going through a fast food drive-thru with my two pre-teen sons while Lynyrd Skynyrd’s Freebird came on the radio.  I excitedly told them how cool the song was and I could see them through the rear view mirror rolling their eyes at how completely out of touch their Mother was until, of course, we got to the famous guitar solo.  They changed their tune after that. (Pun intended.) Continue reading “The Wardrobe Capsule – A Smart Way to Look Fabulous While Spending Less”

How to Enjoy Black Friday without Going into the Red

November 21, 2011

Black Friday has been a shopping tradition for many years.  I remember when my son, Brian, was a baby and we were visiting my parents, he was rather fussy and was driving my father crazy.  So the day after Thanksgiving, he went into town to purchase a baby swing at Toys R Us ®.  That was 23 years ago and he hasn’t forgotten it!  He thought the baby was fussy, Black Friday shoppers are in a league of their own – they were then and they are now, so he now knows to stay out of the way or stay home.  He did come home with a swing which made the rest of our Thanksgiving holiday weekend much more pleasant. Continue reading “How to Enjoy Black Friday without Going into the Red”

The Most Important Lessons in Life are the Unspoken Ones

November 14, 2011

My mother-in-law, Stella Anderson, passed away in her sleep last month with her family at her side at the age of 97.  She was dearly loved and will surely be missed.  At her memorial service, her granddaughter (my niece) Britt Anderson spoke lovingly about lessons she learned from her grandmother which made me reflect on some of my own – financial lessons I picked up from her over the years.  Some of the lessons Stella taught her grandchildren were intentional, of course, but other lessons were learned from observing how Stella lived her life.  Britt shared the “intentional” ones first: Continue reading “The Most Important Lessons in Life are the Unspoken Ones”

A Bear Market is Your Friend

November 07, 2011

A friend of mine posted this comment on Facebook last week “Yeah!  The market is up 345 points! Finally it is going in the right direction.”  Well, I was NOT happy at all to hear this news.  You see, that day (Thursday October 27th) was the day our company made its annual contribution for all of our employees – the employer matching contributions to everyone’s 401(k). I was certainly happy to receive a company contribution but not so happy about the timing. Because mutual funds pick up the end of day pricing, that means everyone in our company received a contribution to their 401(k) AFTER the market went up that day.  If the contribution had been made a day earlier, all of us who invest in stock funds would have been over three percent richer. Continue reading “A Bear Market is Your Friend”

Are You Married to a Spender?

October 31, 2011

What do you do if you are married to a spender and you are a saver?  Last week I met a woman (I’ll call her Paula) during a worksite financial planning session, and she complained about this very thing.  Having money in savings is a high priority for her – she has four months of emergency funds saved and has a dent in the down payment for their future house.  She is recently married to a spender (I’ll call him Rick) and is starting to feel resentful because the burden for saving is on her. Continue reading “Are You Married to a Spender?”

How Being a Pro at Fantasy Football Can Translate to Investing

October 24, 2011

This is my third year playing fantasy football so I am no longer a novice.  When I finished second to last my first year, no one took notice because they figured I was a rookie and of course, a girl who doesn’t know anything.  They were right.  Last year in a complete surprise to everyone, especially me and especially to my husband, I took first place.  A big shout out in thanks to Sebastian Jankowski the kicker for the Oakland Raiders, who if you looked at the points he brought in, you’d have thought he was a running back, and to my quarterback Jay Cutler Chicago Bears who had a great season last year.  This is a new season with new challenges, and once again I am holding my own and enjoying playing in my family league.  Truthfully, I like to play to stay connected with family and friends, and I have to admit that I love to “trash talk.” Continue reading “How Being a Pro at Fantasy Football Can Translate to Investing”

Nine Key Financial Steps That Procrastinators Miss

October 17, 2011

Yesterday I went to get a mammogram; the annual “boob smashing” is what I call it.  The process isn’t fun so for any of you who haven’t had one, a mammogram basically consists of smashing your breast between two plates painfully stretching your skin along the way, then you are left standing there while the technician walks away.  She ducks behind a machine that reminds me of the wizard of oz behind the curtain.  She then tells you not to breathe (oh sure, relax!!) and hold perfectly still, all the while you are held captive in a strange kind of vice.  If that isn’t enough, they do it again from a different angle and on the other side.  Continue reading “Nine Key Financial Steps That Procrastinators Miss”

Estate Planning: Governor Brown Has Enough To Do

October 10, 2011

Around the water cooler at the office yesterday, I was congratulating one of my co-workers on her child’s second birthday.  It seems like yesterday when she was pregnant, went into labor a few weeks early at work and we were all running around like chickens with our heads cut off so she almost needed to drive herself to the hospital!  It was something out of a “Three Stooges” comedy.  She made it to the hospital and everything turned out just fine. Continue reading “Estate Planning: Governor Brown Has Enough To Do”

Life is Not Short – Life is Long So Make Good Money Decisions

October 03, 2011

You’ve heard the saying, “Life is short so don’t waste time worrying” or “Life is short so enjoy every minute of it.”  When I was listening to Frank Abignale, Jr., the convicted felon turned distinguished FBI agent (I wrote about him last week) and the subject of the movie, Catch Me if You Can, give the keynote address at the Financial Planning Association conference, I heard him say the opposite.  He said, “Life is long.”  Then he went on to say, “Life is long so make good decisions.”  Continue reading “Life is Not Short – Life is Long So Make Good Money Decisions”

Identity Theft Prevention Tips from a Convicted Felon

September 26, 2011

I’d never really thought about living in an unethical country before, until I heard Frank Abagnale speak.  Frank is the subject of the film “Catch Me if You Can,” who went from being the FBI’s most wanted forger, stealing millions of dollars and flying all over the world posing as a Pan Am Pilot, to a well respected 35 year veteran FBI agent, and expert on forgery, embezzlement and secure documents.  He declared, “We live in an unethical country” during the keynote address at the Financial Planning Association’s annual conference in San Diego last week. Continue reading “Identity Theft Prevention Tips from a Convicted Felon”

A View From the Road: When the Economy Starts Moving Again, You Won’t Want to Be Left Behind

September 19, 2011

I am not entirely surprised with the news that no new jobs were created in August, if my view from the road this past week was a microcosm of the rest of the country.  Over the past week, I moved from Northern California to just north of Salt Lake City, Utah.  My husband and I plan to retire here.  We figured, why wait, and put in to be transferred to the Mountain states.  We rented out our home in California, packed up and moved to our condo. Continue reading “A View From the Road: When the Economy Starts Moving Again, You Won’t Want to Be Left Behind”

Some Serious Disaster Preparedness Ideas Everyone Can Use

September 12, 2011

On my first Sunday morning in Utah, I wasn’t expecting to see a booklet on preparing for an earthquake.  Coming from the earthquake capital of the US, California, I thought it very strange to read how the Wasatch Fault hasn’t had more than a hiccup in 200 years, but the residents here are doing some serious disaster preparedness anyways, including being involved in the Great Utah Shake Out earthquake preparedness day coming up in April of next year.  With all the natural disasters we’ve seen in the world in the past year, it makes sense to be prepared for anything. Continue reading “Some Serious Disaster Preparedness Ideas Everyone Can Use”