How Procrastination is Killing America’s Finances? How You Can Avoid Procrastination?

How to avoid financial procrastination?

One of the ways to show that you have control of your life is by paying ALL of your bills on time. Also, when you fix your finances, you will fix your life. Putting your bills in automation, and knowing exactly when they are going to be paid, will reduce stress, avoid late fees, and penalties, save you money, and above all, enable you to have more options. 

10 Ways to Avoid Financial Procrastination

Sign up for auto-pay. Most of your regular recurring bills – utilities, mortgage, car loan, etc. – provide you with the option of having the amount you owe automatically deducted from a designated bank account. Make it easy by making it automatic. 

When you make it automatic, you avoid paying your bills last minute. You might think that you will have more control over your money if you manage when you pay your bills. But do not fall into that trap!  You will have more power when you make it automatic. 

This also...

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Do you have any financial regrets in your life?

Do you have any financial regrets in your life?

At some point in our lives, we feel financial regrets.  Maybe it was something we bought when we shouldn't have one.  Perhaps it is something we should have done, and we didn't.  How about a wrong business decision by you or someone else?

There are a lot of things that we could regret.  

Here are some of my financial regrets...

  1. I cashed out my 401k three times.
  2. I maxed out my credit cards.
  3. I was investing over 100k in potential businesses and lost it all.
  4. I spent all I have saved on stuff and fun.
  5. I didn't start saving for my retirement early enough.
  6. I spent my money in a Real Estate Course instead of using that money for a downpayment. 

Do any of these resonate with you? 

We all have financial regrets at some point or another.  We all have made financial mistakes that we wished we can take back. However, instead of focusing on the disappointment, or the blame, or feeling sorry for...

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How Much Money Should I Put Aside For My Future Self?

So let me tell you that I have some news.  I am writing my next book, and as I write, so many ideas come up that I just had to stop and write this blog. 

I cannot stress enough on putting money aside for the future YOU. Unfortunately, and I have fallen into this pattern too in the past, we leave this for later or another day.  

Today, I am going to give you a few ideas on what to do, so you can set money aside and set yourself for financial independence. 

Let's get real...what matters is NOT how much you make, but how much you spend and on what.  

When you take a look at your income and then take a look at your lifestyle, are you wishing for a different lifestyle?  

If you are, then you have to watch what you are spending your money on, maybe spend a little less instead, and pay yourself first.  The other option to get a different lifestyle is to make more money, and put that additional money on...you got it, paying yourself first. 

The...

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Why is it so hard to save money for some people and not for others?

Why is it so hard to save money for some people and not for others?  

A lot of time I sit down with my clients and ask them questions about their goals and their dreams and the age they would like to retire.  

Once we are done, I spend a few hours reviewing what they said and their current financial situation and create a plan for them, (better than what they have of course) and show it to them.  

They get so excited when they see that implementing the plan will get them so much closer to their goals and dreams, and they want to separate as much as possible to reach those goals. 

However, after a month or two, they are not as excited about saving money and having that money going to investments, even their wealth will be growing. 

Why is it that after a few months, they neither want or feel that they can save as much as they committed to?  

Why is it so hard to save money for some people? Or rephrasing it, why does it seem that...

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Setting Your Kids For Financial Success! Part 2

Why do you want to set up a secure foundation for your kid's financial success? 

The simple answer is because you want your kids to learn the value of money.  The second answer is that you want to leave a legacy that lasts generation after generation. 

As you may know, kids make financial decisions since they are three years old.  If you are not sure, then I want you to recall who choose the cereal at the supermarket.  

Where do they choose to buy it?  At the grocery store, right? They are pointing out what they want even if they don't know to enunciate the names. Or also just putting it in the cart by themselves. 

Around 7 or 8 years old, they probably will have an iPad or a Smartphone "in case of any emergency."  Then in their teens, they want to wear the latest trends and brands, and it is your JOB to give it to them.  

Most kids don’t understand where the money is coming from, but they assume that all they need to do is...

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Setting Your Kids For Financial Success! Part 1

We all love our children and we want to give them the best.  However, sometimes we forget about their future.   Sometimes we think that they are too young or it is too early to set them up for success.  

Today, I am going to show you the smart way to help your kids not to worry about money ever.  

The Reality of College  

A lot of times we think about saving up to college and we hope that once they graduate, they'll find a good job and that they can take care of themselves and maybe even you from them on. 

But what about if even before they go to college they are already financially set? What about if we can think beyond college for them?  They don't have to worry about getting into Student Loan Debt, or where are they going to find the money to buy their first home, or to get married, start a business, or even to care for their own children. 

There is a way, and it might not be what you are thinking about. 

What about if you can help...

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Pay Yourself First!

When fly attendants goes through emergency procedures, one of the steps is to put your mask on first and then to put in on children.  This is a great example how important is to think about yourself first and then your kids after.

This applies too when it comes to finances.  A lot of times we feel that we are too young to start saving and investing.  Then we decide to get married, and then, we have kids, and for decades are focus are in our kids. Once our kids are graduated from college, then we start thinking about our future.  

However, the only way to become financially fit is by creating new habits.  One of the best habits that you can start applying immediately is by paying yourself first! 

What is the madness behind this method? 

Well, first off, you need to know your income and your expenses. Once you have calculated your income vs. your expenses, you are ready to start the process of paying yourself first. 

When you ...

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Why being a Fiduciary is so important?

Have you ever heard the word fiduciary?  Have you ever heard anyone saying that before you speak with a financial advisor or anyone about finances, make sure that he/she is a fiduciary?

If you had, then keep reading.  If you haven’t keep reading too because I am going to explain what that means. 

Here is the definition that Investopedia have for a Fiduciary:

"A person or organization that acts on behalf of another person or persons to manage assets. Essentially, a fiduciary owes to that other entity the duties of good faith and trust. 

A fiduciary requires being bound ethically to act in the other’s best interest."

Anyone that is acting as your financial advisor or that is helping you with your finances requires a high level of ethics and above all, having your best interest in mind. 

Why is this important? 

First, because we are talking about money. 

Second, because trust should go both ways.  If a client is trusting anyone with...

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How To Meet Women's Financial Needs?

financial needs money women Apr 01, 2019

We all know that numbers and numbers. However, when it comes to the topic of money and finances, there are differences between how women and men approach it.

The way we want to be communicated about money and the way we want to learn about money is different from men.

Why does it matter that we have a different type of communication regarding financing?

Women make 80% of the household buying decisions, even the most critical and most significant decision which is the home. They decide where to live, and for the most part, they choose based on the way the kitchen and bathroom looks.  If they are not happy with the home, the configuration, and even the location, they will not want to purchase. 

Women control 51% of the personal wealth in America. If you don't think so, ask yourself, who buys most of the clothing, groceries, makeup, hair salon, nail, baby and kids items?  We are the trendsetters, we determine what will work and what don't. 

Women outlive men on...

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Is It Worth It To Get An MBA?

On average an MBA will cost $150k. 

Is it worth it to get an MBA these days?

In my experience and what I have observed from a lot of my friends, it is not.

A lot of people think about getting an MBA because it might enhance their career choices.

However,  in the past year, I have met many individuals with MBAs looking for jobs for over a year due to two reasons. 

One, their MBA make them overqualified and therefore the company doesn’t want to hire them.  Or two, their MBA is not coming from a school that the employer could consider a top school.

The only reason you want to get an MBA is if you are planning to take a leadership role like a business owner or management. 

In these days and age, startup companies rather look for individuals that can think outside the box and innovate, not people with MBAs because the owner of the startup already has an MBA.

Aside from the massive costs, to get into a reputable MBA school, you need to have a high GMAT...

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