If you want to have MORE money, you need to respect the money you already have! Are you respecting your money? Here are some signs that you’re disrespecting your money: Your cash is wadded up and disorganized. You have loose change accumulating in your car and in various places around your house. You rarely, if ever, cash it in. You …
Please stop acting like you’ve won the lottery when you get your tax refund – that was your money to begin with! I know some people purposely have their employer withhold too much money on their paychecks so they get a big refund. Why is this a bad idea? First, you are earning 0% interest on this money. If you …
A life sentence of minimum payments? During a recent coaching appointment, my client and I reviewed her credit card statements. We discovered something disturbing while putting together her debt reduction plan. Although she doesn’t have an astronomical amount of debt (just under $8,000), my client felt like her credit card balance wasn’t budging. Part of the problem is her interest …
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 …
The song, “Dear Younger Me,” by MercyMe, has been stuck in my head recently. The song is full of advice the singer would give to his younger self. So I wondered: What money advice would people want to give their younger selves? So I posted the above picture of me and my best friend, Nicholle Bays, with this caption on …
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 …
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 …
Giving is good for you, which is why we shouldn’t just reserve it for the holidays. With Thanksgiving just behind us and Christmas on the horizon, many of us having charitable giving on our minds. We’re writing out our holiday gift lists, shopping for others, sponsoring kids for Christmas, and making year end donations. But did you know that giving is …