COLORADO SPRINGS, COLO. -- With many of us pinching pennies these days, it can sometimes be tough to tell if you're handling your money properly -- or maybe even tougher to admit that you need help.
The FOX21 News resident money coach, Bill Stanley, says there are some tell-tale signs that should lead to seeking financial advice.
You might need a Money Coach if:
- You think 401(k) is the toll road to the Denver airport.
- Your money runs out before the month does.
- You let your spouse handle all the finances.
- Your teenager has a cell phone and you pay the bill.
- You pay for ring tones or bottled water or ATM access.
- You are still paying for the tank of gas you bought last year because you put it on a credit card.
- You think the stock market has a fence around it.
- You bought your last mutual fund from a guy in a $1200 suit.
- You believe Social Security will pay for your retirement.
- You think retirement planning means looking at travel brochures.
- Like most Americans, you spend approximately 90,000 hours working and 10 hours planning your retirement.
- You think IRA is one of the Marines who put up the flag on Iwo Jima.
- You don’t have an up-to-date will.
- Your monthly financial statements are stacked up unopened in a pile somewhere on your desk.
- Your savings plan consists of “putting aside” whatever is left at the end of the month.
- You don’t know your FICO credit score.
- You are a renter and don’t have renters’ insurance.
- You paid $3500 for software to pay down your mortgage.
- You think the number 529 means the area code where you child wants to attend college.
- Someone else prepares your taxes and doesn’t explain line for line what the numbers mean.
And finally, you might need a Money Coach if you think financial planning only means investments.
Bill Stanley and "Money Matters" appears every Tuesday morning on FOX21 Morning News. You can contact Bill directly if you have any money-related questions: moneycoachbill@aol.com
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