We had a client who owed $200,000 in undergraduate school loans. Not for Harvard, Yale or Columbia, but a Texas university with in-state tuition. That is $50,000 a year (9 months actually) for a 19 year old. Yikes. His monthly payments, if he paid them, were $2,300. When we asked how the loans grew so large, he said, “I really enjoyed my college life.” When we asked a friend, whose son was a senior at
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It is the middle of August parents, have you packed your kids bags yet? Millions of students will be heading back to colleges and universities in the next few weeks. Are you confident they can face the financial challenges of school loans, rent, parking, shopping, meal plans, car insurance, laundry, books, school supplies and phone bills on their own? Are they ready for the real life? The great majority of our clients complain about never
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What does it mean to “pay yourself first?” OK, so you have to pay taxes first, but after that you should pay yourself. This means that before you access cash to spend on Amazon or on the date with your new upstairs neighbor, take steps to put money aside into savings and to pay for things you really need. Here is what Captial Budget Strategies, LLC, Austin’s best financial coach, recommends: STEP 1: Reduce your
{…}I did not really know what to expect from this, but after our session I was really impressed with what I had learned. After loosing my job I had built up quite a large amount of credit card debt. Chuck helped me develop a plan not only how to get out of debt but how to save money for future problems and future expenses. I definitely recommend this to anyone who has trouble with their
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Is it possible to live without credit cards in Austin? Yes, just ask your grandparents, because they and everyone before them did. It actually wasn’t until the 1970s when credit cards became widely used. I agree that everyone should have at least one card, kept in a dresser drawer. It should only be used for real emergencies or when a credit card is required, such as renting a car. All other times, the card should
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So your family has a decent income, but you still live paycheck-to-paycheck. For some reason, your money just disappears before the end of the month. Who knows where it all goes? Unfortunately, when you are spending more than you are bringing in, you have only two choices: (1) Earn more or (2) Spend less. However, there is a third choice: Get financially organized. Wouldn’t it be great to spend approximately 4 hours working side-by-side with
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You make a pretty good income, live in a nice place, drive a decent car and sometimes even shop at Whole Foods. Plus, your spouse or partner brings in an income. But, for some reason, you cannot stop living paycheck-to-paycheck. And those credit card bills and school loans are not getting any smaller! Do not contact a Financial Advisor, Investment Advisor or Money Manager. They are for people with lots of money who need assistance
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There are many smart, hardworking people in Austin, Texas who have great jobs, live in nice places, drive nice cars (or scooters) and eat in the hippest restaurants on the Eastside. Yet, they lack financial literacy and live paycheck to paycheck. Why is that? You don’t need an Austin Financial Coach to tell you no one teaches finanical literacy. Parents will teach you how to drive or play baseball, but not how to balance a
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Welcome to Austin and congrats on your first job! Sorry about the heat. Now, let’s talk about financial literacy. Austin’s best financial coach at Capital Budget Strategies, LLC, has met with lots of new grads and first-time employees in Austin. We know what is happening out there! Want to get an idea of how to handle finances? Try this simple test: Ask the elders in your life (parents, grandparents, professors, bosses, etc.) if they could
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Who needs a financial literacy class in Austin? You have a great job with decent pay, your apartment is near Barton Springs, you get to run the trail with your border collie and you just set up a date with that new assistant account manager. Life is great in Austin, Texas! Well, there is that small problem about running out of money by the end of each month. Maybe it is because you owe tons
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