How Non-Netflix Employees Can Plan For Maternity Leave

August 26, 2015

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”

The Hidden Costs Of Overlooked Benefits

July 29, 2015

August is an overlooked month. Every other month of the year has a holiday or is associated with an exciting beginning, but not August. Many of us try to sneak in one last summer weekend or some back to school shopping but other than that, August is usually a lull in the calendar. A great way to make August productive is to examine the employee benefits programs that you aren’t taking advantage of so that you know which options you do want to sign up for during open enrollment this fall. A few minutes now can help you be prepared to maximize your benefits and possibly save thousands of dollars instead of rushing through a decision or just doing what you did last year. Continue reading “The Hidden Costs Of Overlooked Benefits”

Money For Grown Ups

July 10, 2015

In a conversation with another financial planner here at Financial Finesse, the subject of having college–age children elicited laughter as well as groans. Cynthia Meyer and I shared some stories about our past “adventures” in finance and some mistakes we made along the way. She was inspired enough to write this blog post: Continue reading “Money For Grown Ups”

The 10 Question Financial Checkup

June 04, 2015

Earlier this week, I spoke to a couple of callers to our Financial Helpline. One was a woman who had just inherited some money and wasn’t sure what to do with it and the other was a man who wanted a complete “financial checkup.” While seemingly very different questions, both involved looking for vulnerabilities or opportunities in their financial situations. Want to do the same thing? In honor of our 4 Week Financial Check-up Challenge, here are some questions to ask yourself: Continue reading “The 10 Question Financial Checkup”

Your 4 Week Financial Check-Up Challenge: Week 2

June 01, 2015

A couple of weeks ago marked the beginning of a Four Week Financial Check-Up Challenge. For some, these “best practice” financial behaviors are a part of the daily routine and you already create world class budgeting spreadsheets and could teach classes on making every dollar count. For others, just the thought of getting financially naked and examining the state of your financial affairs is a bit overwhelming. Continue reading “Your 4 Week Financial Check-Up Challenge: Week 2”

Climbing The Debt Mountain

May 29, 2015

One of the things I love to see is a different perspective. When we hire a new financial planner on our team, they offer a lot of “new employee energy,” a fresh set of eyes and a different life experience to the table. Fortunately, we recently hired Cynthia Meyer as a part of our team and she sent me this blog post about her view on a very common type of call that we see on our Financial Helpline.  I like her approach… Continue reading “Climbing The Debt Mountain”

3 Reasons You Probably Don’t Save Enough

May 28, 2015

Whether your main financial goal is to pay off debt, buy a home, or retire comfortably, chances are that saving money will be instrumental to achieving it. Yet too many of us just aren’t saving enough. Why is that? The following are the three main culprits I’ve found and what to do about them: Continue reading “3 Reasons You Probably Don’t Save Enough”

The Best Laid Plans…

May 14, 2015

Let’s face it. No matter how perfectly you plan your expenses, life will always throw you those unexpected curveballs that could wreak havoc on even the best of budgets. After all, it’s impossible to account for everything that could possibly happen to your life. I’m not just talking about the real emergencies like a broken car you need to get to work. There are also things like weddings to attend and your kid’s piano lessons…not exactly “emergencies” but not quite frivolous spending either. Here are some ways to prevent these expenses from derailing your financial plans: Continue reading “The Best Laid Plans…”

5 Tips For a Debt-Free Honeymoon

April 07, 2015

Spring is an awesome time of the year. You can finally climb out of the 5 layers of clothes you wore during the winter and actually see more than the eyes of the people around you. This is also prime wedding planning time. One of our resident financial planners, Kelley Long, recently got married and shared her story of how to make sure a honeymoon does not follow you two years later in credit card bills: Continue reading “5 Tips For a Debt-Free Honeymoon”

In Defense of Tax Refunds

April 03, 2015

My friend Sana is awesome. She has the ability to point out a view that I may not have considered before and makes me take a step back a minute and consider other angles.  Maybe this blog post can do for others what she has done for me at times.  
 Continue reading “In Defense of Tax Refunds”

What A Lost Cell Phone Can Teach Us About Investing

February 25, 2015

Earlier this year, my boss shared with us her story of how she dropped her phone behind her bed. Her first thought since the bed was basically against the wall was to move the bed…in her words “bad idea.” After some time (and a little pain medicine), she took a second approach: use a hanger from the side to pull it out….again, “No dice.” (She thinks she actually made it worse by pushing it further out of reach.) Continue reading “What A Lost Cell Phone Can Teach Us About Investing”

Can You Really Save More Tomorrow?

January 26, 2015

We hear a lot in the news about concerns that Americans aren’t saving enough for retirement. It’s not surprising for news to lead to an increased concentration on saving for the future. On average, retirement planning may be the top financial planning priority but that doesn’t necessarily mean that everyone shares this sense of urgency. Continue reading “Can You Really Save More Tomorrow?”

Before the Ball Drops

December 30, 2014

New Year’s Eve is a time to reflect on the past and ponder your future, but many of us spend more time planning how we will be celebrating on the last night of the year instead of planning ahead on how to achieve our New Year’s resolutions.One of the most common resolutions is to improve financial well-being, either by saving more or paying down debt.  So before you head out tomorrow night, reflect on your financial past by taking the time to calculate your net worth so you know where you stand as we head into 2015. Continue reading “Before the Ball Drops”

How Much Progress Can You Make Next Year?

December 26, 2014

One of the joys of being in a role where I can see a person make progress over the course of time is that I can remember where they started and see where they are now. Since they are living in it day to day, they don’t have the perspective that I do as a casual observer. It’s a lot like when my kids were younger, there were cousins we would only see once every year or two. Every time we saw them, I was shocked by how much their kids had grown and they were shocked by how much my kids had grown, but neither of us was shocked by the growth of our own children. Continue reading “How Much Progress Can You Make Next Year?”

Shave Your Budget, Not Your Moustache

November 12, 2014

A recent Wells Fargo study found that 31% of survey respondents do not think they will have enough money to “survive” on in retirement, yet more than half say they plan to save later for retirement in order to “make up for not saving enough now.” If we have learned anything from Aesop’s fable regarding the ant and the grasshopper, it’s that waiting until later is NOT a good strategy. This is especially true when it comes to saving for retirement. Continue reading “Shave Your Budget, Not Your Moustache”

Why Wait Until Next Year to Plan Your Future?

October 27, 2014

It seems like every fall I try to take some time to enjoy a few minutes of solitude and reflect on the experiences of the current year. This is also a time where I usually acknowledge that the to-do list that I created earlier in the year still reveals some unfinished business. As a financial planner, I’ll admit that this includes some things on my family’s financial planning checklist that still need some attention. Continue reading “Why Wait Until Next Year to Plan Your Future?”

Should You Have an Anti-Budget?

October 16, 2014

A friend of mine recently sent me this blog post called “How the Anti-Budget Can Save Your Wallet.” The basic premise is that a traditional budget isn’t realistic for most people because they just don’t stick to it and it isn’t even necessary to have one. Instead, it suggests simply setting aside your savings first (at least 20% of your income) and just spending the rest without having to categorize each of your expenses. Continue reading “Should You Have an Anti-Budget?”

Student Loan Debt a Major Threat

August 15, 2014

I read this article about student loan debt resulting in a portion of a man’s Social Security income being garnished. In the article, not only is the garnishment discussed but also discussed is the growing trend of older Americans still having outstanding student loan debt. If that debt is not repaid prior to retirement, Social Security payments may be impacted and the retirement lifestyle that you’re expecting may come up short. It reminded me of a couple of situations I’ve encountered in coaching sessions recently where student loan debt became a central part of the conversation. Continue reading “Student Loan Debt a Major Threat”