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How To Organize Your 2014 Budget

Even though exercise and diet remain the top two New Year’s resolutions that most Americans have, the next few days might provide you with some opportunity to visit your overall 2014 spending plan.  It can be a painful process sometimes building out a spending plan (or budget) as your self-reflection may often reveal ugly spots that you just don’t want to see. The first and most important step toward a financially successful 2014 is to get a reality check around where your dollars and cents were actually spent in 2013.   Here are my six tips on how to organize and set up a household budget.  This is the bedrock of what has created a successful personal financial plan for my household for many years. Gather The Last 12 Months Of Fixed Expenses– Fixed expenses are generally expenses that do not change much over the course of the year.  An example of this would be your rent or mortgage.  Most of ...

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Should I keep my old car or buy a new one?

I get this question all the time, especially in Atlanta where people are car conscious. The debate around how long to keep the old car you have been nursing the scratches and bruises versus getting the latest and greatest new ride to put on the highway. Take the emotions out of it, and I can give you some sound advice around how long to hold on to the clunker. Remember, the car you buy (unless it is a collector’s item) is one of the sure fire assets to constantly depreciate on an annual basis the moment you take it off the lot. However, here are some thoughts you should consider before you make the plunge. Compare your current overall repair and maintenance bills versus the cost of the new car payment. While a new car will have some maintenance on a yearly basis, you really need to compare the total annual cost of all of your repair bills versus the ...

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