The Financially Free Blog
Message from the CEO: Mental Health
In case you didn’t know, May is Mental Health Awareness Month. I think it’s interesting that it falls the month after Financial Literacy Month because there is such a strong connection between the two; and I never truly saw just how much until I experienced it firsthand last year.
4 Ways I Am Now More Financially Confident
Kathryn J. has been a Financial Gym client for 1 year. She lives in Pittsburgh and loves gaming with friends, writing, and ceramics.
How to Help Your Elderly Parents
Let’s face it, you’re not getting any younger. And neither are your parents. At this point, they’re getting up there and you’re starting to worry about their finances and security. What will happen to them? What do you need to do to make sure they have a plan in place for their finances? It can be tough to think about but taking action now and having a conversation now can help everyone. Here’s how to help your elderly parents to get their finances and care in order.
The Difference between a Savings and a CD Account
When you’re ready to get fit, you start working out, trying to find the best equipment that gets you the most bang for your buck. What will really get you looking like J. Lo who seems to defy age? Similarly, when it’s time to get financially fit you want to find the right tools to help grow your assets and that starts with saving. There are two different tools that can help you stash your cash: savings accounts and CD accounts. Read on to learn more about these two options and decide what is best for you.
What My Quarterly Weigh-In Was Like
Our client Keeley shares about her initial fears for her first quarterly review and what she’s accomplished in her first 3 months as a client at The Gym. She’s upped her emergency fund and also budgets for fun money since we want you to keep living your best life! Great job Keeley!
What is the difference between ETFs and Mutual Funds?
You know you should be investing to build wealth and beat the cost of inflation. But when it comes to investing vehicles there are so many options to choose from. Some options you may have come across are ETFs and mutual funds. But what are they and what is the difference? Let’s break it down.
What My Plan Session Was Like
What’s it like to receive your financial plan? FinGym client Ruth Joseph explains how she tackled her plan’s “to-do” list!
How an Accountability Buddy Can Transform Your Finances
It’s almost the new year and you’re ready to get your finances in check. You’ve tried before but you tell yourself this time will be different. Sound familiar? Many of us have goals to improve our finances but fall short for a number of reasons. But there’s a secret weapon that can transform the process: getting an accountability partner.
What My Financially Naked Session Was Like
I was huffing and puffing on the stationary bike in the workout room of my Southern Utah home where my boyfriend and I live with our two dogs. I looked at the incoming call from New York with some amount of trepidation - "I am struggling to remain physically fit,” I thought to myself, "why am I adding the massive challenge of becoming financially fit to my plate?" The holidays were winding down and I was guilty of overindulging not only on food, but also spending too much on more than one occasion - I connected to the video chat anyway.
What My First Warm-Up Call Was Like
FinGym client Jessica Weeks opens up about how she felt about her WarmUp call and what she has accomplished in the 3 months that she’s been a client of Tai’s.
Top 5 Things You Need to Know About Filing For a Tax Extension
The tax deadline is approaching and panic is starting to set in. You feel like there’s no way you can get everything together to submit in time, so what can you do? The good news is you can file a tax extension. While that might seem like the easy way out, there are some important things to know first. Here are the top five things you should know and how to file for a tax extension.
Message from the CEO: Asking for Help
In case you didn’t know, The Financial Gym is my life’s purpose (in addition to being Will’s mom). And I never thought about living a purposeful life until ten years ago when my life coach suggested it would make me a happier human being. In 2009, I was living the opposite of a purposeful life. I was working at a hedge fund, making a six-figure salary; and my only career goal was to make more money and buy a massive home at some point. During my life coaching, one of my “exercises” included reading a book about Happiness; and after finishing it, I knew that I would find my life’s purpose in the pursuit of helping people. I just didn’t know what that would look like.
5 Ways to Use Your Tax Refund Wisely
After all the talk about Trump tax reform, you were worried about tax time. Will you owe? Or will you get a refund? But you got a tax refund! Phew. Getting back a chunk of change can be a relief and also cause for celebration. But before you start popping off the bubbly, think about how you can get the most out of your tax refund. We got you covered. Here are five ways you can use your tax refund wisely.
Do I have to report cash and side hustle income on my tax return?
If you’re a side hustler, but also have a 9 to 5 job, you might wonder how all of this will affect your taxes. You’re familiar with the W-2 life, but what about all of your side hustle income? Do you have to report it? Read on to learn more about what you need to know about side hustles and taxes.
My "Gym-Fueled" Life Changes
Client and Warm Up Call Associate, Rebekkah, has paid off $14K in credit card debt, funded her emergency savings, increased her credit score by 50 points and even funded a two-week European vacation. Learn how she overcame her money fears and to accomplish all of this and more.
5 Women to Know In the Personal Finance Space
You know at The Financial Gym we’re all about supporting women. As a female-founded company, we love supporting other women trailblazers, especially in the personal finance space. That’s why for Women’s History Month and International Women's Day we’ve rounded up our favorite top five ladies in personal finance.
4 Reasons to Enjoy the FinGym Webinars
Let’s be honest, webinars have a bad rap. If you’re anything like I am then you know the drill - log in, tune out. My experience with the Financial Gym webinars has been different. These one-hour sessions are packed with information and make it easy to get the most out of the brain power behind The Gym.
Message from the CEO - Are You a Woman of Action?
My message on International Women’s Day is to become a woman of action. Or, if you are a man reading this, encourage the women around you to become women of action. Whatever you would complain about, take the complaint and become the agent for change.
How the Financial Gym Helped Change the Way I View My Finances
I saw an ad on Facebook, and I was immediately intrigued about having a financial advisor that’s more like a gym trainer. My first thought was automatically “Oh, there’s no way I could afford something like that”. But did that stop me from signing up for a free warm up call and finding out all the information I could? No, it did not. I was immediately hooked after that first call and especially after I found out that I could afford the monthly membership fee.
Student Loan Debt Consolidation vs. Refinancing
Whether you should consolidate or refinance is a personal decision. If your main goal is to save money, refinancing can help. If you want to simplify your payments, consolidating can be a good option. Like any loan-related decisions, you want to read the fine print, know your interest rate, repayment term and monthly payment. Think of the short-term and long-term benefits, weighing the pros and cons to come to a decision that works for you.