The $57 Jar Of Candy

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Imagine a large glass jar filled to the top with your favorite kind of candy. How much would you pay for it? $10? $20? How about $57? This past weekend, Vonnie and I attended a benefit for her aunt who was recently diagnosed with cancer. There was a wonderful outpouring of support from the community through donations of items to sell in a silent auction. Vonnie, being her usual rock star self, visited business throughout our community and accumulated a dozen or so items to contribute to the auction. We also put together a basket of items we personally donated, […] Read more »

The Lost Subject: Personal Finance

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Were you taught about money and personal finance when you were in school? I wasn’t. Even today personal finance is not taught in most schools or considered a curriculum requirement for college students. How do we expect today’s youth to stop the vicious cycle of debt if we don’t teach them how? The latest report from the Federal Reserve shows that consumers are still using their credit cards in a big way; revolving credit, which is made up primarily of credit card debt rose to $801.0 billion. It’s obvious the cycle continues as millions of Americans rack up debt and […] Read more »

Hidden Expenses That Impact Retirement

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Anthem Healthcare sent me an advertisement for their health insurance and priced it on a daily basis. “Now just $1.58 per day!” Naturally, that rate didn’t apply to me but to a hypothetical 35 year old “healthy” male. Surely their comprehensive database could have sent the quote for me as a 50 year old. In any case, you don’t pay insurance daily. That $1.58 day rate is paid at $47.40 per month or almost $600 per year, which for health insurance is pretty inexpensive. I called and my daily rate would be $5.04 per day or $151 per month or […] Read more »

Being Debt Free is NOT the Goal

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I recently registered for the Twin Cities marathon, which will be held in October of this year. It will be my third marathon, so I’ve been through the training before. However, as a refresher, I dusted off a marathon training book I had purchased several years ago and began reading. The first chapter is quite inspirational. It reflects upon the time and effort it takes to train for a marathon. By the time race day arrives, months of work have been put in, and hundreds of miles have been logged in preparation of the big event. The thing that stands […] Read more »

Buyer Beware Hidden Charges May Be Affecting Your Bottom Line

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You are one of those people that diligently budgets for every expense, cuts costs wherever possible–a sheer genius when it comes to personal finance. So why does it seem you just can’t get ahead as a middleclass American citizen doing all the right things when it comes to sticking to your budget? The economy has taken its toll on just about everyone, both consumers and business. In fact either you or someone close to you has likely fallen victim to a foreclosure, layoff, or downsizing. When you fill up at the pump you wonder when a gallon of gas and […] Read more »

How Do You Choose to Handle Change?

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Anyone who knows me, also knows how often I can be found at Starbucks.  Several locations fix an Iced Quad-Shot Espresso when they see me pull into the parking lot.  That is, after all, my preferred drink and has been for several years now.  Originally, my drink was a Grande nonfat, with whip, Mocha.  After several years, I chose a Grande Iced Coffee.  Then, my doctor suggested espresso since it has less caffeine and much less acid than brewed coffee. (I know it doesn’t sound right, but see references below). Even though it has a stronger flavor, espresso is lower […] Read more »

The Psychology of Getting Out of Debt

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One week ago many of you started working on your financial resolutions for 2012. Hopefully those of you with debt resolved to put together a solid plan to destroy it once and for all. There are many factors that go into the process of debt elimination but one that is often overlooked or underestimated is the psychological side. Anyone can say they want to become debt free but it’s our emotionally-driven behaviors and attitudes that will grant us final passage into the world of financial freedom. Math is only a very small component in the game of debt yet it’s […] Read more »

P90X Your Finances this Year

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Unless you have been living under a rock, chances are you have heard of the P90X workout system and its charismatic fitness guru, Tony Horton. On January 1, 2012 I started the P90X system and have embraced both the diet and exercise requirements, hoping to take my health and fitness to the next level. I don’t know about all of you but I need a regimented diet and exercise plan to have any chance of staying on track. In fact last year I completely fell off the wagon and gained 30 pounds!  I made 2 resolutions for 2012:  Get healthy […] Read more »

Changing My Money Mind in 2012

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It’s that time of year when we all vow to change our ways and resolve to go on a diet, quit smoking, or get out of debt. How many of us actually have a plan in place to make our resolutions a reality? Unfortunately most of us don’t and this is why we are doomed to fail before we even start. Yes, money is necessary to support our lifestyle, but do we let it determine how we live our lives? The fact is many of us do. We allow ourselves to live up to or above our means which often […] Read more »

Just Say No to Inflatable Santa’s

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“Mommy please can we get one of those inflatable Santa’s?” This is the plea I have heard from my eight year old son since we began to decorate (with our already purchased) holiday decorations the day after Thanksgiving. My answer remains constant, “Not right now buddy, we don’t need an inflatable Santa.”  Unfortunately millions of Americans apparently do feel they need inflatable Santa’s, two Christmas trees, and thousands of twinkle lights to adorn their homes so they can feel the magic of the holidays.  According to a Bloomberg report, “This year U.S. consumers will spend $6 billion on decorations, the […] Read more »

Managing your Investments is Like Baking a Souffle

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I love to cook! A few years ago, I decided to try to bake the often dreaded souffle. NPR had a feature on The Science of the Perfect Souffle that made me crave the delicate and light texture of the aerated eggs for a nice brunch. There are a few challenges if you want a perfect souffle and NPR’s Joe Palca turned to Jeffrey Buben, owner and head chef at Vidalia, a restaurant in Washington, D.C, for the perfect souffle. The really neat thing about souffles is they can be a main dish when the eggs are mixed with herbs […] Read more »

The Dangers of Debt from a Financial Pro

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November is No Restaurant Month and if you embrace the concept fully it’s a month to avoid unnecessary expenses. I recently read an article in the New York Times in the “Your Money” section. That issue profiled one of my idols in the industry, Carl Richards; financial planner, blogger, and napkin illustrator. Carl has been in the industry since 1996 and has provided easy to understand illustrations exploring the relationship between people and their money. He refers to this as the “behavior gap”. In short, Carl is an experienced and knowledgeable financial professional. But, as you’ll see in the New […] Read more »

Saying “I Can’t” Is Just Like Saying “I Don’t Want To”

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Photo Credit: haydnseek Have you ever said “I can’t?” I have, and you probably have too. What is it that you are really saying when you speak those words? Are you saying you lack the ability to learn, or are you saying you lack the desire to try? I personally feel the phrase “I can’t” is the equivalent of saying “I don’t want to”. If you wanted to do something, wouldn’t you try, and if you didn’t, you couldn’t say I couldn’t, you would have to then say I didn’t? (Tongue twister—I know) 🙂 Unfortunately, many people say I can’t […] Read more »

Bankruptcy – A Solution, A Cop-out, Or An Enabler?

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Have you ever considered filing bankruptcy to resolve your financial crisis? I know I have, but was so very glad that someone who cared about me decided to speak up. Determining yourself to be financially incapable is nothing to take lightly, but it seems that these days, filing for bankruptcy is no different than having your teeth cleaned. I refer to filing for bankruptcy as the equivalent of taking the morning after pill to prevent unwanted pregnancy, and here’s why. The fact of the matter is that in both cases, someone wakes up one day and suddenly realizes “Hey, I […] Read more »