Cash at Home – How Much Should You Keep?

If you are a Millennial or Generation Z, you may have never thought about this question. I know friends who don’t carry cash in their wallets and have never thought about keeping cash at home. They grew up in a digital world where most stores accept credit cards or other digital payments, and sometimes don’t … Read more

5 Common Money Mistakes

Think about the various money mistakes you have made and then ask yourself, “What was the biggest money mistake and why?”  We all make money mistakes.  We are human – there is no way to avoid it entirely; however, there are steps you can take to minimize what money mishaps you make and how frequently … Read more

How to Create Great Goals for 2021

Did you have goals for 2020? Were you able to achieve them?  Most years, I set goals for the new year in late December or January. Although I am a proponent of setting goals when you want to change something and working towards it, there is something about the beginning of a new year to … Read more

My Reflections of 2020

What if I told you next year there would be a World War, a worldwide famine, or the collapse of the financial system? Or all three at the same time?  I was fascinated by how quickly people made predictions in March, and then a few months later, most people were willing to admit, “I have … Read more

Refinance: When Does It Make Sense and How?

With mortgage rates at or near record lows, many homeowners with mortgages should analyze whether refinancing makes sense. If you have a 30-year fixed-rate mortgage above 3.5%, you should run a break-even analysis to determine if it makes sense to refinance.  While you can refinance and save money on a monthly basis, sometimes the monthly … Read more

How Much Do You Need to Save to be Financially Independent?

How Much Do You Need to Save to be Financially Independent? That’s an excellent and challenging question. When I was young and impressionable, my uncle taught me about it using an example. He showed me a spreadsheet of two investors. He called them individual A and B, but I will refer to them as Amy … Read more

Patience, Discipline, and Humility are Superpowers

Patience, discipline, and humility are superpowers. We’ll talk about how this applies to investing and saving. Unfortunately, those qualities don’t make for good headlines. Imagine reading, “Warren Buffett was patient once again, waiting for the purchase of the decade” and going on to say, “He didn’t find an attractive deal yet, but he is disciplined to … Read more

Savings Buckets

Have you ever had trouble saving for a goal?  You’re not alone. Many people I talk with have one savings account, where their paycheck is deposited and bills are paid. The one account supports their mortgage or rent, car payment, car insurance, food, vacations, and bigger short-term goals.  It’s a tough system. It’s not designed … Read more

Emergency Fund: What it is, How Much to Save, and How to Create it

When was the last time something did not go as planned? What happened? How did you adjust?  Life happens.  Things go awry.  We create contingency plans for when Plan A does not work.  Spare tires in your car. Extra keys for your house. Uploading precious photos to the cloud. Additional food when hiking. Fire extinguishers in … Read more