Comments on: Family Finances – Staying in Control

By: TermMonster

TermMonster — Thu, 10 Dec 2009 09:21:27 +0000

Coming from a financial planning background, this is step #1 with our clients. We try to get people on track and educate them on cash flow and where they can save (mortgage, credit cards, life insurance). Obviously we’re in the LI biz, and we’re seeing a pretty big shift from the old days of whole life, pay forever policies to new cheaper, and more flexible term life policies. This should be finance 101 for anyone starting a family.

By: Pau

Pau — Sat, 31 Oct 2009 04:57:25 +0000

My husband keep track of our finances, I would like to do it my self but it is overwhelming
Pau´s last blog ..Discount Laptop Bag

By: John

John — Tue, 20 Oct 2009 02:50:24 +0000

Keep it simple! Great advice Julie!

By: John

John — Tue, 20 Oct 2009 02:49:20 +0000

Thanks Matt! Sometimes it helps to be reminded of what we already know. It brings it to the “top”… and helps us get on track.

By: John

John — Tue, 20 Oct 2009 02:47:30 +0000

I think you’re exactly right Sandy. Most people put off saving until “tomorrow”. But unfortunately, “tomorrow” never comes. We also tried to teach the value of saving and postponing gratification to both of our children… no luck so far! Hopefully, they {and your daughter] will come around some time soon.

By: John

John — Tue, 20 Oct 2009 02:42:47 +0000

Putting together a good financial plan while we are young is so important Marg. Unfortunately, most of us don’t find this out until much later in life.

By: John

John — Tue, 20 Oct 2009 02:38:50 +0000

Two very good points cornyman. I am a proponent of using coupons and buying in bulk, but you have to plan and use some common sense. Buying something you don’t need or can’t use fast enough before expiring doesn’t make good financial sense. Great point!

By: John

John — Tue, 20 Oct 2009 02:35:25 +0000

Hey Blake! Isn’t that sad, that we spend more time planning our vacations than planning for our future? I agree that many divorces are probably caused by financial matters. This could definitely be changed through some planning and communication.

By: sandy

sandy — Sun, 18 Oct 2009 22:44:15 +0000

Starting young is very good advice, and probably the one most over looked. Everyone assume's it's something to do later. The other trouble is many young people don't make enough to feel like they can put something aside. But, even a little done regularly will pay big later on in life. We've given this advice to our daughter, who agrees; was gonna do it….but, hasn't as yet. Think it's time to remind her of it again.

Sandy

By: Marg Elmendorf

Marg Elmendorf — Sun, 18 Oct 2009 18:31:38 +0000

I wish I had followed those ideas when I was much younger. At the moment the only money I spend is the absolute necessity. It is amazing what you can give up when you have to.