5 Ways To Increase Your Family Cash Flow

One of the biggest financial planning concerns I hear every week is how to manage the family cash flow.  So many people see their incomes increasing, but it isn’t necessarily translating to the bottom line.  If you are struggling to make ends meet or just want to stretch your paychecks further, here are five ways to increase your family cash flow. Review Your Tax Return? While you might love getting a tax refund, this is essentially giving an interest free loan to the Government for a year or more.  While some people see this as a form of forced savings, one strategy you could consider is to adjust your withholdings to get more of those dollars back in your paycheck so you aren’t falling behind every month.  In addition, many taxpayers don’t spend the time to take advantage of every tax deduction legally available to them.  You should thoroughly review your tax return and what deductions are available to you ...

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Four Moves Every Business Owners Needs To Make With A Business Will

Most people are familiar with the term ‘will’, but those that own a business often can’t make a distinction between having a personal will and a business will.   Far too often, a business owner has an unforeseen situation which could be a divorce, disability, or death. This leads to massive complications about the succession plan on what will happen with the business.  Does your partner want to work with your wife?  Are your children ready, willing, and able to take over the day to day operations of the business?  Will your family get the value of your business should you pass away?   Here are four moves every business owner needs to make when you put together a business will. Have a valuation method or a business valuation done within the business will. One of the questions that comes about if an owner passes away is determining the actual value of the business.  As a business owner, you never want someone ...

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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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What Fantasy Football Can Teach You About Diversification (or Your Financial Plan)

The football season is upon us again here as the fall rolls around and neighborhoods and workplaces are buzzing with Fantasy Football fever.  The Fantasy Trade Sports Association commented that the Fantasy Football market is more than a 70 billion dollar industry today and growing.   With so many people joining multiple leagues, what can this popular game teach us about how we manage our portfolios and diversify our assets. Do Your Homework? It’s shocking how many people don’t know what they own in their 401(k), IRA, or their brokerage accounts.  You may have purchased a target fund or some growth and income fund, but you don’t actually know what you own.   Moreover, you may not understand the risks on how much you could gain in one year or how much you could potentially lose in one year.  It’s important to read the prospectus before you invest, look at the track record of the investment you will be making, and learn ...

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7 FAFSA Mistakes That Could Crush Getting FREE Money

In many parts of the country kids are already back at school and the rest of the children will be starting right after Labor Day.  While the college football season is kicking off, most families don’t realize that applying for free financial aid is literally right around the corner for 2018.   The problem is that most people don’t understand how the process actually works and often sell themselves short of getting free money that could help offset the growing cost of college.  Here are seven mistakes that could crush your ability to get free money for 2018. Fill out the FAFSA form on October 1st – If you are interested in getting the most possible money from the Free Application For Student Aid, then you must fill out the forms by October 1st.   Some of the financial awards are issued on a first come first serve basis, so when you fill out the form matters.  Some states and some colleges ...

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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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