The Cure for the Financial Hangover

December 28, 2011

Now that the holidays are behind us, do you find yourself carrying a few extra financial “pounds?”  That is, did you put so much of your holiday shopping on plastic that you end up starting the New Year carrying a balance on your credit card?  If so, then you’re probably not alone.  According to First Data, credit card use among holiday shoppers soared, and continued use could make the problem worse.  The good news is that there is a cure to the financial hangover.  It begins with a commitment to get rid of the debt, followed by a plan for reducing it.  To help you get started, here are some simple steps you can take to start shedding the financial weight: Continue reading “The Cure for the Financial Hangover”

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”

Financial Planning and the Stonehedge Mystery

December 23, 2011

For those who love mysteries, one of the longest running mysteries I can remember is Stonehenge. I mean, what is the meaning of those stones in that location? Who put them there? Why? How? Well, one part of that mystery has been solved. We now know the origin of the stones. Archaeologists spend years trying to solve mysteries, and now that this one is solved, all it does is raise more questions. At times, I’ve found that is also the case when working with people regarding their financial lives.  Here’s the condensed version of the story of someone I’ve known for a few years. Continue reading “Financial Planning and the Stonehedge Mystery”

Ho, Ho, Holiday Tax Tips

December 21, 2011

In the middle of the holiday season, it’s easy to forget that there are only two more weeks left in the tax year, and although April 15th is still four months away, you can reduce the amount you owe (or increase the amount you get back from) the IRS if you take the following steps before the ball drops on New Year’s Eve. Continue reading “Ho, Ho, Holiday Tax Tips”

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”

Financial Twinkies

December 16, 2011

As a dad, one of my jobs is to make sure that my kids learn some foundational nutrition guidelines. So any time I see a story like this, that talks about how many of the popular cereals (some of which I really like…) have more sugar in them than a Twinkie, it catches my eye. Some of the cereals on the list (Honey Smacks, for instance, just sounds sweet and sugary, so that’s not a real shocker!) wouldn’t immediately conjure up thoughts of “I should worry about the amount of sugar in this.” The article goes on to say that, like we do in my family, especially since my middle child has Type 1 Diabetes, reading labels is important and it gives some tips on what to look for, as well as some alternatives to cereal that are fast and easy. I know I’m always looking for quick breakfast ideas before school for the kids, and work for me. Thinking about how reading the labels on food is important made me think about “reading the label” with some financial products, as well. Continue reading “Financial Twinkies”

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”

The Day After Black Friday

December 09, 2011

What is the day after Black Friday called? I have no idea if it actually has a name, but after reading news stories and seeing things all over the internet and on Twitter, I have a few suggestions. “Retail hangover Saturday?” “How much did I spend yesterday” day? “Look at all my new store credit cards” day? I saw a lot of stories, blogs and tweets about people spending money and opening up new credit cards in order to get an extra 10% or 20% off of their purchases. Many of them plan to close the cards immediately upon getting their first bill. But is that a wise move? It might be, but let’s look at the options you have for recently opened credit cards, and how your credit score might be impacted. Continue reading “The Day After Black Friday”

7 Gifts That Can Keep on Giving

December 08, 2011

Rather than give away more fish this holiday season, why not teach them how to fish with a gift of financial education? After all, New Year’s is coming up and better money management is one of the most common resolutions. (A gift about losing weight may not go over so well.) While unfortunately you can’t exactly buy our services as a gift for someone, here are 7 personal finance books that I’ve found to be particularly insightful: Continue reading “7 Gifts That Can Keep on Giving”

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?”

Is Education the Next Bubble?

December 01, 2011

That may sound like a strange question but it’s one that a lot of people are beginning to ask. What makes a bubble a bubble is that it’s hard to tell when you’re in it until it’s too late. Let’s take a look at the housing bubble. It was based on widespread faith in home ownership as a key pillar of the American Dream that had paid off well for previous generations. It was then fueled with artificially cheap credit and government incentives that led millions of people to stretch their budget and buy as much home as they could with the expectation that rising home prices would make it a great long-term investment, even if they were barely able to afford those mortgage payments. Besides, owning a nice big home is so much fun! Substitute education for housing and student loans for mortgages, and you pretty much have the current state of higher education. Continue reading “Is Education the Next Bubble?”

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”

GUEST BLOG POST: The Course to Financial Success: A Marathon, Not a Sprint

November 09, 2011

On Sunday, October 30th, I ran the Marine Corps Marathon in Washington, DC.

Call it a “runner’s high,” or chalk it up to trying to distract myself from my painful feet, but I spent much of those five-plus hours in deep philosophical thought.  I thought about the courage of our military, as I studied the faces and dates of too-short lives emblazoned on the backs of so many runners.  I thought about the dedication of the spectators, who not only waited for several chilly hours to catch a 10-second view of their runner, but also propelled 19,999 other runners to the finish with their motivating and humorous signs.  My favorite:  “26.2 miles?  Because 26.3 would just be crazy!!” Continue reading “GUEST BLOG POST: The Course to Financial Success: A Marathon, Not a Sprint”

Why We Should Tune Out the Politicians

October 28, 2011

As someone who travels a lot for work, I spend a lot of time in hotel rooms.  And, each hotel has a very different TV lineup, so it’s impossible for me to ever remember if ESPN is on channel 29, 53, 37, or 6.  (Yeah, there are bigger problems, but knowing what channel ESPN is on is important to me!)  And, a part of my night is flipping through the dial to check out what’s going on in the world outside of sports.  I’m a bit of a news junkie too.  In the latest trip around the dials (are there even radios or TV’s with dials anymore?), I was fascinated by all of the tax proposals I saw being talked about.  You’ve all heard that the only 2 things that are certain in this life are death and taxes.  I agree that those are absolute certainties, but I think there are a few other things that can be counted on.  One of them is politicians with plans. Continue reading “Why We Should Tune Out the Politicians”

Paying to Use a Debit Card? I Don’t Think So.

October 19, 2011

Recently Bank of America announced that it will charge debit card holders $5 a month for the convenience of using a debit card, and you can be sure other banks will follow suit.  This stems from recent legislation that puts limits on the fees banks and other financial institutions can charge on certain types of transactions.  Regardless of the reason, it’s time for a revolution. Continue reading “Paying to Use a Debit Card? I Don’t Think So.”

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”

Financial Planning and Learning to Drive

October 14, 2011

My daughter just got her learner’s permit.  Drivers everywhere, beware!  Last Sunday I let her drive as we ran errands, and she did a remarkably good job for her first time on busy roads.  It wasn’t an empty parking lot this time!  And…that’s not just a proud dad talking.  It’s an honest evaluation of her performance.  This whole “learning to drive” experience has me thinking about our capacity to learn new things. Continue reading “Financial Planning and Learning to Drive”

Financial Planning: I’m a Geek and I can Prove it

October 07, 2011

It was pointed out to me recently that I can be quite a geek (fortunately, my girlfriend likes geeks).  It was also pointed out that when I was a kid I had to feed my pet dinosaur before I walked 10 miles, uphill, in both directions, to school in the morning.  (I love my kids!  Anyone want them?)  I guess a little back-story might help.  In an interesting twist (at least to us) of timing, my girlfriend and I share a birthday for a brief moment.  Her birthday is on the 20th, mine is the 21st, and we like to spend our birthdays together doing fun stuff.  Or, at least mostly fun stuff. Continue reading “Financial Planning: I’m a Geek and I can Prove it”