How I Launched a Business During a Pandemic
Several of my clients have asked how I was able develop the financial flexibility to launch a business during a pandemic. This decision wasn’t easy, but was the culmination of a 20-year financial journey. And the lessons I’ve learned underpin how I approach...
US Employees Overwhelmed by Financial Stress
COVID-19 has been shining a light on a deep-rooted issue that existed before the pandemic—US employees are overwhelmed by financial stress. PricewaterhouseCooper’s 9th annual Employee Financial Wellness Survey, conducted in January 2020, before the pandemic, revealed...
A Cash Emergency Fund is More than Defense
Financial advisors typically advise holding six to twelve months of expenses in a cash emergency fund. This cash reserve, a strong defensive tool, will weather you through life's challenges. But, this fund can also play a role in a strong offensive strategy. Life...
Financial Foundations 3: Don’t Give Up Your Mocha Yet
Not ready to give up your daily mocha? If your daily coffee run brings you joy, eliminate other spending first. While these steps don’t replace living within your means and avoiding credit card debt, followed diligently, they can free up a decent amount of cash: Avoid...
Financial Foundations 2: Cash Flow
In our last post, Financial Foundations 1: Balance Sheet, we introduced the concept of net worth and showed you how to track your financial progress and set goals using a monthly balance sheet. Today, we'll discuss how to reach these goals by tracking your cash flow....
Financial Foundations 1: Balance Sheet
Once you’ve established your “20 Mile March,” how do you track your progress along your journey? The key tool is your personal balance sheet. Your balance sheet tracks your assets and liabilities so you know your net worth at any point in time. Here’s how it works:...