When I was 27, I finally took my head out of the sand and did what I had been dreading for months. I added up the balances of my credit cards and discovered that they had skyrocketed to over $15,000! By looking at the statements separately, I had tricked myself into believing my debt was much less. I was blindly writing checks each month, just enough to pay the minimum required. Every time I opened the mailbox, I felt a little queasy. Keep reading »
In the latest episode of “Therapy For Your Pocketbook,”
Diane, an entrepreneur, splurges a bit on her new business, but — $200 for a cappuccino maker?! Finance Expert Manisha Thakor
suggests a formula when buying: break down your yearly income into an hourly wage to determine how much “time” each purchase will cost you. Suddenly that cappuccino maker isn’t looking so hot. [Therapy For Your Pocketbook
Keep reading »
If you’re anything like me, when someone brings up retirement savings, investing, or your 401(k) match at a cocktail party, your eyes immediately glaze over and all you hear is the “wonk wonk” of the adults from a Charlie Brown special. Inside my head is the flashing red light and loud voice signaling “Danger. Danger. You are engaging in a discussion of a topic you know nothing about. Abort conversation to avoid massive embarrassment.”
But the truth is that investing and retirement accounts are something worth knowing about. Even a financial neophyte like me knows that if you start socking away for retirement early in your career you have a huge advantage. In this case, time really is money.
So, we interviewed financial blogger phenomenon and author of Your Money: The Missing Manual, J.D. Roth, for the Cliff’s Notes of Retirement 101. He gave us almost enough to get you through a cocktail and conversation with a financial planner without faking it. Keep reading »
When I began dating my now husband, I already had a little girl from a previous relationship. In order to get serious with me, he had to adjust to the idea of late-night dinners at restaurants to takeout scheduled around bedtime. Luckily, he did so beautifully and won both my and my daughter’s hearts.
One wedding, two successful careers, and a substantial mortgage later, my husband adopted my daughter and we were ready to add another tax deduction to the mix. We were used to having to make adjustments to accommodate life’s surprises, so we thought a baby would cause minimal monetary ripples in our fairly stable life. We couldn’t have been more wrong. Keep reading »
In the latest episode of Therapy For Your Pocketbook
, Connie confesses she’s been keeping her purchases in the closet and under the bed — anywhere her live-in boyfriend won’t find them. Finance Expert Manisha Thakor
says it’s OK to have fun with the money you’ve earned, but when spending gets out of control it affects you and your partner. Show you’re responsible by setting up an account specifically for “Want” purchases. [Therapy For Your Pocketbook
] Keep reading »