Category Archives: Financial planning

July
21 - 2012

How to Grow your Savings

Savings accounts are common personal financial accounts that pay you a little return on your deposits. People open these accounts for a wide variety of reasons, but for some folks, saving money seems close to impossible. Luckily, saving isn’t nearly as hard as you might think. Here are several tips to help you find “extra” money that you can deposit into a savings account, so you can watch your savings grow.

July
17 - 2012
June
29 - 2012

Using Allowances to Teach Kids Financial Responsibility

By the time a child is old enough to receive an allowance, he is old enough to start learning how to be financially responsible. An allowance could be the perfect tool to teach children that money is earned, rather than given to them, and it should be managed with care. Holding children accountable for money helps them appreciate the value of dollars and the power they can have as a result of managing it well. Each time an allowance is rewarded, parents should have a conversation with their children about how the “income” they are earning will be spent. At least half of the allowance should be set aside for a “savings.” This could be a physical place where money is stashed or a real bank account that parents have set up for them. Children who start the practice of paying themselves first at an early age will continue this […]

June
7 - 2012

Ways to Simplify your Life

Back in the old days, fun times involved being with family and friends and not spending hardly any money. People conserved their money in those days as salaries were not high dollar and there weren’t credit cards to pay. People lived happily on what they had and nothing more. Today, much has changed and people tend to spend more and even pay people to do things they could do themselves. Credit cards have become a common use in households and charging things they may want or need has become a habit.

May
17 - 2012

Robert Kiyosaki Scam: Watch Out!

Many people, including Christian financial advisor David Ramsey, recommend Robert Kiyosaki’s first book, entitled “Rich Dad Poor Dad.” However, along with many recommendations includes reservations concerning some of his teachings, especially those pertaining to debt. Having read this book, this author disagrees with one concept that Kiyosaki teaches and that is in relationship to homeownership. He teaches that owning one’s own home is a liability and that the individual is better off renting. However, in direct contradiction to this teaching, he teaches that the individual will become wealthy by going into debt and investing in real estate, allowing the rents received from tenants to pay the mortgage, taxes, insurance and other expenses related to real estate. In addition, in most ideal situations, the purchased real estate is supposed to create positive cash flow for the investor.

June
6 - 2011
February
18 - 2011
August
23 - 2010
April
17 - 2009
April
15 - 2009

Tax day: How Did Uncle Sam Treat You?

In the United States, today (April 15) is tax day. Our national federal income taxes are due and tax returns must be postmarked today. At our house, the tax situation was the bright spot in having lower income in 2008 due to the recession. As a self-employed individual, I must pay quarterly estimated taxes of 1/4 of my annual federal and state tax due. And in 2008, Mr. Cheap finished graduate school and began teaching full-time. We had hoped that our combined income would leap (yay! we would be rich!). Instead, I lost a big client and our income went down a bit. That means, though, I’d paid the government a little too much. I’m taking the refund to put in our savings account this year.

April
9 - 2009

Submerged In Taxes!

I owe you a post or two this week, but after spending hours working on the paperwork to file our income tax returns and compile the mounds of information required to apply for a home loan refinance, it’s just not gonna happen! Thank you for your patience … and U.S. citizens and residents, don’t forget to send Uncle Sam your tax return by April 15.

January
29 - 2009
December
5 - 2008
October
17 - 2008
February
22 - 2008

Weekly Wrap-Up: Water waste to Gen-Y Fi(nance)

First, for those of you outraged at us Coloradans’ not being allowed to harvest our roof water, the Colorado Senate is working on it: The Senate Agriculture, Natural Resources & Energy Committee approved a plan to allow homeowners to collect water that drains off of roofs up to 3,000 square feet so ranchers and farmers could use it to water livestock and metro residents could use it to water their lawns and gardens.

January
10 - 2008
December
7 - 2007

Weekly Wrap-Up: Going all the way for a green Christmas and wrapping up your year

Oh, you think your Christmas is green, do you? Well, read this and see how green your gifts are. http://sfcompact.blogspot.com/2007/12/holiday-ideas.html I was interested to hear in the Democratic debate on NPR the other day that John Edwards says there will be no toys from China under his tree. I believe my daughter’s top two gifts were made in the USA (both are wood, and I know one is US made), and I heard a rumor that Santa’s present is gently used. But there are a few things that are probably made internationally. How PC is your tree? 

October
11 - 2007