Dr. Judith Gerhart, CFP
Certified Divorce Financial Analyst 
Finance
« Previous Articles Next Articles »High Credit Scores? Be Careful
Friday, May 29th, 2009
There’s a downside to high credit scores: identity theft.
The most creditworthy consumers are far more likely to be the victims of identity theft, according to a study released this week by credit reporting agency Experian. The top 20% of borrowers, in terms of credit scores, accounted for nearly half of all identity theft cases.
The top [...]
Spending Strategy 3
Wednesday, May 27th, 2009
THE STICK STRATEGY
How it works: You’ll need to choose a “referee,” someone whom you trust to hold you accountable for sticking to your spending or saving goal and who will be willing to monitor your progress. Make a contract with this person via Stickk.com, a site that uses financial punishments to hold you to your [...]
Spending Strategy 2
Tuesday, May 26th, 2009
THE BUDGET BOOT CAMP
How it works: This will require one intense weekend - but just one weekend. Pull out your bank and credit card statements for the past three months, and make a list of your recurring expenses and the amounts.
Now instead of budgeting per se, you’re going to pick one or two large line [...]
Spending Strategy 1
Monday, May 25th, 2009
THE BUCKET BUDGET
How it works: You’ll need three bank accounts - two checking, one high-yield savings. First, figure out how much of every paycheck you want to put toward savings. Have that automatically sent to the savings account, which serves as a future-goals way station; you can redirect it later.
Send the rest of your paycheck [...]
Your Money Will Never Be The Same
Sunday, May 24th, 2009
Investments: Less risk
In the old days — before 2008, that is — an aggressive portfolio had 80% or more of its assets in stocks. No matter how well you’re doing now or how well you or others think stocks will do in the years ahead, investors are so shell-shocked from their bear-market losses that it [...]
Saving Tips for Summer
Friday, May 22nd, 2009
You can save money throughout the year, but the warm temperatures of summer provide a few additional tips that can help you save even more money. Here are some things to try during those warm months.
Turn off the air conditioning. This doesn’t mean you have to suffer through sweltering heat, but you should be aware [...]
3 Traits for Budgeting
Thursday, May 21st, 2009
Creating a budget isn’t incredibly difficult, but where most people fail is trying to maintain the budget. It usually starts with good intentions, but just like dieting, it doesn’t take much to derail your entire plan. Here are three traits you must posses if you want to create and maintain a successful budget.
A Positive Attitude
Without [...]
Hiring Financial Help
Tuesday, May 12th, 2009
Things to Know:
1. Anyone can call himself a planner.
To avoid amateurs, hire a planner who’s earned special credentials (such as a Certified Financial Planner or Personal Financial Specialist designation) by meeting training standards or having a certain level of experience.
2. Planning is more than investing.
Not all planners offer comprehensive services. Some just give investment advice [...]
Examples of Good Debt
Monday, May 11th, 2009
Debt is not always a bad thing. In fact, there are instances where the leveraging power of a loan actually helps put you in a better overall financial position.
Buying a home
The chance that you can pay for a new home in cash is slim. Carefully consider how much you can afford to put down and [...]
More Things to Know
Friday, May 8th, 2009
Tips for Setting Priorities:
1. Put time on your side.
The most important ally you have in reaching your goals is time. Money stashed in interest-earning savings accounts or invested in stocks and bonds grows and compounds. The more time you have, the more chance you have of success. Your age is a big factor - younger [...]
