know the difference

Where Are You At? The Mid-Year Financial Gut Check.

If our calendar year could be compared to a basketball game, we're at about half time. Halftime is a chance to pause and reflect. What's the score? How is the other team playing? How are you playing? You probably went on the court with an objective. Maybe the objective is to win. Or maybe the object is to not lose by 30 points. Whatever the objective is, now is the time to take stock of the score, your performance and how you can make adjustments to finish strong.

Should You Buy or Lease a Car?

The decision to buy or lease your car means finding the balance between what fits into your lifestyle, what you value and what makes economic sense.

Putting too much weight on one of those variables can put you in a less than ideal position. For example, not considering the economics and only considering your lifestyle and what you want could look like you buying a car that you can't really afford. 

The Minimalist Guide to Finances: Automate Everything

I was sitting down with a client and friend yesterday and she was talking me about how she finally decided to automate most of her life. Amazon will automatically ship household goods each month, the staples she needs each week for groceries will be sent automatically, and her paycheck gets split amongst different accounts as soon as she gets paid. The first part of her rationale was since the technology exists so we may as well leverage it. The second part of it was her realizing she didn't need to involve herself in all the tedium of her life.

Do I Have to Pay Taxes on Side Gig Income?

One of the first concepts I learned while studying economics is a phrase made popular by the economist Milton Friedman: "There is no free lunch". An Econ professor once wrote it on the white board in all caps and it's stuck with me ever since.

Check Yourself Before You Wreck Yourself: Understanding Your Credit Score

Knowing your credit score is straight forward. You can sign up for an app like Credit Karma and they'll give you credit score. If you apply for a mortgage, the broker will run your credit and they'll tell you your credit score.

Getting your score isn't the problem, the allusiveness lies in understanding how your credit score is actually calculated. The exact formula used to calculate your credit score is like Coca Cola's secret recipe; it's not public information. We do know that calculation consists of five different elements and the weight or level of impact each elements has.

Everything You Need to Know about IRAs: The Definitive Guide

You've probably heard your accountant or that one friend who totally has their shit together talk about how you should be saving for retirement in an IRA. And like a good adult, you probably make all the right noises at the right times to suggest you understand what the hell they're talking about. In case you've been living a lie because you don't really know what the hell an IRA is, I'm here to free you from the shackles of your own confusion. 

So let's go balls deep into the non-sensical world of IRAs.