Impulsive spending is probably the number one cause of the average American's financial woes. Consumer debt is at an all-time high because people tend to get things they can't afford and don't need. This type of spending is often linked to people's emotional state rather than their ability to logically reason. Sadly, this issue impacts … Continue reading 3 Clever Ways to Avoid Impulsive Spending
For some reason, I have been getting several video recommendations encouraging people to use credit cards instead of debit cards. However, many proponents of the FIRE movement advocate not using credit cards at all. Obviously, this advice is contradictory coming from so many financial gurus. As for me, I take the middle road when it … Continue reading When to Use a Debit Versus a Credit Card
Everyone seems to be talking about cryptocurrency these days. It's all over the news and social media. Even the average layperson who doesn't invest has heard about crypto. But, the challenge is that not many people truly know what cryptocurrency is or how it will potentially impact the financial market. Undoubtedly, it has disrupted the … Continue reading Should I Invest in Cryptocurrency?
There are many effective strategies for building generational wealth within your family line. It is important to start early in order to give your children a head start. However, it is never too late to start laying the foundation for your family's financial future. As with any other investment tool, diversification is key when it … Continue reading 4 Effective Strategies for Building Generational Wealth
It is very important to teach your child about managing money from an early age. This is especially the case in the unstable economic times of today's world. Our children deserve the best financial future and this starts with them learning how to properly manage money. Sound money management skills are foundational to building generational … Continue reading 3 Simple Ways to Teach Your Child Money Management Skills
The average person probably doesn't know much about their credit utilization ratio. However, it is one of the most important factors in building and maintaining good credit. Paying off debt in a timely manner is absolutely essential to keeping your credit on track. And, maintaining credit accounts over the long haul is likewise instrumental to … Continue reading What is the Best Credit Utilization Ratio?
Because I am a financial coach, most people assume that I am a strong proponent of the FIRE movement. If you have never heard of it before this acronym stands for Financial Independence, Retire Early. The FIRE movement started gaining momentum around 2010 and since then has taken off in millennium communities around the globe. … Continue reading Why I am Not a Proponent of the Financial Independence, Retire Early (FIRE) Movement
The answer to this question might seem obvious. You should use emergency funds during emergencies, right? Well it is not always that simple in everyday life. And it gets even more complicated in the midst of an unprecedented and particularly daunting economic crisis. In order to adequately answer this question you must first define what … Continue reading When Should I Use My Emergency Funds?