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Elizabeth Starr Harden, LLC

personal money coach

Articles, Essays, and Think Pieces

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Why I Don’t Have an “Emergency Fund”

Unless you’ve just landed from Mars, chances are you’re familiar with the concept of the Emergency Fund (EF).  Every financial guru I’m aware of preaches the need for an emergency fund. I do not have an Emergency Fund. Now, don’t get me wrong, I’m all about having money to cover emergencies. The problem is that the concept of an Emergency Fund is overused and the purpose and scope of the EF is too generalized and nebulous (unclear, vague, or ill-defined).  In … [Read more...] about Why I Don’t Have an “Emergency Fund”

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K.I.S.S. Your Categories

It can be tempting to go overboard when creating YNAB budget categories. After all, the impetus behind a budget is usually a desire to rein in spending. Or at least figure out where all of our money is going, right? Who wouldn’t be curious to know how much is being spent each month on shampoo or pet chew toys? I encourage my clients to resist the temptation to get too granular with their categories. The time and effort required to break receipts into multiple categories can be a … [Read more...] about K.I.S.S. Your Categories

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Reframing the Question

Sometimes when we’re looking for an answer it helps to go back and make sure we’re asking the right question. One question I absolutely abhor is, “Can I afford it?”  Framed this way, the question screams poverty consciousness.  What this question really means is, “can I squeeze this monthly payment in with my other monthly obligations and not exceed my monthly income.”  It’s a snake oil question.  The millionaire next door, while she was amassing her millions, never asked … [Read more...] about Reframing the Question

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Four Principles of Finance Wellness

I have a little slideshow I use when I teach a class.  It provides the students/audience with something to look at other than me. On the very first slide are my Four Basic Principles of Personal Finance: Spend less than you earn.Understand and identify your needs vs wants.Practice delayed gratification.Let. Money. Sit. At first glance, these rules are ridiculously basic.  Simple, even.  Laughably simple?  Yes.  But each one has multiple layers of complexity … [Read more...] about Four Principles of Finance Wellness