How many savings accounts should I have? It’s a question I get asked quite frequently. Some money gurus advocate for just one account and others say you should an account for every savings goal. I fall somewhere in the middle of these extremes. Here’s my short answer: you should have at least two, and if you’re self-employed you should have …
There are more than fifty shades of gray when it comes to money, because each person’s financial situation is unique and complex. Earlier this month I sent out a daily series of emails, entitled “The Top 10 Money Mistakes You Might Be Making,” which I’ve compiled HERE. I received several interesting responses directly from you, my dear readers. A …
Bouncing back from financial rock bottom isn’t easy and I know it from personal experience! In this podcast episode of Your Money, Your Wealth with Joe Anderson, CFP and Big Al Clopine, CPA, I tell others how they can rescue themselves from financial rock bottom! (My portion of the show starts at the 11 minute mark.) CLICK HERE TO LISTEN! …
How do I motivate myself to save for retirement when it seems so far off into the future? You’re not the only one who struggles with this; we all do. 3 Reasons You Don’t Save 1.) In this consumer driven culture, you’re constantly bombarded by advertisements reminding us how deficient you are unless you own this or that product. It’s vitally …
Is there anything better than reading a great book poolside, with a fruity drink in hand? I think not! When most of us think “summer reading,” it’s usually light, fun, or romantic stories. But here are four money books to read that will majorly boost your financial IQ while soaking in the sun. I promise you, these reads are anything …
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 …
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 …
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 …