Jay Zigmont's Blog, page 4

How Do I Stick to My Budget?

So you've sat down with your significant other (or on your own, if your finances are solo) and created your budget, using a spreadsheet or an app. Now the trick becomes sticking to it, and making adjustments as needed as you learn where your money goes every month. A lot of people assume that since it's a monthly budget, you only need to check it once a month. In fact, it's a good idea to check it weekly, so you have time to make adjustments to your estimates and spending over the course of the ...

Childfree Midlife Crisis - Childfree Wealth Podcast Ep. 60

Picture this: Dr. Jay running a maple syrup farm and selling stuff on eBay because he had no clue what to do after achieving his goals. That’s exactly what happened when he hit the childfree midlife crisis - the time when you hit your personal, professional, & financial goals.

What Is a Budget?

For many people, the word "budget" has some negative connotations. It's very easy to think of your budget as the tool that tells you what you can't spend, but the truth is that a budget tells you what you can spend, too. A budget simply gives your money a job, and without one, money comes in and out of your household without a plan or structure in place. If you've ever lamented that you don't know where your money goes every month, you need a budget. There are a lot of options out there for bu...

Flashing Red Lights - Childfree Wealth Podcast Ep. 59

In this episode, Bri & Dr. Jay discuss flashing red lights - issues that require attention. The episode emphasizes the need for proactive financial planning and offers insights to help listeners navigate potential pitfalls.

How Do I Improve My Money Behaviors?

In order to learn how to manage your money effectively, you have to learn to manage your money behaviors. And everyone has at least one problem money behavior, so if your problem is with, say, ordering from Amazon on a whim, you're not alone. Your money behaviors are formed in childhood and based on the way you were raised. If you grew up in a family that lived paycheck to paycheck, and as soon as money came in, it got spent, then you may end up living that way yourself as an adult. The good new...

Things DIYers Forget - Childfree Wealth Podcast Ep. 58

Dr. Jay talks with Cody Garrett, CFP®, of Measure Twice Money. They’ll explore the common misconceptions about financial planning and abolish the idea that it's all about choosing investments. Cody shares his unique approach, emphasizing the importance of gaining clarity and confidence in understanding how your money aligns with your life, not someone else's. We discuss the pitfalls of DIY financial planning and when it might be the right time to call a professional.

Start 2024 Off Right - Childfree Wealth Podcast Ep. 57

Bri starts by emphasizing giving yourself grace and encourages you to appreciate the emotional aspects of your financial journey. From there, they continue with practical advice that includes calculating net worth, evaluating income and expenses, and creating realistic budgets. The episode ends with Dr. Jay advocating for continuous learning both in life & finances.

How do I set goals for my finances?

It isn't enough to just earn money and pay your regular bills. It's also important to have larger financial goals to work towards. This is especially crucial if you want to lead a meaningful life as a Childfree or permanently childless person. Here's a few considerations – and important questions – to ponder as you set goals for your finances.

Reflecting on 2 years of serving Childfree people

When I created Childfree Wealth two years ago, I never could have guessed what it would turn out to be. It started with a simple observation – nearly all financial planning assumed you do, or will, have kids. Having kids is built into the basic assumptions of financial planning. Having kids and focusing on passing on money to them is built into financial software, simulations and more. These assumptions can not only offend Childfree people, but they can provide bad advice.

Bri is a Childfree Wealth Specialist - Childfree Wealth Podcast Ep. 56

After nearly a year of training, Bri is now a Childfree Wealth Specialist & is set to start taking on her own clients. You’ll hear more about her experience & insights as the conversation dives into the emotional aspects of financial planning, highlighting the importance of addressing clients’ worries and anxieties.