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What is the true cost of a larger house? Since my wife and I are thinking about moving from our condo into a single-family home within the next year or two, I asked myself, “Is that a sound financial decision?” To answer that question, I decided to crunch the numbers for our situation. I knew this exercise would help us with this big financial decision. So, I did a line by line analysis of the Read More

Our lives have been turned upside down because of the pandemic, so I wanted to share what you can do now to financially prepare for life after COVID-19. As a side note, if you are facing financial hardship right now, please read our last post titled Coronavirus Outbreak Financial Tips. Since we don’t really know when our lives will return back to normal or what “normal” will be like after this, I wanted to share Read More

In light of the coronavirus that is sweeping across the globe and the economic implications thereof, I wanted to share some coronavirus outbreak financial tips to help you weather the financial storm brought about by COVID-19. As a money coach, I support my clients by encouraging them to track their income/expenses, and holding them accountable to their financial goals. But, in challenging times, my experience in working with people with all kinds of income streams, Read More

How much time do you spend looking at your phone or a screen in general? Well, just like mindful spending will improve your quality of life, being mindful of how you spend your time can have a similar effect. I recently read a book titled “Digital Minimalism: Choosing a Focused Life in a Noisy World” by Cal Newport. It got me thinking about my relationship with technology in my life. Specifically, how technology was affecting Read More

Many people who approach us can benefit greatly by hiring a money coach. Some, however, need to work with a different professional. The following are 5 reasons NOT to hire a money coach. Investment or Retirement Advice If you need guidance with your investments or retirement plan (i.e. your 401(k) plan) then a money coach is not going to be the best fit for you. A better resource is a financial advisor or a Certified Read More

A money coach does not give investment advice, but I thought it would be helpful to compile a list of articles that explain why you should contribute at least up to the maximum match into your 401(k) plan. Free Money: A surprising number of employees are missing out on a simple way to get “free money.” Tax Savings: Are 401(k) Contributions Tax Deductible? Automatic Savings: 3 Reasons You Need an Automatic Savings Plan Read More

Did your business do better than expected this year? If so, congratulations! While I don’t encourage frivolous spending to save on taxes (after all, your tax deduction is never more than the actual expense!), there are some ways for you to save money on taxes with smart business holiday spending at the end of the year. I will caveat that I am not a tax expert (always consult with your tax professional before undertaking any Read More

David and Mary* are another couple we worked with where one person wanted to work with a money coach and the other was hesitant, at first. Fortunately, Mary came around to the idea of working with a money coach, and now the two of them have achieved a lot as a couple! Here’s their story: Life Before Dr. Budgets David and Mary met in their twenties. They have been married for over 30 years and Read More