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 »

Tough Financial Shape? Just Listen for the Call to Action

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At one point or another, many us will recognize that we're in tough financial shape, and that becomes our call to action. We ought to be thankful we can hear the call when it comes, because for some of us, we don't "get off the dime" and act in our own best interest until it's absolutely necessary. And, some of us are financially hard of hearing. Recently, I've had the opportunity to peek in on the lives of others, through social media, and learn a little about their challenging financial conditions. I'd like to share some of my observations, and insights and suggestions, in an effort to get some value out on the table. I do this in the interest of helping others understand there are various indicators that we should recognize as a type of wake-up call. We ought to create insights regarding these indicators, and put them to work for us, so we sleep better at night. Read more »

Surprise, Your Credit Report Stinks

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Credit reports are a funny thing that even the most seasoned of financial experts have trouble understanding. With all of the “myths” and “misconceptions” about credit scores swirling around it can be difficult to decipher myth from the real truth. Recently my friend went to a car dealership in search of a new vehicle to replace their old vehicle. Unfortunately, they didn’t have the money saved up to purchase the vehicle (I advised paying cash makes the most financial senseJ), and were going to have to finance the vehicle. When applying for any loan or line of credit you are […] Read more »

The Danger of Marketing

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According to the American Marketing Association, the definition of marketing is “the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.” Basically, the purpose of marketing is to let you know about the products and services companies offer that have value for you. The first problem with marketing is that the catch phrases are often misleading and may cause you to buy inappropriate and expensive products. The second problem is the marketing message may blind you to the reality that no product is, in itself, […] Read more »

Credit Card Emergency Funds – An Alarming Trend in Society

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The following is a guest post by Jacob from My Personal Finance Journey, a personal finance blog offering actionable personal finance advice with the goal of achieving long-term success. In particular, Jacob focuses on long term investing and asset allocation strategy analysis, deciding how to prioritize new funds as they come in to various spending requirement areas, and how to develop a lifestyle of frugality. Several months ago through the magic of LinkedIn, Brad and I were able to find out that we actually lived in the same city in Virginia. This was quite an awesome find, being as that the personal […] 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 »

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 »

Happy New Year!

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Here are a few thoughts to consider as we begin 2012. The majority of the money and investing related news for the past week are either focused on the past or the future. Every media outlet will have reviews of 2011 and predictions for 2012. This news trend will continue for the rest of January. While it is helpful to look back at the past, don’t spend too much of your time looking in the rear view mirror. As you know, you may learn from the past but you cannot change it. Congratulate yourself for your successes and good decisions. […] 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 »

The Worst Day of my Entire Life

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As I sat on the park bench watching other families laugh and play, I couldn’t help but feel resentment. That was supposed to be me and my family, but recent events would clearly make that impossible. How could my wife do this to me? What did she do? Only the worst thing a wife could do to her passionate husband dedicated to ridding the world of debt that’s all. I checked the mail and found out that my wife racked up almost $2,000 on a credit card she had been hiding from me for over a year. Imagine the look on my face – THE Enemy of Debt – as I peeled open the envelope to reveal such news. We’ve been through so much together financially and I thought we were on the same team. It was only four years ago that we pledged to eradicate our debt together once and for all. At that time we were like everyone else -- broke, living paycheck to paycheck, and seriously on edge about our finances. Read more »

To Be or Not To Be…That is the Question

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Thankful that is…today is Thanksgiving a time to spend with loved ones and reflect on what you are thankful for. It has been a tough year for my family and some days I didn’t feel so thankful, but today I have a renewed attitude of thankfulness and realize just how lucky I am to have my health, my family, and the support of communities like this one. Unexpected Gifts of Thanks Sometimes we are dealt a bad hand and just need to make the best of less than perfect situations. Divorce.  On April 5th of this year my divorce was […] Read more »

Santa Is a Waste Of Money

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In a scene common to many American households during the holiday season, my kids sat at the kitchen table thumbing through a stack of Christmas toy magazines creating their Christmas wish lists. I smiled as I watched them, remembering doing the exact same thing when I was a kid.  I actually folded mine up, put it in an envelope and gave it to my parents to mail to Santa. Feeling their excitement as I walked towards the table, I overheard, “Oooh, I’ve never seen that before, that is SO cool! That’s definitely going on my list!” Suddenly having them go […] 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 »