Tag Archives: Spending plan

Six steps to begin your career change

By Karin Mizgala MBA, CFP

iStock_000037313958SmallThere is a popular expression, that’s actually the title of a book published in the 1980’s, “Do what you love and the money will follow.”  But my experience as a financial planner and money coach tells a different story.  The people who are most successful following their bliss are the ones who don’t just assume the money will follow, they take charge and make a plan. These six steps are a great way to start.

Step 1: Evaluate. Look at this career change decision as an opportunity to evaluate your mindset around money. Examine your limiting thoughts, and be determined to believe in yourself and your ability to take charge.

Step 2: Take stock.  With a positive attitude in place, take stock of your assets, savings and debt level. You can use this Net Worth Statement to get started. If your debt is high, (especially credit card debt) you will want to work on lowering that debt before you make changes. But don’t let debt stop you, let it take you to step 3. Continue reading →

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Five reasons budgets fail

The majority of our clients make a very good income, yet many find themselves struggling to get ahead financially. Time and again one of the first things we’re asked is; what am I doing wrong?

Most have tried to stick to a budget with little success, so the question is; why do budgets that work on paper, fail to work in practice? We’ve identified five reasons that contribute to budget frustration.

Exhausted

1. Unrealistic or Missing Numbers

Many of us underestimate how much we actually spend on everything from groceries and gifts to dining out. We also tend to forget to include expenses like annual credit card fees, Halloween candy, iTunes, Netflix, school field trips, school lunch programs, Costco memberships, and charitable donations.

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