When you go in for your annual physical, the doctor will look at certain numbers to determine how healthy you are. Meaningful numbers to doctors are your blood pressure, your cholesterol levels and blood glucose levels, and your body mass index. If any of those are at harmful levels, your doctor will give you advice … Read More
Managing your money involves not only tracking your spending, but also monitoring the timing of your expenses. If you’ve never mapped out important financial dates, I recommend getting a regular calendar, preferably one with plenty of room to write on it, and go through this exercise: Mark down the dates that you receive income including … Read More
I want to introduce to you the concept of thinking of managing your money as part of your overall self-care. Wikipedia says, “self-care is any necessary human regulatory function which is under individual control, deliberate and self-initiated”. Simply put, as this fact sheet says, “self-care is care provided for you, by you”. Read anything on … Read More
In recent posts, I’ve covered issues widows face regarding being seen as an open wallet and how to wean adult children off of financial support in cases when they’re capable of being financially independent. Today, let’s look at those instances when there are legitimate reasons for lending money to your adult children. I won’t go … Read More
Recently, I wrote about how widows can often be targeted as an open wallet for other people — unscrupulous con-artists, well-meaning advisors and sales people, and even family members. Today, let’s look closer at that last category and in particular adult children who continually come to mom for financial support. I understand the emotional aspects … Read More
One of the most unfortunate financial consequences of widowhood is certain people will get the perception you now have extra money. They might think you have a lot of it (even if you don’t) and therefore think you are now a source of funds for their needs or wants. As a widow, you may be … Read More
In my last post, I talked about how budgeting is viewed with disdain by virtually everyone. I also mentioned that before attempting to work out a budget, it’s important (if not essential) to begin by tracking your expenses for at least one month so you see how you’re really spending your money. Today, let’s take … Read More
The “B” word. Budgeting. Uggggh! (slight shudder). Budgeting is probably one of the most hated words in personal finance topics. I can honestly say I have NEVER met anyone who likes budgeting. I’m not even sure I’ve met anyone who is lukewarm on the subject. If budgeting is seemingly universally disliked, it begs the question … Read More
Your success with managing money (success as in being proficient, not necessarily in being wealthy) has a lot to do with how you think about money. This correlation has been studied for decades and proven time and time again. If you want to get better at managing your money, if you want to remove financial … Read More
In my last post I talked about how, during the process of settling your spouse/partner’s estate, you’ll have to go through all of the financial and business accounts. While doing so, it’s a good time to take stock, tally everything up, and do a check of your own net worth. It’s also a good time … Read More
In my last post, I talked about the struggle a surviving spouse has when they realize that they are now on their own financially. I talked about how couples make their goals and plans with a “we” and “our” perspective and how difficult it is to adapt to flying solo. I mentioned that this adjustment … Read More
When I worked as an investment advisor, one thing that I saw widows struggle with after their spouse or partner passed way, was the realization that now they were on their own. I don’t want to imply that the surviving spouse was helpless at managing the financial affairs. Not at all. In fact, with the majority … Read More
