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How to Budget Step 5 – Paychecks and Income

How to Budget Step 5 – Paychecks and Income

Budgeting
Your budget includes your income in addition to money you spend.  In my previous posts on the budgeting process, I...
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Diversification Part 1 – What is Diversification and How Does it Work?

Diversification Part 1 – What is Diversification and How Does it Work?

Financial Tips Investing
One of the key concepts used by many successful investors is diversification.  In this post, I’ll define diversification and explain...
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How to Budget Step 4 – Expenses Not Paid Monthly

How to Budget Step 4 – Expenses Not Paid Monthly

Budgeting
Your budget won’t be complete unless you include all your expenses, including those that you don’t pay every month.  In...
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Financial Decisions – Risk and Reward

Financial Decisions – Risk and Reward

Financial Tips Insurance Investing
Almost every financial decision is a trade-off between reward and risk.  In this post, I’ll use three examples to illustrate...
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How to Budget Step 3 – Setting Goals

How to Budget Step 3 – Setting Goals

Budgeting
Setting one to three realistic financial goals is critical to financial success.  In Steps 1 and 2 of this series,...
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Introduction to Risk

Introduction to Risk

Financial Tips Investing
Understanding risk is key to making sound financial decisions.  Many people don’t have a good grasp on what risk means,...
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How to Budget Step 2 – Tracking Expenses

How to Budget Step 2 – Tracking Expenses

Budgeting
Now that you’ve found a system for keeping track of your expenses, it is time to start recording them in...
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Credit Scores

Credit Scores

Banking Financial Tips
  Your credit score is one of your most important financial numbers.  It not only affects the interest rate you...
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How to Budget Step 1 – Getting Started with Budgeting

How to Budget Step 1 – Getting Started with Budgeting

Budgeting
I’m so excited you want to create a budget!  In my very first post, I outlined the steps I use...
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6 Tips about Homeowners, Condo-owners and Renters Insurance

6 Tips about Homeowners, Condo-owners and Renters Insurance

Insurance
Homeowners, condo-owners and renters insurance policies cover you for loss or damage to your property and liability that emanates from...
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5 Steps to Begin Your Investing Journey

5 Steps to Begin Your Investing Journey

Investing
Riley is a senior financial analyst at a Fortune 500 company with a CPA and M.S. in Applied Economics who...
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You Have Some Savings. What’s Next? Part 3: Pre-paying Student Loans

You Have Some Savings. What’s Next? Part 3: Pre-paying Student Loans

Savings
This week, I’ll conclude the case study about Mary and her savings.  Her last question focused on whether to pre-pay...
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You Have Some Savings. What’s Next? Part 2: Large Purchases and Retirement Savings

You Have Some Savings. What’s Next? Part 2: Large Purchases and Retirement Savings

Investing Retirement Savings
Last week, I presented the first part of a case study that introduced Mary and her questions about what to...
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You Have Some Savings. What’s Next? Part 1: Savings Framework and Emergency Savings

You Have Some Savings. What’s Next? Part 1: Savings Framework and Emergency Savings

Investing Savings
You may be thinking you’d like to get started with investing.  Before doing that, you’ll want to look at how...
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Car Insurance Coverage

Car Insurance Coverage

Insurance
If you own a car, you buy auto insurance.  In the process, you had to make lots of decisions.  Do...
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Balancing a Checkbook: The Nitty Gritty Details

Balancing a Checkbook: The Nitty Gritty Details

Banking
In my previous post, I discussed several different options for balancing your checkbook, ranging from completely ignoring it to maintaining...
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Balancing a Checkbook: Options, Benefits and Risks

Balancing a Checkbook: Options, Benefits and Risks

Banking
I was pleasantly surprised to see that some of my readers are interested in balancing their checkbooks to their bank...
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Employee Benefits: Accidental Death & Dismemberment Insurance 

Employee Benefits: Accidental Death & Dismemberment Insurance 

Employee Benefits Insurance
Accidental Death & Dismemberment (AD&D) Insurance provides additional life insurance if you die in an accident and provides a percentage...
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Employee Benefits: Group Life Insurance

Employee Benefits: Group Life Insurance

Employee Benefits Insurance
Many employers offer life insurance on one or all of the employee, spouse and children.  The type of life insurance...
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Employee Benefits: Employee Stock Ownership

Employee Benefits: Employee Stock Ownership

Employee Benefits Investing
I have seen two types of employer offerings related to employee stock ownership, in addition to the option mentioned last...
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Employee Benefits: Disability Insurance

Employee Benefits: Disability Insurance

Employee Benefits Insurance
Disability insurance replaces a portion of your wages if you are sick or injured.  (In the US, where workers’ compensation...
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Employee Benefits: Dependent Care Flexible Spending Accounts (USA)

Employee Benefits: Dependent Care Flexible Spending Accounts (USA)

Employee Benefits Insurance
A dependent care flexible spending account is similar to a HealthCare Flexible Spending Account.  It allows you to set aside...
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Employee Benefits: Extended Health Care Insurance (Canada)

Employee Benefits: Extended Health Care Insurance (Canada)

Employee Benefits Insurance
In Canada, many of the basics of healthcare are provided through the government health plan.  However, many important expenses are...
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Employee Benefits: Dental Insurance

Employee Benefits: Dental Insurance

Employee Benefits Insurance
Dental insurance pays for preventative dental services (usually two to four cleanings per year), a portion of other dental expenses...
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Employee Benefits: Vision Insurance

Employee Benefits: Vision Insurance

Employee Benefits Insurance
Vision insurance is similar in nature to dental insurance in that it generally covers the basics – eye exams related...
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Employer-Sponsored Retirement Savings Plans: Common Investment Choices

Employer-Sponsored Retirement Savings Plans: Common Investment Choices

Employee Benefits Investing Retirement
All investment decisions are a trade-off between risk and reward. If you look at returns over very long periods of...
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Employer-Sponsored Retirement Plans: Types & Benefits

Employer-Sponsored Retirement Plans: Types & Benefits

Employee Benefits Investing Retirement
Once you have the basics covered – food, housing, transportation and a few other things, saving for retirement is likely...
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Health Insurance: Financing & Choosing a Plan

Health Insurance: Financing & Choosing a Plan

Employee Benefits
Now that you’ve learned about what is covered by health insurance, I’ll provide you with some ways to lower your...
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Health Insurance: How Does It Work?

Health Insurance: How Does It Work?

Employee Benefits
Health insurance is one of the most expensive purchases you will make every year, whether you buy it on your...
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Advice I Give My Kids

Advice I Give My Kids

Financial Tips
One of our survey respondents suggested I write about what I tell my kids about financial matters. I love this...
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Fundamentals of Interest

Fundamentals of Interest

Financial Tips
Interest is a concept that applies anytime you borrow money or someone borrows money from you. You pay interest on...
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Introduction to Budgeting

Introduction to Budgeting

Budgeting
A budget is the foundation of your financial health.  Want to know if you can afford a vacation?  How much...
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How to Budget Step 5 – Paychecks and Income

How to Budget Step 5 – Paychecks and Income

Your budget includes your income in addition to money you spend.  In my previous posts on the budgeting process, I talked about setting your goals and tracking and recording your...
Read More
Diversification Part 1 – What is Diversification and How Does it Work?

Diversification Part 1 – What is Diversification and How Does it Work?

One of the key concepts used by many successful investors is diversification.  In this post, I’ll define diversification and explain how it works conceptually.  Next week I’ll explain different ways...
Read More
How to Budget Step 4 – Expenses Not Paid Monthly

How to Budget Step 4 – Expenses Not Paid Monthly

Your budget won’t be complete unless you include all your expenses, including those that you don’t pay every month.  In the past three weeks, I talked about creating systems for...
Read More
Financial Decisions – Risk and Reward

Financial Decisions – Risk and Reward

Almost every financial decision is a trade-off between reward and risk.  In this post, I’ll use three examples to illustrate how financial decisions can be made in a risk-reward framework. ...
Read More
How to Budget Step 3 – Setting Goals

How to Budget Step 3 – Setting Goals

Setting one to three realistic financial goals is critical to financial success.  In Steps 1 and 2 of this series, I talked about creating systems for tracking and recording your...
Read More
Introduction to Risk

Introduction to Risk

Understanding risk is key to making sound financial decisions.  Many people don’t have a good grasp on what risk means, particularly in a financial context, so I will focus this...
Read More
4 Replies
How to Budget Step 2 – Tracking Expenses

How to Budget Step 2 – Tracking Expenses

Now that you’ve found a system for keeping track of your expenses, it is time to start recording them in your spreadsheet.  In Getting Started with Budgeting, I talked about...
Read More
Credit Scores

Credit Scores

  Your credit score is one of your most important financial numbers.  It not only affects the interest rate you pay when you borrow, but also your ability to borrow...
Read More
2 Replies
How to Budget Step 1 – Getting Started with Budgeting

How to Budget Step 1 – Getting Started with Budgeting

I’m so excited you want to create a budget!  In my very first post, I outlined the steps I use to create my budget.  They are: Identify my financial goals....
Read More
8 Replies
6 Tips about Homeowners, Condo-owners and Renters Insurance

6 Tips about Homeowners, Condo-owners and Renters Insurance

Homeowners, condo-owners and renters insurance policies cover you for loss or damage to your property and liability that emanates from your residence.  All three policies cover your belongings regardless of...
Read More
2 Replies
5 Steps to Begin Your Investing Journey

5 Steps to Begin Your Investing Journey

Riley is a senior financial analyst at a Fortune 500 company with a CPA and M.S. in Applied Economics who aspires to help young professionals navigate the sometimes-murky waters of...
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1 Reply
You Have Some Savings. What’s Next? Part 3: Pre-paying Student Loans

You Have Some Savings. What’s Next? Part 3: Pre-paying Student Loans

This week, I’ll conclude the case study about Mary and her savings.  Her last question focused on whether to pre-pay the principal on her student loans.  The considerations include: The...
Read More
3 Replies
You Have Some Savings. What’s Next? Part 2: Large Purchases and Retirement Savings

You Have Some Savings. What’s Next? Part 2: Large Purchases and Retirement Savings

Last week, I presented the first part of a case study that introduced Mary and her questions about what to do with her savings.   Case Study To help set...
Read More
You Have Some Savings. What’s Next? Part 1: Savings Framework and Emergency Savings

You Have Some Savings. What’s Next? Part 1: Savings Framework and Emergency Savings

You may be thinking you’d like to get started with investing.  Before doing that, you’ll want to look at how much savings you have and how much you can invest. ...
Read More
5 Replies
Car Insurance Coverage

Car Insurance Coverage

If you own a car, you buy auto insurance.  In the process, you had to make lots of decisions.  Do you want to buy Comprehensive? Collision? What limit for Bodily...
Read More
5 Replies
Balancing a Checkbook: The Nitty Gritty Details

Balancing a Checkbook: The Nitty Gritty Details

In my previous post, I discussed several different options for balancing your checkbook, ranging from completely ignoring it to maintaining a forward-looking transaction record and balancing it every month.  In...
Read More
4 Replies
Balancing a Checkbook: Options, Benefits and Risks

Balancing a Checkbook: Options, Benefits and Risks

I was pleasantly surprised to see that some of my readers are interested in balancing their checkbooks to their bank statements!  I would have guessed that, although I balance my...
Read More
3 Replies
Employee Benefits: Accidental Death & Dismemberment Insurance 

Employee Benefits: Accidental Death & Dismemberment Insurance 

Accidental Death & Dismemberment (AD&D) Insurance provides additional life insurance if you die in an accident and provides a percentage of the face amount of the policy if you lose...
Read More
2 Replies
Employee Benefits: Group Life Insurance

Employee Benefits: Group Life Insurance

Many employers offer life insurance on one or all of the employee, spouse and children.  The type of life insurance offered by employers is called term life insurance. It will...
Read More
Employee Benefits: Employee Stock Ownership

Employee Benefits: Employee Stock Ownership

I have seen two types of employer offerings related to employee stock ownership, in addition to the option mentioned last week allowing employees to purchase company stock in their defined...
Read More