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Make the most of your money

Spending Too Much? Earning Too Little?

Here’s what I’ve been reading this past week or so:

Are You Spending Too Much or Earning Too Little?

Budget. The dreaded word. Most people run screaming when they hear this loaded word. Even the softer term “spending plan” makes people squirm a little. Whatever you want to call it – understanding where your dollars go each month is crucial information to being in control of your personal finances. Maybe we avoid budgeting because it sounds super boring and overwhelming. And maybe we just don’t want to know! We’re afraid of what the numbers might say. Sound familiar?

If you’ve made it past the first paragraph, congratulations! You’ve decide to push past the fear and uncomfortable feelings to hear a little more. Why is knowing your expenses so important? Your money boils down to one simple formula:


So you either make more or spend less. These are the things you can control.

It doesn’t matter what method you use to gather the information. You can use the approach described in PureWow’s article, use a budgeting app, or go old school with a big manilla envelope where you put all your receipts from the month to tally at the end. My recommendation is to remind yourself that this is just information, not a referendum on you, your life, or how you choose to spend your money. No blame. No shame. This information is the first step to figure out what’s next for your money. That is all.

Higher Inflation Ahead? Maybe. But Don’t Even Try to Predict It.

Inflation is the latest villain in financial headlines. (The way I think about inflation is using one of my favorite things to do – watching movies in a theatre. In 1984, a ticket to see Michael J. Fox, aka Alex P. Keaton, in Back to the Future at the movie theaters at Woodfield Mall Theatre was $3.50. Now, a ticket to see the latest movie costs $14. The growth in the cost of the movie ticket is inflation.) This NY Times article explains the unfortunate truth, which is no one knows what will happen with inflation. Therefore, trying to time the markets with predictions is a risky venture. Best solution? The writer Jeff Sommer’s advice is “You don’t need a crystal ball. Embrace a buy-and-hold strategy, setting up a portfolio with diverse, low-cost index funds, including stocks and bonds, in an appropriate asset allocation.

When a 59% Annual Return Just Isn’t Enough

Another Jason Zweig article. This one starts with “Optimism is as American as hot dogs and apple pie. Too much optimism, though, is about as good for you as eating a few dozen hot dogs and slices of pie.” Mr. Zweig talks about how investors don’t have realistic expectations of market returns or don’t realize the iron-clad nerves you need to ride out the volatility. Can you stomach watching your investment-of-the-day fly up $50,000 one day and then $100,000 down the next?

This U.S. City Has the Highest Share of Super Rich in the World…

It’s not New York or San Francisco. Guess which one it is?



BW Financial LLC dba BW Financial Planning is an Investment Adviser registered with the State of Colorado.

All views, expressions, and opinions included in this communication are subject to change. This communication is not intended as an offer or solicitation to buy, hold or sell any financial instrument or investment advisory services. Any information provided has been obtained from sources considered reliable, but we do not guarantee the accuracy or the completeness of any description of securities, markets or developments mentioned. We may, from time to time, have a position in the securities mentioned and may execute transactions that may not be consistent with this communication’s conclusions. This communication is for informational purposes only and should not be construed as legal, accounting and/or tax advice. Should you have any questions and/or issues in these areas, please consult your legal, tax and/or accounting adviser.

Financial Planning, Investing