Archive for May 2007

Financial Hero – Bank Lady’s Dad

Why is the Bank Lady's Dad a Financial Hero?

The other day I was waiting in an open office awaiting the return of the personal banker.  As I was sitting there, a very elderly lady came in to the bank.  She was at least 80 years old.  Even at this age, this lady had the "fire" in her eyes.  From this point in the story, I will refer to this lady as Bank Lady.

Since the line awaiting the bank tellers was at least eight people deep, Bank Lady took the opportunity to walk up and down the line of people and speak with them (her friend held her place in line).

She stopped by a lady who appeared to be dressed according to another country's customs and pleasantly asked, "Where are  you from?"

The lady said, "I'm from Kenya."

Bank Lady said, "Well, Ken ya help me?  HA HA HA HA HA HA!"

Bank Lady continued, "Seriously, though.  I've been there!"

The other lady stared at her suspiciously.

Bank Lady, full of enery, said, "When I was twelve, my daddy loaded our family up on a boat and took a trip around the world.  One of our stops was Kenya."

Bank Lady, even more alive upon recalling this great memory, continued, "We sailed out of the harbor in August and arrived back into New York in the springtime.  It was middle April."

WOW!  I sat there dumbfounded!  Bank Lady's Dad had left a legacy.  A life-long memory.  He took his family on an EIGHT MONTH TRIP AROUND THE WORLD!

That took money.  That took planning.  That took commitment.  I am still blown away.

For this, Bank Lady's Dad is an official www.JosephSangl.com FINANCIAL HERO!

Read about other www.JosephSangl.com Financial Heroes!

New Tool! Announcing the Time Budget

In November 2006, I wrote about the power of budgeting your time!  It works the same as budgeting your money!

Similarities between money and time.

  • You have limited income AND time.
  • You can only spend a dollar AND an hour once and then it is gone!
  • Planned money and planned time goes farther and is less susceptible to waste.
  • Both money and time are valuable!

I have now added two new Time Budgets to the TOOLS page.

One Time Budget is in 1/2-hour increments and the other is in 1-hour increments.

How are you spending your time?  Are you accomplishing everything you hoped for?  I highly recommend a time budget – especially for ensuring that the family spends a lot of time together.  The Sangl's have used the time budget to ensure that "Family Game Nights" and "Daddy-Daughter Date Nights" are on the schedule.  You don't want to miss out on these, and a time budget is a great to way to ensure that they happen regularly!

Have fun!

Financial Learning – Oprah’s Debt Diet

If you have been hanging around www.JosephSangl.com anytime at all, you have heard me talk about how important it is to continue learning about how to manage your finances.

I have recently completed watching Oprah's Debt Diet series.

Here are some things I took away from watching this series:

  • Americans are very disorganized
  • Spouses who do not work together are susceptible to hiding debt
  • Debt is a disease – DIS EASE – uncomfortable
  • When faced with their true financial picture, people KNOW that it is out of order!  They will make statements like, "This is eye-opening", "This is nuts!", and "Wow!"
  • There is ALWAYS a way to spend less money
  • Some people are just plain stupid with money
  • People know their real story, regardless of the facade they present
  • Folks feel stupid when it comes to money and are scared to ask for help!
  • Americans feel validated by their credit score
  • Kids don't really care about STUFF – they just want to spend time with you
  • 43% of homes purchased last year were with $0 down!

More Credit Cards Chopped!

I have always said that the first rule of holes applies really well to debt.

You know what the first rule of holes is, right?

When you are in one, STOP DIGGING! 

Well, I have had some great things happening during recent financial counseling appointments.

People have taken substantial steps to STOP DIGGING holes as they step toward Financial Freedom!

Want proof?  Here are some pictures!  A HUGE round of applause for these people who are taking action to change their lives!

  

Have you STOPPED DIGGING yet?  If not, what will it take?  A job loss?  A pay cut?  A broken car transmission?  A huge medical bill?  Bankruptcy?

If you have stopped digging, send me pictures of your chopped up credit cards (or filled in Pay-off Spectaculars – found in the TOOLS page) and I will post the pictures! 

Plans – They paid off!

Four years ago, I went to Philadelphia to attend my twin brother's "white coat ceremony" at Drexel University College of Medicine.  This ceremony started the four year journey through medical school.  For John, it was the realization of years of studying, planning, and dreaming.

Today, I find myself in Philadelphia again.  John graduates from medical school today.  The first doctor in the family.

John's plans have paid off!  It was not easy.  It was not fun all of the time.  It was not glamorous.

TODAY, however, is easy, fun, and glamorous.  Today, John Sangl becomes Dr. John D. Sangl.

Congratulations, John, on achieving a life-long dream!

Anyone out there have a dream?  A big dream?  A dream that scares you to death?  One that you can hardly share with those you care most about?  Question:  What are you doing about your dreams?