How Much Should You Spend On…?
One of the most frequent questions I get asked is, “How much should I be spending on… dining out, groceries, clothes, entertainment, etc.”
We, as humans, like easy answers and the Internet is filled with pie charts stating how much you should be spending on various categories from housing to entertainment.
However, if everyone abided by those pie charts, very few people would be living in places such as the San Francisco Bay Area (where I recently moved from) or Manhattan because it takes too much “pie” to live there.
Do You Need a Holding Account?
Intermittent expenses can catch you by surprise and create a vicious roller coaster of accumulating debt, paying it off and then building it back up again.
The Family CFO is Not the Bad Guy
Sadly, it’s unfortunately common for the person managing the family’s money to become The Bad Guy, The Money Police, The Buzz Killer - and that’s not fair! It’s not fair especially given that their ultimate goal is to take care of the family and they’re getting chastised for it.
