Financial Planning Template: What You Must Know | Work Goes Strong

Financial Planning Template: The One Thing You Must KnowMary Rowland wrote about money for decades. Then she took a course that gave her a new financial planning template to revolutionize her life.By: The Aging DivaMarch 26, 20121 CommentprintThe right financial planning template can transform your life.Source: Getty ImagesThe right financial template is one that allows you to follow your passion.Share This StoryemailinSharePin itMary Rowland has been reporting on personal finance for more than 30 years, authoring books and writing money columns for a variety of websites and magazines. Just recently, she had an experience that has revolutionized her approach to managing her money – a whole new financial planning template. “When I took training to become a registered life planner – someone who looks at your whole life rather than just your money life – I began to

via Financial Planning Template: What You Must Know | Work Goes Strong.

How to Spot a Money Waster

“Something you keep on buying that just isn’t worth your hard-earned dollars.”

That’s Kristin Colella’s definition of a “money-waster” in her article published March 23 in the online magazine MainStreet.

Colella cited Rick Kahler’s recommendation: “Some of the best money a consumer can spend is for a subscription to Consumer Reports.” & I agree.

An interesting article.




You may pride yourself on your haggling skills or your sixth sense for sniffing out a great deal, but even the savviest of shoppers can fall prey to a “money waster” – something you keep on buying that just isn’t worth your hard-earned dollars.

Sometimes it’s those candy bars and celebrity magazines you throw in your cart at the grocery store checkout, while other times it’s that product that needs endless repairs. Money wasters are different for each person, but there are some red flags everyone can watch out for that could indicate a product or service is sucking you dry.

Read on for our tips on how to spot a money waster in your own life.

via How to Spot a Money Waster – MainStreet.

What Happens if My Broker Goes Bust?

When the unthinkable occurs, the Securities Investor Protection Corporation steps in to help investors.

I know that the FDIC insures the funds in my bank account, but what about funds in my brokerage account? What would happen to them if my brokerage went bankrupt?

Answer: Although many people are familiar with the Federal Deposit Insurance Corporation, or FDIC, the government-established agency that insures bank deposits,

via What Happens if My Broker Goes Bust?.

Secrets to Retire Successfully

Formerly head of the math and science department at a New Jersey community college, Jan Cullinane left academia to research, write and lecture about retirement. Her book, The New Retirement: The Ultimate Guide to the Rest of Your Life, outlines all aspects of retirement, not just the financial realities. Here, her seven secrets. #1 Have something to wake up for every morning. “We need structure, intellectual stimulation and we want to give back. What you look forward to could be a part-time job, volunteering, even playing golf.”

via Secrets to Retire Successfully | Work Goes Strong.

Budgeting on a Low Income

Let’s get the obvious out of the way–living on a low income is tough.

It’s a big mental strain to just barely cover your bills month after month. The good news is that if you make a budget and look for little ways to save money, a little planning will pay off big time. It will give you some breathing room, which really helps your morale.

For starters, Dave teaches to maintain the

via Budgeting on a Low Income.

Buy Used and Ignore Myths of New Car Buying

I found this article by Rick Kahler full of great points.  This is the kind of approach that will make a huge difference in your financial life over the years. If you have a chance, I suggest you read The Millionaire Next Door: The Surprising Secrets of America’s Wealthy (1996,  is by Thomas J. Stanley and William D. Danko.

There is a good summary in Wikipedia at :



Have you ever seen a Super Bowl ad touting how much money you could save if you bought something second-hand? Of course not.

There’s not a lot of encouragement in our culture to buy used stuff. Even the one exception, a used home, is described as “existing.”Buying used just isn’t cool—that is, unless you’re a wealth builder.

Many of them look upon buying used as more of a badge of honor than an embarrassment.  Certainly, there are many items that are best purchased new.   Toothbrushes, toilet paper, and underwear come to mind.   Yet there’s one thing that’s almost always better to buy used—a vehicle.  Let’s look at a few common myths around buying a new car.

1. “Buying a used car is just buying someone else’s problem.” That can certainly be true if you don’t do your homework. When shopping for a used car, be sure you research the model’s repair record. The best place for this is Consumer Reports. An inexpensive online subscription will give you loads of detailed information about every year, make, and model. Narrowing your search to the top used car values will significantly increase your odds of buying a great used car. Before writing a check for even a top-rated used car, take it to a trusted mechanic for an evaluation. The money you spend will be well worth the future headaches you save.

….. read the complete article here …

Rick Kahler: Buy Used and Ignore Myths of New Car Buying | Financial Awakenings.

Helping Children Understand the Meaning of Money and Wealth

Many of us are trying to raise money smart children (or grandchildren)  – children who understand the role and value of money and who can handle money in an intelligent way.  In this article, psychotherapist Marilyn Wechter shares insights into how parents can better communicate with their children about the topics of money and wealth, including practical tips on establishing effective allowances and budgets.  I hope you find it useful.



Q: At what age should children begin to be educated about money?
A: You talk about it as soon as they can start understanding those concepts. When children are in elementary school, you can introduce the concepts of planning and saving, long-term gratification and short-term gratification, and “giving back.” You gear the conversation to where a child is developmentally and what he or she can cognitively understand at that point.
Q: How can we help the next generation learn to manage what they have and adapt when they encounter challenges (financial and otherwise)?  …….

Read the complete article here  Helping Children Understand the Meaning of Money and Wealth.

Larry Smith: Why you will fail to have a great career | Video on

In this funny and blunt talk from TEDxUW, Larry Smith pulls no punches when he calls out the absurd excuses people invent when they fail to pursue their passions.

A professor of Economics at the University of Waterloo in Canada, Larry Smith coaches his students to find the careers that they will truly love.

via Larry Smith: Why you will fail to have a great career | Video on

Getting Spouses to Open Up Is a Key Part of Financial Planning for Couples –


When couples first come to see Bruce Helmer of Wealth Enhancement Group in Minneapolis, he often hands them a deck of cards. Each card has a value written on it, such as family, spirituality, or adventure, and he asks each spouse to narrow down the 50-card deck to the 15 that mean the most to them. Eventually they must whittle down their choices to 10 and then five. At that point, they reveal their hands.

More in Wealth Adviser

Who Will Run the Family Business?

How to Cut Your Health-Care Costs

Kids, Let’s Play the Money Game!

Read the complete report .

The outcomes are often surprising to the pairs, who may never have known, for example, that a spouse had dreams of climbing Mount Everest or starting a nonprofit. It also points to one of the biggest challenges in financial planning: Getting couples to sit down and articulate what is most important to them.

via Getting Spouses to Open Up Is a Key Part of Financial Planning for Couples –