Emery Law Office - April 2021

Emery Law Office - April 2021

APRIL 2021

THE FINANCE TIPS I LEARNED AS A KID AND HOW THEY HELPED ME SUCCEED LESSONS FROM THE LEMONADE STAND

W hen I was in preschool, my mom ran our garage sale lemonade stand with an iron fist. She squeezed the lemonade and baked the sugar cookies, but I was supposed to take orders and make change for our customers. “Don’t tell Melissa how much she owes you — make her figure out the change,” I remember her saying to the sweet old ladies and middle-aged dads who came by. “If she counts it out wrong then let me know, and I’ll have her fix it.” My customers just wanted a drink and a treat, but they ended up giving me more than they got. Those hot mornings in the sun taught me my first lessons about personal finance. By the time I was in kindergarten, I knew my way around a cash box and could count out the coins that made up a dollar. Those lessons were only reinforced when my mom took me to other people’s garage sales. I’d strike out with a dollar in my hand to spend. The world was full of secondhand possibilities! But I quickly learned that a dollar would only go so far. If I fell in love with a book at the first garage sale and paid a quarter for it, I might not have enough for that fabulous pair of $1 sunglasses at the next stop. I had to come up with a strategy. Looking

back, delayed gratification was the second lesson garage sales taught me.

My job slinging ice cream also taught me valuable interpersonal and workplace skills. I learned about the give-and-take you need to have with your coworkers to swap shifts, and how to work side-by-side with people who have a wide range of religious beliefs, political views, and backgrounds. I also developed a strong work ethic that serves me well as an entrepreneur. Through it all, I never forgot to be thrifty. I still remember trips to DQ with my parents where I was allowed to order any flavor of sundae I wanted except for marshmallow. That’s because if I couldn’t finish my serving, my marshmallow-hating dad would polish off the last few bites. In our family, nothing ever went to waste. I’ll always be grateful to DQ, garage sales, and most of all, my parents for teaching me financial literacy. I’ve done my best to pass their wisdom on to my kids, and I hope you’re doing the same. Together, we can prepare the next generation for brighter futures. -Melissa Emery

I’ve been dwelling on those adventures since I found out April is Financial Literacy Month. I’m not a financial whiz, but I came out of my childhood with a solid foundation in financial literacy thanks to my parents and my first job. The lessons from my parents started at the lemonade stand, but they didn't stop there. My mom and dad also encouraged me to save because, as they explained, they were responsible for food, shelter, and clothing — not Guess jeans, a big fancy house, and meals out at restaurants four nights a week. When I got old enough to care about fashion, it was time to get a job! As soon as I turned 16 and got my driver’s license, I interviewed at the local Dairy Queen. I started at $4.25 an hour. It might be controversial these days, but I think getting a minimum-wage job is a great starting point for a high school kid. I learned a lot at DQ, including the value of my money. When I went shopping, I saw everything in terms of work hours. Instead of thinking, “Oh, $15 is a great price for this sweater!” I asked myself, “If my boss offered to give me this sweater instead of a paycheck for working four hours, would that be worth it?” A lot of the time my answer was “No!”

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2 SIMPLE BUDGETING STRATEGIES YOU CAN IMPLEMENT TODAY

No Spreadsheets Required

Paying off debt and saving money are the building blocks of a healthy financial life, but the statistics are dire: One-third of Americans haven’t saved a single penny for retirement, 38% of households have credit card debt, and 44% don’t have enough cash saved to cover a $400 emergency expense. If you see yourself in those numbers, there’s no better time than now to start working on healthier financial habits because April is Financial Literacy Month. Even with myriad apps available to help, budgeting can still feel intimidating. So, why not keep it simple with these two systems you can implement today? The 50-30-20 Strategy Before she was a U.S. senator, Elizabeth Warren was a tenured law professor at Harvard, specializing in bankruptcy. During that time, she published the widely acclaimed personal finance

book, “All Your Worth: The Ultimate Lifetime Money Plan.” Some 16 years later, her advice still holds up. That’s because Warren’s approach to money is simple and flexible. She suggests allocating 50% of your income to needs like housing, groceries, and utilities; 30% to wants like entertainment, vacations, and eating out; and 20% to savings, which starts by building a three-month emergency fund and then allocating savings to a retirement fund thereafter. If you have credit card debt, Warren suggests allocating that final 20% to debt repayment before you start saving. Otherwise, you’ll just backslide as interest mounts on your existing debt. If you’re able to save more than 20%, adjust the ratios accordingly. If you can’t save 20% just yet, start with less (even 1% each month adds up!) and

make a goal to increase your savings by 1% each month or quarter. The Anti-Budget Strategy If Warren’s budgeting strategy feels too complicated, try financial expert and “Afford Anything” podcast host Paula Pant’s anti-budget. Each time you get paid, skim 20% (or whatever your current savings goal is) off the top, put it in a savings or retirement account, and spend the rest however you’d like. Pant’s logic here is that if you tell yourself you’ll save “whatever’s left over at the end of the month,” you’re unlikely to save anything. Free yourself from the worry by saving first, then spend the rest guilt-free. If 20% feels like too lofty a goal, start with whatever feels doable and work to increase that by 1% each month or quarter.

(AND THEIR PAWSOME FUR BABIES) MEET OUR TEAM’S PET PARENTS!

If you’ve been reading this newsletter for a while, then you already know that Emery Law Office is a firm full of animal lovers. Melissa has her adorable Labrador, Bella, who often makes appearances in this newsletter — you might remember her love letter to her rope toys for Valentine’s Day — but she isn’t the only dog mom on staff. Since April 25 is National Pet

Maribel with her dog Yuki, 2 years old

Libby with her dog Mae Jean, 3 years old

Parents Day, we thought it was only right to introduce you to a few more of the animal owners on our team! This is just the tip of the iceberg. Enjoy their sweet faces, and if you have a cute photo of your pet, share it on our Facebook page, Facebook. com/EmeryLawOffice/ , with the caption “Emery Law National Pet Parents Day.”

Joel Franklin's

5-month-old goldendoodle Lucy

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HAVE A LAUGH!

DON’T TRAP YOUR PETS IN THE HEAT A Spring Reminder for Dog and Cat Owners

SHEET PAN CHICKEN DINNER You’ve probably heard of a one-pot meal, but how about a one-pan meal? This easy sheet pan dinner comes together in just 30 minutes without dirtying many dishes.

Last August, a police officer in Miami Township, Ohio, made headlines when she shattered the window of a parked car to rescue a puppy. It was 86 degrees, and the pup had been left alone for more than an hour. When the officer attempted to open the window with a wire, the puppy didn’t respond — so she smashed the glass to save its life. Luckily, that story had a happy ending: After lapping up some water, the puppy recovered! But not every dog is so lucky. According to a survey from the insurance company The Zebra, from 2018–2019, a total of 78 pets died from heatstroke in hot cars. As the weather heats up here in Kentucky, this should be on every pet owner’s mind! The Safe Way to Keep Your Pet in the Car The best way to keep your dog or cat safe on the road is to never leave them in the car alone. However, if you have to leave your pet behind, park in the shade and open your window so air can circulate. Leave water for your pet, and limit your time away to 5–10 minutes. Any longer than that and your pet could be at risk of heatstroke, even if it’s just 70 degrees outside. Signs of Heatstroke to Watch For If you’re worried that a dog has heatstroke, watch for warning signs like rapid panting, bright pink gums, sluggish movements, and a quick heartbeat. If you spot any of these red flags, get the dog to a cool place and offer them water right away. Cats can also get heatstroke, but their symptoms display a bit differently. Look for panting, sweaty feet, disorientation, vomiting, restlessness OR lethargy, drooling, or a bright red tongue. If you see these symptoms, get them to an air- conditioned place, offer water, and lay them on a wet towel to cool them down. How to Rescue a Pet in Danger Here in Kentucky, it’s legal to break into a hot car to save a child but not a pet. Instead, if you see a pet in danger of heatstroke, call your local Animal Control hotline or 911. They can send someone to save the animal legally.

INGREDIENTS

•

2 boneless skinless chicken breasts, cut into 1-inch chunks 2 medium sweet potatoes, cut into 1-inch chunks

• • • •

1 tbsp soy sauce 1 tbsp lemon juice

•

1 tbsp honey

1/2 tsp cayenne pepper

• • •

1 tsp salt

•

1 large head of broccoli, cut into florets

1/4 tsp pepper 2 tbsp canola oil

DIRECTIONS

1. Preheat oven to 425 F. 2. On a large baking sheet, combine chicken, sweet potatoes, salt, and pepper. Drizzle with oil and toss to coat. 3. Bake for 15 minutes. In the meantime, make the sauce by combining the soy sauce, lemon juice, honey, and cayenne pepper. 4. Remove pan from oven and use a spatula to flip the chicken and potatoes, then add broccoli florets. 5. Drizzle sauce evenly over top and return to the oven to bake for an additional 15 minutes or until chicken has an internal temperature of 165 F and vegetables are fork-tender.

Inspired by TheSpruceEats.com

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INSIDE

LESSONS FROM THE LEMONADE STAND 1

2 EASY, EFFECTIVE BUDGETING STRATEGIES

MEET OUR TEAM’S PET PARENTS! 2

A SPRING REMINDER FOR DOG AND CAT OWNERS

SHEET PAN CHICKEN DINNER 3

3 FUN EARTH DAY PROJECTS FOR FAMILIES 4

SPROUT YOUR KIDS’ IMAGINATION

WITH 3 FUN EARTH DAY PROJECTS

An Egg-cellent Planter Save those eggshells from breakfast (and the paper carton, too!) and use them to start a garden! Your little ones will enjoy planting some seeds, watering them, and watching them sprout and grow into something new. When the sprouts are big enough and it’s warm enough outside, you can plant the shell and carton directly into the ground! This easy project just requires rinsed eggshell halves, some lightly moistened potting soil, and seeds of your choosing. Note that smaller seeds, like those for herbs, lettuces, peppers, or tomatoes, work best for this project. For full instructions, visit GardenBetty.com and search “starting seeds in eggshells.” Stick With Magic Nature is a magical place. Many kids know this instinctively and often point out things adults take

With spring officially underway, April showers starting to bring May flowers, and Earth Day on April 22, now is a great time for outdoor family activities. One for the Birds Making a pine cone bird feeder is a fun and inexpensive project. In addition to creating and hanging your bird feeder, you’ll get hours of extra entertainment from watching the birds it will attract to your yard. If your kids are older, take photos of the birds or note their colors and features and look them up in a field guide or online. This craft just requires a pine cone (the bigger the better), peanut butter, and some twine or string. Top the peanut butter with “sprinkles” of mixed birdseed or small pieces of nuts and fruit to appeal to even more birds. For full instructions, visit TheSpruce.com and search “pine cone bird feeder.”

for granted or overlook, like bright-colored leaves, fun-shaped rocks, and acorn “hats.” Making a nature wand is a great way to let your kids explore their environment, whether that’s in your backyard, on a neighborhood walk, or in your favorite park. Let their imaginations run wild with what their magic wand can do! This simple project starts with a stick and masking tape. Your kids add all the extra flair by hunting for natural treasures and sticking them onto their wand. Complete instructions can be found at LaughingKidsLearn.com/nature-wands- outdoor-play .

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