Tag Archives: financial planning

Health Insurance and the Single Parent

I can just hear the groans now as I use those two words: Health Insurance. What issue is more controversial, more stressful, and more overwhelming for ANY family, if not health insurance? For single parents, getting adequate health insurance coverage for our kids and our families can be an incredible challenge and one of our big focuses as we look for adequate work and benefit packages… Years ago, when I was negotiating my divorce settlement, I remember health insurance was a big topic. My ex-husband and I spent some time and detail figuring out what was going to be fair … Continue reading →

Expect Your Financial Picture to Change

Budgeting and Single parenthood go hand in hand. Sure, there are those celebrity and wealthy single parents but I’m willing to bet that most of us here do not fall into that category! Still, all that budgeting and financial stress can get us down after a while. As a word of hope I want to remind you that you can expect your financial picture to change and improve over time! When we are first adjusting to life a single parent–whether we have chosen to embark on parenthood solo, or a death or divorce has chosen the circumstance for us–it is … Continue reading →

What Should You Do When You Get a Raise?

Every time you get a raise, there is a little thrill as you consider what you can do with all of that extra money. Depending on the size of your raise—cost of living versus a new job or promotion—you need to consider how much it really will affect your finances. So often people just increase their spending to match the amount of money they are making, and so do not reap the benefits that you could otherwise. If you are able to make ends meet on your current salary here are three tips of what you can do with that … Continue reading →

Take a Class in Financial Planning

Before you spend a dime to hire a financial planner, look into enrolling in a class. Many Junior colleges and community centers offer these types of finance classes. You will find them on a variety of subjects, from budgeting to estate planning. Usually the cost is less than $50 for a couple hours of instruction time. A financial planner will cost you far more than that, in both time and money. Numbers and money management is not everyone’s cup of tea; but even if you failed math class, you can still benefit from a financial planning course. It should be … Continue reading →

What Motivates You to Manage Your Money?

What motivates you to manage your money? If you are just beginning to manage your money and to get your debt under control was there a specific experience that brought you to that point? Or if you have always managed your money, saved, and avoided debt, why do you think you do this? Do your parents have an affect on the way that you handle your money? I think that my biggest motivating factor is seeing the stress that money has caused other people. I also have plans for my retirement. I want to travel and help others. I know … Continue reading →

Financial Advisors

Even if you feel that you do not have enough money to talk to a financial advisor, you may want to take advantage of the services one could provide for you. A financial advisor can do more than simply help you with your investments; she can sit down and help you plan out your future. A good financial advisor will take the time to sit down and learn your goals and dreams, and then work with you to help you achieve those goals. Your financial advisor will likely look at your spending and saving habits. She may be able to … Continue reading →

Do You and Your Spouse Deal with Finances Together?

In some marriages, one spouse holds the “purse strings” (or the checkbook and passbook) while the other knows very little about the financial situation or has very little control over it. For some couples, this works fine because one spouse may prefer not to have the responsibility while the gladly takes it on. For other couples money can become an issue of control in their marriage. It seems like there should be a happy medium. Even if one person deals with the bills, balances the checkbook, applies a certain percentage of the household income to savings, and generally takes care … Continue reading →

The Family Business

When families think of their personal financial planning, it might be helpful to consider how business companies work and how corporations plan and use their financial resources. With a business the main objective is to earn a profit and efficiently use the businesses capital, to gain a return on the original capital investment. The goal is to achieve a level of success consistent with the level of risk the business assumes. Businesses and corporations, make financial decisions all the time they use their profit funds and the anticipated rate of return to lean many of the choices the make. Take … Continue reading →

Is Your Budget Set in Stone?

One mistake that many people make is thinking that their budget is set in stone. This can be an easy mistake to make. The reason it can backfire is that once you have gone over in a category, many people think they have blown the entire month, and then stop worrying about the money they are spending. It is important to realize that you can adjust your budget throughout the month, so that you never spend more than you make. You should have some categories that will cover unexpected expenses. This may be an invitation for your child to attend … Continue reading →

Five Financial Areas to Consider When Choosing to Be a Stay At Home Parent

Are you considering making the switch to being a stay at home parent? This can be a difficult decision to make. It can mean a significant loss in income. It may mean putting some of your money goals on hold for a time. It can also mean sacrificing your career for a short period of time. Here are five financial things to consider as you make the decision. 1) You need to look at how much income you may be losing. Many couples today have the parent who makes the least amount of money stay home with their children. If … Continue reading →