Old School Money Tips That Stand the Test of Time

April 02, 2012

“Are you in entertainment?” I asked the older gentleman next to me as we got news from the pilot we were in a “holding pattern.”  The flight was from LAX to Salt Lake City with a stopover in Las Vegas. I was headed home to Utah but the gentleman sitting next to me was obviously going to get off in Vegas.  He resembled a mix of Johnny Cash with his dark black hair and leather suit jacket with a black shirt and a cast member of the Godfather with the way he carried himself.  In other words, I did not mess with him – no one did. Continue reading “Old School Money Tips That Stand the Test of Time”

Is It Time to Refinance Your Mortgage?

March 28, 2012

The chance to refinance a home mortgage loan is rarely missed by a homeowner who is struggling to make his minimum monthly payments on time but this is not always the best option for every homeowner. Being able to refinance a loan doesn’t always give you the bragging rights in your neighborhood. Instead, you should give some thought behind the timing of your decision so that you don’t end up making the wrong decision about your rising mortgage debt level. Remember that multiple refinancings can reduce the overall financial benefit so when you decide to refinance your home loan, you should make sure you make the best decision in order to make it the final one. Don’t be a refinancing junkie as this will hurt your credit score and make you less able to get new lines of credit at an affordable rate. Continue reading “Is It Time to Refinance Your Mortgage?”

5 Financial Rules You May Need to Break

March 15, 2012

There are certain guidelines that we financial planners tell people to help keep them out of trouble. Most of the time, they’re right on. But there’s almost always an exception to the general rule. Here are some of those rules, why they usually make sense, and when they might not. Continue reading “5 Financial Rules You May Need to Break”

IRS Form 4868 – Means I Am Going Skiing

March 12, 2012

Whose bright idea was it to choose April 15th (this year April 17th) as the tax filing deadline?  Well, I know that you can certainly file earlier, which I used to do but that was before I moved to Utah, where they have “the greatest snow on earth.”  Truth be told, I’d rather be skiing. Continue reading “IRS Form 4868 – Means I Am Going Skiing”

How Much Money Do You Really Need to Be Happy?

March 07, 2012

For some people, the grass is always greener.  I recently read an article about a banker living in New York who earns a  $350,000 annual salary, which covers private school tuition for his two children, a summer home in Connecticut, and a duplex apartment for his family in a very desirable neighborhood.  Yet he still feels it isn’t enough.  “I feel stuck,” he lamented.  “The New York that I wanted to have is still just beyond my reach.” Continue reading “How Much Money Do You Really Need to Be Happy?”

Five Money Moves to Make When a Recurring Payment Ends

March 05, 2012

My youngest son is graduating from college this spring — I can’t tell you how excited I am. Not only as a proud mother who gets to see her son accomplish a goal that is important to him and that he has worked very hard for, but because soon I will be free! I’ll be free from paying tuition and room and board! His tuition at the University of California has nearly doubled in four years so my husband and I have been paying out of pocket for his expenses each month. We are feeling the same way many people feel when they are close to paying off a car, their house or any other recurring bill — very excited AND since he is the last one, this is a bill that won’t be coming back. Continue reading “Five Money Moves to Make When a Recurring Payment Ends”

Are You Trapped By Your Income?

March 02, 2012

I had a conversation with someone who was leaving a very high-paying job in order to do something that paid far less but was far more personally fulfilling. I asked her what her friends and coworkers thought of her decision.  She laughed and said that they all think she’s crazy.  But…they are all incredibly envious too!  Continue reading “Are You Trapped By Your Income?”

Getting Smart About College Costs

February 29, 2012

Just about every parent thinks about the day when his or her child leaves home with a blend of pride and sadness.  Today’s parents with college-bound children probably add a measure of financial anxiety into the emotional mix.   Not only are these kids emptying all their stuff from the upstairs bedroom, they may also be emptying their parent’s bank accounts and hopes for a secure retirement. Continue reading “Getting Smart About College Costs”

How to Earn Income From Home

February 29, 2012

My wife made a comment the other day about how much food our household is going through lately.  As some of you may know, we have four children, including three boys, the oldest of which is turning 12 in April.  Like all growing families, as the children get bigger, so do their appetites and this has caused my wife to question whether or not she should take on work as a way of bringing in a little extra income to help support the increases in the grocery bill.  Continue reading “How to Earn Income From Home”

Imagine Your Worst Case

February 17, 2012

Over the last few months, I’ve had the opportunity to learn a whole lot more than I ever knew about some “behind the scenes” things that happen before a soldier gets deployed overseas.   My girlfriend works as part of a dental team that goes to military bases on weekends and performs dental work on a ridiculously large number of soldiers prior to their deployment.  On a normal day in a normal private practice, she may see 8-10 patients.  Continue reading “Imagine Your Worst Case”

What Going to the Shooting Range Can Teach Us About Financial Planning

February 15, 2012

Recently, some colleagues and I visited the local shooting range to practice firing pistols at paper targets.  I hadn’t fired a pistol in years, but I remembered that the last time I did I had fun. I was excited to go, but at the same time I was a little nervous.  What if I miss the target and my friends laugh at me? What if I do something wrong and somebody gets hurt?  What if I hurt myself?  What if, what if, what if? Continue reading “What Going to the Shooting Range Can Teach Us About Financial Planning”

Don’t Simply File Your W2 – Analyze It!

February 06, 2012

When you look in your mailbox these days, there is some kind of a tax form waiting for you just about every day.  Most people simply glance at them to verify there are no mistakes but then they go into the current year’s tax file.  After filing taxes, who pulls out their W2 and goes over it with a fine toothed comb?  Not too many people I would assume.  Most of us are so glad to get our taxes filed and over with that we are done and ready to move on to other things. Continue reading “Don’t Simply File Your W2 – Analyze It!”

What Are You Hiding From?

February 03, 2012

So……this Sunday is the Super Bowl!!!  The game will be watched by more people than ever before.  Madonna is performing at the halftime show.  (I have so much to say about that but because this is a work-related blog I’ll decline to comment…for now).  The whole sports world (and many people who don’t like football but are invited to parties or want to simply watch the commercials) will stop for 3-4 hours on Sunday as the NFL crowns a new champion.  Continue reading “What Are You Hiding From?”

12 Important Financial Steps to Take in 2012

January 30, 2012

By now, everyone has broken their New Year’s resolutions.  Never fear, taking one financial action step each month is easy and you still have time to finish January’s step.  Taken together these steps can have a tremendous impact on your finances in 2012. Continue reading “12 Important Financial Steps to Take in 2012”

What I Learned Watching the NFL Playoffs

January 27, 2012

Last weekend, the final 4 teams left in the NFL playoffs squared off to see who would make it to the Super Bowl.  This year, it’s the New England Patriots vs. New York Giants playing in the season’s final game.  2 teams, 1 trophy……….I can’t wait.  I’m almost as excited about the commercials as I am the game.  My favorite team was eliminated, so there won’t be a championship parade for me to attend this year.  That made me think.  The NFL has 32 teams.  Only 1 wins the Super Bowl.  Only 1 is considered “successful”.  The other 31???  They all failed to meet their goals and have to wait another year to try to reach them. Continue reading “What I Learned Watching the NFL Playoffs”

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”

When it Comes to Financial Advice, Follow the Money

January 19, 2012

As the election year begins, there’s a lot of concern about money in politics and how it can be used to corrupt politicians and buy votes. But politics isn’t the only profession in which money can be a problem. The same can be said for financial planning too. Continue reading “When it Comes to Financial Advice, Follow the 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”

Will It Ever Come Back?

December 30, 2011

No, this isn’t an advice column for your love life that’s going to tell you, “If you love something, let it go.  If it comes back, blah blah blah…”  Nor is this the story of a man’s hairline, because clearly the answer there is NO!  This is my favorite story of 2011 mixed with a frequently asked question from my 1-on-1 sessions with employees of one of the companies I visit regularly. Continue reading “Will It Ever Come Back?”