You may be wondering, “What is the difference between a financial coach and a financial counselor?” And, “Which one can help me better?” These terms are interchangeable. I prefer the softer feeling of the term “financial counselor”, but both positions will educate you and guide you to achieve your financial goals. Both positions will refer you to another professional if they are not licensed in the areas of investing or insurance. We help you gather information and organize that information. We help you understand and apply the knowledge to your life and your goals.
I think the term “financial coach” also has kind of a bad feel, like they are selling you snake oil. Just like in every other industry, there are bad eggs. Most of us just want to help people achieve their goals by educating people and being their cheerleader until the client meets their goals and the contract has ended.
Set up a call with the financial coach you are thinking about working with. See how they communicate with you. See how you feel while talking with them. Their communication with you should feel honest and hopeful.
Make sure you understand their pricing and payment methods before signing up.
Ask about their qualifications. You will be paying them to help you, so you should be satisfied with their potential to do so.
Ask them about their service options. Some coaches will see clients on an hourly basis, and some will see clients on a package basis.
Many coaches offer different options for communicating with them. Will their business communication methods work for you? Some offer texting/calling, some offer only email, and some offer other methods of communication like Voxer or WhatsApp.
Some coaches only answer messages during the workday. How frequently would you be in contact with them? Are they available to answer messages on the weekend? After business hours?
This is the most important tip I have for you. What are your goals for meeting with a financial coach? Before you can make any other decisions, know why you want to work with a financial coach.
At the end of the day, whether you choose a financial counselor or a financial coach, the most important thing is that you feel supported, respected, and empowered to take the next step toward your goals. The right professional will meet you where you are, give you the tools you need, and cheer you on as you move forward.
You can’t talk about money in this world without talking about the social/political makeup of this country. According to Empower, 37% of Americans cannot afford an emergency cost over $400. Let’s think about that for a second. Just over a third of Americans cannot afford a $400 unexpected expense. Here are some more stats from that same article. Over half of Americans stress over how to pay for emergencies. About a third of Americans keep their emergency savings in cash and only about a third of those Americans are looking into using a High Yield Savings Account (HYSA) to house their savings and let it grow with the interest.
Our Political System is Broken
Our entire system is broken. It is built to promote suffering among the majority of Americans. One of my favorite tiktok creators, Delaware Realtor Zach, talks about this stuff a lot, and I highly recommend you check him out. While he does talk a lot about housing, he also talks about the political/financial system and how it broke down over time. He shows up with all of the receipts.
Our two party system isn’t working, and we don’t actually have enough representatives for the size of our population. Part of the system not working as intended by our founding fathers is how our politicians are bought by corporations to bend laws into their wellbeing and out of your wellbeing. Corporations that get angry when consumers actually exercise their prerogative to not spend money at companies that don’t align with their values. This is evidenced when companies complained loudly at the consumers who chose not to spend their money on businesses who got rid of DEI initiatives, or businesses that supported Israel’s genocide of the Palestinian people.
Work Requirements and Savings Caps are Inumane
The system is built to keep the majority of us poor, and fatally reliant on a job. Medicaid’s income cap is much too low to keep up with today’s cost of living, leaving many Americans with too much income for Medicaid but not enough income to sufficiently cover their healthcare expenses. Not only that, but their savings cap is barbaric in this economy. Honestly it was always barbaric. The only thing a savings cap of $2000 does, is keep poor people poor.
That is not even enough to cover the recommended 3-6 months worth of emergency savings in the event of a job loss. So when someone loses their job, they then need Medicaid, SNAP, and rent assistance. They would then potentially also need assistance with their electricity, gas, and water bills.
Even if a person has a job, the health insurance they receive from their job likely also perpetuates their inability to save money or receive proper medical care. If 37% of Americans cannot cover a $400 unexpected expense, how in the world are our government officials making these laws expecting Americans to be able to cover their health insurance deductibles and copays over the year, let alone cover every other possible emergency expense that can happen in a year (like a flat tire or a broken tooth).
I know politics are exhausting to pay attention to, and they do that on purpose. But to preserve our rights and build a better country where there is truly liberty and justice for all, we need to build community and pay attention to what our politicians are doing. We need to vote – that is one of the most important things a US citizen can do for our country.
We could get into ranked choice voting, which would be significantly better than our current system where you have to choose only one politician for each office you are voting for, but we need reform in our whole system before we can even get there. That starts with everyone exercising their rights to vote, to peacefully assemble, and to free speech.
It is hard to talk about money without talking about the economy and the current political climate. Making a financial plan when the economy feels hopeless is harder than most people admit. On top of having an economy that is being tanked by political policies and uncertainty, so many of us are at a disadvantage.
So many of us never learned about personal finances from high school or from our families. So many of us grew up with families that either just chose not to teach us about personal finance or they exhibited harmful financial habits. So many of us grew up poor. So many of us never went to college or trade school. I could keep going on about the socioeconomic inequities of our country, but that isn’t why I’m writing this article.
Right now, many of us are feeling the effects of policies that have made the economy even more unpredictable. There are hundreds of economists and financial experts out there talking about it. I am not going to repeat any of that for you. I will, however, commiserate with you and tell you that you dohave options.
My investment education tells me not to pull out of the stock market, even when it is scary. And that makes sense. If you are losing money in the stock market and you take that money out, you will not be able to make that money back when the stock market goes back up because you took that money out of the stock market. You can read all of the books, listen to all of the educational videos, but it can be hard to decide what is right for you.
In this day and age, a person making 40k will have different options and different choices to make than someone making 70k – than someone making 100k. Then there is the astronomical inflation we have experienced for most of the time that I have even been an adult. Personal finance in this economy is just… tragic.
You Are Not Alone
I know most of us have never even heard of financial counselors. It is a relatively new field. But they can help you sift through all of the information, they can help you find what is right for you. Based on your wants, needs, values, etc. In an economy like this, we can help you do damage control. We can hear your concerns and frustrations about your money. Sometimes we might refer you to a therapist if it goes beyond money. We are not trained for more than money. Financial advisors help you manage your investments, your retirement fund, they might help you find insurance – they manage wealth. Financial counselors help with the everyday personal finances.
Note: I need to tell you that I am not qualified to advise anyone on investments. I may have some education but I have not taken the Securities Industry Essentials exam, nor have I taken any of the Series exams that would license me to advise anyone on investments.
My point right now is that personal finances are hard. Trying to find the information that you need when there are a billion resources out there and you are trying to find your way through emotional chaos is unbelievably hard. Making a financial plan when the economy feels hopeless might be something that you’d prefer to never think about, but you don’t have to do it alone.
If you are interested in getting help managing your personal finances, you can check out my services or you can find other Accredited Financial Counselors at this link: https://findanafc.org/. Just put in your zip code and check out other AFCs near you! If you are not interested in getting help, I respect that. I can still try to answer your questions – feel free to email them to me at contact@myfinancialequity.com and I will get back to you as soon as I can.
Make a Plan, Even When The Economy Feels Hopeless
We can’t control the economy, but we can control how we react to it. I have been struggling to find my way back to myself since the week before the new presidential administration took power. Starting a business in the midst of all of this was not something I could handle, but I went to my therapy appointments and I connected with my family and I participated in safe, peaceful actions that I believe help me and my community advance forward instead of backward. We do what we can in the midst of chaos, and part of that has to be you doing what you can to mitigate the damages.
You have to make a plan for your finances that you can stick to and that sticks to your values. Without a plan, how do you know that you are taking care of what you need to take care of, saving for the things that matter to you, or paying off debts to maintain your financial standing in our ridiculous credit system? Things may look bleak, but this is exactly the time you need a plan, and one that you know you can stick to.
Hello, readers! As of Friday, August 23rd, 2024, I am an Accredited Financial Counselor. It has been a long time coming, but I am finally here. I am so ready to showcase my ability to help people. You. My readers. Individual financial counseling.
I would like to expand this blog. I am honestly not sure anyone will read this any time soon, but I know I have not been consistent with this blog. I really want to build this blog into being my business, my private practice. I dream of helping people and having freedom from the 8-5 life. I dream of having a family and having the time to spend with them. I dream of never having to deal with a micromanaging boss again. These must be the same or similar things that you all dream of. The state of employment in the US is honestly terrible.
I really could rant for awhile about all of this, but I want to ask you to reach out to me if you are interested in financial counseling services. I am quite familiar with federal student loans and repayment. I love budgeting, managing credit/debt, and planning for the future. I love goals. I love helping people work toward and achieve their goals.
Turning 18 marks the beginning of financial independence, and one of the most important steps you can take is building credit. This foundational step often goes unnoticed by many young adults, but getting started early offers long-term advantages that shape your future financial opportunities. Let’s explore why building credit at 18 is not only smart but essential.
Why Building Credit Matters at 18
At 18, you gain the ability to start building credit, and thisearly start gives you time to craft a strong financial profile. A positive credit history opens doors to loans, housing, and other essential financial products that rely on a good credit record. The earlier you begin, the easier it becomes to handle larger financial commitments in the future.
The Key Benefits of Building Credit Early
1. Establishing a Solid Credit History Your credit history is a reflection of how well you manage borrowed money. By starting at 18, you can begin building credit from the ground up, laying a strong foundation for future financial success. This will be useful when applying for loans, credit cards, or even renting your first apartment.
2. Improving Your Credit Score Your credit score is a key metric that affects everything from loan approvals to the interest rates you’re offered. When you begin building credit early and maintain good habits, like paying bills on time and keeping balances low, you’ll see gradual improvements in your credit score. A high score opens the door to better financial opportunities, like lower rates and higher credit limits.
3. Expanding Financial Opportunities Building credit gives you more options when you need financial products, from securing loans to qualifying for credit cards with rewards. It also impacts other areas of life, such as renting an apartment or even applying for certain jobs, where a solid credit history can work in your favor. By starting early, you’re setting yourself up for success when those moments arise.
Learning Financial Responsibility
As you work on building credit, you also gain essential financial skills that will serve you throughout your life. Managing credit involves more than just borrowing money; it encompasses a range of financial habits that are crucial for long-term stability and success. By starting this journey at 18, you have the opportunity to develop key skills such as budgeting, timely bill payments, and monitoring your spending.
Creating a budget is fundamental to financial health, as it helps you track your income and expenses, ensuring you live within your means. Learning to pay bills on time not only contributes to a positive credit history but also instills a sense of responsibility and accountability. You’ll begin to understand the importance of cash flow management and how to prioritize essential expenses over discretionary spending.
Moreover, the habit of regularly monitoring your credit and spending helps you identify patterns and make informed financial decisions. This proactive approach can alert you to potential issues before they become significant problems, empowering you to take corrective action when necessary. Developing these habits early on makes it easier to navigate future financial challenges, whether that means managing student loans, saving for a car, or planning for retirement. Ultimately, by learning financial responsibility through building credit, you equip yourself with the knowledge and skills needed to achieve your financial goals and secure a stable future.
In addition to unlocking opportunities, building credit early provides a vital financial safety net. A strong credit score and a positive credit history empower you to navigate life’s uncertainties with greater ease. For instance, if you encounter unexpected expenses—such as medical bills or car repairs—having established credit can make it easier to secure a loan or access a credit card with favorable terms. This financial cushion helps you avoid falling into a cycle of debt when emergencies arise.
Moreover, a solid credit profile becomes especially valuable during transitional periods, such as switching jobs or moving to a new location. Employers and landlords often review credit histories as part of their evaluation processes, and a good credit score can enhance your chances of securing a desirable job or rental property. Having a strong credit history demonstrates reliability and responsibility, which are attractive qualities to both potential employers and landlords. Additionally, during economic shifts, having a robust credit history can offer more favorable interest rates on loans, allowing you to maintain financial stability even in challenging times. Ultimately, building credit serves as a protective barrier, enabling you to face life’s uncertainties with confidence and resilience.
Long-Term Gains from Building Credit Early
Starting your credit journey at 18 offers benefits that extend well beyond immediate advantages; it lays the groundwork for enduring financial success. A solid credit history, established early, opens doors to better financial products and services, making significant life milestones more attainable. For example, when it’s time to purchase your first home, having a robust credit profile can make the difference in securing a favorable mortgage with lower interest rates and better terms, significantly impacting your financial landscape.
Additionally, landlords frequently check credit scores as part of their rental application process. A strong credit profile can enhance your chances of securing a rental apartment, as it demonstrates financial reliability to potential landlords. Moreover, building credit early cultivates financial discipline and literacy, empowering you to make informed decisions about future investments and savings. With a well-managed credit profile, you’ll not only enjoy easier access to loans and credit cards but also have the confidence to pursue your financial goals—be it starting a business, funding education, or planning for retirement. In this way, early credit building sets a positive trajectory for your entire financial future, providing both stability and peace of mind.
Navigating the Pathways to Credit Initiation
Fortunately, a plethora of avenues exists for young adults to embark on their credit journey, allowing them to establish a solid financial foundation early on:
Secured Credit Cards: These cards require a cash deposit as collateral, making them accessible to individuals with limited or no credit history. Secured credit cards are an excellent starting point, as they allow you to demonstrate responsible credit management. By making small purchases and paying off the balance in full each month, you can build a positive credit history and transition to an unsecured credit card in the future.
Authorized User Status: By becoming an authorized user on a parent or guardian’s credit card, you can leverage their established credit history to kickstart your own. This arrangement allows you to benefit from their positive credit activity without being solely responsible for payments. It’s a great way to learn about credit management while building your credit profile.
Student Credit Cards: Many financial institutions offer credit cards specifically designed for students, featuring lower credit limits and tailored benefits to suit their unique needs. These cards typically come with educational resources that help young adults understand credit and manage their accounts responsibly. They are an ideal option for students looking to gain experience in handling credit while still in school.
Credit-Builder Loans: Structured to help individuals build credit from scratch or rehabilitate a tarnished credit history, these loans involve making small monthly payments that are reported to credit bureaus. The funds are usually held in a savings account until the loan is paid off, at which point you receive the money. This approach encourages consistent repayment habits and helps establish a positive credit history.
Paving the Way for Future Generations
When you start building credit at 18, you’re not just securing your own financial future—you’re setting an example for future generations. Your experience and habits can influence younger siblings, peers, or even your future family members, showing them the value of responsible credit management. By demonstrating the importance of building credit early, you empower those around you to take control of their financial futures as well. This proactive approach helps create a legacy of financial literacy and independence that extends beyond your own life.
Embracing the Journey Towards Financial Freedom
Beginning the process of building credit at 18 is not just about handling finances—it’s about securing your future. By starting early, you lay a foundation that opens doors to better financial opportunities, from loans to housing, while also preparing you to face unexpected challenges with confidence. Each step you take, from paying bills on time to managing your credit wisely, sets you on the path toward long-term financial freedom.
Embracing this journey means you’re taking control of your financial future, shaping it in a way that aligns with your goals. Building credit isn’t just about numbers; it’s about creating a life where you can make empowered choices, pursue your dreams, and enjoy the security that comes with financial stability. Your commitment today will pave the way for a lifetime of opportunities.
It has been awhile since my last post. My life has been so insanely busy, but I have come here to talk about something that is, hopefully soon, relevant to my life. I want to talk to you about making a cross-country move for a job, while you are unable to save for that move.
There are so many things that go into moving so far away, but I think the most important thing is that I am dead set on starting my life half-way across the country.
Other important things:
I am moving for my mental health. Partly. There are so many things I want out of life, and I am not going to get them while I am here. I want to be out in the world, seeing and experiencing new things.
I want to live near mountains and trees. I want to get away from the winters where I live, because they are really just straight-up awful. I want better weather. More variety in the landscape. Oceans and rivers and streams and bays. Little waterfalls in the mountains.
While I do have family nearby, the person I am closest to in my family is a good 3-hours drive away, so I really only see her maybe a couple times a year. My point is, I am used to being far away from my family and I know that I am capable of visiting them, regardless of the distance.
Like most of America, I don’t make much, and I have credit card debt. I believe that my mental health is much more important than my money, and my money is only a tool I can use to better my mental health. So, if you are like the many Americans with little ability to save, and you are planning a cross-country move, please read more of this article.
Make sure to have all of the details. Ambiguity is not your friend in a cross-country move. I am sure it could be done without some of the details, but that would not be ideal. Here are some questions to answer for yourself when planning your cross-country move.
How much will you be making?
What is the cost of living where you are going, compared to where you currently are?
Will you have more, or less, dependents (like pets, kids becoming legal adults, etc.)?
Will it be difficult for you to make living arrangements? Have you gotten moving quotes?
How are you going to get there?
How long will it take you to get there?
Are you moving your things on your own, with help from family, or will you need to hire help?
Do you know anyone there?
Are you moving with anyone?
I am sure there can be so many more questions based on your individual circumstances. You just want to make sure to have all of the facts as you embark on your journey.
Moving cross-country is a significant decision, especially when you’re unable to save much for the transition. However, taking the time to carefully plan and prepare for this move can make all the difference. I encourage you to make your own list of questions and answers. After you have all of your answers, you can lay out a complete plan for your move.
Remember, this cross-country move is about more than just logistics—it’s about prioritizing your mental health and well-being. While financial constraints can be challenging, your happiness and mental clarity are invaluable. Embrace the excitement of starting fresh in a place that aligns with your goals and desires. With a solid plan in place, you can confidently take this step towards a life that feels more fulfilling and true to who you are.
Purchasing a car is a significant financial decision for most individuals and families. In 2024, the cost of buying a car is influenced by various factors, including market trends, technological advancements, supply chain dynamics, and economic conditions. This article aims to provide an in-depth analysis of the costs associated with buying a car in 2024, covering new and used car markets, financing options, and additional expenses.
The global economy plays a crucial role in determining car prices. In 2024, economic recovery from the COVID-19 pandemic, inflation rates, and geopolitical tensions continue to impact the automotive industry. Rising material costs, such as steel and aluminum, and semiconductor shortages contribute to higher production costs, which are often passed on to consumers. Additionally, fluctuations in currency exchange rates affect the pricing of imported cars.
Supply Chain Issues
Supply chain disruptions have been a persistent issue in the automotive industry. The semiconductor shortage, which began in 2020, continues to affect vehicle production in 2024. Automakers have struggled to meet demand, leading to lower inventory levels and higher prices. The transition to electric vehicles (EVs) has also increased the demand for critical minerals like lithium, cobalt, and nickel, further straining supply chains and raising costs.
New vs. Used Cars
New Cars
Pricing Trends
The average price of a new vehicle in 2024 is expected to hover around $48,000, reflecting a steady increase over the past few years. This rise is attributed to the integration of advanced technologies, such as autonomous driving features, enhanced safety systems, and improved fuel efficiency standards. Additionally, the shift towards EVs and hybrids, which tend to be more expensive due to the cost of batteries and related infrastructure, has contributed to higher average prices.
Popular Models and Segments
SUVs and trucks remain popular choices among consumers, driving demand and prices in these segments. Compact cars and sedans, while less popular, offer more affordable options for budget-conscious buyers. The EV market is expanding rapidly, with models like the Tesla Model 3, Ford Mustang Mach-E, and Chevrolet Bolt EV gaining traction. Government incentives and subsidies for EV purchases also influence pricing and affordability.
Financing and Leasing
Financing a new car typically involves a down payment and monthly installments over a period of three to seven years. Interest rates for auto loans in 2024 range from 3% to 7%, depending on the buyer’s credit score and financial history. Leasing is another popular option, especially for those who prefer driving new models every few years. Lease agreements generally require lower monthly payments compared to financing, but come with mileage limits and restrictions on car modifications.
The used car market remains robust in 2024, with prices influenced by the limited supply of new cars and high demand. The average price of a used car is around $30,000, a significant increase from pre-pandemic levels. Certified pre-owned (CPO) vehicles, which offer extended warranties and undergo rigorous inspections, command higher prices but provide peace of mind for buyers.
Age and Mileage Considerations
When buying a used car, age and mileage are critical factors affecting price. Cars that are three to five years old with moderate mileage offer a good balance between cost and remaining lifespan. High-mileage cars (over 100,000 miles) are more affordable but may require more frequent maintenance and repairs.
Vehicle History and Condition
A car’s history report, available through services like Carfax, provides important information about previous ownership, accidents, and maintenance records. A thorough inspection by a trusted mechanic can reveal hidden issues and help buyers avoid costly surprises.
Additional Costs
Insurance
Car insurance is a mandatory expense that varies based on factors such as the driver’s age, driving history, location, and the type of vehicle. In 2024, the average annual insurance premium for a new car is approximately $1,500, while used car premiums tend to be slightly lower. EV owners may benefit from lower premiums due to advanced safety features, but replacement parts and repair costs can offset these savings.
Registration and Taxes
Registration fees and taxes are recurring costs that buyers must consider. These expenses vary by state and depend on the vehicle’s value, weight, and age. Some states also impose additional fees for EVs to compensate for lost fuel tax revenue.
Maintenance and Repairs
Maintenance and repair costs depend on the vehicle’s age, make, and model. New cars typically come with warranties that cover major repairs for the first few years. For used cars, buyers should budget for regular maintenance (oil changes, tire rotations, brake replacements) and unexpected repairs. EVs generally have lower maintenance costs due to fewer moving parts but may incur higher repair costs for battery replacements and specialized components.
Electric Vehicles (EVs)
Purchase Price and Incentives
The initial cost of EVs remains higher than traditional internal combustion engine (ICE) vehicles due to the cost of batteries. However, government incentives, such as federal tax credits (up to $7,500) and state rebates, can significantly reduce the purchase price. Additionally, lower operating costs (electricity vs. gasoline) and reduced maintenance expenses make EVs more attractive in the long run.
Charging Infrastructure
The availability of charging infrastructure is a crucial factor for potential EV buyers. In 2024, the expansion of public charging stations and advancements in home charging solutions have improved convenience and accessibility. However, the cost of installing a home charging station can range from $500 to $2,000, depending on the complexity of the installation.
Financing Options
Auto Loans
Auto loans are the most common method of financing car purchases. Buyers can obtain loans from banks, credit unions, or dealership financing programs. Interest rates and loan terms vary based on the lender and the buyer’s creditworthiness. In 2024, competitive interest rates and flexible loan terms are available, but buyers should compare offers to find the best deal.
Leasing
Leasing is an attractive option for those who prefer driving new cars every few years without the long-term commitment of ownership. Lease agreements typically last two to four years, with lower monthly payments compared to loans. However, leases come with mileage limits and potential penalties for excess wear and tear.
There are Many Factors in Buying a Car
The cost of buying a car in 2024 is influenced by a multitude of factors, from global economic conditions and supply chain issues to technological advancements and market trends. New vehicle prices continue to rise due to the integration of advanced features and the growing popularity of EVs. The used car market remains competitive, offering more affordable options but requiring careful consideration of vehicle history and condition.
Additional costs, such as insurance, registration, taxes, and maintenance, must be factored into the overall budget. Financing options, including auto loans and leasing, provide flexibility but require careful evaluation to ensure the best financial decision.
As the automotive landscape continues to evolve, prospective buyers must stay informed about market trends, technological developments, and economic conditions to make a well-informed purchase. Whether opting for a new or used car, the key to a successful purchase lies in thorough research, financial planning, and a clear understanding of individual needs and preferences.
In the realm of personal finance, understanding and managing risk is crucial for maintaining financial stability and achieving long-term goals. Financial risk encompasses a broad spectrum of uncertainties that can affect your financial well-being, ranging from unpredictable market fluctuations to sudden and unexpected personal emergencies. These risks can pose significant threats to your financial health if not properly managed. One of the most effective strategies for mitigating such risks involves having adequate insurance coverage, which provides a financial safety net and peace of mind in the face of potential losses. In this article, we will explore the critical role of risk management in financial planning, examining why it should be considered a fundamental component of a comprehensive strategy for safeguarding your financial future.
The Nature of Financial Risk
Financial risk can manifest in various forms:
Market Risk: The possibility of losing money due to changes in the financial markets.
Credit Risk: The risk that a borrower will default on a loan or obligation.
Operational Risk: Risks arising from internal processes, systems, or external events.
Personal Risk: Unexpected events such as illness, disability, or death that can disrupt your financial stability.
Some risks can be minimized through careful planning and investment strategies, but others remain inherently unpredictable and potentially devastating.
The Role of Insurance
Insurance is a financial product designed to protect against the economic impact of certain risks. By paying regular premiums, you transfer the financial burden of a potential loss to the insurance company. Here’s why it is crucial:
Protection Against Loss: It provides a safety net that can cover significant expenses that might otherwise deplete your savings or put you in debt. For example, health insurance can cover medical bills, and auto insurance can cover car repairs after an accident.
Peace of Mind: Knowing that insurance protects you against major financial losses can reduce your stress and anxiety. This allows you to focus on other aspects of your life and financial planning without constantly worrying about potential disasters.
Legal and Financial Requirements: Certain types of insurance are required by law or by financial agreements. For instance, auto insurance is mandatory in most places, and mortgage lenders typically require homeowners insurance.
Long-Term Financial Stability: It helps maintain financial stability over the long term by preventing large, unexpected expenses from derailing your financial goals. This is particularly important for long-term planning, such as saving for retirement or funding a child’s education.
Types of Essential Insurance
Several types of coverage are particularly important for comprehensive financial protection:
Health Insurance: Covers medical expenses and can protect against the high costs of healthcare.
Life Insurance: Provides financial support to your dependents in the event of your death, helping them maintain their standard of living.
Disability Insurance:Offers income replacement if you are unable to work due to illness or injury.
Homeowners or Renters Insurance: Protects your home and personal property against damage or loss.
Auto Insurance:Covers damages and liability in case of car accidents.
Assess Your Risks: Understand the specific risks you face and the potential financial impact of those risks.
Compare Policies: Shop around and compare policies from different insurers to find the best coverage at the best price.
Review Regularly: Regularly review and update your coverage to ensure it meets your current needs and circumstances.
Conclusion
Insurance is a critical component of a robust financial plan. It provides a safety net that protects against the financial impact of unexpected events, offering peace of mind and ensuring long-term financial stability. By understanding and managing financial risk through appropriate coverage, you can safeguard your financial future and achieve your financial goals with greater confidence.
Struggling to stick to your financial goals? My Financial Goals Workbook can help—learn more here.
Student loan repayment can feel like a daunting journey, but with the right approach, it can also be a step towards financial freedom. Understanding the various repayment options available is key to managing your student debt effectively. Moreover, in recent updates, the introduction of the Student Aid Verification for Eligibility (SAVE) plan has replaced the Revised Pay As You Earn (REPAYE) plan, offering borrowers new opportunities for managing their loans. Let’s delve into the SAVE plan along with other repayment options. Through comparing their pros and cons, I will help you choose the one that best fits your financial goals.
Understanding the SAVE Plan
The SAVE Plan: The Saving on a Valuable Education (SAVE) Plan was introduced under the Biden Administration. It is a beacon of hope for borrowers seeking manageable student loan repayment options.
How It Works: Under the SAVE plan, lenders calculate borrowers’ monthly payments based on their income and family size, mirroring the process in the REPAYE plan. However, SAVE offers enhanced benefits for low-income borrowers, reducing monthly payments even further.
Benefits:
Lower Monthly Payments: The SAVE plan ensures that borrowers, particularly those with low incomes, have affordable monthly payments, making repayment more manageable. This relief can significantly alleviate financial stress and allow borrowers to focus on other financial goals.
Interest Subsidy: Similar to other income-driven repayment plans, the SAVE plan offers interest subsidies. This subsidy prevents loan balances from ballooning due to accruing interest, saving borrowers money in the long term.
Loan Forgiveness: After 20 years of consistent payments, the loan servicer may forgive any remaining balance on the loan. This offers a light at the end of the repayment tunnel, providing borrowers with a tangible goal to strive towards and the potential for significant debt relief.
Considerations:
Tax Implications: While forgiven loan amounts under the SAVE plan are not taxable, borrowers should be aware of potential tax implications upon forgiveness. It’s essential to consult with a tax advisor to fully understand the tax implications of loan forgiveness.
Extended Repayment Period: Opting for lower monthly payments may result in a longer repayment period. While this can provide short-term relief, it’s essential to consider the long-term implications, including higher overall interest payments. Borrowers should weigh the benefits of lower monthly payments against the potential cost of a longer repayment period.
Eligibility Criteria: Borrowers must meet specific eligibility criteria to qualify for the SAVE plan, including demonstrating financial need. Understanding these criteria and ensuring eligibility is essential before enrolling in the plan to avoid any unexpected issues during repayment.
Pros: Payments start low and gradually increase over time, accommodating entry-level salaries.
Cons: Higher overall interest payments compared to standard repayment, as the initial lower payments may not cover accruing interest.
3. Income-Based Repayment (IBR) Plan:
Pros: Monthly payments are capped at a percentage of discretionary income, providing relief for borrowers with low incomes.
Cons: Extended repayment period may lead to higher overall interest payments. Another one is that, forgiveness is granted after 25 years of consistent payments.
4. Pay As You Earn (PAYE) Plan:
Pros: Similar to REPAYE, with monthly payments capped at 10% of discretionary income and forgiveness after 20 years of consistent payments.
Cons: Limited eligibility criteria, potentially excluding some borrowers from accessing its benefits.
5. Income-Contingent Repayment (ICR) Plan:
Pros: Monthly payments are calculated based on income and family size, offering flexibility for borrowers.
Cons: Higher monthly payments compared to other income-driven plans. Also, forgiveness is granted after 25 years of consistent payments.
Choosing the Right Plan for You
When selecting a student loan repayment plan, consider factors such as your income, career trajectory, and financial goals. Here are some tips to guide your decision:
Assess Your Financial Situation: Evaluate your income, expenses, and long-term financial goals to determine how much you can afford to pay towards your student loans each month.
Research Plan Eligibility: Review the eligibility criteria for each repayment plan to determine which ones you qualify for based on your financial circumstances.
Compare Monthly Payments: Calculate estimated monthly payments for each plan to understand how they align with your budget and financial goals.
Consider Future Earnings: If you anticipate a significant increase in income in the future, consider opting for a plan with flexible payment options to accommodate higher payments.
Seek Professional Advice: If you’re unsure which repayment plan is right for you, consider consulting with a financial counselor or student loan counselor for personalized guidance.
In conclusion, mastering student loan repayment is a crucial step towards achieving financial freedom. By understanding your options, and considering your financial circumstances, you can empower yourself to make informed decisions that set you on the path to a brighter financial future.
In the realm of personal finance, a fundamental yet often overlooked aspect is the distinction between what you can afford and what you are willing to spend. Understanding this balance is crucial for maintaining financial health, achieving long-term goals, and ensuring peace of mind. Additionally, aligning your financial decisions with your personal values ensures that your money is spent in ways that truly matter to you. This article explores how to determine your values and align them with your budget while balancing affordability and willingness to spend, so you can live within your means and still invest in the things that bring you joy and fulfillment.
Understanding Values and Financial Decisions
Values are the guiding principles that shape our decisions and behaviors. They are deeply held beliefs about what is important in life, such as family, career, health, freedom, and integrity. Identifying and prioritizing your values is the first step toward making financial decisions that reflect what matters most to you.
Reflect on Past Experiences: Think about times when you felt particularly happy, proud, or fulfilled. These moments often reveal underlying values.
Identify Admired Qualities: Consider the people you admire and the qualities they possess that you respect. These can provide clues to your own values.
List Your Core Beliefs: Write down a list of beliefs that are non-negotiable for you, such as honesty, loyalty, creativity, or compassion.
Prioritize: Rank your values in order of importance to help make decisions when two values might conflict.
What You Can Afford vs. What You’re Willing to Spend
In personal finance, “what you can afford” typically refers to the maximum amount of money you can spend without jeopardizing your financial stability. This concept hinges on several key factors:
Income: Your total earnings from all sources.
Expenses: All your monthly obligations, such as rent or mortgage, utilities, groceries, transportation, insurance, and debt repayments.
Savings: Funds set aside for emergencies, retirement, and other future financial goals.
Debt: Existing liabilities that require regular payments, such as credit card debt, student loans, or car loans.
While affordability is a matter of numbers, willingness to spend is more about personal values, preferences, and psychological factors. It involves a conscious decision about how much money you are comfortable parting with, even if you can technically afford to spend more. This concept is influenced by:
Personal Values: Priorities and what you consider important in life.
Psychological Comfort: Level of comfort with spending money, influenced by upbringing, financial education, and past experiences.
Long-term Goals: Future aspirations that may prompt conservative current spending.
Risk Tolerance: Willingness to take financial risks, affecting decisions related to investments and large purchases.
Aligning Values with Your Budget
To align your financial habits with your values, create a budget that not only tracks your income and expenses but also reflects what you truly care about.
Assess Your Current Spending: Review your current spending habits to see if they align with your values.
Define Financial Goals: Set specific, value-based financial goals.
Create Budget Categories Based on Values: Structure your budget categories around your values, prioritizing spending in those areas.
Adjust and Reallocate: Reallocate funds from expenses that don’t align with your values to those that do.
Track and Reflect: Regularly track your spending and reflect on whether it aligns with your values.
Practical Steps to Implement a Value-Based Budget
Implementing a value-based budget involves strategic planning and practical action:
Use Budgeting Tools: Utilize budgeting apps or tools to categorize and track your spending.
Automate Savings: Set up automatic transfers to savings accounts that reflect your goals.
Create a ‘Values’ Fund: Establish a dedicated fund for expenses that directly support your values.
Review Regularly: Set aside time each month to review your budget and make adjustments as necessary.
Involve Your Family: If you share finances, involve your family in the budgeting process to ensure shared priorities.
Finding a balance between what you can afford and what you are willing to spend involves a mindful approach to financial decision-making:
Set Clear Financial Goals: Define your short-term and long-term financial goals.
Create a Realistic Budget: Develop a budget that reflects your income, expenses, savings, and discretionary spending.
Prioritize Needs Over Wants: Distinguish between essential needs and non-essential wants.
Practice Mindful Spending: Before making significant purchases, consider whether they align with your financial goals and values.
Build an Emergency Fund: Ensure you have an adequate emergency fund to cover unexpected expenses.
Avoid Lifestyle Inflation: Resist the temptation to proportionally increase your spending as your income increases.
Moreover, consider employing tools and techniques such as envelope budgeting, zero-based budgeting, and tracking spending to maintain control over your finances.
The Psychological Aspect of Spending
The psychological aspect of spending plays a crucial role in financial decision-making. Emotional spending, impulse buying, and social pressure can lead to decisions that do not align with your financial capabilities or values. To mitigate these influences:
Delay Gratification: Implement a waiting period before making non-essential purchases to reduce impulse buying.
Reflect on Motivations: Consider why you want to spend the money and whether the motivation aligns with your values.
Seek Professional Advice: A financial counselor can provide objective insights and strategies to balance affordability with willingness to spend.
Spending Within Your Means on What Matters Most
By aligning your spending with your values and ensuring that your budget reflects what you care about most, you can live within your means while still enjoying the things that bring you joy and fulfillment. This involves thoughtful prioritization and disciplined spending, but it also means making room in your budget for the things that matter most to you.
Invest in Experiences Over Things: Research shows that people derive more happiness from experiences than material possessions. Allocate more of your budget to experiences that enrich your life, such as travel, dining out, or hobbies.
Support Your Health and Well-being: Spending on health and wellness, such as gym memberships, healthy food, and mental health resources, is an investment in your long-term quality of life.
Nurture Relationships: Prioritize spending on activities that strengthen your relationships, whether it’s family outings, date nights, or visiting friends and family.
Pursue Personal Growth: Allocate funds for personal development, such as courses, books, and workshops, that align with your passions and career goals.
Contribute to Causes You Care About: Supporting charitable causes or community projects that align with your values can provide a sense of purpose and fulfillment.
Determining your values and aligning them with your budget is a powerful exercise in intentional living. By reflecting on what truly matters to you and creating a financial plan that supports those values, you can achieve greater alignment between your financial habits and personal beliefs. This approach not only enhances financial health but also contributes to a more fulfilling and purpose-driven life. Understanding the balance between what you can afford and what you are willing to spend is fundamental to sound financial management. It requires a careful assessment of your financial situation, clear goal setting, and disciplined spending habits.
By mastering the art of balancing affordability with willingness to spend, you can navigate your financial journey with confidence and peace of mind. Ultimately, the goal is not just to manage money but to ensure that money serves your life, aligns with your values, and helps you achieve your dreams without compromising financial stability. This balance empowers you to live within your means while still enjoying the things that matter most to you, ensuring a life of both financial security and personal satisfaction.
In the realm of personal finance, a fundamental yet often overlooked aspect is the distinction between what you can afford and what you are willing to spend. This differentiation is crucial for maintaining financial health, achieving long-term goals, and ensuring peace of mind. Understanding this balance requires a deep dive into the principles of budgeting, prioritizing needs and wants, and aligning spending habits with financial goals.
Understanding What You Can Afford
“What you can afford” typically refers to the maximum amount of money you can spend without jeopardizing your financial stability. This concept hinges on several key factors:
Income: Your total earnings from all sources, including salary, bonuses, investments, and any other revenue streams.
Expenses: All your monthly obligations, such as rent or mortgage, utilities, groceries, transportation, insurance, and debt repayments.
Savings: Funds set aside for emergencies, retirement, and other future financial goals.
Debt: Existing liabilities that require regular payments, such as credit card debt, student loans, or car loans.
To determine what you can afford, you need to create a detailed budget that accounts for all these factors. The aim is to ensure that your expenses do not exceed your income, while also making room for savings and debt reduction.
A common method to gauge affordability is the 50/30/20 rule, which allocates 50% of your income to needs, 30% to wants, and 20% to savings and debt repayment. This framework helps ensure that essential expenses are covered, while also providing room for discretionary spending and future financial security.
The Concept of Willingness to Spend
While affordability is a matter of numbers, willingness to spend is more about personal values, preferences, and psychological factors. It involves a conscious decision about how much money you are comfortable parting with, even if you can technically afford to spend more. This concept is influenced by:
Personal Values: Your priorities and what you consider important in life, such as financial security, luxury, experiences, or minimalism.
Psychological Comfort: Your level of comfort with spending money, which can vary based on your upbringing, financial education, and past experiences.
Long-term Goals: Your future aspirations, such as buying a home, traveling, starting a business, or early retirement, which may prompt you to be more conservative with current spending.
Risk Tolerance: Your willingness to take financial risks, which affects decisions related to investments and large purchases.
Willingness to spend also encompasses the emotional satisfaction derived from purchases. Some people find joy in spending on experiences, such as travel and dining, while others derive satisfaction from investing in assets or saving for future stability. Understanding what brings you the most satisfaction can guide your spending decisions and ensure that your money is used in ways that enhance your overall well-being.
Finding a balance between what you can afford and what you are willing to spend involves a mindful approach to financial decision-making. Here are some strategies to achieve this balance:
Set Clear Financial Goals: Define your short-term and long-term financial goals. Whether it’s saving for a down payment on a house, building an emergency fund, or planning a vacation, having clear goals helps prioritize spending. I recommend attempting to make SMART goals!
Create a Realistic Budget: Develop a budget that reflects your income, expenses, savings, and discretionary spending. Regularly review and adjust this budget to ensure it aligns with your financial goals.
Prioritize Needs Over Wants: Distinguish between essential needs (housing, food, healthcare) and non-essential wants (entertainment, luxury items). Prioritize spending on needs and allocate funds for wants based on what aligns with your values and goals.
Practice Mindful Spending: Before making any significant purchase, consider whether it aligns with your financial goals and values. Ask yourself if the expense is necessary or if the money could be better utilized elsewhere.
Build an Emergency Fund: Ensure you have an adequate emergency fund to cover unexpected expenses. This provides a financial cushion and peace of mind, reducing the need to dip into savings or incur debt for unforeseen costs.
Avoid Lifestyle Inflation: As your income increases, resist the temptation to proportionally increase your spending. Instead, focus on saving and investing more to build wealth and achieve financial independence.
Moreover, consider employing tools and techniques such as:
Envelope Budgeting: Allocate a set amount of money for different categories of spending, placing the cash in physical or digital envelopes. Once you spend the money in an envelope, you cannot spend more in that category until the next budgeting period.
Zero-Based Budgeting: Assign every dollar of your income to a specific purpose, ensuring that your income minus your expenses equals zero. This method forces you to account for every dollar and helps prevent unnecessary spending.
Tracking Spending: Use apps or spreadsheets to track your expenses in real-time. This practice increases awareness of spending habits and can highlight areas where you may be overspending.
The Psychological Aspect of Spending
The psychological aspect of spending cannot be overstated. Emotional spending, impulse buying, and the influence of social pressure can all lead to financial decisions that do not align with what you can afford or are willing to spend. To mitigate these influences:
Delay Gratification: Implement a waiting period before making non-essential purchases. This delay can help reduce impulse buying and ensure that the purchase is genuinely necessary and valuable to you.
Reflect on Motivations: Before making a purchase, consider why you want to spend the money. Are you influenced by a temporary desire, social media trends, or peer pressure? Understanding your motivations can help you make more rational spending decisions.
Seek Professional Advice: A financial advisor can provide objective insights into your financial situation and help you develop strategies to balance affordability with willingness to spend.
Conclusion
Understanding the difference between what you can afford and what you’re willing to spend is fundamental to sound financial management. It requires a careful assessment of your financial situation, clear goal setting, and disciplined spending habits. By striking a balance between affordability and willingness to spend, you can make informed financial decisions that support your long-term well-being and financial security. Ultimately, this balance empowers you to live within your means while still enjoying the things that matter most to you.
In the end, the goal is not just to manage money, but to ensure that money is serving your life, aligning with your values, and helping you achieve your dreams without compromising your financial stability. By mastering the art of balancing what you can afford with what you are willing to spend, you can navigate your financial journey with confidence and peace of mind.
Tax season often brings a sense of urgency and stress as taxpayers rush to compile their documents and file their returns by the April deadline. However, circumstances aren’t always ideal for meeting these deadlines, and sometimes, filing an extension is necessary. Understanding how to file for an extension properly, and the implications of tax penalties can save taxpayers from unnecessary fines and stress.
Why File for an Extension?
The primary reason to file for an extension is to gain additional time to ensure your tax return is accurate and complete. This is particularly useful if you are dealing with complex tax situations or have not received all necessary documentation by the tax deadline. It is crucial to remember that an extension to file your return does not extend the deadline for any tax payment due. If you expect to owe taxes, it’s essential to pay estimated taxes by the original due date to avoid penalties and interest charges.
How to File for an Extension
To request an extension, taxpayers must fill out IRS Form 4868, “Application for Automatic Extension of Time to File U.S. Individual Income Tax Return.” This form can be filed electronically or on paper. When filing electronically, taxpayers receive immediate confirmation that their request has been received. If filing by paper, it’s a good practice to send the form via certified mail to obtain proof of the mailing date.
Steps to file for an extension:
Estimate your tax liability using information available to you.
Fill out Form 4868, providing your name, address, Social Security number, and an estimate of total tax liability.
Submit the form by the April tax deadline, ensuring you pay any estimated taxes due to avoid interest and penalties.
Detailed Look at Tax Penalties
The IRS imposes several penalties related to filing and payment that can accumulate and significantly increase the amount owed:
Failure-to-File Penalty: If you miss the deadline or extended deadline for filing your tax return, the IRS imposes a penalty. This penalty is 5% of any unpaid taxes for each month or part of a month that the return is late. The penalty can reach up to a maximum of 25%.
Failure-to-Pay Penalty: If you don’t pay the taxes reported on your return by the due date, the IRS imposes a penalty. This penalty is 0.5% of your unpaid taxes for each month or part of a month that the payment is late. It can total up to 25%.
Interest: On top of penalties, the IRS charges interest on taxes not paid by the due date. The interest rate is the federal short-term rate plus 3%, compounded daily.
Common Misconceptions
Myth: Filing for an extension gives you more time to pay your taxes.
Fact: An extension delays the filing of your return. However, it does not extend the time to pay any taxes owed. Failure to pay by the original deadline results in penalties and interest.
Myth: Penalties are not a big deal if you plan to file soon after the deadline.
Fact: Even short delays can be costly. Penalties are calculated based on the amount owed and increase rapidly each month your taxes remain unpaid.
How to Avoid Penalties
The best strategy to avoid penalties is timely filing and payment. Here are a few tips to manage this effectively:
Plan ahead: Start gathering tax documents early in the year and keep them organized.
Use tax software or consult a professional: These resources can help accurately estimate your tax liability. They can also ensure you take advantage of all eligible deductions and credits.
Set reminders for the tax deadline: Ensure you have alerts set up, giving you enough time to prepare and file your taxes or submit an extension request if needed.
Conclusion
Filing for an extension can be a practical choice if you need additional time to accurately prepare your tax return. However, it’s crucial to be mindful that while the filing deadline can be extended, the payment deadline cannot. Understanding the nuances of tax penalties and taking proactive steps to comply with tax obligations can minimize financial repercussions and alleviate the stress associated with tax season. Always consider seeking guidance from a tax professional to navigate complex situations effectively.
I will go over everything you need to know about using the free bi-weekly budget template including where to put your income and expenses, how to use the income estimation box on the side, how to make new sheets within the spreadsheet, and how to copy the spreadsheet for a new year. You can see other free budget templates on our resources page.
When you get paid every other week, it is called bi-weekly. In a bi-weekly pay schedule, there are 26 pay periods. This means that in two months out of the year, you will have 3 paychecks instead of two. If your first paycheck of 2026 is on Friday, January 2, your months with an extra check will be January, July, and December. You can open your free bi-weekly budget template here. If your first paycheck of 2026 will be on Friday, January 9th, your two months with an extra check will be in May and October. You can open your free bi-weekly budget template here.
I like to use google sheets for my budget templates because they are free, customizable, and don’t require any of my personal information. You can also convert google sheets into excel spreadsheets if you prefer to use excel. The great thing about this conversion is that you can do it without any loss to the formatting or calculations!
Where to put your income
There are two boxes for income in most months. There is an extra box for income in March and August for bi-weekly budget spreadsheet A, and for spreadsheet B, it is in June and December. The image below shows what those boxes look like.
The first column shows the type of income it is, the second column is for the estimated amount you will receive, and the third column is for the actual amount you receive. The fourth column shows the difference between your estimated and actual amounts by subtracting your actual income from your estimated income. You can either use your current paycheck for the estimated column or you can use the income estimation box on the far right of the google sheet. The estimated income column is preset to use the income estimation box outcomes.
How to use the income estimation boxes
The income estimation boxes use your weekly hours and hourly rate to calculate your after-tax paycheck. It also includes a row for your 401k or other pre-tax retirement contribution that comes from your paycheck automatically. This row is preset for a 5% contribution amount but it can be adjusted to whatever percentage you personally contribute – or it can be changed to 0% if you do not participate in any pre-tax retirement plan.
This is what the income estimation box looks like for your regular hours. You start with your weekly hours and then enter your hourly pay. From there, it automatically calculates your weekly income, which shows at the bottom of the box. You can change the amount for your 401k by entering a new decimal amount in place of the current decimal. At the current preset of 5%, the equation looks like =-V11*0.05. To make it 3%, you would only change the 0.05 to 0.03.
There is another income estimation box underneath the first one. This one can be used to calculate the amount you will make in overtime or if you have a second job. All of the customization rules for the first box also apply to the second box.
If you are using it for a second job, you will use it exactly like the first income estimation box. If you are using it to calculate how much you might make in overtime, you will type in the following equation: = Regular pay rate + (Regular pay rate/2). An example of this would be =15+(15/2). The cell will calculate this number for you, and then it will finish the calculation for the income estimation.
Where to put your expenses
Under the income section of the free bi-weekly budget template, there is a row that adds up your monthly income and shows the difference between what you expected to get for the month and what you actually made. Then below that is the expenses section. There will be two of these expense boxes – one for each pay period, and a third expense box will be in months that require it. They look like the box to the right of this text. Each of those categories are completely customizable to your needs, and I recommend budgeting for bills for the pay period following your paycheck. An example of this is if you have a bill on Monday and you get paid on Friday, then you would budget for that bill on the Friday before that Monday.
Just like with the income section, the expense section will show the difference between your estimated and actual expenses. As you get familiar with your expenses, you should be able to adjust your estimated amounts to be closer to your actual spending.
Underneath the expenses section, are two more sections. Directly underneath this section will be the expenses total summary section. This section shows your estimated expenses, actual expenses, and the difference between the two for the entire month. The last section is the monthly balance summary. This section shows your cash flow for the month – all of your expenses, all of your income, and then it will show you whether you spent more or less than you made for the month.
Google sheets tips
How to create more sheets within an existing spreadsheet.
If you need to make more sheets within the existing sheet, you start by right-clicking on one of the months at the bottom. This will show some options, and the one you need to click on is “Duplicate”. Then you can click and hold onto that sheet to move it to where you need it. Doing this will copy an existing sheet but keep it in the same document.
How to make an entirely new sheet for the new year.
If you need to make a new spreadsheet, you will start by clicking on “File” at the top left of the page. Then you will click “Make a copy”, which you will see in the first section of the drop-down menu. After that, you will see a pop-up with an option to rename the new sheet you are creating, as well as move it to a new place in your drive – if you so desire.
Hello, All! I am planning to do a workshop on various financial literacy topics. Each week I will do a separate topic, and I will present that topic on both Sunday and Tuesday of every week. Each presentation will be 1 hour long. None of the presentations will build on each other, so it is not necessary to attend every workshop. Just attend whichever ones you want!
If you are interested in any of the events, please register using this google form.
Planned Workshop Schedule
April 2024
IRS Free Filing
Sunday 3pm to 4pm, April 7, 2024
Tuesday 7pm to 8pm, April 7, 2024
Filing for an Extension and Tax Penalties
Sunday 3pm to 4pm, April 14, 2024
Tuesday 7pm to 8pm, April 16, 2024
What You Can Afford vs Willing to Spend
Sunday 3pm to 4pm, April 21, 2024
Tuesday 7pm to 8pm, April 23, 2024
Student Loan Repayment: Picking the One For You
Sunday 3pm to 4pm, April 28, 2024
Tuesday 7pm to 8pm, April 30, 2024
May 2024
Why Credit is Important to Get an Early Start On
Sunday 3pm to 4pm, May 5, 2024
Tuesday 7pm to 8pm, May 7, 2024
Determining Your Values and Aligning Them With Your Budget
I used to be gung-ho about blogging. I set it all up and I was learning how to manage a blog. I started writing… and then I gave up. At some point in the blogging process, I thought I should start writing the way the internet said I should write. I started comparing my thought process and my titles and my writing to those in my community. I got overwhelmed. All I wanted to do was help people, and complete my certification in the process. Then life happened.
Updates and Thoughts
I am now three classes away from my masters in Family Financial Planning. Seventy-two percent of my experience hours are complete, and I am preparing to take the AFC exam. I really would like to get back into writing and I think that, in order to do that, I need to figure out how I like to write again. I like talking to you, my readers. I don’t like to write in the third person, and without referring to myself. I don’t like to write as if my blog is not made of me. It is just me, by the way. I know I need to standardize the language in my articles.
One reason I started this blog was because creating educational content is one of the categories of experience. I also thought one day that I would be able to use it as a platform for my business. My dream business – helping people create, work toward, and meet their goals. Goals give people a reason to get up, a reason to make it to the next day, and hope for the future. The other thing – I love helping people. I am good at planning and I love it. So here I am, trying to make this work. I want to make this work for you, and for me.
Writing consistently won’t work for me. I am very busy and I will write and post when I can. Last time I tried posting consistently and frequently, and I think it broke my brain. That was a little over a year ago now, and I had been working full time while also taking three graduate classes.
My Thanks
I want to give a shoutout to a girl I work with, Ally, for talking me through some technical issues and figuring out how to make my appointment calendar centered and responsive to different screen sizes. It was amazing, and I thank you. I also want to thank my sister for hyping me up whenever I needed it, and for believing in me when I didn’t believe in me.
