Here’s a question that can negatively affect your relationship with a friend, relative, or significant other for years to come: Can I borrow some money? When someone you care about needs financial help, you don’t want to leave them in the lurch. After all, these are the people you’d turn to in a crisis -- shouldn’t you be there for them, too? And in many cultures, it’s the norm for adult … [Read more...] about How to Lend Money to Loved Ones Without Wrecking Your Relationships
Life and Money
When you’re dating someone, there are some conversation topics that are tough to bring up -- and I’m not talking about how your last relationship ended! I’m talking about money. We’re taught from a young age that it’s rude to discuss money, and when you’re on your best behavior around a new romantic prospect, it’s easier to just keep quiet about it. But the relationship you (and your dates) … [Read more...] about How to Talk About Money With Your Significant Other
If you’ve built up savings and investments while single, it can be tough to shift your mindset from “me” to “we” when you meet someone you want to be with for the long haul. I answer a lot of client questions about merging finances and setting joint money goals -- while still leaving each half of a couple the space to be their own person. Odds are you won’t settle down with someone who has the … [Read more...] about How to Combine Your Finances as a Couple: Real-Life Advice I Give My Clients
Let’s be honest: budgeting sucks. There’s a reason everyone (including me) dreads sitting down and figuring out a budget. It brings to light all the things you spent money on that you probably shouldn’t have, and in the end you’ve got a list of super-responsible stuff to spend money on instead. It’s the financial equivalent of eating your vegetables. Yuck. But our philosophy at Gen Y Planning it … [Read more...] about A Values-Based Way to Build Your Budget
It’s a new year, and you are pumped to make some changes to your finances. Only you don’t know where to start and you’re afraid to make a mistake. You’ll totally get around to it, though … once you’re done with a bunch of other chores you just remembered you had to do right now. I know. It’s easier to wrap your head around a to-do list item like “mop bathroom floor” than the one that says “start … [Read more...] about 17 Quick & Dirty Money Moves You Can Make in 2017
There’s a lot of advice out there for people who are looking to set up a trust for their younger family members. Setting up trusts can be a great way to pass your money down to the next generation. But what do you do if you find out you’re receiving money from a trust? Coming into a large amount of money is life-changing. You might have known about your trust your whole life, or it might be … [Read more...] about I Have a Trust Fund — Now What?