Budget
20 Second Advisor: Time to Refi?
Mortgage rates have dropped in the last month to the lowest rates since 2016 (see chart below). At the same time, many homeowners have seen their home value increase over the last few years. Now could be an advantageous time to refinance your mortgage to pay down debt, renovate your house, get rid of PMI,…
Read More20 Second Advisor: Vacation Home – Rent or Buy?
It’s summer time. And that means vacations. Families feel the draw of buying a 2nd home while they’re on vacation. On the trip to Florida, couples may think, “Wouldn’t it be great if we had a beach house?” Before you dig into the financials of buying a 2nd home, here are the top non-financial questions…
Read More20 Second Advisor: Make it happen in 2019!
It’s the most wonderful time of year. That time when you gather with family, celebrate the holidays, and dust the cobwebs off your old budget. But, seriously, I love this time of year. We are looking into the new year and trying to guess/dream/figure out what we’d like to accomplish in 2019. Vision is the…
Read MoreYou Are Already Managing Cash Flow…Why Not Be Intentional?
I do not care if you have a budget or not, you are already managing your cash flow. You have income coming in and you are spending some or all of that. A budget simply adds intentionality to your income and expenses. I don’t meet many people who enjoy creating and managing a budget. I…
Read MoreI am saving for a trip to Mars
Elon Musk, founder of Tesla, estimates it would cost around $200,000 to travel to Mars. The privatization of space travel means that this could become a reality. On March 30, his space exploration company, SpaceX made a breakthrough when it successfully launched and landed the first ever reusable orbital rocket, the Falcon 9. Refurbishing and re-launching…
Read MoreWhat do oil change stickers and your finances have in common?
We can’t possibly remember every important detail of life. That’s why we have calendars, oil change reminder stickers, auto bill-pay, etc. We set reminders and automate what we can so we don’t have to keep it all straight in our mind (which is impossible anyway)! This same principle applies to one of the trickiest areas…
Read MoreA credit score overhaul
A new credit score formula will be rolled out this fall that will track borrowing behavior over time rather than relying on a snapshot of your credit usage. You can read more HERE
Read MoreRetirement mistakes to avoid in your 20s and 30s
Are you a millennial? Retirement is probably the last thing you are thinking about. People in their 20s and 30s “go through more life transitions than at any other age – you’re getting out of college, you’re graduating, you’re getting a job, you’re changing jobs, maybe you’re starting a business, you’re getting married, you…
Read MoreBudgeting Trick That’s Easy To Implement
Let’s face it. Budgeting is hard. We sit down and make a budget on paper, but few people actually EVER follow the budget. To me, the key to making a budget that’s sustainable is that is has to be easy, but also holds us accountable. There are 100 different budgeting strategies and systems out there…
Read MoreLifestyle Creep: The Ultimate Adversary To Building Wealth
The key to building wealth is really quite simple. Live within your means, save and invest 10-20% of your earnings, and repeat that process for 30-40 years. If you can do those few things, you WILL be wealthy. Unfortunately, so many families struggle to accomplish this. The biggest hurdle to building wealth is what I call…
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