Archive - December, 2006

Financial Learning Experience!

Last night was simply amazing!!!  I had the opportunity to teach the tools that Jenn and I used to obtain financial freedom to over 350 people!  It was awesome!

I was able to swim in credit cards last night.  If anyone has a picture of that, I want it!  It was totally unplanned, but it just felt right.

I was able to show people how to calculate their debt freedom date.  You can do it as well!  I have loaded the Debt Freedom Calculator under "Tools".

I was also able to show people how to spend all of their money on paper before the month actually begins.  There is POWER in putting this plan TOGETHER BEFORE the month ever begins.  You can obtain a blank budget and start doing this for your family as well.  Just click on "Tools" above.

We took the time to write out the reasons we want to be financially successful and write down goals that we want to achieve.  For many people in the room, it was the first time that our dreams were written down on paper!  For many people, it was the first time in years that they have been able to even dream!

We calculated how much money we will need in our retirement funds to be able to retire, and once again we observed the power of compound interest.  It IS the 8th wonder of the world!  $100/month for 40 years @ 12% annual growth is $1,176,477.  The money invested is $48,000, but the value is $1,176,477.  WOW!

At the end of the Financial Learning Experience, everyone completed a survey.  I wanted to share some comments that were made because they have rocked my world and are THE REASON I do what I do.

What are you going to do as a result of what you learned tonight?

  • Do a budget plan with my husband for the 1st time in 32 years.  (WOW!) 
  • Work on our finances together
  • Change our lives
  • Start tonight 
  • Plan a financial goal tonight
  • Calculate my debt freedom date
  • Start investing
  • Share with my wife
  • Work with my husband on our finances
  • Make a budget
  • Share the information with husband and children (wow!)
  • Sign up for the 5 week class
  • Stop adding new debt

To those who attended the FLE tonight, THANK YOU!  I am so PROUD of the HUGE step you made tonight to learn more on how to improve your finances.  This was a HUGE step.  Do you know that over 690 people signed up for the FLE, but only 350 showed up.  Why?  Because it is TOUGH to face the dragons!  This is emotional.

Never stop pursuing education about this!  Don't give up after one month of budgeting.  The 1st month is the toughest.  You CAN do it.


Items that EVERY person needs in their financial plan

I believe that EVERY person needs AT A MINIMUM the following items in their financial plan: 

  • Will
  • Term-Life Insurance
  • Health Insurance
  • Disability Insurance
  • Auto Insurance
  • Homeowner's/Renter's Insurance
  • Monthly Budget
  • Debt Freedom
  • College Savings
  • Retirement Savings
  • Wedding Savings (or other large expense that you are expecting someday)
  • Teach Your Children!  Teach Others!

You could print this list out OR you could click on "TOOLS" in the top right-hand corner and print it out in MS Word format.  (OR you could click here.)

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