Twin Tier Financial

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Entries Tagged as 'Budgeting & Money Management'

Dear Dave: Estate Planning

November 2nd, 2009 · No Comments · Asset Preservation, Budgeting & Money Management

Many financial planners (and their clients) have been totally convinced that estate planning is a valid and important component of financial planning. I disagree. Estate planning was a response to the first Federal estate tax introduced in 1797 (the stamp act of 1797) and then later as a response to the Federal income tax which [...]

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Dear Dave: Taxes

November 2nd, 2009 · No Comments · Asset Preservation, Budgeting & Money Management, Wealth Creation

Taxes suck, but we all have to chip it to “do our part”, right? We should all not feel so bad about paying “our fair share”, right? Ba-humbug, I say. The “paying your fair share” mentality is the childish mentality of dependence, not the adult mentality of personal (self)-responsibility. When the first income tax was [...]

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Should you save money or pay off debt first?

October 26th, 2009 · No Comments · Budgeting & Money Management, Insurance & Savings

This question comes up frequently-mostly from people who have little savings and a lot of debt. The idea that you are supposed to pay off debt first and save money afterwords is starting to be challenged these days. But, the question is almost always posed as an “either-or”. This is a choice of false alternatives, [...]

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Being Cheap Is Not A Plan For Success…It’s Not A Plan At All!

October 21st, 2009 · No Comments · Budgeting & Money Management

If you can think of “thriftiness” as rational and economical and “cheapness” as fearful and “of low value”, then the differences will become obvious. Many people have this idea that budgeting is primarily about cutting costs and living on less. While that can certainly be true, it’s not the primary purpose of budgeting. Budgeting is [...]

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What’s With All Those “Buy Gold” Commercials?

October 12th, 2009 · No Comments · Asset Preservation, Budgeting & Money Management, Insurance & Savings

One of the most important aspects of financial planning is the concept of “savings”. Savings is really just delayed consumption. For example, if you bring home $3,000 per month in income, and you spend $2,500, then you have $500 in savings. You haven’t spent that money yet. What you do with that savings deals with [...]

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