The end of a relationship marks a personal and financial transition in our lives that stirs up emotions and makes it difficult to move forward with clarity.
By Kathy Longo, CFP®, CAP®, CDFA®
Monday, 28 December 2020
One of the most effective ways to come out financially on top after a difficult life transition is to keep emotion out of your decision making. Of course, that’s easier said than done! While it may be an uphill battle, though, there are things you can do try to keep your emotions separate from your financial decisions.
One of the most challenging and stressful events we can go through in life is the end of a marriage, yet there are financial practicalities that must be addressed.
By Kathy Longo, CFP®, CAP®, CDFA®
Monday, 21 December 2020
Welcome to your weekly opportunity to take a few minutes to set a small goal that can help you achieve your larger aspirations. This week I will be talking about DIvorce & Your FInances.
To find success in managing your household finances, it’s crucial to lay a foundation built on the fundamentals.
By Kathy Longo, CFP®, CAP®, CDFA®
Monday, 14 December 2020
To find success in managing your household finances, it’s crucial to lay a foundation built on the fundamentals.
No matter what your marriage looks like, having the money conversation with your new spouse can be complex.
By Kathy Longo, CFP®, CAP®, CDFA®
Monday, 07 December 2020
Taking the time to get on the same page as your spouse with household finances is always a positive step – and one that I encourage all married couples to take, even if they’re far past the newlywed stage.
Society encourages us to look at things in black and white but, when our finances are uncertain, this mentality can hinder our ability to see a new path forward.
By Kathy Longo, CFP®, CAP®, CDFA®
Monday, 30 November 2020
If you are dealing with financial uncertainty, as many of us are during this pandemic, this challenge is for you.
Taking stock of who you really are and what you really want can have a lasting impact on how you manage a challenging life transition.
By Kathy Longo, CFP®, CAP®, CDFA®
Monday, 23 November 2020
In the midst of transition, self-reflection helps you identify your main sources of challenge and worry. So, this week’s challenge is to jump-start your self-reflection process and gain greater clarity in your goals.
Unexpected financial setbacks happen to all of us and often cause us to reevaluate our plans, but resilience can help us move forward in these difficult situations.
By Kathy Longo, CFP®, CAP®, CDFA®
Monday, 16 November 2020
One of the frustrating parts of financial planning is that your plan is never permanent. Unexpected financial setbacks happen to all of us, and each time they do we must reevaluate our plans. After the initial shock of a financial setback, resilient people choose how to respond, and they focus on the positive. Using this mindset allows you to see your situation in a different way and to thoughtfully reevaluate a financial plan that no longer accomplishes your desired goals.
Transition is temporary, but one of the best things we can do for ourselves while in the midst of it is to take charge and own the moment.
By Kathy Longo, CFP®, CAP®, CDFA®
Monday, 09 November 2020
Right now in the world, so many people are going through transitions, many of which were unexpected. This is difficult. It’s painful. And it’s easy to feel like a victim of circumstance. But when we choose to own the moment – that is, to take charge of how we act and react in the face of a difficult transition – we can use our energy to accept what is, while also planning for what will come next.
The belief that our goals are simply too big to achieve holds us back from making progress, but big goals don’t require big steps.
By Kathy Longo, CFP®, CAP®, CDFA®
Monday, 02 November 2020
Mindset is often the biggest obstacle we need to overcome in order to create a financial plan that will help us meet our goals. In particular, the belief that our goals are simply too big to achieve holds us back from making progress. But, I want to let you in on a little secret: big goals don’t require big steps. They can be reached with a series of small, steady steps over time, and this week’s episode will help you get started.
If you’re feeling stuck and less-than-excited about your current financial outlook, break your cash flow down into these three bite-sized components.
By Kathy Longo, CFP®, CAP®, CDFA®
Monday, 26 October 2020
It can be difficult to get excited about your finances, particularly if you feel burdened by debt, lack the income you desire or feel your financial goals are unattainable. If you’re feeling stuck and less-than-excited about your current financial outlook, you can break your cash flow down into smaller components that let you take more control of your finances - and help you get excited about achieving your goals.
Many people practice avoidance when it comes to finances, and numerophobia – the fear of numbers – is often at the root of the problem.
By Kathy Longo, CFP®, CAP®, CDFA®
Saturday, 17 October 2020
Do you find money topics to be confusing? Do you lack confidence in your ability to understand financial concepts? If so, you may be suffering from numerophobia - and you’re not alone. This inevitably leads to a reactive approach to money management, but taking a proactive interest in your money is the best way to meet your goals and create a meaningful life for yourself and your family. So, if fear of numbers is getting in the way of your financial success, my challenge to you this week is to stop making it about the numbers.
Your credit score paints a picture of your current financial status and acts as an indicator of your financial health, making it crucial to know your number.
By Kathy Longo, CFP®, CAP®, CDFA®
Monday, 12 October 2020
Do you know YOUR number? Your credit score paints a picture of your current financial status and acts as an indicator of your financial health for potential lenders. It takes into account your amount owed, credit, length of credit history, credit mix, and payment history.
The more you know about finance, the better you can manage your money.
By Kathy Longo, CFP®, CAP®, CDFA®
Monday, 05 October 2020
For this week’s challenge, I’m going to encourage you to wade through something that many people avoid, but which is necessary if you really want to take charge of your money – financial jargon. Learning to “speak finance” is a lot like learning a foreign language. Yes, many financial terms are confusing, but with a little time and patience, the terminology becomes approachable.
When your earnings increase, your savings should too, but many people opt for increased discretionary spending instead.
By Kathy Longo, CFP®, CAP®, CDFA®
Monday, 28 September 2020
For this week’s challenge, I want you to think back to the last time you received a pay increase. Did you immediately rework your monthly budget to allocate more of your income to savings? Or, like many people tend to do, did you use your increased income to do something like lease a nicer car or purchase a larger home? If your answer is the latter – increased spending – you may be a victim of Lifestyle Creep.
In times of economic hardship and uncertainty, having a financial safety net can help you weather the storm.
By Kathy Longo, CFP®, CAP®, CDFA®
Monday, 21 September 2020
For this week’s challenge, I am talking about building a financial safety net. The world can become an uncertain place in a short time. This economic volatility can lead to fear and anxiety. Having a financial safety net for an unexpected loss of income can provide you with peace of mind and freedom should the worst-case scenario arise.
