Blog

November 1, 2018

Should I Borrow From My 401(k) Plan?

If you are reading this, it’s likely you are considering withdrawing funds from your retirement account. While it may seem like a good plan (after all, it is your money anyway), it’s rarely a smart idea to borrow from your ...

October 25, 2018

Do I Need a Financial Counselor?

What Is a Financial Counselor? If you are struggling with your personal finances, you may think that you need a financial counselor. Or you may not be so sure whether you need a financial counselor. Likely you have questions about ...

October 11, 2018

Why a Spending Plan is Better Than a Budget

When searching online for help with your overspending, most will look for how to budget. Few will consider how to prepare a spending plan. On the surface, a spending plan and a budget may seem to be the same. ...

October 3, 2018

Book Review: “Smart Couples Finish Rich” by David Bach

Smart Couples Finish Rich: 9 Steps to Creating a Rich Future For You and Your Partner, revised by David Bach Do you find yourself constantly arguing with your partner about finances? Perhaps not too surprisingly, this is one of the ...

September 27, 2018

Why Prepare a Personal Income and Expense Statement?

Why Prepare a Personal Income Statement? Preparing an income statement will answer a very important question - Are you spending more than you are earning? In addition, a personal income statements offers the key to understanding your current financial spending ...

September 13, 2018

What Should I Do With Inherited Money?

As we age, it becomes more likely that we will inherit money. It can be from a parent, grandparent or even a close friend. The circumstances in which you inherit money can be trying enough. Don’t let inheriting money cause ...

September 4, 2018

Book Review: “The 2% Rule to Get Debt Free Fast” by Alex & Cassie Michael

The 2% Rule to Get Debt Free Fast: An Innovative Method to Pay Your Loans Off For Good by Alex & Cassie Michael As the summer winds down, families turn their attention towards returning to work or starting a new ...

August 30, 2018

Creating A Personal Net Worth Statement

How Do I Calculate My Net Worth? And why it might be more important than what you are earning A net worth statement is one of three statements that are critical to understanding your financial situation. A cash flow statement ...

August 23, 2018

Is Your Alimony Ending Soon?

Is Your Alimony Ending Soon? In the past, alimony was received for a lifetime. Now, in most states, there is no longer permanent alimony. The amount of time an ex-spouse receives alimony is frequently based upon the number of years ...

August 14, 2018

Book Review: “The Most Important Thing Illuminated” by Howard Marks

The Most Important Thing Illuminated: Uncommon Sense for the Thoughtful Investor by Howard Marks I was hoping to find a book this past month that could help improve my decision-making process when selecting investments. Howard Marks, co-founder of Oaktree Capital ...

July 26, 2018

5 Steps to Help Stop Living Paycheck to Paycheck

Are you among the growing trend of households who are high-income earners but are living paycheck to paycheck? It is likely you have little or no savings, except for your retirement account. However, if you had a minor emergency, you ...

July 19, 2018

4 Common Budgeting Mistakes

Budgeting. A dreaded word and something we should be doing in order to get our finances under control. With countless online tools, apps, books, and blogs on the subject, you would think it would be easy to do. However, many ...

July 10, 2018

Book Review: “The Millionaire Next Door” by Thomas J. Stanley & William D. Danko

The Millionaire Next Door: The Surprising Secrets of America's Wealthy (Revised 2010) by Thomas J. Stanley, William D. Danko We often think of the millionaire lifestyle the way media portrays it - opulent homes, luxury vehicles, lavish spending sprees on ...

June 29, 2018

Redeeming Credit Card Rewards for Airline Tickets

How do I redeem my Credit Card Rewards for airline tickets? I have been asked this question or something similar on many occasions. For some people it is a complete mystery as to how to redeem the points that they ...

June 21, 2018

Should I Start a Side Hustle?

Before we answer this question, let’s first agree on a definition. A side hustle is not a new idea but a term that seems to be to the latest craze. According to Merrriam-Webster dictionary, “'Side hustle' appears to have entered ...

June 14, 2018

6 Money Saving Strategies for Summer Fun

The summer is the best time to take advantage of many free and inexpensive activities. Whether you are planning a family getaway or are looking to do something fun closer to home, there are all sorts of options. To get ...

June 5, 2018

Book Review: “Your Money or Your Life” by Vicki Robin

Your Money or Your Life: 9 Steps to Transforming Your Relationship With Money and Achieving Financial Independence (Revised 2018) by Vicki Robin In my previous blog posts, I focused on books detailing the nuances of the stock market and the ...

June 1, 2018

How to Become a Successful Saver

How to Become a Successful Saver Becoming a saver can be a challenge. Friends and clients say to me that they wish they could save. They confess that they are “just not savers.” What if there were a few minor ...

May 23, 2018

5 Strategies to Reduce Financial Stress in Your Life

Many people do whatever they can to avoid talking about money. It seems as though society has deemed it a subject that is impolite to bring up in conversation. This attitude towards our finances isn’t doing anyone any favors. Talking ...

May 10, 2018

4 Benefits of Financial Freedom

What is Financial Freedom? Financial freedom is freedom from worries about money. To many people, this might seem like a pipe dream. We are constantly surrounded by advertisements that make us feel like we need more stuff. This can lead ...

May 1, 2018

Book Review: “Common Sense on Mutual Funds” by John C. Bogle

Common Sense on Mutual Funds: New Imperative for the Intelligent Investor by John C. Bogle (1999) For the second month of my year-long journey into financial literacy (read about it here), I selected a rather voluminous book, Common Sense on ...

April 27, 2018

Why Do We Overspend?

How Can I Spend Less Money? This is a frequent topic of conversation with friends. They think it is as simple as cutting a cable bill or cancelling a gym membership. But these casual conversations rarely venture into why someone ...

April 19, 2018

Do I Need an Emergency Fund?

An emergency fund is an amount of money you set aside in the event of an unexpected financial roadblock. And yes, you do need an emergency fund. For many people, saving money isn’t easy. A 2017 study by the Federal ...

April 11, 2018

6 Common Money Management Mistakes

Many Americans struggle with basic money management. It is something not taught in most schools. When you are old enough to start making your own money, it can be overwhelming and lead to bad spending habits and accruing debt. Most ...

April 3, 2018

Book Review: “Investing 101” by Michele Cagan

Investing 101: A Crash Course in Building Personal Wealth by Michele Cagan (2016) Hello again! As I mentioned in my last post, I’ll be a guest blogger for The Alexandrite Group this year. It’s my hope to increase my financial ...

March 29, 2018

How Do I Pay Off My Debt?

Six Steps on to Pay Off Consumer Debt People call me because they are literally drowning in consumer debt. Once you start accumulating debt, it’s extremely difficult to pay it off. And without a plan, it typically continues to increase, ...

March 21, 2018

Are You In Need of Financial Therapy?

What is Financial Therapy? Whether you are wealthy or living paycheck to paycheck, our behaviors surrounding money can be a source of great pain and stress. If this sounds like you, know that you are not alone. When your financial ...

March 16, 2018

Do I Need a Cash Flow Statement?

There are a few different types of financial statements that can not only help corporations run efficiently, but also families. Two common statements are a Net Worth (or Balance Sheet) and a Cash Flow Statement. Each of these paints a ...

March 6, 2018

A Year of Financial Book Reviews

Note from Diane Nissen: I have been managing my personal financial life for over 35 years and professionally money coaching for the past ten years. While I do read many non-fiction books, I rarely read financial books. When Matt told ...

February 28, 2018

How Can I Talk To My Partner About Money?

Talking about money with anyone, including your partner, is one of life’s challenges. It is also one of the main reasons people get divorced. I receive countless phone calls from distressed spouses because they know their money challenges are leading ...