Tag: financial goals

Scott Boyles, a wealth manager at Brightscape Investment Centers in Dallas, Tex., admits that new marriages and money conversations between newlyweds aren’t exactly a big priority—but they should be.

"As a financial planner, I work with many couples on how to manage money," Boyles says. "Yet in my own life, my wife and I had to have difficult talks regarding money through the years because we started a business together."

Boyles and his spouse began discussing the budding business, with all of its financial implications on their lives, before they tied the knot.

There’s never a better time than now to lay the foundation for financial success. While setting a resolution of saving money or paying off debt is a great start, there is much more to financial success than just setting goals.  A great way for families to increase financial success is by first shifting their thoughts around money and then evaluating exactly where they are financially. As your family sets financial goals for the New Year, consider the following money paradigm shifts and including your children in the ‘movement’ as well, if applicable.

Americans have already forgotten the lessons of the Great Recession, judging by the Consumer Financial Literacy survey. When the recession began, 57 percent of Americans were spending less money than the year before. By 2014, this had dropped to 29 percent. Sixty-one percent don't have a budget, 16 percent retire without enough savings, and 16 percent have no emergency savings. Before you find yourself in a financial emergency, make sure you're not making any of these common mistakes that could kill your finances.