A client recently asked me if he and his wife should renew the warranty on their vehicle. Because of the cost-benefit analysis on such warranties, I answered no. A warranty is often a nice little peace of mind when you buy a car. Especially if the car is used, having that extra reassurance backing up … Continue reading Are Extended Warranties Worth the Money?
As most of my clients now know, I have just started my Juris Doctor degree. Through this three year process I will continue to coach part-time, and once I have the degree and pass the bar, will be able to serve my clients in a far greater capacity. As I was in the process of … Continue reading Should I Apply for the Public Service Loan Forgiveness Program?
It's a common question that a lot of folks ask when they hear about the idea of working with a coach: " Why should I pay someone when I can’t even make payments on some of our debts?" This is an understandable concern. The bills are already sky-high and it seems like there's hardly any … Continue reading “We Used a Coach…My Cousin Didn’t”
Almost everyone could use a few extra bucks in their checking account, am I right? Luckily, in our world today, there are tons of opportunities to get some cash fast. Let's consider just a few of the options available to us. 1. Have a Garage/Yard Sale Most of us have a bunch of random stuff … Continue reading 5 Quick Ways to Earn Some Extra Money
On the subject of retirement, I strongly advise my clients to operate based on the assumption that someday Social Security will not be a viable income source at age 65. The other options out there are long-term investments in tax-sheltered accounts, or pensions offered by employers. Over the past decade or so, there has been … Continue reading What is the Better Retirement Option: A Pension, or 401k?
In the Baby Steps program, the Four Walls are the fundamental necessities of your household's finances. These bills are paid before anything else; before the credit card company, before Sallie Mae, before the medical debts. Food The first category of no compromises is food. No matter how much debt you have, you and your family … Continue reading The Four Walls of Your Household’s Finances
When working your way out of debt, life doesn't simply just stop and wait for you to complete the process. It will still continue on and often throw extra curveballs along the way, almost as if its goal is to take you off track from your goals. One of those curveballs that life tends to … Continue reading “HELP! I’m Paying Off Debt But May Be Laid Off Soon…”
This is a common question that we as coaches get. A lot of people don't understand the nature of our trade and how we differ from financial advisors. That's understandable though, as the financial coaching industry is still a relatively new sector of the financial world. So let's define what advisors do versus what I … Continue reading What’s the Difference Between a Financial Coach and a Financial Advisor?
A common issue among homeowners is determining what appliances to buy for the house. There are a nearly inexhaustible number of brands and levels of quality out there these days, and it can be tricky determining what the best is for your particular home. Fortunately, I have some advice from an experienced and well-informed connection … Continue reading What Appliances To Buy: Some Tips From An Experienced Landlord
Step 3 of the Baby Steps program is to save three to six months of expenses in an emergency fund. This fund is not supposed to be used for shopping sprees, vacations, cars, sofa specials, or anything of that sort; only for true, emergency situations like a job layoff or medical incident. What to spend … Continue reading Where Should I Put My Emergency Fund?