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Confidence Wealth & Insurance Solutions February 26, 2016 No Comments

[Financial Friday] Cost of Living: Where You Live Can Affect How Rich You Feel

Do you find yourself treading water financially even with a relatively healthy household income? Even with your new higher-paying job and your spouse’s promotion, do you still find it difficult to get ahead, despite carefully counting your pennies? Does your friend or relative halfway across the country have a better quality of life on less income? If so, the cost of living might be to blame.

The cost of living refers to the cost of various items necessary in everyday life. It includes things like housing, transportation, food, utilities, healthcare, and taxes.

Single or family of six?

Singles, couples, and families typically have many of the same expenses–for example, everyone needs shelter, food, and clothing–but families with children typically pay more in each category and have the added expenses of child care and college. The Economic Policy Institute (epi.org) has a family budget calculator that lets you enter your household size (up to two adults and four children) along with your Zip code to see how much you would need to earn to have an “adequate but modest” standard of living in that geographic area.

What areas have the highest cost of living? It’s no secret that the East and West Coasts have some of the highest costs. According to the Council for Community and Economic Research, the 10 most expensive U.S. urban areas to live in Q3 2015 were:

Rank Location
1 New York, New York
2 Honolulu, Hawaii
3 San Francisco, California
4 Brooklyn, New York
5 Orange County, California
6 Oakland, California
7 Metro Washington D.C./Virginia
8 San Diego, California
9 Hilo, Hawaii
10 Stamford, Connecticut

Factors that influence the cost of living

Let’s look in more detail at some of the common factors that make up the cost of living.

Housing. When an area is described as having “a high cost of living,” it usually means housing costs. Looking to relocate to Silicon Valley from the Midwest? You better hope for a big raise; the mortgage you’re paying now on your modest three-bedroom home might get you a walk-in closet in this technology hub, where prices last spring climbed to a record-high $905,000 in Santa Clara County, $1,194,500 in San Mateo County, and $690,000 in Alameda County. (Source: San Jose Mercury News, Silicon Valley Home Prices Hit Record Highs, Again, May 21, 2015)

Related to housing affordability is student loan debt. Student debt–both for young adults and those in their 30s, 40s, and 50s who either took out their own loans, or co-signed or borrowed on behalf of their children–is increasingly affecting housing choices and living situations. For some borrowers, monthly student loan payments can approximate a second mortgage.

Transportation. Do you have access to reliable public transportation or do you need a car? Younger adults often favor public transportation and supplement with ride-sharing services like Uber, Lyft, and Zipcar. But for others, a car (or two or three), along with the cost of gas and maintenance, is a necessity. How far is your work commute? Do you drive 100 miles round trip each day or do you telecommute? Having to buy a new (or used) car every few years can significantly impact your bottom line.

Utilities. The cost of utilities can vary by location, weather, usage, and infrastructure. For example, residents of colder climates might find it more expensive to heat their homes in the winter than residents of warmer climates do cooling their homes in the summer.

Taxes. Your tax bite will vary by state. Seven states have no income tax–Alaska, Florida, Nevada, South Dakota, Texas, Washington, and Wyoming. In addition, property taxes and sales taxes can vary significantly by state and even by county, and states have different rules for taxing Social Security and pension income.

Miscellaneous. If you have children, other things that can affect your bottom line are the costs of child care, extracurricular activities, and tuition at your flagship state university.

To move or not to move

Remember The Clash song “Should I Stay or Should I Go?” Well, there’s no question your money will go further in some places than in others. If you’re thinking of moving to a new location, cost-of-living information can make your decision more grounded in financial reality.

There are several online cost-of-living calculators that let you compare your current location to a new location. The U.S. State Department has compiled a list of resources on its website at state.gov.

Confidence Wealth & Insurance Solutions February 22, 2016 No Comments

[Motivation Monday] Feeling Stuck? Read This!

Being stuck (whether it’s in a dreadful routine, a toxic relationship, or unhealthy habits) manifests differently for everyone, but it doesn’t go unnoticed. Slowly but surely, you start feeling bored, anxious, frustrated, and even empty among many other equally unpleasant feelings. In other words, if you’re stuck, you know it… even if you can’t bring yourself to admit it out loud.

You need to free yourself from that feeling, because the longer you stay caught in that web, the harder it’ll be to get out of it.

Feeling stuck often happens when you either don’t have a clue about what to do with your life, or when you know exactly what you want, but you don’t quite know how to make it happen. These may seem like opposite reasons, but actually, they both come from the same place: fear and insecurity.

When you start listening to fear’s little voice inside your head that only reminds you of your failures and flaws, it starts taking over. Turn its volume down and do everything you can to ignore it.

Fear and other feelings of inadequacy have a purpose; they try to protect us from outside danger. It’s completely normal to have those feelings… but you’ve got to know when to listen and when to move on. Don’t let fear and insecurity keep you stuck.

Of course, all of this is much easier said than done. Here are five steps you can take to build yourself up and get unstuck.

1. Change your perception.

Honestly, you might not even be as stuck as you think you are. Things can get us down, but at the end of the day, we have to remind ourselves how lucky we are and how much we have. Dedicate some time every day to this activity.

You can start right now. Go ahead and count your blessings. Start by being grateful for everything we usually take for granted: being alive, having a roof over of our heads and a bed to sleep on. Then, move on to other things like having people who care about you. List everything you can think of and that you are genuinely grateful for.

Gratitude is a proven way to make you feel relaxed. It changes your perception by making you focus on what you have instead of what you don’t.

2. Take care of your personal and financial well-being.

Once you’re stuck, it becomes awfully easy to lose yourself because you don’t have enough energy or motivation. Don’t let this happen. You deserve to take care of yourself.

Make sure you sleep and eat properly and never self-medicate. Taking care of your well-being is a sign of self-love and confidence. Don’t neglect your body and mind. You owe it to yourself.

Evaluate your financial well-being as well. All sorts of other problems stem from financial issues, so it’s very important that you know how to be financially fit. This will really give you some much-needed peace of mind.

If you don’t already know, learn how savings and investment accounts work and get yourself acquainted with some basic economics. Take care of yourself in all areas. You’ll be thankful for it.

3. Do something productive… now.

Start with something small like going for a walk, cleaning up, or simply getting out of your pajamas and putting on your favorite outfit. Don’t wait for a special occasion… after all, what could be more special than taking care of yourself?

Once you’ve done a seemingly small but productive task, do something you enjoy but that also challenges you. Get that recipe right, call that old high school friend just to catch up, paint, draw, color, make a donation to a charity of your choice, create a blog… there are endless possibilities.

Being productive takes your mind away from fear and speculation, and at the same time, it helps you to get things done. Start with something small (or big, if you’d like) but please start now.

No excuses allowed.

4. Practice some introspection.

Everything happens for a reason. Why are you feeling this way? What is it that you’re really craving?

Introspection doesn’t have to be hard if you do it your way, and it’ll help you get to the root of your problems. Do anything that resonates with you and allows you to get to know your inner thoughts and feelings. Maybe it’s chanting some mantras, practicing yoga, or having an “enjoy the silence” moment in the middle of your day. It’s up to you.

Give yourself the time to practice some introspection so that you’re able to hear the other “voices” within you, and not just the mean, fearful one.

Whatever it is that gets you in that soul-searching mood, make sure to challenge yourself and try to see the same issue from several points of view. When you’re stuck, it’s extremely hard to look at things from different perspectives. Challenge yourself and realize that neither your actions nor your thoughts have to be black and white. There are always more options.

5. Stop comparing yourself to others.

Comparing yourself to others will leave you feeling exhausted. If you’re constantly thinking about what others do and measure your own triumphs in comparison to theirs, you’re going to remain stuck.

Why? By picturing others happily achieving their goals and becoming successful, you’re chasing an unattainable idea of perfection. Do not confuse someone’s social media profile or magazine cover pictures with their entire lives. There’s no such thing as perfection, and we all make mistakes.

When you stop comparing yourself to others, you’ll feel free to live your own life and follow your path at the pace you’re supposed to.

If taking a peek into someone else’s life inspires you, then by all means, go ahead and use it to motivate you. But otherwise, avoid the all-too-common comparison game. It’s not easy, but it is necessary for your happiness.

It is possible to get unstuck. Follow these steps and make the wise decision to believe that you can improve your life.

Confidence Wealth & Insurance Solutions February 15, 2016 No Comments

[Motivation Monday] How to Make Your Goals Happen

We all have hopes, dreams, and goals. We imagine how great it would be to make them all real, but the hard truth is that without actually planning and taking action, our goals will stay daydreams.

However, there are thousands of women who are indeed capable of setting goals and achieving them. So, why should it be any different in your case?

Here’s another truth: you can turn your wishes into reality by action planning. Very few people make it because “they’re just lucky.” Most of the time, great amounts of creativity, perseverance, self-discipline, and positivity are involved in achieving satisfying lives. Having an action plan to follow allows you to focus on your goals and stay on the right track.

So, let’s get right down to it and see what you can do to make your goals happen.

Get real.

Yes, you are capable of designing and redesigning your life as you wish. Feel free to set your goals as high as you want to, but make sure to be realistic when you plan how to achieve them.

Let’s use one of the most common goals as an example: improving your financial status. Making a helpful action plan doesn’t involve simply declaring you want to be financially savvy or writing it down. Sure, those are important baby steps that can help you get clear about what you want and serve as reminders to go get it, but by no means is that a proper action plan.

What you should do:
Break down your main goal into several attainable little goals.

Planning to “improve financial status” is ambiguous, and it may take a long time. If you break it down into smaller goals such as “keep track of my spending habits,” “check my bank account balance once a week,” and “look for savings accounts,” it will help you stay on the right track and keep you motivated because you’ll see yourself taking action sooner.

Planning realistic mini-goals will also help you see that—no matter what your goal is—you can make it happen.

Prioritize.

Most of us don’t just have one goal, but many. Trying to achieve all our goals at the same time while carrying on with our everyday activities can turn out to be very overwhelming.

That’s where prioritization comes in. Getting into the “first things first” state of mind is extremely important.

Time is the most valuable resource you’ve got, so reflect on how you spend it and evaluate if you’re making wise choices.

What you should do:
Focus on what’s really important.

What’s really important to you? Do that first.

Otherwise, you’ll find yourself busy attending to common, everyday stuff (checking e-mail, binge-watching TV, common chores) and by the end of the day, you won’t have spent enough time on what really matters. Once you set your priorities straight, action planning won’t seem so difficult.

Plan from A to Z.

No matter how much positive thinking we practice and how much we plan ahead, sometimes things just don’t turn out the way we want. Most people tend to have a Plan B, in case things don’t work out perfectly, though not so many have a plan Z. That is, having a contingency plan for the absolute worst-case scenario. This may sound counterintuitive, but when you actually think and plan your way out of an undesirable outcome, you can reduce your stress levels.

What you should do:
Take a deep breath and start visualizing what can go wrong with Plan A.

After that, consider your options and have different, concise action plans. In all honesty, doing this can be a bit unpleasant, but once you’re finished, you’ll be prepared for whatever may come. Planning from A to Z will make you feel like you’ve got things together.

Review your progress.

Once you’ve set your heart and mind on a goal, it’s relatively easy to feel motivated and take action.

Let’s say you’ve been saving up some money because that’s your goal. What would happen if you didn’t keep an exact record of your expenses? How much exactly are you saving and what did you give up to save it? What are you planning to do with your savings and how far are you from that “bigger” goal?

If you find yourself unable to answer these questions, you’ll be lacking motivation within a couple of days – no matter how good your intentions may be.

What you should do:
Keep track of your progress.

Review how far you are from your goal and answer the tough questions as needed. If there’s something else you should be doing to move forward, schedule it and do it.

On the other hand, keeping track of your progress will let you know if you’re moving closer to achieving what you want. When that happens, give yourself a well-deserved pat on the back.

Commit.

Wishes require imagination and excitement; goals require commitment.

Motivation and passion won’t always be at an all-time high; that’s why when you truly want something, you’ve got to commit.

Make a promise to yourself, a friend, or the universe: whatever it takes to hold yourself accountable and take responsibility for your own actions.

What you should do:
Find a balance.

There will inevitably be days when you just won’t have the energy or time to take that next step in your action plan. Talk yourself through the rough patches from a loving place, instead of thinking that you won’t be able to accomplish what you want and how much easier it would be to drop everything and stay in your comfort zone.

Remember that you’ve made a commitment and honor your word. Don’t let stress or fear get the best of you. Instead, if you’re feeling lousy, take a no-guilt break to recharge and carry on.

There are no big secrets or magic tricks when it comes to achieving your goals. There’s just a lot of hard work and planning involved. So don’t wait any longer and design a proper plan that allows you to take action.

You are perfectly capable of turning wishes into goals and goals into realities.

Confidence Wealth & Insurance Solutions February 8, 2016 No Comments

[Motivation Monday] Find Out Where Your Power Is

Sometimes we know what we want, but we don’t know how to keep our cool in order to get it. Managing our emotions and reactions is a big part of success and general well-being.

Of course, there will inevitably be times in which we feel powerless, because as humans we tend to overthink and overanalyze things to exhaustion. This makes us feel like we don’t really own our experiences and are unable to control what goes on in our lives.

You know what they say…

How much time in our lives do we spend thinking about how badly we’d like to do something, only to find reasons not to? How much time have we spent thinking there’s nothing we can do about certain situations?

When push comes to shove, we forget that our genuine power resides in our ability to respond to different situations in different ways. What we can control is our attitude.

Attitude is everything. I, for one, have been guilty of allowing negative emotions to linger longer that I’d like to. Don’t get me wrong; all emotions, including fear and anger, are natural and can function as a compass to help us discover what we truly want.

But there’s no point in being bitter or holding on to grudges. There’s no point in making excuses rather than creating opportunities for each aspect of our lives that needs a “makeover.”

This is my humble plea:

Let’s use our power. Let’s not overcomplicate our lives. Let’s handle our emotions, attitude, and behavior to improve ourselves and live our lives to the fullest.

Here are some suggestions to start right now.

1. Start your day right.

Always take the time to remind yourself that you get to experience another day. Make the best of it by starting the morning in a way that feels right to you. Invest time in a morning routine that gets you pumped up and ready for what’s to come. Meditating, working out, fixing a special breakfast, some reading or journaling… the possibilities for improving your morning (and therefore your day!) are endless.

Just make sure that you create a routine based on things that are good for you and make you feel happy or satisfied at the same time. A positive morning can give you great peace of mind and you’ll be ready to face the day.

2. Make an effort to keep things simple.

It’s ironic, but sometimes it’s easier to complicate things. Think about it: people fight, worry, and stress over things when they could use that same time to look for solutions instead. Try to keep things as simple as possible and, if things get unnecessarily complicated for you, reach out and ask for help.

The process of becoming financially fit illustrates this point perfectly. Many people struggle to keep track of their finances, savings, and investments. Some people just flat-out say to themselves that they’re just not good with money, as if that was some genetic condition they were born with.

If those same people—instead of giving up and assuming they’ll never reach their financial goals—made an effort to learn money management skills, challenged their beliefs about money, or simply asked for our help, they would save themselves a lot of time and trouble.

The same goes for other skills like cooking and basic self-care like drinking water, exercising, and maintaining healthy relationships: keep things simple and be happy.

3. Check your beliefs.

Behind our actions and emotions are our thoughts and beliefs. One great self-improvement exercise is examining what types of beliefs we’re acting out through our attitudes towards life. For example, if you feel alarmed thinking about the future then it’s very likely that, deep down, you’re afraid something bad will happen. It sounds obvious, but when you actually experience an uneasy emotion, it becomes unbelievably hard to determine why you’re feeling that particular way.

If you tend to get anxious, angry, or sad, don’t be afraid to reassess your own beliefs. There are many situations you can’t change, but you can change what you feel about them by truly challenging your beliefs.

Replace unhealthy and self-limiting thoughts with kind ones.

Always remember that how you talk to yourself is extremely important for your well-being.

Try this approach the next time you get irritated by something silly (like when you’re stuck in a traffic jam). Get used to shifting your focus to the positive side of things and it’ll get easier and easier with time.

4. Face your problems.

You need to take matters into your own hands and take action towards solving your own problems. If you haven’t already, start acting like you’ve got everything under control and handling your stuff (yes, this includes delegating responsibility too!).

At the end of the day, you’re the boss of your own life, so there’s really no reason to not act like one. Respect your skills, abilities, and feelings and use them to your advantage. Face your problems with all you’ve got, and you’ll become empowered by them. There are plenty of ways to get the courage necessary to push yourself into taking positive action. Read our list of tips to boost your self-confidence.

5. Remember just how powerful you are.

Each and every one of us has the ability to experience and try out new things. With the right attitude and frame of mind, you’ll become more aware of your powers until you will feel like you can handle whatever life has in store for you. Don’t stop learning. Don’t stop creating. Don’t stop feeling.

You are more powerful than you think.

Confidence Wealth & Insurance Solutions February 1, 2016 No Comments

[Motivation Monday] How To Find Treasures All Around You

It’s never too late to become a treasure hunter. Treasures are all around you; you just have to train your eye to be able to see them.

A treasure is whatever makes you feel rich and luxurious.

Some people simply love how sunshine feels on their skin; others feel content when everyone’s at the dinner table about to enjoy a homemade meal. Maybe your thing is rewarding yourself by sipping your favorite cocktail after a hard day, doing a full spa session, or throwing a particularly fluffy blanket on your bed on a chilly night.

Everyone who’s lived a little can attest that luxury is not always about gold, five-star hotels, or fat wallets.

Luxury is a treat and we all have the ability to enjoy life’s many treats, no matter what our finances. This article is about how important it is not to take them for granted. A life of luxury is a life well-lived.

Hunting for treasures in the form of experiences and achievements can leave you with a sense of fulfillment that no material possession could compete with.

Learning to appreciate the “little things” – which, as it turns out, aren’t so little after all – gives us the opportunity to find treasures every day.

Learning how to appreciate the things, opportunities, and people around us is one of the keys to a healthy mind and heart. Plus, it gives us a new perspective on another hot topic: money and literal wealth.

Money is considered a sensitive subject. In many different cultures, it’s rude to simply talk about it. We have developed many negative beliefs around money because we treat it like a secret… and thinking that it’s something evil, shameful, or vain (like most secrets are) can cause us to act in unhealthy ways.

There are those who work themselves to exhaustion in order to get more and more of it, without a purpose or vision other than to hoard more money. On the other hand, there are those who avoid it because the mere mention of a salary raise or a glance at their bank account makes them feel queasy. Needless to say, neither is a healthy option.

We’ve talked about limiting beliefs related to money before. Most of the time we aren’t even aware we have them. To fully become a proper treasure hunter and discover all the abundance that surrounds you, make sure to identify why the topic of money makes you feel uncomfortable.

Here we’re talking about money, but this also applies to life in general, really.

One of the ultimate things you can do is to find a balance. Things aren’t black or white. You don’t have to be the richest person on the planet nor the poorest. The same goes for love. In fact, think of someone you love right now: Have there been any moments when that very same person made you feel upset?

… Of course there have!

Because the bonds we form with others, whether they’re people or things, are meant to flow and run their course. Follow the same logic with money matters, wealth and our very special definition of life’s treasures, and you’ll find the balance sooner or later.

Are you ready to go treasure hunting right now? Here’s a 5-step challenge for you:

1. Make amends with money.

To leave limiting money beliefs behind, it’s important that you deeply consider what money really means. Like everything, it has a deeper, more transcendent meaning if you’re open to finding it.

Money helps us to express value. When you buy something or pay for it in exchange for a service, you’re contributing to the economy and indirectly supporting and encouraging the flow of resources, creativity and work. The same applies when you receive money in exchange for your honest and valuable work.

Money isn’t a shameful secret or a guilty pleasure; it’s a way, amongst many others, to express value.

2. Create your own mantra.

Mantras are great reminders and they can help you get into the right mind frame when you’re stressed out. Create or find a quote that’s meaningful to you. It will act as an affirmation of the many treasures around you.

3. List all the things that feel like a treasure to you.

It’s not enough to read an article about life’s many treasures… you have to see it for yourself. Make a physical list of everything you consider a treasure or a luxury that is currently in your life. Family members, close friends, a job, food and clean water, financial stability, your favorite book, those gorgeous shoes, time for yourself… the list will be long. Don’t forget to include experiences that have enriched your life, such as a memorable trip.

Once you’re done, take a deep breath and be thankful for all your treasures.

4. What treasure would you like to discover?

You can think about some other treasures yet to be discovered. What is it you’d like to have now? How would you like to feel? Set your goal and focus on your actions. If you feel insecure, go back to your treasure list and see how much you’ve been able to accomplish so far.

Once you know that you have enough and that your life is already filled with luxuries, which sadly not everyone in the world can afford, you’ll proceed to reach for your goals from a thoughtful, whole-hearted place.

5. Give.

To end this little challenge on a high note, it’s time to give back. We’ve agreed that things are meant to be shared and to flow amongst people. Now, let’s put our theory into practice.

Choose something to give: donate clothes, give something to charity, offer to walk your neighbor’s dog, leave a really generous tip… it’s your call. Give and contribute to the generosity in our world.

How do you feel?

Hopefully you feel a difference in your mood. Describe it and don’t be afraid to come back and repeat this challenge. You are now a treasure hunter!

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