Do Millennials Face “Money Bullying”?

Have you experienced the same thing at home that I have been experiencing over the past few years.  As you plan out great family vacations, wonderful dinners, and cool birthday activities, you often find conversations about how one of your kid’s friends always seem to be doing something better?  I guess part of this has never really changed.  No matter how cool of a shin dig you end up putting together, there is always someone else who has Johnny one upped you already.  The difference with our kids today is that the vacations, the new clothes purchases, the new cars, and the special events are so much more in your face with Snapchat and Instagram with pictures meaning more than just a few words. In a recent study done by TD Ameritrade, some extremely interesting data came out about Millennials and their comfort level about discussing money.  While 56% of young millennials feel comfortable talking to their parents about money, ...

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Is FOMO Making You Poor?

Doesn’t it always seem that your friends or people you used to know are just flat out having a better life than you?  If you tune in to Instagram or Facebook on a daily basis, you’ll find someone who snapped a picture of themselves in a far away luxurious destination or in the front row of the latest concert in town.   With all of these images barraging us every day, does it have an effect on how we think about spending our money. One phenomenon to hit the scene in the past few years is a concept called (FOMO) which is the Fear Of Missing Out.  This is a far cry from (BOGO) Buy One Get One, so please don’t confuse the two of them.   With the power of social media today and the strong suggestions of images, we can often feel like we are missing out in the good times…the fun times…the best of times from what we see ...

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Quit Buying Stuff You Can’t Afford

Generation X is classically defined as people born between the years 1965 and 1979.    Pretty much those of you in your late 30’s and now, *GULP* into the early 50’s.  Having given personal financial advice to thousands of people, I can tell you that many of you who were born 1960 to 1964 fit within the Generation X type of financial and personal attitude.   Since I am 47 and have had a good deal of financial success on my own, I’ve noticed some big mistakes that I see my generation making with their money and how they think about money.    One of the main problem with our generation is that it seems we can defy gravity when it comes to buying anything but savings for our own future. Where do you think we should take the kids away for spring break this year?      Should we go away for Thanksgiving or would it be better during the holiday season?    I know ...

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5 Reasons You Aren’t Rich . . . Yet

Everybody at some point of their life has that dream of having enough money to do whatever they want whenever they want irrespective of cost.   Well, even if you do think about cost, that idea of becoming rich enough to walk in and tell your boss this is your very last day.   If you want to get rich, here are five things that may be in getting in your way from achieving financial independence, purpose, and freedom. You care what your neighbor’s think–  There are still many people holding on to their overpriced real estate waiting for it to come back.   In the meantime, the mortgage along with all the fixins you really couldn’t afford when you bought that house are killing your bottom line.    I believe most people are hanging on to those properties today along with the country club membership because of their egos and fear about what their neighbors will think.   It’s hard to swallow your price ...

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My 15 Year Anniversary

On Friday, I celebrated my fifteen year anniversary with my wife. I was reminded that will all of the gadgets, jewelry, clothes, and vacations you can buy with money, the best gifts in life are still free. Although I did get something really nice for my wife, some of the most enjoyable times we have had together over our fifteen years didn’t cost a lot of money. Here are five ideas that you can use if you are on a low budget, but you would like to do something special. ...

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Where did all my money go??

We're about 60 days into 2009, and one of the things people have been asking themselves is "where does all my money go?" When you look at your overall financial situation, your 401(k) has now been reduced to a 201(k). Your real estate property probably has devalued substantially, and really at the end of the day you make some income but you're not quite sure where all of money goes after you pay your expenses. One of the things that we recommend at this time is to ensure that you've got a quality spending plan in 2009. ...

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