Budgeting For 2021

Budgeting for 2021

The financial planning process for 2021 presents an opportunity to turn the hard-earned lessons we’ve learned during the current pandemic into exercises and thought work that link your strategy to value.

It’s about going beyond the traditional way of setting quarterly and annual goals. Going beyond the business-as-usual budgeting and goal setting process where traditional inputs and approaches no longer fit.

Planning for 2021 involves being able to react quickly and efficiently to the shift the pandemic creates. It includes assumptions that account for uncertainty, holding back on some spending (as emergency funds), and incorporates flexibility and options.

The planning process is not about being fearful or anxious or with a scarcity mindset. Rather it’s about clarifying your message on why what you do matters, how people will find you, and how you’re going to get paid for the results you provide.

All while mastering your cash flow at the same time.

If you’re a business owner and need help with your financial planning process for 2021 my money coaching services can help.

You can book your free breakthrough session here:

Retirement Tips by Age

Business Man Dreaming

In your 20s:

  • Start dreaming early about what you want out of life and how you’re going to pay for it.
  • Put compound interest to work. I think of compound interest like a couple of bunnies. Where two bunnies become three bunnies, then five bunnies…then thirty bunnies and beyond!

In your 30s:

  • Increase the amount of money you’re putting towards your savings and retirement accounts (at least 15% of your income).
  • Put retirement savings away before saving for college for your kids.
  • Stay away from stupid! Wandering on a car lot to “look at” the latest expensive car will only leave you with a big bill you don’t need.
  • Be aware of lifestyle creep – where your spending grows as your income grows. It’s buying things you don’t need when you’re feeling insufficient (because you’re not!) because you think you have the money for it or the credit card to charge it on.

In your 40s:

  • Continue making your investing a priority! Be intentional with your money and look for ways to add more to your saving buckets. (Unfamiliar with savings buckets? Ask me about these during your free money breakthrough session.)
  • Continue to keep your lifestyle spending in check! Your income is likely growing more than it was in your 30s. More than ever before! This is when you can end up with the Deserving Mindset. You hear people around you saying “you deserve a nicer car” or whatever the latest expensive thing is that’ll artificially enhance your worth or image. Forget that! The Deserving Mindset only leads to a feeling of broke with more debt and less cash to your name. No thank you.

In your 50s:

  • If you haven’t started saving yet, you need to get really intentional here and get it done!
  • Be realistic about your dream. You’ll likely need to make some sacrifices at this point to realign your path for financial stability and get you where you want to go.
  • Keep your guard up for the mind’s tricks of being stupid, like investing all of your savings in high risk investments that can make you worse off when the stock market is on the downside.

In your 60s and beyond:

  • Know that it’s never too late to take control over your financial future.
  • I’ve met many people in their 60s and beyond that ask me if it’s too late for them. It’s never too late to put yourself on a better path toward financial stability.

Regardless of your age, it’s important to be intentional with your money. To make it work harder for you and your dreams.

If you’re ready to be more intentional with your money but need some expert guidance to help you get there, my private money coaching program can help.

Click here to learn more: https://summermorriscpa.com/work-with-me

PS – Thank you to one of my coaches, Chris Hogan, for infusing me with some of these tips.


Senior Woman Retirement Hammock

When you think of your retirement, do you envision yourself with a book in the backyard, or traveling the world?

Or do retirement thoughts leave you feeling anxious and avoidant because you don’t know WHAT you’ll do or HOW you’re going to pay for it all?

Either way, it’s not going to be your parents’ or grandparents’ retirement…

For prior generations, many workers were rewarded at age 65 with a gold watch, a guaranteed pension and health insurance for life. For life!

Many Americans today are seeing retirement as a big, fat mystery. And not the binge-watching Netflix type.

Those earlier generations could rely on employer-provided pensions. But many hard workers now are left to figure retirement out on their own. And without thorough guidance.

Now seriously, how many of us REALLY want to dive into something we feel little or no confidence doing right? I’m certainly not going to open the hood of my car and start rebuilding the engine!

Today’s workers are dependent on self-directed and scaled down employee retirement accounts, personal savings and Social Security benefits.

Our retirement savings also needs to last longer because many of us are living longer. Life expectantly in 1970 was 70.81 years. Today many of us are living into our eighties and nineties.

But don’t give up hope yet!

Even if you’re 40 years old and don’t have anything saved for retirement, it’s still possible to reach a $1 million retirement goal.

And it might be easier than you think.

It starts with saving $800 per month. Now if that number makes your eyes get wide keep reading…

When you have a personalized plan for your money you can gain both clarity and confidence to find your monthly $800 investment payment.

The current action to help protect your future you.

Your personalized plan can also highlight if additional income in needed to meet your goals, and how to go about achieving this.

You don’t have to struggle through this alone anymore.

I can help you.

Schedule your free money breakthrough session today and get one step closer to having a plan for your money and confidence in knowing what to do next.

Credit Reports – Debt

Credit Reports Debt

A client of mine received a call from a credit clean-up agency. For $1,500 the agency said they’d remove hard inquiries from her credit reports and other things to help boost her credit score.

I said save your money. I’ll guide you on how you can clean up anything that can be remedied.

Per Experian, “Disputing hard inquiries on your credit report involves working with the credit reporting agencies and possibly the creditor that made the inquiry. Hard inquiries can’t be removed, however, unless they’re the result of identity theft. Otherwise, they’ll have to fall off naturally, which happens after two years.”

For starters, you can request your credit reports, with the three credit reporting agencies, for free every 12 months.

Here’s where you go…

To get all three credit reports at one stop:

Or to pull each report separately, go to:




Is your credit report littered with debt you want to pay off, but you feel you’re living paycheck to paycheck already?

You’re not alone. I can help you.

Schedule a free money breakthrough session with me today to start building your personalized money plan.

Improve Your Business – Free Money Coaching Discovery Session

Feeling unappreciated by your employer? Unsatisfied with where you work, who you work for, or the size of your paycheck?

Dread Mondays because of the soul-sucking job you hate?

Do you want to be your own boss but don’t know where or how to start?

I can help you.

I left corporate life in 2014.

After much trial and error, I’ve built a business model that works. I now wake up energized and ready for the day. I love what I do, who I serve, I have control over my income and can dedicate time for friends and family.

You can too. Even in a pandemic.

I learned how to define my niche, develop profitable services, find and secure my ideal clients that pay. I overcame pricing drama to quickly scale the business to a multi six-figure income.

I’ve been helping others do the same. People like you.

No business degree needed.

From people starting a new business, to seasoned business owners hungry for systems and processes to make their life’s work more profitable and enjoyable.

If you have a goal to start or improve your own business, schedule your free money coaching discovery session today.

No BS. No pressure. Just results.

Click here to get started.

Income Tax Filing Deadlines Extended for California Wildfires

Poster depicting forest fire, vector illustration of purple plane trying to put out burning trees and grass against light brown background

Hey you – If you haven’t filed your 2019 Federal tax return, the deadline (previously extended due to COVID-19) has now been extended to December 15th due to the wildfires.

For the areas covered and other affected tax return info here is the IRS News Release.

The Four Walls Budget

2020 has been a year of mass transformation and one worthy of its own chapter in history books. Some would say a scary world. From mass layoffs, to thriving businesses shutting their doors, to kids home in Zoom school with parents juggling it all.

What if your income dropping is added to this list?

Then it’s time to glance at an image that makes you smile and begin to create your Four Walls budget.

If you can’t pay all your bills and are having a hard time making ends meet, these Four Walls should be what you spend your money on first (and in this order):

* Food
* Utilities
* Shelter
* Transportation

First things first: food. You want to ensure your family has food in their bellies. Then, keep the lights on, your water running and then a roof over your head.

And last, transportation to get to work. In you live in big city, using public transportation might be a good option.

Need help making a budget? Or want to take control of your money, instead of wondering where it all went?

Book your free money coaching session today so you can begin to transform your relationship with money. YOU get to choose how you finish this 2020.