You already know that Bourke Accounting professionals hate thieves. Whether it’s identity thieves, scammers preying on the uninformed or flat-out take the money and run types, Bourke Accounting has no stomach for the whole evil lot. However, there’s another group out there that might be more insidious than the rest. This group takes advantage of the vulnerable and desperate, all under the guise of legality.
Ladies and Gentlemen: let me introduce you to Payday Loans.
In case you are unaware, a payday loan, as defined by Consumerfinance.gov, is “usually a short-term, high cost loan, generally for $500 or less, that is typically due on your next payday.” I know you’ve driven past places that offer these sorts of loans: little building, lots of glass and, out front, there’s a “wacky waving inflatable arm flailing tube man” (Wikipedia.org) swaying in the breeze. And we all know that nothing says “legit” like a wacky waving inflatable arm flailing tube man.
Is it possible that I have a problem with these payday loans? Yes, yes, it is. I’ve seen hardworking people practically crushed under the weight of the fees, interest and penalties because they fell on hard times and even harder strip mall loan sharks. These businesses prey on individuals who have just run clean out of options.
Most of these places charge between $15 and $30 in fees for every $100 borrowed. So, if you get a two-week $500 loan at $15, “that works out to an annual percentage rate of almost 400%” (Creditkarma.com). But the fun doesn’t stop there. On top of the original fee, one can also look forward to nonsufficient funds charges that can occur if you don’t have enough in your bank account when the “lenders” try to cash your check. Then there’s late fees and rollover fees (fees charged “on top of the original loan and initial fee to push back your loan’s due date” – Creditkarma.com). According to Nomoredebts.com, a lot of people avoid defaulting on their loan by renewing it, and in some cases, “the loan gets renewed so many times that borrowers can end up paying almost as much as the loan itself in just fees alone.”
Another sweet part of a payday loan is the fact that, once you’ve signed on the dotted line, “you can’t back out” (Creditcards.com). It doesn’t matter if it has only been two seconds since the ink dried, you are on the hook. Even the Devil is willing to give you an opportunity to win your soul back.
So, no. I don’t like payday loans; taking advantage of scared and hopeless people is about as low as kicking puppies. Thankfully, there are now 13 states where “payday lending is illegal or made not feasible by state laws” (Creditcards.com). Hopefully, this trend will spread.
Bourke Accounting hopes that you never find yourself a victim to one of these disgraceful establishments. However, if you find that that’s just what happened, see a Bourke Accounting expert for advice on how to free yourself from the leeches. Your Bourke Accounting specialist wants nothing more than to make your financial journey painless and parasite-free.
Come see us any time. Our number is 502-451-8773 and don’t forget to visit our website at www.bourkeaccounting.com. See you soon!
Written by Sue H.
We all know about The Five-Second Rule. You drop a cookie on the floor, look around, pick it up (maybe blow on it) and eat it. If someone else is in the room, you shout: Five-Second Rule! Generally, the other person shrugs and concedes. I mean, come on. Five-Second Rule.
The Five-Second Rule doesn’t apply solely to dropped food, though. For example, after I interviewed at Bourke Accounting, Bill sent me an email offering me a job. It only took five seconds for me to decide: Yes, a job would be very nice right now. In that small timeframe, I started down an unexplored path that is turning out to be very pleasant.
Think about every substantial thing that has occurred in your life. I am willing to bet that the biggest changes happened within five seconds. Let’s say your significant other broke up with you after many years. To be fair, you knew things hadn’t been going well: arguments over money, snide comments, what have you. The break-up conversation lasted for hours, but the important part was that tiny little bit of time when s/he sadly said, “This isn’t working” and your life was drastically altered.
Yes, yes, that was depressing (I’m sorry), but it works the other way, too: you’ve been trying for a long time to have a baby. After almost giving up, your partner presents you with a card that says: Hi, Daddy. In the time it took to read that, everything is different. While you’re hugging and kissing and randomly thinking of names, you think to yourself: I wasn’t doing this five seconds ago…
Since our regular lives are very fragile, it’s important to realize just how much can change within an instant. This is an especially crucial fact to remember while driving. We’ve all seen the commercials advising against texting and driving, yet we still do it. While not intentionally trying to hurt anyone, each time we look down to respond, “See you soon, LOL,” we’re putting others at risk. Everyone who has ever been in an accident can attest to the fact that it was over before they even knew it began. So, please, when you get in the car: seatbelt on, phone off and hands at 10 and 2.
The Five-Second Rule is also in operation when dealing with people outside of cars. If someone is seriously rude to you, more than a few options quickly pop into your head regarding how to proceed. In a heartbeat, and if you choose poorly, your day can go from mildly annoying to devastatingly bad. If your choice is not to walk away, you get to participate in an immature name-calling match. If your choice is even worse than that, you get to spend the night in jail. Always be aware that your peaceful life can become chaotic if you let your baser instincts take control for even a little while.
Besides watching how you drive and deciding not to slap the discourteous clerk, other choices will have a huge impact, as well. When it’s time to seek a tax preparer or bookkeeper, Google will help you find names. And you may even have good luck with them. However, if you want a decision to really change your life for the better, and with no hassle, your only option is a Bourke Accounting professional. Not only will Bourke Accounting specialists listen to your concerns, they will offer solid advice for any situation you could possibly be in. Teaming up with a Bourke Accounting pro will give you the best results of your financial life. And you don’t even have to yell “Five-Second Rule!” if you drop a cookie. Bourke Accounting experts understand you and the Five-Second Rule.
Come see us any time. Our number is 502-451-8773 and don’t forget to visit our website at www.bourkeaccounting.com. See you soon!
Written by Sue H.
Does the idea of Valentine’s Day fill you with wonder and anticipation? Have you been planning an elaborate spectacle for the last six months to prove your love? Perhaps you’re intending to propose to your intended. If that’s the case, the “Proposal of the Century Package” at the Langham Huntington in California is just the thing. This “plan includes private use of the Rose Bowl Stadium” with the entire Pasadena Symphony Orchestra nearby to set the mood while you bend a knee (CNBC.com)! All for the rock bottom price of $100,000!
Or you could be like me and everyone I know.
We don’t hate Valentine’s Day. We simply don’t want to be strong armed into lacy, pink expressions of affection. And psychologically speaking, this isn’t our fault. Livescience.com mentions that, “in marketing, there’s a notion called ‘resistance theory.’” This concept says that if folks “feel like they’re being asked to comply with a prescribed, prepackaged behavior, they’re unlikely” to go along with the program. Considering the very personal nature of love, it’s not surprising that some of us don’t want to be told by Hallmark how (and when) to express that love.
In addition, the history of Valentine’s Day is a little macabre, when you stop to think of it: an emperor in the third century thought marriage made for dreadful soldiers, so he banned all marriage. Valentine (before we knew him as “Saint”) decided to go ahead and perform marriages anyway. When Big Dog emperor found out, he imprisoned Val and sentenced him to death. Valentine fell in love with the daughter of one of his captors, wrote her a letter signed “Your Valentine” and shuffled off this mortal coil on February 14th (BBC.co). Wow. That story is about as romantic as “The War of the Roses”.
For those of you who enjoy Valentine’s Day, there’s no shame involved. So, you pull out all the stops, including an expensive dinner and googly eyes throughout. But then. Then, there are the serious Valentine’s Day superstars among you. Case in point: my friend’s grandfather wrote a book that had been out of print for over 50 years. Her partner hounded rare book dealers, followed up on leads, hit dead ends and, at last, found the book for $24 (plus shipping) and presented the book over a Brooklyn pizza. They’ve been married for the last couple of years. I like to think they’re happy.
Whether you love Valentine’s Day, are indifferent to it or hate it, can we all agree on one thing? Let’s band together to get Sweethearts Candy hearts (you know, the ones with the little sayings on them) back to the original recipe. You couldn’t find them last year and now, I’m told, they don’t taste the same when you can find them, as the company has been sold. I miss them. And people say I’m not a romantic.
Our Bourke Accounting experts run the gamut between loving VD Day and hating it. Some of our Bourke Accounting reps decorate their offices with hearts and bows, some give you a snort and a cocked eyebrow if you ask what their “love day” plans are. However, all of our Bourke Accounting specialists are solely dedicated to providing you with the most efficient, accurate and comprehensive service. And you know, I think they all might love you just a little bit…
Come see us any time. Our number is 502-451-8773 and don’t forget to visit our website at www.bourkeaccounting.com. See you soon!
Written by Sue H.
Dedication is a funny thing. There are some people out there who are willing to suffer, and sometimes die, for their passion. For example, Ludwig Van composed his “greatest works…including the Ninth Symphony” (Hyperhistory.com) while completely deaf. Marie Curie died of “aplastic anemia from exposure to radiation” (Wikipedia.org) caused by her research. And then there’s Ronnie Lott.
I don’t watch the Super Bowl, but I am aware enough to know that it just happened. It reminded me of a story my best friend, a hardcore football fan (and former player), once told me about a football player who broke his finger during a game. Because this gentleman was concerned about not being able to play, he had the doc cut off said broken finger. When my friend told me about Ronnie Lott, I could see that maniacal glint of the true believer in his eye. My friend seemed almost wistful that, besides his knees, he couldn’t sacrifice more to the game.
In 1981, Lott was drafted by the San Francisco 49ers where he went on to “win eight division titles and four Super Bowls” (Wikipedia.org). There is also a trophy named after Mr. Lott that “is the only college football award to…recognize athletic performance and the player’s personal character attributes” (NBClosangeles.com). In addition, Mr. Lott “was inducted into the Pro Football Hall of Fame in 2000” (Fanbuzz.com). These are really impressive achievements. But what was that about an amputated finger again?
I had heard that Mr. Lott broke his pinky during a game and then had the doctor amputate it in the locker room so he could return to the game, unencumbered. This is only sort of true. While it is factual that he broke his finger and it is factual that he returned to the game with it taped up, Mr. Lott didn’t have some bizarre Dr. Frankenstein hack his finger off amid dirty jockstraps.
According to Dan Brown, author of “100 Things 49ers Fans Should Know & Do Before They Die,” Mr. Lott was given the choice to go through a long surgery that would keep him sidelined for a minute or to have his finger amputated just above the first joint. He chose the second option and was back in time for the 1986 football season.
This sort of dedication is admirable, but is it good for you? How much are you willing to give up for a job, no matter how passionate you may be about it? Forbes.com suggests that if you give too much, your “tireless work ethic” will not be valued, as everyone is so “used to seeing you killing yourself.” It becomes rather a situation like: Ho hum, Employee A worked all weekend. Again. In addition, according to Forbes.com, your blind dedication can cause you to pass up offers that could turn out to be better for you in the long run. Dedication and loyalty are great things, just not if they mean you end up hurting yourself.
I don’t have to tell you how dedicated Bourke Accounting bookkeepers and tax preparers are. During this tax season, our Bourke Accounting reps are giving up family and free time to make sure that your financial needs are well met. However, as devoted as they are, they still understand that there are more important things in this life than the job – just try to keep Bill in the office if his pup, Loretta, gets sick! At Bourke Accounting, we’re willing to sacrifice for the game, just not all the way.
Come see us any time. Our number is 502-451-8773 and don’t forget to visit our website at www.bourkeaccounting.com. See you soon!
You just made it onto the elevator because the gentleman inside held the door for you. You find that the button for your floor, the 23rd, is already lit up. You nod “thank you” to the guy and face the door. The elevator, notoriously slow, begins to rise. And then. Oh, no. “What about this rain, huh?” Oh, no, no, no. It is first thing in the morning, you are on a very slow-moving elevator and you are trapped with a small talker. There is no escape.
As humans, we are generally forced into small talk every day. Most instances are quick: May I have $20 on pump 3? – waiting for receipt to print – how’s your day going? You’ve acknowledged the person in front of you, shown yourself to be polite and now you can go on your way. However, there is some small talk that seems to go on for pointless eons. Why do we do it to ourselves?
According to Englishclub.com, the first reason we commit small talk is “to break an uncomfortable silence.” Yup, nothing like breaking an uncomfortable silence with an even more uncomfortable conversation. Englishclub.com also says that we make small talk “simply to fill time.” Not all time needs to be filled, fellas.
For example, I was in a waiting room, reading a book. The woman next to me asked my opinion about the Family Feud episode on the TV. I smiled, said that I hadn’t been watching and went back to my book. I thought I was politely avoiding a long conversation about the antics of Steve Harvey, but I was mistaken. No amount of noncommittal “uh huhs” deterred her. I was overly excited when my gynecologist came to collect me.
If you Google “how to avoid small talk,” don’t expect tutorials teaching how one may dodge useless conversations with strangers. Instead, the articles advise how to make small talk more substantial and interesting. Fairygodboss.com suggests asking “open-ended questions that prompt stories instead of answers.” In addition, if the person is talking about something that bores you, you’re meant to redirect their attention to something in the room. I’m not kidding. Point at a painting and say “Pretty!” to stimulate deep and meaningful conversation.
Wikihow.com offers advice to avoid talking to people, period, but it reads like a serial killer’s manifesto. For example, one tip is to “avoid interaction altogether.” Wikihow.com recommends that “ignoring others and remaining distant is a sure way to avoid conversation.” Well, they’re not wrong.
There should be a middle ground for small talk: 5 minutes or less of pleasant fluff-filled sentences that are so innocuous that you can’t recall them after. But, at the 5-minute mark, both conversationalists are free to shake hands and walk away. If we did it this way, there would be no more subtle slide towards the door when one participant is desperate to flee.
Bourke Accounting specialists are professional, so they know how to engage in small talk. However, Bourke Accounting specialists are also very interesting, so it won’t feel like small talk. By the time your appointment with a Bourke Accounting accountant or bookkeeper is completed, you’ll find yourself entertained, well taken care of and infinitely more financially informed than you were before. And hey, we have paintings!
Come see us any time. Our number is 502-451-8773 and don’t forget to visit our website at www.bourkeaccounting.com. See you soon!
Written by Sue H
This morning, my alarm told me that it was time to get up for a new day at Bourke Accounting. I put my feet on the floor and my toes went: Snap, Crackle, Pop. I stood up and my knees said: Bing, Bong, Blip. I bent down to kiss the dogs and my back – being very vocal this morning – announced: Crick, Chhhzzzz, Bork.
It seems that, as soon as I hit 29, my body started making funny noises. It must be said that I don’t exactly take care of myself: I don’t get enough sleep, my diet is the same as it was during my starving college days (even though I have the knowledge and resources to eat better now, I still love SpaghettiOs) and I don’t drink enough water.
So, when Bill gave me a copy of The Week with an article about Kane Tanaka, I was intrigued. Ms. Tanaka is a “Japanese great-great-grandmother [who] celebrated her 117th birthday last week” (The Week – Volume 20, Issue 958). She is now in the Guinness Book of Records as the oldest person in the world. After receiving her Guinness certificate, she planned to celebrate by “eating 100 pieces of chocolate” (Thenational.ae).
Every time someone surpasses the standard human lifespan, we ask, well, how did they do that? In Ms. Tanaka’s case, she gets up early, she spends her afternoons studying math and “challenging other care home residents to a round of Othello, her favorite board game” (Thenational.ae). However, perhaps the biggest attributing factor to her longevity might be her eating habits (the 100 chocolates was a fluke, not a habit).
In Japan, there is a dietary practice referred to as “hara hachi bu.” Roughly translated, this means, “belly 80 percent full” (Marieclaire.com). It’s a Confucian “way of life that involves eating only until you are 80 percent full each day” (Marieclaire.com). According to Bluezones.com, this process could explain why Okinawa, for example, “has a higher percentage of centenarians that anywhere else in the world.” It also doesn’t hurt that the Japanese diet is traditionally pretty healthy and high in “Omega-3 fats, known to protect against heart disease” (Thenational.ae).
The benefit of hara hachi bu is apparent when one compares the average caloric intake between a Japanese resident and, say, an American: for men, it’s the difference between 1,900 and 2,500. However, let’s not forget that when the American man hits his 40s, he’ll be “topping out at an average of 2,692” calories (Bluezones.com). Also (again brought to us by Bluezones.com), hara hachi bu stresses eating slowly, paying attention to what you’re digging into (meaning: turn off the TV/computer and actually taste your food) and using “small vessels.” If you put your food on a smaller plate, you’ll naturally eat less and, it’s suggested, that you won’t even notice you’re doing it.
We are not total health nuts at Bourke Accounting (well, Phil might be, he looks awesome), but we know a thing or two. Our Bourke Accounting practitioners are aware that, in order to give you the best in accounting and bookkeeping services, they need to be well-rested and feeling good. We’d like it if you were feeling your best, too. A Bourke Accounting specialist won’t be able to give you eternal youth, but if you allow one of our representatives to assist you with your financial issues, you may find that you sleep better at night. Hey, it’s even possible that you’ll sprout less gray hair with the knowledge that you are in very capable hands.
Come see us any time. Our number is 502-451-8773 and don’t forget to visit our website at www.bourkeaccounting.com. See you soon!
Written by Sue H.
I’m pretty sure that this has happened to you: you are attempting to buy something at the corner store. Annnnd…the cashier is more entranced by the cellphone than the live and paying customer who is standing right here. I mean, it’s great that you made it to level 400 of Candy Crush, but could you take my money, please?
At Bourke Accounting, we’re allowed to have our cellphones. During my original interview, Bill told me that, as we’re all adults, responding to a text every once in a while isn’t a big deal. But, he emphasized, if the phone usage became excessive, there was going to be a problem and we’d have to revisit the subject. That sounded fair to me. From 8-5 (8-7 during tax season!), I realize that my priority is my job and I don’t need to see funny puppy videos right now. Admittedly, I am not as pure as the driven snow over here, but so far, no one has had to smack my nose.
At this point, most workers have cellphones. I don’t have to tell you how convenient this invention is, but, as with everything, there’s a downside. For example, “19% of employers think their workers are productive for less than five hours a day and more than half believe that cellphones are to blame” (SBA.thehartford.com). In addition, according to The New York Post, a study claims that, because of electronic devices, there is “$15 billion in lost productivity” annually.
Of course, that one guy playing Minecraft in his cubicle is bad enough; what I truly hate, though, is someone else’s loud conversation that I can’t escape (this doesn’t happen at Bourke). I’m trying to work and someone else is engaged in a very personal dialogue with their doctor. No, no, I don’t want to know what the rash looks like, I don’t want to know where on your body it’s located and I sure as anything don’t want to know what colors are coming out of it. Am I the only one who wants to bring back phonebooths?
There seems to be two schools of thought regarding what to do about the cellphone issue. Cathy Hotka (of Cathy Hotka and Associates) says that, if your employees aren’t being productive, “your response isn’t to complain – just fire them” (Forbes.com). Maybe it’s my bleeding heart again, but this seems a bit harsh. However, if a worker is reprimanded more than once and the behavior remains unchanged, there might not be any other option.
The other school of thought leans toward the restriction, not banning, of cellphones. While there is no law actively stating that an employer “cannot implement a policy prohibiting cellphones” (Paycore.com), Paycor.com warns that completely banning phones “would likely decrease employee morale.” They suggest that phones be kept in lockers or drawers except during breaks. Also, they suggest setting up another phone line in the reception area that is strictly for employee emergencies in order to circumvent arguments from concerned employees with children.
Our Bourke Accounting professionals know how to stay focused. You will not be interrupted, mid-appointment, by Bill or Tim stepping out to take a friend request. When you see a Bourke Accounting expert, you will have their 100% dedication and attention. Eh, you might want to turn your phone off, though. You can always watch cute kitties doing cute things after you’ve received the best in accounting and bookkeeping services, right?
Come see us any time. Our number is 502-451-8773 and don’t forget to visit our website at www.bourkeaccounting.com. See you soon!
Written by Sue H.
I have conducted job interviews and I have hated it. In the beginning, I wanted to hire everyone who walked through the door. It took 3 bad disappointments to make me not want to hire anyone. For example, there was the guy who couldn’t figure out how to operate a cup. A drinking cup. A plain, plastic cup. He smelled like a chemical explosion occurred at his house 10 minutes before his interview but, to be fair, once I transferred his water to a mug, he got the hang of it.
I admit that I was burned out. Eventually, if someone showed up wearing a shirt and didn’t have anything too terrible on that pesky police record, they had a job. I once asked thoughtful questions. After a while, I queried: if you were a can of soup, what kind of soup would you be? Some laughed and gave me a random answer. Some stared blankly at me until I changed tact and questioned their attendance at their last job.
There’s no doubt about it – no matter what side of the table you happen to find yourself, it’s a hellacious experience. Obviously, asking about what kind of animal, soup or car one would be are stupid questions that don’t give any information about the person being interviewed. And, it must be remembered, that the person interviewed for a job is not necessarily the employee you’ll encounter 6 months down the road (I had a boss who was convinced that he had, in actuality, interviewed my classy twin sister). During interviews, we try to present ourselves as engaged, intelligent and super duper sweet. Overtime? Sure, no problem! Nooo, I don’t have an issue working a weekend here and there. We tend to agree to anything if the job looks good enough.
So, as an employer, how do you know what to ask that will really tell you something about your prospective employee? The February 2020 issue of The HR Specialist included some of their readers’ favorite interview questions. For example, “What is the biggest work disaster you’ve been a part of? What role did you play?” The person who posed this question pointed out that if you don’t get a straight answer, that tells you a lot. However, if you do get a straight answer, you “learn even more.”
Another good question, also provided to us by TheHRspecialist.com, asks “what kind of supervisor brings out your peak performance?” This is a great question because it forecasts to the employer what the prospective employee expects and wants in a boss. If the employee says that only a laidback, hippie boss will do and you happen to be an anal-retentive curmudgeon, you’re probably going to experience some friction if you continue with the hiring process. I think this question is probably the most important for both employer and employee.
Obviously, the first question to a would-be employee is: can you do the job? After that, you have to find out if your personality will match with the employee. Of course, this is difficult to ascertain within the confines of a 15-minute interview, but, come on, we all sort of know within 15 minutes if someone gets on our last nerve or not.
As someone who interviewed with both Christina and Bill, I can tell you that they’re not scary. In fact, all of our Bourke Accounting professionals are quite charming. They might ask some difficult questions, but it’s not to torture you. Like the adage that I just made up says: Tell your accountant and bookkeeper the truth or suffer the IRS. Your Bourke Accounting expert doesn’t want to cause you stress, they’re here to help, after all.
Come see us any time. Our number is 502-451-8773 and don’t forget to visit our website at www.bourkeaccounting.com. See you soon!
Written by Sue H.
I think I told you that Bill has involved his Bourke Accounting employees in a book club (the new book is Jen Sincero’s, “You Are a BadA*s”). Last week, at our meeting, the question was raised: Do you forgive easily? Most everyone answered that yes, in fact, they do forgive easily. There’s no point in staying angry when it doesn’t hurt anyone but yourself, we’re all mature here, let it go, let it go, let it go.
I just might be the resident rebel agent provocateur, but when the question was posed to me, I honestly replied that I do not forgive easily (if ever). Vanessa Delgado hurt my best friend 20 years ago – if she was on fire, I wouldn’t even…uh, put her out. Ermes Vallencio broke my heart 17 years ago; I’m still waiting for the chance to remove his. Bill tore apart one of my blogs so thoroughly, I was bleeding ink for a week.
Before I get to the touchy-feely optimistic part, let me just say that I don’t necessarily agree that forgiving easily is such a great thing. The longer one holds a grudge, the less likely one is to fall prey to another charlatan. We live and learn and, in my case, hold deep-seated grudges out of a strange self-preservation instinct.
But. Forgiveness is good for you. Psychology Today tells us that forgiving reduces “anger…depression and stress.” Also, if you’re a forgiving sort, you’ll suffer “fewer general health problems and lower incidences of the most serious illnesses – including heart disease.” Yeah, it’s not enough that you’re a sweeter person than me, now you’re healthier, too.
However, speaking for the grudge holders, it’s not really our fault. Johns Hopkins Medicine reveals that “studies have found that some people are just naturally more forgiving.” And wouldn’t you know it? These Pollyannas “tend to be more satisfied with their lives” than someone like yours truly. Ok, so you’re not just healthier, you’re happier, too.
Because I want to be healthy and happy, I did a little bit of research on how one can learn to forgive. From what I’ve read, it’s about as easy as learning to fly by flapping my arms a lot. Some sites told me esoteric stuff about making pals with my inner forgiving goddess. Right, yeah, I’m on it. Psychology Today actually had better advice. One of their concepts is that you should “acknowledge the growth you experienced as a result of what happened.” I have to say, every time that I’ve been hurt, I did learn something. Hard lessons are the ones that teach the most.
Another thing that Psychology Today emphasizes is the point of view of the person who hurt you. The author invites the reader to understand that “the other person was trying to have a need met.” Furthermore, the reader is asked to question what that need was and “why did the person go about it in such a hurtful way?” Like with everything else, once understanding and communication are established, it’s easier to look at the other person as an actual person and not some demonized version of someone we used to like.
I’m not going to learn how to forgive in one day. However, working with the crew at Bourke Accounting, maybe I can learn how to “let it go” a bit; they really are a forgiving group. Show up a little late for your appointment? Our Bourke Accounting professionals won’t make you stand in the corner. Made some bad investment decisions? Bourke Accounting experts won’t even say “I told you so,” they’ll just quietly get your financial life back on track. Bourke Accounting associates might just be The Saints of the P&L.
Come see us any time. Our number is 502-451-8773 and don’t forget to visit our website at www.bourkeaccounting.com. See you soon!
Written by Sue H.
You just got married? How nice for you! Your new husband is great; he’s smart and sweet, caring and good-looking. He’s good to your family and he’s good to your dog. All in all, he’s the total package…except for one thing: he didn’t exactly tell you how bad his debt was before you happily said, “I do.” Oh, and he also neglected to mention that he is addicted to buying expensive vintage toys (although his house should have told you that).
I don’t know why I’m surprised that there’s a proper name for this, but there is. It’s called “financial infidelity.” It’s rather self-explanatory, but this is when one partner is “making significant financial moves without the knowledge of the other” (Thesimpledollar.com). This includes everything from opening secret bank accounts, lying about paying bills to spending vast sums of money, while hiding the bills. According to NPR.org, “41% of American adults admit to” engaging in financial infidelity and it seems that the trend is on the rise.
According to an ABC7 news report, “Millennials are more likely than other age group to lie” to their significant others about their finances. These lies could be fairly harmless, such as telling partners that they have less money than they actually do. ABC7 suggests that this is because they want a “Freedom Fund,” in case the relationship fails. Obviously, it’s a lot worse when it goes the other way and there isn’t enough money in the bank to pay for a bagel, let alone pay the mortgage.
At this point, the divorce rate for financial infidelity is lower compared to the divorce rate for the more visceral type of infidelity. However, studies say that, for those affected, “76% reported that it harmed their relationship and 10% said that it resulted in divorce” (Investopedia.com). Even if the suffering spouse forgives, I would imagine it would always be a theme running through her/his head: What else don’t I know about?
Most of the literature advises that couples speak candidly with each other before their upcoming marriage regarding debt – there should only be a few surprises on the wedding night, and they should be fun ones. Logically, and in most states, “you are not legally responsible for bills racked up before getting married” (Badcredit.org). In “common law” states, “debts incurred by one spouse are usually that spouse’s debts alone” (Nolo.com). However, if you decide to open a joint account, no matter who blew the money, both spouses are liable (Incharge.org). Most experts agree that, although someone might get their feelings hurt, it’s probably for the best to maintain separate accounts and credit cards.
And since you’re already going to be hurting your intended’s feelings, Foxbusiness.com suggests a pre or postnuptial agreement to further protect yourself. It’s not very romantic, granted, but it might keep you afloat if your spouse develops a nasty gambling addiction.
Getting married is a big deal. Staying married is an even bigger deal. If you’re suffering from financial infidelity, why don’t you and your spouse meet with a Bourke Accounting pro? A Bourke Accounting specialist won’t take sides or encourage you to do weird marriage counsler-like exercises, but I wouldn’t be over-reaching when I say that a Bourke Accounting rep might be able to provide the tools to save your marriage.
Come see us any time. Our number is 502-451-8773 and don’t forget to visit our website at www.bourkeaccounting.com. See you soon!
Written by Sue H.