Every month there will be an update of Joe & Jenn’s Home Pay-Off Spectacular!

Here’s this month’s update!

Total Squares:  2,426

Paid-For Squares:  863 865

Squares Remaining:  1563 1561

% of House Owned By The Sangl’s:  35.6% 35.7%

% of House Owned By Wells Fargo:  64.4% 64.3%

Here is the updated “Sangl Home Pay-Off Spectacular”

A miserable two squares paid off this month.  We are debating major options on this home pay-off plan.  Options that may eliminate the mortgage entirely …   Things that continue to make you all say, “I wonder what Sangl has cookin’?”  Stay tuned …

How are you doing on YOUR house payoff spectacular?  If you do not have one, you can get one here => Pay Off Spectacular – House.

Read previous Sangl Home Pay-Off Spectacular Updates

I am PUMPED about our first ever Financial Coaching Experience training that we are going to be offering starting in September!  To be considered for this training, it is required that you participate in our on-line information meeting TUESDAY NIGHT (8/31/2010).

We will be covering the highlights of the training, participation requirements as well as registration and cost information.

Space is limited, so register HERE to reserve your spot.

There are times that I am just overwhelmed with gratefulness.  Right now is one of those times.

You see, my life over the past 20 months has had the incredible potential to become a financial disaster.  Here are the issues Jenn and I have faced.

• January 2009:  One heat pump failed.  The other failed four months later.  Cost: $9,500
• January 2009: Attempted In-vitro Fertilization (IVF) after nine years trying for a second child.    Cost: $18,500
• June 2009: Started “I Was Broke. Now I’m Not.” as a full-time business Cost: Entire Salary PLUS had to obtain individual health insurance
• June 2009: Discovered that Jenn was pregnant (God works in wondrous ways!) – but we had been unable to obtain full maternity coverage – but we had to pay for our insurance plan  Cost: $4,000
  
• February 2010: Keaton Joseph Sangl arrives safe and sound  Cost: $13,500

Add those costs up.  It adds up to $45,500!!!

Why am I grateful?  Because we have not incurred ONE DOLLAR OF DEBT as a result of these MAJOR EXPENSES!!!

You want to know why I am so passionate about the financial principles I teach?  That’s why!!!  Because we gave. Because we saved.  Because we have had a plan.  Because we have been diligent, we have been able to avert COMPLETE FINANCIAL DISASTER!  We are LIVING THIS.  This is more than just some “good idea.”  This is a “way of life.”

Think about it.  I teach personal finances for a living.  Where do you think I will be tested the most?  In the management of my own money!

The bank saving accounts are definitely smaller.  I am still blessed.  It has been an emotional 20 months.  I am still blessed.

And our opportunities to serve people and help them become financially free are greater and more numerous than ever!  The passion I have for this crusade is hotter than ever.

I am so blessed.

QUESTION OF THE YEAR: Could you absorb a $40,000+ financial penalty over a period of 20 months and still avoid debt and be able to give throughout it all?

By a miracle of God Himself, I can answer that question with a resounding, “YES!”

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As I have traveled the country speaking and teaching about personal finances, I am continually reminded that this crusade has A LOT of work to do!  Many people just do not have a clue about how to win with their money.  It was not taught to them in school (and they may not have paid attention even if it were), they have not taken any classes since, and time is so limited that the last thing they want to do is to use the one spare moment they do have to read about money.  BUT if one does not take control, money will usually always be a problem and a source of endless frustration.  It can even cause lasting injuries to relationships.

With that said, I want to share what I believe are the Top 5 Things People LACK In Their Financial Plan:

1. Monthly Written Spending Plan The old adage is true: “Fail to plan. Plan to fail!”
2. A “Get Out Of Debt!” Plan Debt robs us of our ability to go do EXACTLY what we have been put on earth to do!
3. A Written Will Statistics show that nearly sixty percent of people do not have a written will!  If you do not prepare a legal will, the government will decide who gets what.
4. Life Insurance Again, statistics show that a majority of people who have dependents relying upon their income to sustain their lifestyle do not have adequate life insurance.  Term life insurance is just too cheap for this to happen!
5. Health Insurance We know that it is EXPENSIVE, but it is way more expensive to not have it!

I hope that these help you take your finances to the next level!  Would you add anything to my list?

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From time to time, my family revisits ways that we can save money.  Invariably, we find a way to save a lot.  Recently, we completely cut off cable to eliminate that bill.  I haven’t missed it yet.  I might start missing it when college football starts up, but I certainly don’t miss the cable bill!

Our team has put together a list of the Top 5 Ways To Save Money – Without Selling Anything! This list has certainly impacted our money in a huge way.  Hopefully, this list will help you save a ton of money too!

1. Auto/Home Insurance The average person saves $500 – $600 per year just by obtaining new quotes!
2. Life Insurance Chances are high that you are overpaying!  Find out more and obtain instant quotes (without talking to anyone!).
3. Zero-Percent Balance Transfer Credit Cards Move your high interest debt to zero percent interest debt!
4. On-Line Savings Accounts On-line banks pay five to eight times the interest that most local banks pay.
5. Groceries Cash envelopes and coupons really work!

In fact, I would LOVE to hear how much money you save by doing these five things!

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The IWBNIN Team is FIRED UP about the opportunity to train Financial Coaches on-line for the first time ever!  We travel around the nation equipping leaders to become 1-on-1 financial coaches, and it is just EXCITING to have the opportunity to train individuals who we would otherwise have no way of meeting or equipping!

The actual training begins in September, but we are hosting an on-line INFORMATIONAL MEETING on Tuesday, August 31st, at 7:00PM Eastern Time where we will cover the details of this training.  To participate in this meeting, you need to sign up by filling out the application below .  If you can’t see the form, click HERE to access it directly on the web.

FUNDED and FREE was written to help church leaders FUND their vision and FREE themselves of financial worry!  This book contains 50 chapters of practical and relevant teaching regarding the topics of Giving, Budgeting, Capital Campaigns, Personal Finances, and Church Financial Management.

Since we are in a festive “National Holiday” mood, we are excited to offer Chapter One absolutely free – “Understand 5 Reasons People Give” – which you can obtain HERE.

It is our prayer that this resource will help thousands of leaders fund their vision. In fact, we are SO FIRED UP that we are also offering an unbelievable one-day only sale TODAY, August 18th, on National “Funded and Free” Day – FIVE BOOKS for $50 – that is 50% off – by following THIS LINK!

If you are a church leader, grab some copies for your team.   If you are not a church leader, grab some copies for your church leaders!

Don’t miss your chance to take advantage of this special National Holiday sale!

One of the most compelling reasons for why we do what we do here at IWBNIN is the SOARING US National Debt.  Every month, we are going to highlight (lowlight) the increase to OUR national debt.  Then, we’re going to challenge everyone to do something about it.

National Debt as of 8/17/2010

$13,336,962,180,893

By the time this post was completed, the national debt increased by an additional $1 million.

Your thoughts?

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I am PUMPED that my new book for church leaders, Funded And Free, has released ON TIME – TODAY!

I co-wrote this book with Casey Graham (his blog is HERE) because he shares my passion for helping church leaders fund their vision!  This book was written to “help church leaders FUND their vision and FREE themselves from financial worry!”

Perhaps you can pick up a copy for your church leadership team TODAY!

I’m PUMPED!

Over the past 21 months, my family has participated in a wild ride with health insurance.  The experience has been enlightening, incredibly frustrating, annoying, confusing and intimidating.  Can I get an “Amen!” and a witness?!?!  In this series on health insurance, I am going to share my experience AND some helpful tips on saving money on health insurance.

Part Five The COST of not carrying health insurance

This series started out with me sharing my story of dropping maternity insurance coverage only to discover 16 days later that our baby boy was already on the way.  I got the joy of paying about $7,500 extra.

There are several COSTS to not carrying health insurance, some are obvious – others not so much:

• Monetary penalty This is obvious, of course.  I only had to pay $7,500 extra for my debacle.    I say “only” because I have seen SO MUCH WORSE!  A heart attack costs many multiples of what I had to pay.  Accidents do happen.  My twin brother is an ER doc – and every single day he sees people that are experiencing a life-altering health care crisis.  With a 100% mortality rate, I would say the chances of you or a family member experiencing a large health-care bill in the next ten years is very high.
• Emotional Stress I meet with people in 1-on-1 financial coaching session all of the time.  One of most common causes of unbelievable stress is unpaid medical bills that were incurred without insurance coverage.  In some cases, the stress has become so great that people begin to lose hope and despair of ever winning with their finances – and it ALL could have been avoided if they had just carried health insurance.
• Avoid necessary care/Delay visits to doctor When a person does not carry insurance (or do not have money to cover their deductible), they will avoid going to the doctor or emergency room.  Now, in some cases, this is a good thing.  The financial penalty has reduced the number of people going to the doctor for a hangnail.  But in many other cases, people have avoided a doctor’s care for necessary and sometimes urgent care.

What are some other costs you can think of that are a result of NOT carrying health insurance?

Read the entire series

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