Category: Financial Behavior
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Why Market Price Matters When Setting A Consulting Rate
A number of years ago, my company was interviewing consultants to help with a particular project. I helped with the interviews. The first consultant was a man in his fifties, with a very strong track record in the area we were interested in. His rate was $92/hour. The second consultant was a woman in her…
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When To Hire Help
If you are busy saving, paying off debt, and investing, you are likely doing many things yourself. In our family, the DIY (do it yourself) personality is strong. Why would you pay someone to do the things you can do on your own? There are a few situations where you would do well to hire…
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How Much Cash we Keep for Emergencies
As we go into the 2nd month of Glen missing his paychecks*, I started thinking about how much money we have traditionally had on hand to pay for emergencies. What we consider an emergency probably differs from others’ definitions. We tend to consider expenses under $1,000 as non-emergency events. On average, we save $2,000/month. We…
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Can You Miss A Paycheck?
My husband is a Federal employee, and the part of the government he works for is currently shutdown. Payroll was processed last week, but if the shutdown continues much longer, he will miss his next paycheck. I am a contractor, and am still able to bill to my contract, but could receive notice that I…
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Financial Management Is A Practice Not A Goal
I have a few vivid memories from preschool. I remember my mother visiting the class; always choosing finger painting as an activity; rest time; and learning to tie shoelaces. To be more exact, I remember not learning to tie shoelaces. Our teachers took time one day to show us how to cross and turn…
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What “Silent Night” Teaches Us About Responding To Crisis
Two hundred years ago, the carol “Silent Night” premiered as part of a Christmas Eve service in Oberndorf bei Salzburg, a small town in Austria. The lyrics were from a poem written by Joseph Mohr, and the tune was composed by Franz Xaver Gruber. We might never have this famous carol, were it not that…