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 →

Making Realistic Financial Resolutions

WSJExperts – The Wall Street Journal Dec 16, 2013 3:00pm EST 3,998 Views Public THE JOURNAL REPORT: WEALTH MANAGEMENT MAKING REALISTIC FINANCIAL RESOLUTIONS (Recorded December 16, 2013 3:00pm) Ask a panel of financial experts your questions about making financial resolutions you can actually keep in this interactive video interview. THE PANELISTS INCLUDE Ted JenkinCFP, Co-CEO and Founder,oXYGen Financial Sheryl GarrettFounder,Garrett Planning Network Olivia MitchellProfessor of Business Economics and Public Policy,the Wharton School at the University of Pennsylvania Tune in to Spreecast.com for more opportunities to ask Ted the questions that can help you “Breathe Easier&#169”. ...

Read More →

Setting and Making Realistic Financial New Year’s Resolutions

It is almost that time of season when you will begin to ponder your new year’s resolution.  Will it be exercise?  Will it be a new diet? Or will it have something to do with improving your family finances.  Making resolutions (or goals) can be a very difficult process because it often makes you face some of your own realities like it or not.   When you decide to set goals that are realistic, I have been a big cheerleader over the years to use the S-M-A-R-T goal setting system.  Here is how it works. *S is for Specific– Be very specific about what you are trying to accomplish.  Don’t tell yourself you want to pay down debt.  Instead, give yourself a specific goal such as paying off $10,000 of debt. *M is for Measurable– Have a way to track your progress.   In the last example, make a chart for paying off $833 a month and cross it off each month ...

Read More →