Five Money Moves To Make If Your Company Files Bankruptcy

As we get deeper into the calendar year of 2018, bankruptcies are at an all-time high for the retail sector.  In fact, in 2018 store closing are expected to be up 30% and cross over 10,000 retail stores that will close this year.  There isn’t a person you run across today who won’t admit that online companies are killing brick and mortar.  Even if your company says they will reorganize their debt and not officially lay everyone off, it’s probably time you make some smart financial moves now to get your personal financial plan in place.   Make sure you take care of all of your health items- Health insurance is one of the biggest things to be thinking about if your company is filing bankruptcy. What you want to understand is what will be happening with your company benefits. If you do lose your job, do you understand the COBRA rules and the costs? Do you understand what the ...

Read More →

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 ...

Read More →

Hey Middle Class – It’s $369,000 A Kid!

So what does it take to raise a child?  They used to say it took a village to raise a child.   Today it can be more challenging than ever with the influence of television, internet, and music coming at our children from every angle possible.   I know this as my kids are twelve, ten, and eight years old respectively.   But, according to the Department Of Agriculture (www.usda.org), it will cost a middle class family $369,000 to raise a child from birth to seventeen years old which represents slightly over $20,000 per year to your annual budget. In the report, a middle class family is considered to be incomes between $56,670 and $98,120.   Child rearing was the largest expense in raising a newborn, followed by child care/education, and then food.   Whether you are a single parent family or a married couple, expense for the child increasing significantly as the age of the child increases.  The most amazing part of this report ...

Read More →