Studies have shown that companion animals improve our health — reducing our stress, lowering blood pressure, increasing physical activity and even boosting social interaction. For the elderly, this is doubly true. These are the many benefits of pet stewardship (many of us joke that we’re simply staff for our feline and canine family members). For all the love we give and receive from our pets, there is a related expense — the cost of food, treats/toys, grooming supplies, kitty litter, and routine veterinary care. If a pet becomes ill or injured, those costs can dramatically increase. When living on a fixed income, these unexpected expenses are stressful. And when is how much simply too much?
The following is a guest post from a friend who is living what many of my clients’ families undergo every day. Helping our aging loved ones can be challenging. I hope the advice offered from this real story is of comfort and assistance.
According to a recent study, 37% of seniors have experienced financial abuse. On average those seniors lose $36,000! And the actual number of victims and dollars stolen are most likely much higher. Why? Because seniors are reluctant to admit to and are less likely to report fraud to the authorities.
For some, budgeting is an exciting journey, exploring where one’s money goes each month. Others, well… let’s just say they’d prefer cleaning their bathroom over creating a budget and reviewing it each month. A bullet journal may be the way to turn those debits and credits into a healthy and helpful game. Let’s take a look at what they are, what they do, and the different types available.
Summer is coming to a close and many parents are sending their children off to college. Whether your child is attending school out of state or staying home, there are unique financial challenges related to college.
Last month AARP published an article about managing daily finances on a budget. I was honored to be interviewed and quoted in the article, providing my perspective both as a board member of American Association of Daily Money Managers (AADMM) and as a working daily money manager. Here are my thoughts on the article, the important points they made, and a few they missed.
Do you daydream of winning the lottery? Even as a Daily Money Manager, I too fantasize about winning the big jackpot. Sometimes money can make people crazy… whether it’s an inheritance, unexpected windfall, or something like winning lotto. So here’s my advice.
The San Francisco Bay Area is booming! Unemployment is at an all-time low. Our freeways and expressways are jammed with commuters. In times like these — where recession concerns are on the backburner — I’ve been musing about money habits. In the spirit of the 7 Habits of Highlight Effective People, I’ve come up with my own 7 Habits of the Financially Savvy.
Schools out and Summer is here! Many of my clients are planning their vacations. Concerns about how they’ll manage their bills and overall money management concerns often arise. Before you pack that suitcase, here are a few things you can do to make your next vacation a financial-worry-free zone.
The U.S. savings rate hovers just about 5%. This statistic reflects the ratio of personal income saved to personal disposable income during a certain period of time. I guess the good news is that it’s a positive number and it’s double of the rate reported back in 2008, the deepest part of The Great Recession. If you look at the savings rate over the last six decades, you’ll see a shocking downward trend. Back in the 60’s and 70’s Americans were saving nearly 10% of their disposable income. Now 62% of Americans have less than $1,000 in their savings account. So what gives?