financial coach Archives - Dr. Budgets

Goal Planning for Real Life

Thu, 17 Dec 2020 21:24:35 +0000

Goal planning can be tricky. I think most of us set goals based on past experience. But the most inspirational goals come from envisioning a better future that looks and feels different than our past. Stephen Covey explained this concept in his book “The 7 Habits of Highly Effective People” with Habit 2: Begin With the End in Mind. He states that this habit is based on “the ability to envision in your mind what […]

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How Canceling Amazon Prime Changed My Life

Mon, 16 Nov 2020 12:00:26 +0000

As the founder of Dr. Budgets, you can safely assume I have a good handle on my spending. But, even I have blind spots when it comes to my household expenses. Amazon Prime was one of those blind spots. In early 2019 we canceled our Amazon Prime subscription, and we haven’t looked back. If you have Prime, you might be asking yourself “Why would you do that?!” The simple answer is that all clutter overwhelmed […]

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The Value of Having a Good Personal Financial System

Mon, 19 Oct 2020 15:39:50 +0000

My life is built around systems… that’s just how I’m wired. For Dr. Budgets, I have systems for managing potential clients, new clients, and coaching clients. I also have financial systems around the money that flows in and out of the company. On the personal side, I have systems for tracking my time, loading the dishwasher, paying the bills, and automatically saving. Which brings me to the topic of this post… having a good personal […]

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You Don’t Need an Emergency Fund for These Financial “Emergencies”

Thu, 16 Jul 2020 12:00:43 +0000

An emergency fund (or cash reserve fund) is important to your financial security. I would say paying off high-interest debt and building up an emergency fund are the foundation of your financial stability. This rings even more true during these unprecedented times. But, when should you tap into your emergency fund? What constitutes a financial emergency? I believe the list of actual financial emergencies is short. This would include unexpected life events such as losing […]

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Gina’s Success Story

Mon, 22 Jun 2020 17:57:42 +0000

Gina’s Background I consider myself to be an “elder Millennial.” I’m not quite Gen X and not really a Millennial. I’m happy to be referred to in that way, but that means we grew up with credit cards being peddled on college campuses (“Get a credit card, get a T-shirt!”). People our age had parents who talked to us about money, but they didn’t know that we were being marketed to so heavily by credit […]

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The True Cost of a Larger House

Fri, 15 May 2020 14:00:03 +0000

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 […]

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Financially Prepare for Life After COVID-19

Tue, 28 Apr 2020 17:58:38 +0000

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 […]

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Smart Business Holiday Spending Can Reduce Your Tax Bill

Tue, 26 Nov 2019 16:39:03 +0000

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 […]

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David and Mary’s Success Story

Fri, 27 Sep 2019 17:20:00 +0000

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 […]

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Why Hiring Your Child Is a Good Idea

Fri, 16 Aug 2019 16:04:09 +0000

So, is hiring your child a good idea if you own a business? I think so! As a money coach, I’m always looking for creative ways to save money for my clients, and hiring your child is a great way to accomplish this objective. First things first though… ensure you hire them the right way. I was reading a post titled 10 Tips for Hiring Your Child that has some good information about how to […]

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