Posts Tagged: Money

When business gets personal: Your financial runway

Starting a business might be scary, but for those already invested in a venture that’s underperforming, knowing when to pull the plug is by far the more terrifying prospect. To be an entrepreneur, you require a certain amount of blind faith, drive and ambition. At some point in your business venture, and long before you have too much invested though,...

Tax refund madness

The urge is typical. You’ve completed your tax return, happily confirming your hope the government owes you a refund. Before you’ve even received your refund in that recognizable brown envelope, it’s likely you’ve already earmarked that money for goodies you want, but haven’t had the chunk of cash to pay for. In the back of your mind though, you know...

Two common budgeting hurdles (and how to clear them)

There are two, very common, hurdles people face when attempting to budget. Unfortunately, these hurdles often go unacknowledged, setting a lot of people up for failure, almost before they even get started. Quite simply, there are two hurdles or speed bumps people encounter with the process: The first challenge is the not-so-simple task of getting started. Unlike starting a diet (which...

Needs and Wants: The Difference

For some people, it can be incredibly difficult to discern the difference between what they want and what they need. Here is just one practical example: Let’s say someone goes to a mall to replace a broken dish. Walking through the mall, they see a shirt in the window that would go perfectly with one of their outfits. (People generally...

Unexpected Expenses, Your Budget’s Worst Nightmare

Unexpected expenses are, hands down, usually the biggest budget breakers out there. (An unexpected expense is anything that you did not foresee or plan for in your budget.) A clinical look at all cash flow for three full months, including all income and expenses, is one of the first exercises we conduct when working with new clients. During this time,...

Adult Children and Money: Not Too Old to Learn New Tricks

It feels rewarding to help your children. When your adult children ask for help, they can, no doubt, be difficult to refuse. It might seem natural that you would or should help them reach certain financial goals, but when they approach you for money, you need to be careful. Obviously, every child and every situation is different: When your normally...