wealth 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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Less Stuff, More Happiness (and More Money)

Mon, 14 Sep 2020 12:00:34 +0000

I read a book last year that I may have changed my life. It is called “Simplicity Parenting” by Kim John Payne and Lisa Ross, and it’s sooooo good. The premise is that kids (and adults) are stressed out by having too many choices and too much stuff. Not to over-simplify it, but the authors suggest putting all of your kids’ toys in one place and getting rid of half of them. And then, get […]

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Do You Have a Storage Unit?

Mon, 17 Aug 2020 14:00:54 +0000

When starting to work with clients, the first thing we do together is look for easy ways to cut spending. Since I’ve been doing this for a long time, I can quickly identify a few things we can discuss with the potential to save hundreds or thousands of dollars per year with minimal impact on their lifestyle (or sometimes no impact at all!). One category that fits into this first round of discussion is the storage […]

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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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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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Coronavirus Outbreak Financial Tips

Tue, 24 Mar 2020 21:03:32 +0000

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, […]

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How Digital Minimalism Can Improve Your Health and Wealth

Fri, 21 Feb 2020 17:41:02 +0000

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 […]

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