Workable Wealth Happenings, FInancial Tips, Blogs Posts & More!
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What an exciting two weeks it's been! After sending out the first Workable Wealth newsletter, I was fortunate enough to have some great things happening. One of my latest blog posts, Financial Planners Aren't Perfect received a lot of positive feedback from my industry peers and was shared on this blog by Michael Kitces, an industry expert and leader (who provided valuable advice as I started down the path of creating Workable Wealth). Also, I found out that some of my writing is being picked up by Advice IQ and shared with their readers, beginning with Tax Surprises and Newlyweds. My story of how my husband and I saved money on our wedding went live on GoGirl Finance last week too!

However, the most exciting news of all is that I was named as one of San Diego's Emerging Leaders: 25 in their 20's by San Diego Business Journal! Talk about an amazing and humbling experience. With 100 finalists, it's an honor to be named a winner and to be part of such a diverse and respected group.

This week Brian and I celebrated our two year anniversary. It's been enlightening to take pause and look at all that we've accomplished and experienced during our first two years. Every commitment we make becomes a journey of some sorts in our lives, whether long or short, easy or stressful in nature. Your finances are no different. When you commit to living your best financial life, you're committing to going on a journey. It will include questions, plans, self-discovery, change and decisions, but ultimately, it will lead you to reaching your goals. Remember that being financially healthy doesn't happen overnight. Allow yourself to take one step at a time and conquer each question, decision or change as it arises. 

If you haven't seen, I'm offering limited-time pricing on my Financially Sound package. If you're thinking about getting your finances organized or questions answered, contact me today to set up a free 30-minute consultation. 

Mary Beth
Mary Beth Storjohann, CFP(R)

P.S. If you know of someone who would benefit from receiving this newsletter, please forward it on! The Workable Wealth community will continue to grow with the help of awesome people like you!

Fun Finance App

If you're a frequent business traveler who needs help keeping track of your expenses, check out Expensify. It allows you to scan receipts, track mileage, sync debit or credit cards to track spending, and create expense reports. 

Q: What is the difference between Good Debt and Bad Debt?

A:  Bad debts are those types of debts where you are faced with an increasing “balance owed” on an item of decreasing value. This includes your credit card debt which may typically be used to pay for clothing, dining out, electronics and other personal objects. These are all items that lose value once you purchase them. Not only are you borrowing money from your credit card company to buy these items, but you’re paying interest on the borrowed funds as well (if you don’t pay off your balance in full each month). This means your purchase is actually costing you more than if you had just paid cash.
Good debts are those where the principal funds have been used to pay for something that will either increase in value or will provide a benefit, which can lead to increased earnings or value.  Good debts include student loans and mortgage balances and typically have lower interest rates than bad debt. Your student loan provides funding for your education, which in turn allows you to earn a higher income. Your mortgage provides you the ability to purchase a house which may increase in value over time and result in you having a position with positive equity.
Regardless of the type of debt, don't overextend yourself. Your financial health will be harmed if you’re unable to keep up with payments or put away for your future. 

That your "Human Capital" is one of your most valuable assets?

Your human capital is your ability to earn an income and should be one asset that you definitely take the time to invest in. It includes your skill set, expertise, education and ability to connect or interact with others. When it comes to ways to invest in your human capital, below are some questions to consider:
  • What skills or certifications could you acquire to enhance your value or diversify your experience?
  • What types of industry conferences, events or trainings are available for you to attend?
  • What is the latest news in your company and industry? Are you aware of trends, revenue sources and the overall market for your company or product?
  • If you were fired today, would you look for a similar position or make an industry or career change?
  • How can you make yourself indispensable to your employer or to your clients?
  • Who are you connected to professionally? Have you taken the time to invest in those relationships? Should you establish new ones?
  • What is your dream job?
Look for next week’s blog post where I’ll elaborate on each of these questions and give additional insight on investing in your ability to earn an income.

Fall Happenings

9/18/13: To Merge or Not to Merge: Dealing with Bank Accounts as a Couple 

San Diego Business Journal Emerging Generation: 25 in their 20s Awards (where I was named a WINNER!) 

San Diego Magazine Women Who Move the City Event (I was named as a finalist for Woman of the Year!)

9/25/13: Planning Essentials for When You're Expecting

9/26/13: Workable Wealth Newsletter

Note: Blog Posts come out each Wednesday and our Newsletter will go out every other Thursday.
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