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”

Why Adults Need Allowances Too

September 01, 2011

In previous blog posts, I covered each of the “fixed” expenses and how you can cut back on them to save more for your goals.  This leaves discretionary expenses like food, entertainment, and shopping that you have more control over on a day-to-day basis.  The problem here is that because the amount we spend on these items tends to change so much from month to month, they can actually be harder to manage.

There are lots of tips out there for how you can save money in these areas.   Continue reading “Why Adults Need Allowances Too”

You Don’t Need to Spend a Million Bucks to Look Like It

August 29, 2011

The other day I was getting my nails done at the salon down the street, and a very nice classy looking lady walked in and asked a question to the owner.  Why was I listening?  Well, you need to know that when you are getting your nails done, there isn’t anything to do.  They’re usually playing a soap opera on TV, or some random program that you have no interest in.  There are magazines to read, but think about how difficult it is to do because you have to put the slippery magazine in your lap making it difficult to turn the pages.  Remember why you are there also; you have to keep changing hands while the manicurist works on you.  So the best way to pass the time is to people watch.  That is what I was doing when I overheard the conversation between the classy patron and the salon owner. Continue reading “You Don’t Need to Spend a Million Bucks to Look Like It”

How to Lower Your Bills

August 25, 2011

One of the great things about your 401(k) is that it allows you to put away a small amount of money each month and end up saving quite a bit of money over time. The “fixed” expenses I’ll write about in this post work the same way, except in reverse. While they individually aren’t as big an expense in most people’s budgets as the housing and transportation costs discussed earlier, these relatively small costs can still add up to a lot of lost savings each month: Continue reading “How to Lower Your Bills”

Cash Management: The Price of Our “Toys” is High

July 18, 2011

I was talking to my 23 year old son, Brian, last night and had to smile when he told me of his latest financial mistakes.  I say smile because this young man really has his act together – he is happily married to a sweet young lady, just graduated top of his class from the nuclear program with the United States Navy in South Carolina, and they are keeping him on to teach for two years.  This guy is no slouch.  Earlier this year, when the federal government hadn’t passed a budget and threatened to withhold pay from the military until it was passed, he called to let me know he was fine and had 4 months of emergency savings.  The rest of his buddies were scrambling. Continue reading “Cash Management: The Price of Our “Toys” is High”

Follow Oprah’s Lead with Your Transition Plan

May 23, 2011

Oprah is counting down her last days on the Oprah Winfrey show.  At the time I am writing this she is at show 18, I guess I waited kind of late to watch her since there aren’t many left.  There is good news for me however because I understand she is going to a new network!  There will be more Oprah!  I guess I am in luck.  This may sound cynical because, well, it is. Continue reading “Follow Oprah’s Lead with Your Transition Plan”

Financial Planning: It Starts with a Simple Goal

April 15, 2011

When I read the article, Sumo Wrestler becomes Heaviest Man to Ever Finish Marathon, about a Sumo wrestler who ran and finished the Los Angeles marathon and in doing so became the world’s heaviest man to ever finish a marathon (~400 lbs.), I felt inspired.  If you look at most marathon runners, the LAST THING you think of is sumo wrestling.  When you look at sumo wrestlers, the last thing you think of is long distance aerobic exercise.  That’s what makes this story so interesting to me.  This guy (Kelly Gneiting), not only did something that most people would think he had no shot at doing, he has set the bar even higher.  He wants to swim the English Channel.  He knows how to set goals and not only achieve them but set them higher again after reaching the 1st goal.  Many people could learn a thing or two from him. Continue reading “Financial Planning: It Starts with a Simple Goal”

Financial Planning: Leave Room in Your Budget for a Snow Day!

February 02, 2011

It doesn’t snow very often in North Carolina, but when it does, you can hear the children across the playground shouting – SNOW DAY!!!

Snow days are my kid’s greatest day of the week, but for Susan and I, not so much.  I love to watch the snow fall, and fortunately for me, I haven’t had to travel much, so I look forward to playing in the white stuff just as much as the kids do, but when they are ready to play, I’m sitting at my desk – no snow days for me *drat.* Continue reading “Financial Planning: Leave Room in Your Budget for a Snow Day!”

Financial Blind Spots Can Come Back to Haunt You

November 26, 2010

Spoiler Alert:  Watch this video before reading this blog:

[YouTube video: Selective Attention Test]

There are a few reasons that I found this video particularly interesting (which means I’ll probably talk about it in a few blogs).  The first thing that struck me was the concepts of “blind spots.”  When I watched the video for the first time I didn’t see the gorilla.  How in the world can a gorilla walk across the screen, do a little dance, and go unnoticed?  I was so focused on the task at hand (counting the passes by the white shirted players – and I was able to correctly count the number of passes), that I missed something as blatantly obvious as a gorilla on the screen. Continue reading “Financial Blind Spots Can Come Back to Haunt You”