Review Category : Relationships

What Women Need To Rethink About Their Money After Divorce

  Have you ever heard that term ‘they traded in for a new model’ when it comes to discussion around a divorce?   While divorce is never emotionally easy, the more challenging part especially for women is thinking about how to get their finances set after the divorce is finalized.  Many women don’t build a financial plan to recalculate their own goals and objectives, nor do they always fully understand the implications of child support, alimony, or how to best get the assets set up that they took over after the divorce.  Here are five important consideration every woman should rethink after the divorce. Your Home – The last thing in the world you want to do is to sell the house that your kids are used to or move to a new school district. Just the thought of making new friends, new neighbors, and navigating a new school traffic pattern in the morning can be daunting.  However, many women take ...

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When You And Your Spouse Just Can’t Agree About Money

It starts with the small arguments. You don’t agree on where to eat out on a date night during the weekend. Then it turns to small petty arguments with not being able to agree on whether to paint the family room that has been all scratched up by the kid’s toys. Ultimately, it leads to full scale arguments about issues on whether to send the kids to private or public school, whether to vacation in Hawaii, and potentially doing a complete bedroom remodel 10 years after you have lived in your home. Although you tied the knot and agree it would be until ‘death do us part’, there are many nights one of you goes to bed before the other simply over the fuming battle about money. Money creates interesting behaviors in all of us.  Some of these feelings were ingrained is us as children based upon the way we were raised.  Some of us came from nothing and our ...

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Helping You Save Money On Your Wedding

– Ted Jenkin | Atlanta Money Guy Topic: Ted Jenkin stops by the studio to give you tips on getting married and not spending all of your money! Our own Nate needs a little help with this, unless he takes Bailey’s advice and gets married in a Moose Lodge. Taped 8/30/16 Listen every Tuesday morning at 8:00 a.m. on ROCK 100.5 | Atlanta’s Rock Station to “Your Smart Money Moves” with The Rock 100.5 Morning Show and oXYGen Financial. Ted Jenkin, CFP® and Kile Lewis, CRPC® are the founders of oXYGen Financial, and our chief financial officers. All your money questions answered Breathe Easier with oXYGen Financial: http://www.oxygenfinancial.net ...

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5 Cheap Date Ideas For Valentine’s Day

According to the National Retail Federation’s 2016 Valentine’s Day consumer survey conducted by Prosper Insights and Analytics, 54.8 percent of consumers will celebrate Valentine’s Day.   If your family is running tight on a budget this year, how will you be able to take your date out and still make it a very special day?   Sometimes the word “cheap” means that it won’t necessarily be good.   However, with these smart money moves you’ll be sure to warm your partner’s heart. Sunday Brunch vs. Saturday Dinner- Technically, Valentine’s Day falls on a Sunday this year.  This gives you even more reason to do a special brunch instead of an expensive Saturday night dinner.  While Canoe is one of my favorite places for brunch in the city (I’ll be there on Valentine’s Day), there are so many hot and trendy spots in the city that you can try. Netflix Binging-  I suppose you could binge watch almost any program that you have stored ...

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Five Financial Mistakes To Avoid In A Divorce

When couples split up, it hardly ever ends up 100% friendly.   While most people think about the emotional strain of divorce, the financial assets of the couple including their retirement accounts must get split up as well.   Making the wrong financial choices during a divorce can cause a great deal of financial strain down the road.   It could lead to unnecessary taxes and penalties as you continue to work toward your financial goals.  Here are five mistakes to avoid financially when going through a divorce. Update Your Beneficiaries– One of the biggest mistakes I see after a divorce is the failure to update your beneficiary information.   It’s likely that your ex was the primary beneficiary and you never named contingent beneficiaries.  It’s a good time to go back and determine what family members should be on your beneficiary designations as your IRA’s and life insurance contracts are an operation of law at death.  They will go exactly to the people ...

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Should You Loan Your Girlfriend or Boyfriend Money?

“So our relationship is solid. We are both 28. I’m not ready to propose, and there are certainly some kinks. But she has asked if I would consider loaning her some money so she could pay off some of her credit card debt. Details: she has over 8k in CC debt and about 7x that in student loans she makes about 32k a year. Much of this she amassed as she finished graduate school and struggled for a year to find full time employment. Which she has had for the last few months. She expects her income to increase over the next couple years. I have zero debt and make approximately 50k. Additionally, I have about the same as my net wealth. About 1/3rd of which is liquid. We also live in expensive New England and I have been desperately trying to save money for a home in a few years. She would like to as well but her debt ...

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Is Your Spouse Financially Cheating On You?

Sometimes you might wonder if your spouse is signing away on documents that you will never be aware of down the road.   Or, maybe you are concerned that there is some secret stash of money you didn’t know about because it wasn’t included in the family net worth.   At all times in our lives, we will inevitably have little whispers in your ear about whether or not there is cheating going on in our relationships.   Since this is a personal finance column, I’m really talking about financial cheating.  How can you tell if your spouse is financially cheating on you? Swap Credit Reports- What happens in this situation? You think everything is going well in your family finances and then all of sudden you find out that your spouse has racked up $20,000 of credit card charges.   How mad would that make you?  What would that do to your relationship?   It won’t make sense for most families to have all joint ...

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Why Do You Stick Your Tongue Down My Throat?

I recently attended a conference and was able to hear Josh Brogan speak about social media. The entire speech was entertaining, but one statement he made during the speech stuck out to me when he discussed the new world of Linked In. He shared a comment something to the effect of I accept you as a connection and you stick your tongue down my throat. I laughed at first, but then I thought to myself, “What in the world has happened with some basic etiquette?” Since I have roughly 5,000 followers myself, people ask to get connected to me all of the time. Here’s a recent scenario of what happened, and then I’ll share my three very simple tips for LinkedIn etiquette because apparently companies aren’t training their sales people anything except to be robots and just keep clicking the send button. An individual on LinkedIn asked to be connected with me.  I chose to accept the connection (as I’m ...

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Five Financial Tips For Same Sex Couples

When the Supreme Court recently ruled that the bank on same-sex marriages in 13 states was unconstitutional, many same sex couples will now face a different set of rules when it comes their overall financial plan.   We have had specialists in this arena on our staff for years, but now is the time to really revisit the best way to be the CEO’s of your family finances.  Here are five tips you may want to consider for your future. Revisit Your Group Benefits During Open Enrollment Season- More than 50% of U.S. employers offers employees the opportunity to buy life insurance on their spouse through the company group policy.   This is really good news for same sex legally married couples as long as the group policy is covered underneath the federal Employee Retirement Income Security Act (ERISA).   You should revisit your personal insurance situation and the best way to maximize your coverage while minimizing your cost for your family. Prepare ...

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