Ever wondered why financial habits are sometimes hard to change? Maybe you don’t need convincing, and you understand the mathematical or logical reason behind the need for change. The problem is in the doing it by growing good financial habits. Here’s why: the pain of the problem (i.e. bad habit) has yet to exceed the perceived pain of the solution (i.e. …
Five Financial Planning Practices (You Should Begin Today)
There are certainly a lot of bad habits surrounding money in our culture, as evidenced by the fact that over half of American families live paycheck to paycheck. Perhaps lower salaries or loss of income is to blame, but how much less would the impact be if the American public would adhere to a few financial planning “best practices” surrounding …
Are you financially proactive?
Steven Covey, in his best seller 7 Habits of Highly Effective People writes that the in order to be effective, you must “Be Proactive.” Don’t blame others for your behavior. Instead, focus your time and energy on things you can control. PREPARE(proactive) VS RESPOND(reactive) In counseling, the proactive coping approach denotes behaviors in which one will prepare for an event …
The American Nightmare: Putting the American Dream on a Credit Card
In a previous blog, we wrote that the price tag for the American dream is around $130,000/year. If a household does not have that kind of income, how does its members keep up with the Joneses? Some do through the use of credit cards. “Buy now, and pay later” often means “pay later and pay more too! In 2017, …
Are You a Victim of Financial Self-Sabotage?
One of the biggest blocks to success is a client’s financial self-sabotage. As coaches, we’ve seen this happen. Financial self-sabotage slows if not stops the progress toward financial goals. Self-sabotage includes keeping secrets from your financial coach, your spouse, and even yourself. CONSIDER…. I have a fitness coach whom I hired to get me in shape. I do all the …
The Simple Millionaire Mindset
Recently we’ve encountered a trend among a sizable percentage of clients and non-clients alike. It’s an attitude toward cash inflow that I’ve seen many times before but seems even more prevalent in today’s economy. The Millionaire Mindset is the idea of paying others ahead of yourself, or better put, the “omission” of paying yourself first. You’ve heard us label …
What are the purposes for recurring monthly sessions with a financial coach?
Would you be surprised to know that our most successful clients have monthly sessions? There are four main reasons why they are committed to staying engaged with us in the form of monthly sessions: 1. Monthly sessions inspire the discipline to create/set up the plan for the next inflow of cash. If you’re following financial “best practices,” then every month, each …