Archive for August 2007

How is your budget going?

I have shared before that it is EZ to win with your money.

Today, I would love to get the conversation going about YOUR budget.

Answer these two questions:

1.  What is working well?

2.  What is causing you problems?

Haven't started a budget yet?  You can take your finances to the next level by doing so!  It's EZ!  Just click on "TOOLS" at the top of the page to obtain your free easy-to-use EZ budget tools!

I am PUMPED UP to be in Dayton, Ohio this coming SATURDAY to teach the Financial Learning Experience!!!  If you are anywhere near the Dayton area, I would love to meet you there!  You can sign up for the event HERE.

Looking for additional Personal Finance Resources?  You can obtain free tools by clicking HERE and purchase books/materials by clicking HERE.

Clay Aiken vs. Celine Dion

I briefly interrupt the crusade to help others with their personal finances to bring you this story.

So, Perry called me out in his message today at NewSpring Church.

Let me set this up.  Last December, Perry revoked my man card for recommending Clay Aiken's Christmas album.  You can read his official revocation of my man card HERE.

Well, when I found out that Perry paid MONEY – he actually paid real money – to go see Celine Dion in Vegas, I had to revoke his man card.  That was in March and you can read that HERE.

   REVOKED DUE TO ==> 

Well, today, Perry decided to tell everyone at NewSpring (all 8,000 PLUS of them!!!), that he believes that my man card should never be returned due to my liking Clay Aiken and his Christmas album.

So today, I need my blog readers to answer this question:

1.  Who should have their Man Card revoked permanently?  Perry (and Celine Dion) or me (and Clay)?

By the way, you can purchase Clay's Christmas album here via Amazon.com.  All proceeds to be donated to help Perry print a false "man card" ID.  You may even want to purchase one to give to Perry! Smile

Looking for additional Personal Finance Resources?  You can obtain free tools by clicking HERE and purchase books/materials by clicking HERE.

 

Weekend Thoughts

I am pumped about the number of people who downloaded Dave Ramsey's 7 Baby Steps!

The stock market is for INVESTMENTS.  I define INVESTMENTS as money that will be not be needed for 5 years or longer.  Stop whining about the ups and downs.  IT'S GONNA HAPPEN!

Vacations that you have saved up and paid cash for are way cooler than vacations that follow you home in the form of payments to the credit card or home equity line.

Have I mentioned lately that I got to meet Dave Ramsey this week?  That I got to sit in on his show and interview him during the station breaks?  That I got to meet a lot of his team members?  That I got my world rocked watching how efficiently his team worked and how focused they are on their mission of selling HOPE?!!!!!  To Dave and his entire team, I must say it again – THANK YOU!!!!

It is my dream to be able to speak at the same conferences that Dave Ramsey is speaking at and teach the interactive budgeting lesson and debt freedom date calculation (budget and debt freedom date calculators) that I teach as part of the Financial Learning Experience.  That would absolutely rock!!!

Looking for additional Personal Finance Resources?  You can obtain free tools by clicking HERE and purchase books/materials by clicking HERE.

Sub-prime mortgage meltdown

The subprime mortgage meltdown is dominating US news right now.  Over and over, we are hearing about how horrible this situation is.  It is horrible!  BUT, anyone who has been participating in the personal finance industry has known that this was going to happen for years!

I have seen case after case of horrible home mortgage situations.  Do you realize how rare it is for people to have equity in their home?  The vast majority of homes have been purchased with $0 down.  As the market value grew, folks refused to change their spending behavior and pulled out the equity to finance more financial misbehavior.

Now that prices have declined, folks are stranded with a house where they owe more than it is worth!

The banks, investors, and homeowners are all paying the heavy price.

For folks who are debt-free and have cash on hand, it will be a good time to purchase a bargain!

Isn't it amazing how attractive debt freedom is in times of crisis?

I love debt freedom!!!!!!!!!

Looking for additional Personal Finance Resources?  You can obtain free tools by clicking HERE and purchase books/materials by clicking HERE.

Dave Ramsey could impact your life today!

I had a great time meeting Dave Ramsey this past Monday, and for the rest of the week I am sharing some thoughts about my visit there.

When Jenn and I made the decision to become debt-free in December 2002, we sought out a proven plan.  I knew that my brother in Texas had taken this finance class at his church and was just raving about it (You can read our story HERE – it was my first ever blog post).  The class was Financial Peace University.

One of the greatest things that Jenn and I learned from Dave is the 7 Baby Steps.  If you applied these seven simple steps to your life today, your life would be impacted in a great way!

Dave Ramsey's 7 Baby Steps:

1.  $1,000 in the bank to start a beginner emergency fund  (Make it $2,500 if you own a house!)  This fund helps protect you from turning to debt when the unexpected expense arises.

2.   Pay off all debt (except the house) utilizing the Debt Snowball.  You can calculate your Debt Freedom Date TODAY by clicking HERE.

3.  Save 3 to 6 months of EXPENSES for a fully-funded emergency fund  This ENSURES you stay away from debt!

4.  Invest 15% of gross income into tax-advantaged investments  10% to retire WELL; 15% to retire WELL-THY (wealthy) Smile  You might say, "I can't afford to do that!"  Sangl says, "You can't afford NOT to do that!"

5.  Fund the college savings accounts for the children  529 plans and ESA's are excellent ways to do this!  Are you funding your child's college fund?  If your child is 7 years old, you have 11 years before they go to college.  It is a KNOWN event!!!

6.  Pay off the house EARLY!!!  I love debt-freedom!

7.  Build wealth and give it all away.  You can't take it with you!

Dave has a great printable page of his 7 Baby Steps HERE.  Here's an idea – Print them out and put the date that you plan to accomplish each step by.  I did this, and I was VERY AGGRESSIVE.  Guess what?  I STILL beat the dates!!!  There is a lot to be said about FOCUSED INTENSITY!

Looking for additional Personal Finance Resources?  You can obtain free tools by clicking HERE and purchase books/materials by clicking HERE.