An Uncomfortable Conversation

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With me sitting on the edge of our bathtub, and my wife brushing her teeth as she prepared for bed we began a very serious budget discussion. We were on day three of a week long visit from our Kentucky friends and were burning through our discretionary funds at an alarming rate. We needed to reign in our spending, and ensure we kept ourselves on budget, or we were going to run out of money fast. The next day the four of us were planning on going shopping for the supplies needed for Thanksgiving Dinner. As a group, we had […] Read more »

Personal Finance For A Nine Year Old

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A few weeks ago, one of my daughter’s friends got a new computer game, and the two have been playing it ever since. However, my daughter, Tori, cannot play it unless her friend brings it over to our house, or she goes down her her friend’s house. So, naturally she wants her own copy. She had recently spent all her saved allowance money, so she was starting from scratch saving up the $20 for the game. Last Friday afternoon, when she got home from school, she exploded through the front door, ran up to her room, and grabbed her piggy […] Read more »

With a Falling Market Should I Bail on my Investments?

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The markets fell, for the most part, during the third quarter continuing the challenge for many people to remain invested. Some investors moved out of the market already and will eventually have to decide when to invest again. That is the challenge for short-term investors and for those who attempt to time the market. The advantage of long term investing is the stress and strain of rapidly fluctuating markets is something you can ignore. Here are a few important questions you should consider. First, do you have adequate savings and emergency funds? (At least 6 months of your net take […] Read more »

Investing — The Whole Return

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Losing money can really make you angry, but, eventually, you can make up the losses. But when time is lost, you will never get it back. The factor of time in investment return calculations is limited to the time period of the investment, e.g. One Year, Year To Date, Trailing Three Years, Calendar Year, etc. Return calculations are objective and purely mathematical. The value of your time is left out of the calculation of investment return. What about the time you spend as an investor? What is it worth? Isnʼt that part of your whole return and shouldnʼt you include […] Read more »

Book Excerpt – Investiphobia: Overcome Your Deepest Investment Fears

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The Fear of Thinking Long-Term “When you obsess over how your investment is doing from day-to-day or week-to-week, you could be more tempted to tinker with it instead of sticking to your long-term diversified plan. Not to mention, you’ll probably lose sleep.” Erin Burt, Kiplinger.com, March 13, 2008  “Asset allocation, not stock-picking, not sector funds, not guessing the direction of the Dow Jones averages, is the key to financial success.”   Jim Cramer, Intro to The Little Book that Saves Your Assets, by David Darst One of the most popular investment shows on TV is the Jim Cramer show, Mad […] Read more »

Manage Your Money Final Week – Think Ahead and Stay Determined!

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This Weeks Prize Winners! (via Random.org) FPU DVD Lesson: The Great Misunderstanding – Budgeting the Fun Stuff A Gift To My Children by Jim Rogers – Kathleen C. Congratulations to you all! 😀 Manage Your Money Final Challenge So far, you’ve learned about budgeting on paper on purpose, deciphering wants versus needs, the benefits of teamwork and accountability, impulse spending, and the impact debt has on your budget each month. Today we are going to finish the Manage Your Money challenge by talking about two things; thinking ahead and keeping the determination alive. Both are important because without either, you […] Read more »

It’s Your Money, YOU Spend It!

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Hello debt haters! A few weeks ago I received an email from a reader that suggested I write a post about how other people spend your money for you. I have to admit it is a great post idea, and I am really surprised I had not come up with it earlier. You see, I have my own issue with this very problem. Kelly in Cleveland Ohio wrote in: “I’d love to see an article on “When others spend your money for you”. For example, a 50th wedding anniversary for my fiance’s parents. We were just notified that we’re paying […] Read more »

What Is Your Financial Profile?

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I often find myself thinking about what someone’s financial profile might be based on certain little facts.  Okay so maybe I have been watching a little too much of the show Criminal Minds, but I have started to think I can come up with a financial profile for everyone.  Haha! (You know that only knowing about savvy money hacks is not enough, right?) Trust me, I am not an expert, but I could take a shot at it for fun, right? Below I have tried to come up with a profile for the good and the bad.  Could I work […] Read more »

Are You Under The Influence Of Debt?

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Debt: The Drug, The Dangers, and How To Turn Things Around I would say it is the drug of choice for 7 out of every 10 Americans.  Does that make it dangerous?  Absolutely!  Should it be illegal?  I wouldn’t go that far, as I believe in your freedom to conduct your life as you see fit, but what I would say is, that education is the easiest way to combat poor financial choices. I know I will catch some attitude from the “I pay my card off monthly” crowd, so I will add that moderation is key.  Actually moderation for […] Read more »

When Your Financial Plan Takes A Detour It Doesn’t Imply Failure

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They call it personal finance for a reason. Each individual plan, will at times need a tweak here and there depending on your circumstances.  Today I want to share with you how we have taken a detour, but for good reasons.  No plan is bad as long as you are reaching your financial goals in the process. As most of you know, this Wednesday, we will be introduced to our new little man Noah.  This has caused us to re-evaluate our goals as it is related to our current place in our financial plan. We have recently become debt free […] Read more »

Million Dollar Club

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I decided to join J. Money’s Million Dollar Club.  Setting goals is the way to put your plans into motion.  Brian Tracy says that a goal not written down typed out, is just a dream because it has no energy.  You are definitely more likely to accomplish your goals if you put them down on paper.  It gives you something to follow and each time you scratch an accomplishment off of the list, you gain motivation.  Hmmm, that sounds familiar right?  Your Total Money Makeover is the same kind of plan.  You do each baby step, one step at a […] Read more »

EOD Deluxe Budget 2.0

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  EOD Budget has finally been upgraded!! (EOD Deluxe Budget Version 2.0) If you have been wondering where I have been, here is your answer.  I have been working hard to upgrade the EOD Budget so that your budgeting experience will be easier, better, and faster!  I have added lots of new features including an Allocated Spending Plan and a Checkbook Registry.  I have added some new content to the Savings Worksheets, as well as implemented a color coded system so you know what areas need your information.  Yellow cells are the only cells you need to enter your info […] Read more »

Financial Peace University Comes To Charlottesville

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It is now official! FPU is coming to Charlottesville, specifically to Trinity Presbyterian Church! The preview will be on July 20th at 6:00 p.m., and the classes will begin on August 3rd! During this time I will be using this blog to get the word out. Almost everything you see will have something to do with FPU. I have created my own video to start things off! ENJOY! UPDATE: We have obviously not reached our original goal of September of 2008.  That goal was set based on everything working out perfectly.  As you know that only happens in the movies.  […] Read more »

The Budget Puzzle

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Is your puzzle missing a few pieces? Your budget is just like putting together a puzzle. Every piece is important because without all the pieces it will never be complete. If your budget is not a completed plan for how to spend your money, it is not a plan at all. There are many things that have to be considered for a budget to work. The death of a budget is when we feel the budget has failed and we give up. It’s true the budget did fail, but we need to understand that it only failed because we failed […] Read more »