As I’m writing this post, it’s Thanksgiving Day in the U.S. and tomorrow is “Black Friday”, the biggest single retail sales day in North America. Between now and the end of the year, it will be virtually impossible to avoid advertising designed to persuade us to buy “stuff” for both holiday gift giving and for … Read More
I don’t know a single person who delights in preparing their tax return. As a widow, filing your spouse/partner’s final tax return adds another layer of gloominess to the chore. And yet dealing with the tax returns of a deceased spouse is an unavoidable task every widow faces. Filing your spouse’s final taxes is definitely … Read More
When your spouse/partner dies, what happens to any debt they had or that you shared jointly? Are you responsible for any money owed? What will happen to your credit rating? With household debt in the U.S. and Canada being at or near all-time highs, chances are the death of your spouse will bring questions about … Read More
I want to introduce to you the concept of thinking of managing your money as part of your overall self-care. Wikipedia says, “self-care is any necessary human regulatory function which is under individual control, deliberate and self-initiated”. Simply put, as this fact sheet says, “self-care is care provided for you, by you”. Read anything on … Read More
There are two emotions spoken about in the investment industry; fear and greed. Any investment professional will tell you real success lies in the ability not to let either emotion take control of your decision making. If they’re truthful, they’ll also tell you how trying to control these emotions is a constant battle. As a … Read More
Recently, I wrote about how widows can often be targeted as an open wallet for other people — unscrupulous con-artists, well-meaning advisors and sales people, and even family members. Today, let’s look closer at that last category and in particular adult children who continually come to mom for financial support. I understand the emotional aspects … Read More
In previous posts, I’ve mentioned that putting money aside for an emergency fund should be a priority in your financial goals (read Step 5 in 7 Steps for Dealing With Financial Stress). The term “emergency fund” brings to mind money saved for severe, unexpected expenses such as losing your job, or experiencing an unfortunate injury … Read More
In my last post, I talked about how budgeting is viewed with disdain by virtually everyone. I also mentioned that before attempting to work out a budget, it’s important (if not essential) to begin by tracking your expenses for at least one month so you see how you’re really spending your money. Today, let’s take … Read More
The “B” word. Budgeting. Uggggh! (slight shudder). Budgeting is probably one of the most hated words in personal finance topics. I can honestly say I have NEVER met anyone who likes budgeting. I’m not even sure I’ve met anyone who is lukewarm on the subject. If budgeting is seemingly universally disliked, it begs the question … Read More
Your success with managing money (success as in being proficient, not necessarily in being wealthy) has a lot to do with how you think about money. This correlation has been studied for decades and proven time and time again. If you want to get better at managing your money, if you want to remove financial … Read More
In my last post I talked about how, during the process of settling your spouse/partner’s estate, you’ll have to go through all of the financial and business accounts. While doing so, it’s a good time to take stock, tally everything up, and do a check of your own net worth. It’s also a good time … Read More
