David and Karen are a typical busy family. David works for a mid-sized firm in the marketing department and earns a good income. Karen is the primary caregiver for their three kids and does some part-time work on the side. They haul the kids to soccer and dance classes. Both volunteer with their favorite charities. They spend time at the … Read More
Should You Pay Down Debt or Save for Retirement
Pay down debt or save for retirement? Many of my clients have a lot of competing priorities, and the most common one is whether to pay down debt, or save for retirement. It’s probably a question we have all asked ourselves at one time or another. While there’s no one-size-fits-all answer, there are certainly some pros and cons to both … Read More
How to Manage if Your Finances Are More Trick than Treat
As a child, I always loved Halloween. The idea of getting dressed up and trick or treating for candy at the local recreation center was something I looked forward to every year. Even now, I still get excited about the thrill of a good mystery or scary story during a windy fall evening that captures the spookiness of the season. … Read More
When it Comes to Financial Decisions Should You Go with Your Head or Heart?
How do you decide when and where to spend your money? Do you use a rational, well thought-out process — with every dollar being accounted for or do you just throw caution into the wind and go with what feels right? If you’re like most people, you probably do a little of both. Consider this: just about any decision that … Read More
Do You Need a Financial Timeout?
At one time or another we’ve all been guilty of buying things that we didn’t really need. Sometimes it’s the newest smartphone on the market; at other times, it’s eating out when a home-cooked meal would have done the trick. No matter the reason, haphazard spending is the direct result of not having a plan in place when it comes … Read More
What to Do When You’re on the Bubble
With graduation looming, many parents are bracing themselves for the inevitable rollercoaster ride that is the transition from high school to college with their eyes (and wallets) wide open. For a large number, there’s still ‘parental homework’ left to complete with the myriad of testing, applications, essays, visits, scholarships and financial aid paperwork, many with deadlines approaching over the next … Read More
How Much Money Do You Need to be Happy?
How much money do you need to be happy? The answer finds that most people fall into one of three categories. 1.) Those that believe the best things in life are free. 2.) Others that attribute their happiness to earning more and subsequently acquiring more stuff. 3.) And finally, those that are happy with enough to afford life’s necessities of … Read More
How to Overcome Anchoring Bias to Start Spending Less
Have you ever been on a long-standing committee? If so, then you’ve probably encountered an exchange where someone comes up with a new idea that seems logical, then someone else wonders why we need to go through all the effort to change. “We’ve always done it this way,” they say. They become immovable. As we go through life, it’s easy … Read More
Less is More: Practical Ways to Embrace Your Inner Minimalist
When December began, so did the purging. All the toys, games, papers, and junk that traditionally lay on my children’s floors had to be addressed. There was no way Santa was bringing more stuff when they couldn’t even keep up with what they had. So, we began cleaning out everything. Every drawer, box, bin, and shelf. Each day we … Read More
Cut it Out!
Valentine’s Day! A time for hearts, roses, and overspending. Yes, you read that right — overspending! Everyone wants to show their sweetie how much they care, but many times that outward expression can turn into a downward regression into debt. Since we are now safely past the sappiness of the day, it’s time for some Financial Mom tough love. Valentine’s Day, in … Read More