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by Patrice C. Washington

You’ve probably heard for as long as you can remember that you should be saving for a rainy day. You likely call it an “emergency fund” or “a little something to fall back on” or a stash you’re planning to use in case you “fall on hard times.”

One question: How’s all that doom and gloom rhetoric going for you?

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Is Tax Strategy Included in Your Financial Goals?

tax  word cloud

Without fail, each new year brings heartfelt resolutions for improvement. Did you promise to live healthier this year? Did you vow to spend more quality time with your loved ones? If you were like most people I know, you probably made getting your finances together your mission for 2014. This is a great mission to have. Life is so much easier with an organized, functioning, profitable financial life, right?

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Do You Need to Break Some Bad Habits?

by Patrice C. Washington
smiling woman breaking cigarette and no smoking concept

For many of us, New Year’s resolutions symbolize achieving a new goal, but what about letting go of bad habits?

As a personal finance coach, most goals I hear surround money. Often people want me to tell them how they can fire their boss, make more money and live happily ever after. Many are stunned and for some reason frustrated, however, when I reveal that it’s not about their boss or how much money they are making. It’s about them, the money they are wasting and the bad habits that are holding their lives and personal finances hostage.

Check the list to see if you find any bad habits that may have kept you broke last year.

1. You are hopelessly insecure. Every time you make a decision, and in this case purchase, based on what you believe someone else will ‘think’ about you as opposed to what’s best for you and your situation, you make a decision to take one step closer into Brokedom. There will never be a way for you to achieve your financial goals if you continue to care what others think about you. Once you learn to stop giving a damn about what other people think about what you drive, where you live or what kind of purse you’re rocking, you may actually have a chance to build some wealth!

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Should Paychecks go to Savings?

by Patrice C. Washington

If you’re like most, you might find it difficult to transfer money to your savings account each month. After the bills have been paid and you run through a few discretionary dollars, you’re just waiting on that next check to roll around. Yes, I totally understand.

But, with all the money wasted on overdraft and bank fees annually in this country (approximately $38 billion per year), there has got to be some place you can find that additional money!

Well, a while back, a reader and friend of the blog, Lauren, asked me whether or not she should put money in her savings account first and then transfer what she needs bi-weekly to pay bills.

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