overdraft protection, Christine Luken, Financial Lifeguard

Overdraft Protection: Blessing or Curse? (Video)

If you are constantly overdrawing your bank account, overdraft protection may seem like a great idea… But in truth, it’s simply allowing you to ignore the problems of overspending and failing to balance your accounts. I recently interviewed a military mom for my book, Money is Emotional: Prevent Your Heart from Hijacking your Wallet, on this subject.  Her husband had always handled the …

Make Your Dreams 3-D (Video)

I’m a big fan of financial vision boards, both traditional and digital. In fact, it’s a homework assignment that I give to all of my coaching clients.  Why?  Because visualizing your dreams and goals helps to keep you motivated to do the hard work of becoming financially healthy.   But why not amp up your biggest goals by making them …

Don’t Rob Your Retirement (Video)

Borrowing from your 401(k) is robbing you of a comfortable retirement. Many folks treat their 401(k)’s like a personal ATM. Why is it a bad idea to withdraw cash via a 401(k) loan from your retirement to pay for things like your kids’ college, home improvement projects, a vacation, or pay off debt? You’re essentially robbing your future self of a …

Lottery or Lightning Strike? (Video)

Did you know that you’re 251 times more likely to be struck by lightning than to win big in the lottery? Your odds of winning a $500 million jackpot are only 1 in 175,000,000! You’re more likely to get rich slowly than quickly. The odds aren’t even that great for winning a measly million dollars these days (1 in 5 …

Avoiding Money Extremes (Video)

When it comes to managing our money, it seems like many people fall into one of two extremes: neglect or obsession.  On the one hand, some people avoid managing their money.  It may be out of laziness or the fear of what they will find. Other people go to the opposite extreme and micromanage their finances.  They are obsessed with checking …