SUM180 | Cara Reynolds - SUM180 Community Manager | Friends Activity

Suzanne Oldham - Ambassador replied to the topic That's It...I'm Doing It...I'm Paying Off My Furniture in the forum Manage your debt

Mon, 26 Jun 2017 11:44:19 -0800

I have had the opposite problem. That is, I have NOT built savings and instead opted to use extra cash to pay down debt. While I have succeeded in reducing my debt, I do not have enough savings for unexpected expenses. So I plan to be build a better balance between saving and paying down debt so I can handle unexpected expenses.

Suzanne Oldham - Ambassador started the topic More Savings Games in the forum My journey

Fri, 23 Jun 2017 12:19:36 -0800

After this post, I heard from others on how they use gaming to save. Here are some more ways to make savings fun:
$5 at a time: Remove all $5 bills from your wallet and set aside. After 6 months use the cash to pay down a credit card balance or splurge a little.
Vision Boards: Create a colorful board to chart your savings goals or your dream…[Read more]

Suzanne Oldham - Ambassador started the topic No Spend Mondays in the forum My journey

Wed, 21 Jun 2017 22:12:22 -0800

I love a challenge and I love games. So as I thought of creative ways to save on daily expenses, I decided to challenge myself to the game of No Spend Mondays. Here’s how it works: I take one day a week, usually Mondays, and do not spend any money. I make coffee at home instead of buying my morning coffee on the way to work. I prep my breakfast a…[Read more]

Suzanne Oldham - Ambassador replied to the topic Financial Wisdom From My Dad in the forum My journey

Wed, 21 Jun 2017 21:46:14 -0800

Cash is King was my Finance Professor’s daily reminder to us during every lecture in Business School. It still rings in my ears and crosses my lips frequently.

Suzanne Oldham - Ambassador commented on the post, 5 Simple Tricks for Financial Self-Care

Tue, 13 Jun 2017 19:41:07 -0800

Great advice. I am particularly interested in the Insurance check up. I recently spent several hours on the phone with our auto insurer to understand how to reduce our car insurance. It turned out that we were way […]

Suzanne Oldham - Ambassador started the topic Help! How do you go about finding the right Financial Advisor? in the forum Plan your retirement

Mon, 12 Jun 2017 15:07:42 -0800

A recent post on Sum180 encouraged the use of a Financial Advisor. I plan to take this advice and replace my current advisor who has not reached out to me in over five years. Quite honestly, I need more attention than that. So how do you go about finding a Financial Advisor? Are there questions to ask an advisor to gauge their effectiveness? What…[Read more]

Suzanne Oldham - Ambassador started the topic Jumbo Mortgages? When are they the right type of Mortgage? in the forum Buy a house

Tue, 06 Jun 2017 00:02:49 -0800

Recently we were approached by our bank to refinance our mortgage. We currently have two loans: a first mortgage and an equity line that makes up the additional outstanding debt. Both loans are at reasonable rates. When we bought our home several years ago we were unable to secure one “large” mortgage. However, I understand that “jumbo” mortgag…[Read more]

Suzanne Oldham - Ambassador replied to the topic Saving For A New Baby! HELP! in the forum Grow your savings

Thu, 01 Jun 2017 14:48:23 -0800

Kudos to you and your husband for starting to save now. Here are a few expenses that took us by surprise:

MEDICAL EXPENSES: Your baby will have multiple visits to the Pediatrician during his/her first year. Depending on your insurance the co-pay can take a toll.

DIAPERS: If you choose to go the disposable diaper route they are expensive. I…[Read more]

Suzanne Oldham - Ambassador replied to the topic Travel Planning - Research Pays Off in the forum My journey

Mon, 29 May 2017 23:51:45 -0800

Thanks, Stacy. I just booked my first Air B N B because all the hotels were booked or too expensive. We will save money and be in a better location. Thanks for the suggestion.

Suzanne Oldham - Ambassador replied to the topic Do you have a financial adviser? in the forum Save for retirement

Mon, 29 May 2017 23:49:21 -0800

I have a financial advisor who is an employee of an investment firm. I was told to steer away from an advisor who isn’t 100% independent. Does anyone have a position on this point of view?

Suzanne Oldham - Ambassador replied to the topic Knowing Your Social Security Benefits in the forum Plan your retirement

Mon, 29 May 2017 23:47:17 -0800

Does the Social Security Administration still give an option to begin taking social security “early?” If so, is there a rule of thumb about whether you should take it early?

Suzanne Oldham - Ambassador started the topic Pension: Wait or Cash out Early? in the forum Plan your retirement

Mon, 29 May 2017 23:44:18 -0800

When I tell people I have a pension from a private sector job early in my career, I am greeted by oohs and ahhs. Yes, I am one of the lucky few who will receive a pension when I reach retirement age in about 12 years. Recently, I was given an opportunity to cash out my pension. Here is my offer:
Receive $60,000 now (subject to taxes) or wait until…[Read more]

Suzanne Oldham - Ambassador commented on the post, The best way to pay off student debt

Mon, 22 May 2017 17:54:54 -0800

Are you recommending that everyone refinance their student debt? My son has one loan through Nelnet. The balance is about $26,000. The interest rate is 4%. It seems like a good rate. Any thoughts about this specific loan?

Suzanne Oldham - Ambassador replied to the topic Deciding On What To Invest In in the forum Build your investments

Mon, 22 May 2017 17:42:28 -0800

Thanks for your post. I have been debating on redoing and upgrading my business website but keep questioning the investment. And an added bonus is we can write off the expense.

Suzanne Oldham - Ambassador replied to the topic Where to find money - really FOUND MONEY in the forum Grow your savings

Fri, 19 May 2017 19:18:10 -0800

Thanks for the information. I just went to MissingMoney and saw that I have about $40 in an old Pay Pal account.

Suzanne Oldham - Ambassador started the topic Financial Advice for Recent College Grads in the forum My journey

Fri, 19 May 2017 18:56:00 -0800

As my oldest child prepares to take his first full time job, I am compiling financial advice to help him start out on the right financial footing. Here are nine tips I wish I knew as I began my post college life:

1) CREATE A BUDGET: It is an invaluable tool to know what you have to spend and where your money goes. A budget also decreases your…[Read more]

Suzanne Oldham - Ambassador started the topic Financial Advice for Recent College Grads in the forum My journey

Fri, 19 May 2017 18:56:00 -0800

1) CREATE A BUDGET: It is an invaluable tool to know what you have to spend and where your money goes. A budget also decreases your…[Read more]

Suzanne Oldham - Ambassador replied to the topic 26 Years Old With $60k In Retirement in the forum Save for retirement

Mon, 15 May 2017 23:02:25 -0800

WOW. I plan to share this story with my 22 year old who just asked how much he should save to his 401k. And you are right… you do not miss what you do not have.

Suzanne Oldham - Ambassador replied to the topic It is graduation time in our family! in the forum Grow your savings

Mon, 15 May 2017 22:48:18 -0800

Congratulations — not just on your graduate but on your planning. We just graduated our first from college and we were able to pay 3/4 of his tuition with 529s. Take Stacey’s advice and save from day one.

Suzanne Oldham - Ambassador replied to the topic I Started the Snowball Method in the forum My journey

Mon, 15 May 2017 22:44:58 -0800

I am intrigued as I am in the middle of paying down debt. So I looked the Snowball method up online. Here are simple instructions on how it works:
Step 1: List your debts from smallest to largest.
Step 2: Make minimum payments on all your debts except the smallest.
Step 3: Pay as much as possible on your smallest debt.
Step 4: Repeat until each…[Read more]

Suzanne Oldham - Ambassador replied to the topic Making The Most Of A Pay Raise in the forum Grow your savings

Mon, 08 May 2017 16:49:41 -0800

First, congratulations. A raise is always great news. I applaude your restraint. After a raise, we rush into spending a raise on a wish list item immediately then we wonder why we feel no impact from the raise. You, on the other hand, will really appreciate the raise later in the year when you do the fun stuff you have planned.

Suzanne Oldham - Ambassador replied to the topic Saving for a New Car in the forum Manage your debt

Mon, 08 May 2017 16:46:01 -0800

We learned a hard lesson recently. We bought a used car for under $4000 for our children. We thought we got a great deal. Instead, we bought a headache. We spent twice that in the first 18 months fixing major issues that were not uncovered in the inspection. My warning is it pays to spend a little more and absolutely check that warranty!

Suzanne Oldham - Ambassador started the topic My Spending Hiatus - What I Learned in the forum My journey

Mon, 08 May 2017 16:40:32 -0800

I just completed a 30-day spending hiatus. I refrained from buying anything that was non-essential. Here is what I learned:

I DO buy impulsively: I am not a shopper. In other words, I do not go out and shop for fun and run up shopping excursion tabs. I am, however, a buyer. So when I do errands or pass by a shop, I will “add on” purchases tha…[Read more]

Suzanne Oldham - Ambassador replied to the topic Making saving sexy in the forum Grow your savings

Wed, 26 Apr 2017 22:10:15 -0800

Boost your creativity! When I don’t run out and buy a new dress, shirt or necklace, I am forced to use my right brain and dig deeper in my closet. Inevitably, I find a long forgotten top that is back in style or a bracelet I have not put on in years but LOVE. Not only do I look as good as I would have with that new outfit, I am “richer” for it!

Suzanne Oldham - Ambassador started the topic Tax Refund - How to allocate the "found money" in the forum My journey

Tue, 25 Apr 2017 13:52:20 -0800

For the first time in a long time, I received a sizable tax refund. I returned to my Sum180 plan to determine the best way to allocate the refund dollars. I have three choices: I can pay down credit card debt, store dollars away for emergencies or save for next year’s college tuition payment. Or I can do a little bit of all three. Is there a r…[Read more]

Suzanne Oldham - Ambassador replied to the topic Our penny jar investing in the forum Build your investments

Sat, 22 Apr 2017 18:38:15 -0800

Do you use a web based stock investing company? If so, which one? I love this idea and want to give it a try?

Suzanne Oldham - Ambassador replied to the topic 7 Reasons You Should Take A “No Spend Month”? in the forum Grow your savings

Fri, 14 Apr 2017 21:34:12 -0800

I am in the middle of my one month “no spend month” and actually find it empowering and enlightening. As you point out, it forces you to be creative in so many ways. I put together new outfits from old favorites, reach for a book on the bookshelf that I never got around to reading, and use other “found objects” from around the house.

Suzanne Oldham - Ambassador started the topic My Money Personality in the forum My journey

Fri, 14 Apr 2017 21:27:27 -0800

Recently a friend asked if I knew my “money personality.” Money Personality, I thought, I have no idea. Apparently, we all have one and it can easily be tested through a series of questions. She pointed me to the website, Moneyharmony.com which guided me through a money personality test. I came out as an “avoider.” While I hoped it would tell me…[Read more]

Suzanne Oldham - Ambassador replied to the topic A bit of advice from my mother about spending in the forum My journey

Tue, 11 Apr 2017 22:35:01 -0800

One month/year my Mom took a spending hiatus. During the month she would not buy ANY extras – only essentials. I have adopted the same yearly hiatus. While it seems easy, it actually is not. You find that you buy “little things” all the time on a whim: a beautiful candle or bouquet of flowers. The problem is that these purchases can add up. I find…[Read more]

Suzanne Oldham - Ambassador started the topic WHEN 0% INTEREST CARDS GO BAD in the forum Manage your debt

Wed, 05 Apr 2017 16:23:23 -0800

In an effort to consolidate debt and pay down my card balances more quickly I received two 0% credit cards with 10 months of no interest. That was the good part. Over 10 months, I paid a higher monthly payment with 100% of the money paying down the debt balance. I loved seeing $0 in the “monthly interest” column. However, I fooled myself a few tim…[Read more]

Suzanne Oldham - Ambassador replied to the topic Money Well Spent in the forum Grow your savings

Wed, 29 Mar 2017 14:44:03 -0800

I have found that meal delivery services like Blue Apron and Hello Fresh are an economical option for meals. We pay $60 for three nights of meals. We are a household of three and the meals can usually stretch to feed all of us. We figure we pay about $6-7/person for each meal. And for an added bonus, you can try most of the services for a deep discount.

Suzanne Oldham - Ambassador started the topic Travel Planning - Research Pays Off in the forum My journey

Tue, 28 Mar 2017 18:38:59 -0800

With summer on the horizon many of us turn our attention to summer vacation. I am no exception but I am also very frugal when it comes to paying for airfare. For me, the thrill of the hunt is the name of the game. I spend lots of hours trolling the internet for airfare deals. Here are a few of my favorite strategies:
• Google Flights: Put in y…[Read more]

Suzanne Oldham - Ambassador replied to the topic One of My Money Mistakes: I Treated My Home Equity Like A Personal Piggy Bank in the forum Manage your debt

Tue, 28 Mar 2017 18:35:59 -0800

I often wonder the same question. We have borrowed to pay for college tuition as the home equity APR is lower than any loan we could have secured toward tuition. I am not sure it is a great idea but we hope that the house continues to appreciate and we won’t regret the choice.

Suzanne Oldham - Ambassador started the topic COLLEGE TUITION AND WHAT I LEARNED WHEN I STEPPED OFF MY SUM180 PLAN in the forum My journey

Thu, 23 Mar 2017 13:17:10 -0800

After a solid 10 months of following my SUM180 plan with good success, I had to side-step my plan to get through some hefty tuition expenses. I have two children in college and my 529 ran out in late 2015. The six-figure bill took my breath away. I did not have much of a choice but to use every bit of cash (and more) to pay the bills. Here’s is w…[Read more]

Cordi Powell - Financial Coach wrote a new post, 4 Signs You Should Find a New Financial Adviser

Thu, 16 Feb 2017 01:20:33 -0800

Your adviser doesn’t listen. If your financial adviser isn’t listening to you, that can be a problem. I always try to make sure that my clients talk during our meetings. And especially if it is a couple, I w […]

Suzanne Oldham - Ambassador commented on the post, Webcast: Your Home and Your Financial Well-Being

Thu, 25 Aug 2016 12:21:52 -0800

Very helpful video. We are considering buying property as an investment and put it on Air B N B rather than go the traditional month to month rental pool. Does your 15/85 allocation remain the same in an Air B N B […]

Kelly Adams - Financial Adviser wrote a new post, 5 more signs that you should find a new financial adviser

Thu, 28 Jan 2016 18:50:35 -0800

Conventional wisdom tells us to watch out for high commissions—a big red flag—and conflicts of interest when assessing our financial advisers. But as our work at SUM180 has shown us, there’s more to choosing the […]

Cordi Powell - Financial Coach commented on the post, You two are in love, but their finances are a mess. Protect yourself and thrive together

Tue, 19 Jan 2016 20:54:57 -0800

SO, I agree that communication is key, especially, in situations where management of the finances has been delegated to the spouse with the more appropriate skill set. Without proper communication, the less […]

Cordi Powell - Financial Coach wrote a new post, You two are in love, but their finances are a mess. Protect yourself and thrive together

Tue, 19 Jan 2016 17:26:12 -0800

If you’re in a relationship with someone you care about but whose track record with money is less than ideal, there are steps you can take to protect your own financial picture while helping them acquire better h […]

Cordi Powell - Financial Coach wrote a new post, Money Myths for Newlyweds: Don’t let these 4 financial misconceptions torpedo your marriage

Tue, 19 Jan 2016 16:52:59 -0800

A new marriage is a profoundly thrilling emotional commitment. It’s easy to be swept up in the excitement and romance of this honeymoon phase at the expense of tackling its serious financial implications. But the […]

Suzanne Oldham - Ambassador started the topic Tax Day Planning Solved in the forum Manage your debt

Sun, 06 Dec 2015 15:19:54 -0800

As a business owner, saving for taxes was a real challenge. When the end of the year rolled around I was caught off guard by my tax bill. My intention was to add to my retirement but never had the luxury of “left over” cash after the tax bill was paid. Finally after 10 years I have found the trick that prepares me for the end of the year and…[Read more]

Suzanne Oldham - Ambassador started the topic Tax Day Planning Solved in the forum Manage your debt

Sun, 06 Dec 2015 15:19:54 -0800

Suzanne Oldham - Ambassador started the topic Holiday Gifting + Savings in the forum Build your investments

Sat, 21 Nov 2015 14:59:58 -0800

For many years the day after Christmas left me feeling drained and disappointed — way too many gifts of fleeting value. Several years ago in an effort to combine gifting with a lifelong lesson, we gave our children the gift of stock. We chose stocks related to each of our children’s interests. For our son, we purchased sports and ent…[Read more]

Veronica Combs's profile was updated

Mon, 16 Nov 2015 23:20:40 -0800

Suzanne Oldham - Ambassador's profile was updated

Mon, 16 Nov 2015 23:16:48 -0800

Kelly Adams - Financial Adviser's profile was updated

Mon, 16 Nov 2015 23:09:07 -0800

Cordi Powell - Financial Coach's profile was updated

Mon, 16 Nov 2015 22:08:14 -0800

Elizabeth Buffardi - Financial Adviser's profile was updated

Mon, 16 Nov 2015 21:47:54 -0800

Angela Dorsey - Financial Adviser's profile was updated

Mon, 16 Nov 2015 21:41:40 -0800

Suzanne Oldham - Ambassador started the topic 0% interest college tuition payment plan in the forum Manage your debt

Mon, 16 Nov 2015 20:57:23 -0800

With one college age child and two headed that way, I am always on the lookout for ways to manage the enormous tuition burden. My goal was to find ways to ease the burden without a lot of time and with guaranteed success. I discovered Tuition Payment Plan – a plan that spreads the payment of yearly tuition over 10 months with NO FEE. The plan d…[Read more]