Taking Your Finances From Good to Great: Part Two
It’s right about now when many of us make goals for the New Year. We dream of where we’d like to go in the various areas of life – health, relationships, finances – and then we start creating a plan. In “Good to Great,” author Jim Collins says that’s the exact wrong path to greatness. […]
The Best Books I Read in 2010
I love to read. It’s a passion I’m sure I picked up from my parents who always had a stack of books on their nightstands. Since I spend so much of my day focused on financial topics, I prefer to read on other topics in my spare time. However, even in the following list of […]
Getting Started With the Most Powerful Personal Finance Tool Available
I am an unabashed, unapologetic, unceasing believer in the power of a budget. I know that many people cringe at the mere mention of the word. They think it’ll be restrictive, constraining, and, heaven forbid, work! It will take some work – that’s for sure. But the benefits are so great that I believe everyone […]
When Financial Protection May Cause Harm
I had to reread the first couple of paragraphs of the story to make sure I had read them correctly. Sure enough, the Wall Street Journal article said that a surprisingly high 75 percent of people have opted in for overdraft protection coverage from their bank or credit union. In effect, such people have chosen […]
The Other Side of the Boat
“He called out to them, ‘Friends, haven’t you any fish?’ ‘No,’ they answered. He said, ‘Throw your net on the right side of the boat and you will find some.’ When they did, they were unable to haul the net in because of the large number of fish.” – John 21:5-6 Do you have any […]
The Practical Challenges of Making a Budget Work
I recently received a question about budgets that I’m guessing may be applicable to many other people. Here’s the issue in the person’s own words: Yes, we have put together a budget, but making it work for us is a different story. Do you have an easy-to-use system for spending money each month? Our problem […]
The Ugliest Dog in the Personal Finance Pound Finally Gets Some Respect
Budget. The mere mention of the word makes people cringe, gnash their teeth, bang their head against the wall, or slump in their chair. When I ask workshop participants who comes to mind when they think of a budget, I get responses like The Grinch, Scrooge, and Dwight from “The Office.” One person even said, […]
Requiring Kids To Earn Their Allowance
When it comes to allowances, there are those who say you should just give kids some money since they’re part of the family. Others say they should earn it. Dave Briggs is in the earn it camp. “I do not believe just giving kids money prepares them for the real world,” he explained. “When you […]
Financial Regrets: Who Hasn’t Had a Few?
The personal finance blog Watson Inc asked a great question recently: what do you wish you had done differently financially? The author named four of his own financial regrets: financing a car, taking out too much in student loans, not getting started with investing earlier, and not delaying grad school until he could better afford […]
The Scared-to-Invest Generation
The recession has left workers in their 20s and 30s wary of the stock market. According to the Employee Benefit Research Institute, the percentage of workers between 25 and 35 who say they have saved for their retirement has fallen by over 20 percent in the last decade. A Newsweek article about the research noted […]