Archive - October, 2007

A Debt Pay-off Spectacular In Action!

Observed:  Credit Card Debt Pay-Off Spectacular in action!

This PUMPS me up!!!  I LOVE it when I see people attacking their debt and making it LEAVE!

Why?  Because I know what people are able to do when they are free of debt!  I know the amount of stress that exits a person's life.  I know that they are on their way to being free to do exactly what they have been put on this earth to do!

Anyone else want to send me a picture of their Debt Pay-Off Spectacular or Savings Spectacular in action?  Send it in an e-mail to (You will have to type in the address - if I typed it in I would receive piles of SPAM!)

I will publish the pictures in a blog post!

Want to get your own Debt Pay-Off or Savings Spectacular?  Click HERE

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The Crusade Went To Easley, SC

The crusade went to Easley, SC this weekend!

Yesterday, I had the opportunity to speak at 5 Point Fellowship Church, pastored by Dean Herman.  I was able to teach as part of the "I Screwed Up" series, and this Sunday was the "I Screwed Up ...  Financially" segment.

I love being able to teach on personal finances!  Why?  Because I once was broke, and now I am not!  Because I once had an average savings balance of $4.13, and every single time something broke down, I experienced a financial emergency!

I was able to get out of debt in 14 months, and I KNOW that you can accomplish debt freedom too!

Anyway, after speaking at the 9:00AM and 10:30AM services, I was able to teach the Financial Learning Experience in the evening.  I LOVE teaching the FLE!!!  During the FLE, I teach the exact tools that I used to become debt free.  We also calculate how much money will be needed to fund our retirement and how compound interest can help you get there more quickly!

Here is what is so awesome.  I was able to teach the FLE at 5 Point Fellowship back in January.  Today, I had multiple people coming up to me to tell me the changes they have been able to make in the last 9 months.

Here is a sampling of the stories.  One couple has paid off a car, paid off the VISA, and went on a couple of vacations with cash!  Another couple calculated their debt freedom date and are WAY AHEAD of schedule!  Another couple has written their dreams on paper and are putting together a plan that will allow them to achieve them - one of their dreams is to give each of their children a paid-for house to start them off in life.  WOW!

I am SO GLAD that I fired myself from Corporate America.  I am SO GLAD that I have been given the privilege to crusade and help others accomplish far more than they ever thought possible with their personal finances!

Interested in having me speak/teach at your church or organization?  E-mail me HERE!

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Debt Freedom!

For those of you who have calculated your Debt Freedom Date, you know exactly when you can expect to be debt-free!

Today, I want to share some thoughts I had as I was journeying to become debt-free from Dec 2002 to February 2004 (total of 14 months).

  •  I am THROUGH with debt!!!  My heart had changed!
  • 19 months seems too long - I want out of debt faster!  Guess what?  As we got closer to debt freedom, we were willing to make a few more sacrifices to get there!
  • I wonder what it will be like to be debt-free?  It is EVEN BETTER than I imagined!
  • Will I really be able to stick with this?  ABSOLUTELY - I was THROUGH with debt!
  • I have got to tell people about this!  Little did I know I would be crusading about this full-time a mere four years later!
  • My friends and family think I am a little too crazy about this finance stuff.  That's OK.  I'm not broke anymore!!!
  • Will I really have more than $4.13 in the bank account someday?  ABSOLUTELY!
  • Will I really be able to pay cash for a car someday?  ABSOLUTELY!
  • Will I really be 100% debt-free including the house someday?  ABSOLUTELY!
  • Will I really be a millionaire?  ABSOLUTELY!

For those of you on the crusade - STICK TO IT!  I want you to be able to accomplish the hopes and dreams that God has given you!  I want you to be able to do EXACTLY what God has put you on this Earth to do - REGARDLESS of the income potential!  You can do this!!!!

I believe in you!

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As of today, there are 16 ING Direct on-line savings account links left that will give you $25 FREE if you open an account with at least $250.  NO MORE "FREE $25 LINKS LEFT" - BUT you can still get a great account that is paying 4.20% interest with a minimum balance of $1 by clicking the link at the top right of this page!

“Overpriced College Degrees” – A rant by Joseph Sangl

I am SO sick of hearing story after story of people who obtained a worthless college degree and have nothing but $60,000 in student loan debt to show for it!  I am even more sick of hearing stories of people who did not even obtain the degree and have piles of student loan debt to show for it!

As a person who teaches about personal finances to thousands and having counseled hundreds of people one-on-one, I see situations of immense student loan debt nearly every single day!!!

Here is how the situation unfolds.  The individual graduates high school and really has no clue about what they want to do with their life.  They end up attending a very expensive private school and obtain a degree that has low market demand.

How did they pay for the education?  They financed it!!!  Now they are in a position of huge debt and have a degree that won't support the debt.  Even worse, they don't even finish the degree!

I know that the private school education may be prestigious, but there are very few instances where the private school education is any better than a great state school!  And the prices are way better at the state school!

Consider this.  I attended Purdue University and received a fantastic mechanical engineering degree.  This degree is in great market demand, AND it was VERY CHEAP since Purdue is a state school!  I then studied at Clemson University and received my MBA.  This degree is in great market demand, AND it was VERY CHEAP since Clemson is also a state school.

I had the option of attending a private school for my engineering education.  Even with the incredible amount of "scholarship" offers, I would have had to pay TWICE the amount of full-price at Purdue!  For a private school MBA, I would have had to pay FOUR to EIGHT TIMES the amount of full-price at Clemson!

Listen, I want you to get an education.  I want you to get that degree!  But please consider the overall cost of the degree!

PLEASE!  PLEASE!  PLEASE!  PLEASE!

PS - Student Loan Debt is not bankruptable.  You WILL have to pay it back someday.

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Pay-Off/Savings Spectaculars

With the post of the Sangl Family Home Pay-Off Spectacular, I have been receiving some more ideas for Pay-Off and Saving Spectaculars.

Some ideas that I have received are:

  • Disney Savings Spectacular
  • Beach Savings Spectacular
  • Camper Pay-Off and Saving Spectacular
  • Boat Pay-Off and Saving Spectacular
  • Tractor Pay-Off and Saving Spectacular

These are all GREAT ideas!  Do you have any more?  I'll take any and all ideas you submit!

By the way, I want to laugh out loud at least once.  So please ensure that some funny ones are submitted!

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Marching To Debt Freedom – Couple #2

You may remember reading a few weeks ago that www.JosephSangl.com will be featuring inspiring stories of people who are marching their way out of debt.

Today, www.JosephSangl.com welcomes the second couple!

Introduction

This couple has announced to their debt that they are breaking up with it.  Their friendship with debt has waned and frankly, it's time for them to cut debt out of the picture.

This young married couple is ready for DEBT FREEDOM!

Here is what their Debt Freedom Date Calculation looks like. 

What went well this month ...

This was our first month using our cash envelopes and everything went very well.  They really made us stop and think...do I really need this?.  Therefore, we did not spend money on unnecessary things like we normally do.  It also made us realize how much "unconscious" spending we were doing.  Our money was more precious to us, and we wanted to keep it as long as possible and spend it wisely.

 
I have to say, it was kind of fun.  My husband and I would buy each other things with our "own" money, which made those moments more special.  I knew he only had so much to spend and the fact that he chose to spend a little on me was sweet.  Anyway,  if you haven't tried the "cash envelopes", you should.  It was an eye opening experience that we are going to continue...and enjoy.
 
Oh yeah, we did not accumulate any more debt this month!!!!  That was one of the greatest benefits to the cash envelopes and Joe Sangl's plan.
 
Challenges and struggles for this month ...
 
Our greatest challenge this month was not preparing for all of our "known upcoming expenses".  There were a few things that came up that we had forgotten about or just didn't know were coming.  Luckily for us, we had a little extra money come in that was not added to our income.  It was our saving grace.  Otherwise, we would have put more money on the credit card.  So what I learned from this is to start paying attention to the little things that cost money; haircuts, gas and food for upcoming trips, shots and boarding for the dogs & seasonal things like swimming pool covers and lawn maintenance.  But, I know the more we stick to the plan, the more aware we will become. 
 
One more small challenge we had was making our cash envelope last all the way to the end of the month.  We both had 3 or 4 days left and all the cash was gone, which meant no more spending.
 
Sangl Says ...
 
This is the second month that couple #2 has had a detailed plan for every dollar.  INCOME - OUTGO = EXACTLY ZERO!!!  It is awesome to see you guys get FIRED UP about achieving debt freedom!  You are TELLING your money where to go instead of wondering where it went.  As a result, you guys are going to achieve Debt Freedom way sooner than 42.9 months and will be able to GIVE more than you ever dreamed, SAVE far more than you imagined, and SPEND more than ever before.  All because one day you said "ENOUGH!!!!"!
 
And you say that the cash envelopes were "kind of fun".  You are exactly right!  For those of you making fun of couple 2 and their cash envelopes, watch how well it allows them to follow their spending plan and get out of debt much sooner!
 
I'm proud of you guys!
 
Readers ...  Would you write some notes of encouragement for couple 2 as they embark on their race toward debt freedom?
 

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Marching To Debt Freedom – Couple #1

You may remember reading a few weeks ago that www.JosephSangl.com will be featuring inspiring stories of people who are marching their way out of debt.

Today, www.JosephSangl.com welcomes the first couple.

Introduction

This first couple has HAD IT with debt and are just starting out on their path toward Debt Freedom!  This couple has been married for many years and have two children.

Here is what their Debt Freedom Date Calculation looks like.


What went well this month ...

Just the very act of looking where every single penny comes and goes is beneficial. We are pumped about doing this for our family.We are using cash envelopes for groceries and implementing the budget.

Challenges and struggles for this month ... 

I am in one of those months where money is tight because I have not planned ahead. I am cutting spending by carving some fat out of the things we thought we needed but really don't. I am setting aside money in an ING savings account for the escrow fund. I am getting to my 2500 emergency fund ASAP. I am then going to whale away at the debt.

Sangl Says ...

This is the FIRST MONTH that couple #1 has a detailed plan for every single dollar they earn.  INCOME - OUTGO = EXACTLY ZERO!!!  Couple #1 - I am proud of you, and I can't WAIT to celebrate your achievement of securing Debt Freedom!

The AWESOME thing is that TWO of your debts will be leaving THIS MONTH!!!!  Next month, you will be able to apply those payments to the Wells Fargo Credit Card! 

Readers - Would you write some notes of encouragement for this couple as they step out of debt together?

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NEW FEATURE!!! Sangl Home Pay-Off Spectacular – October 2007

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INTRODUCING A NEW FEATURE OF www.JosephSangl.com ...

Every month there will be an update of Joe & Jenn's Home Pay-Off Spectacular!  The first update is TODAY!

I have had ENOUGH of the stupid house payments!

While I could pull money out of my investments and pay off the mortgage, the penalties are too great (vast majority of investments are in tax-advantaged retirement accounts).

So Jenn and I have shook hands and made an agreement that the house payments will be gone within four years.  You guys will all get to watch the mortgage leave by watching the "Sangl Family Home Pay-Off Spectacular" turn green!

With that, here is the update!

Total Squares:  2,426

Paid-For Squares:  658

Squares Remaining:  1,768


Who else is going to jump on the home pay-off train with me?  If you don't know how to put together your own pay-off spectacular, send me a rough sketch of your house, and I will put one together for you!  Let's hold each other accountable and become 100% debt-free!

Get your own Pay-Off Spectacular HERE.

Already debt-free?  Get your own SAVINGS Spectaculars HERE.

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ANNOUNCEMENT: New Features!

I am PUMPED about some new features and news that will be released on www.JosephSangl.com this week!

Here are the new features:

  • The Sangl Family Home Pay-Off Spectacular  You may have noticed the new icon that has shown up on the sidebar.  Well, this week you will see what that is all about!
  • Marching Toward Debt Freedom  Ever felt like you are walking out of debt all by yourself?  You are NOT!  Starting this week, you will be introduced to folks who are done with debt and are going to be sharing their journeys on a monthly basis!

The news?   Well, that's for another post!

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Giving – Part 3

In this series of posts, I am sharing:

Today's Focus

  • The results of our giving

Giving is by far the most rewarding thing that Jenn and I get to do!  There is NOTHING like being able to bless someone or an organization with a financial gift or our time.

Here are some of the rewards that we have enjoyed as a result of giving.

  • Seeing lives changed at our church.  We have seen over 1,000 people commit their lives to Jesus in the past year.  We have seen over 1,000 people baptized and publicly proclaim Jesus as their Lord - in just the past year.  This happened in part because of our giving.  Someone once asked the question, "How much ministry can be accomplished for $100?"  The response was so right, "About $100 worth!"  God has given a huge vision to NewSpring Church.  I LOVE being a part of that!
  • Having a great spending plan that works!   "What?!!!". you might ask.  Listen, Jenn and I could not give like we do without having a great spending plan that follows the magic formula INCOME - OUTGO = EXACTLY ZERO.  By having a great spending plan, we are able to KNOW that we can give AND save AND spend money.  It is awesome!!!  Don't have a good spending plan?  You can start yours right now by clicking TOOLS at the top of the page!
  • Seeing Purdue University grow.  I spent four years there having my world rocked!  Jenn spent five years there.  It is awesome to go back and see all of the new buildings and KNOW that they are grooming phenomenal talent for generations to come!
  • Seeing the reports from the missionaries.  I actually place their reports in my investing binder.  Why?  Because this is our investment into leaving a legacy that will last far beyond us!
  • Teaching our daughter the power of giving!  This is an awesome way to teach your children a lifetime of learning!  Melea clearly understands that we are giving to causes that we really believe in.
  • Knowing that we have been a part of something great.  NewSpring Church, Nappanee Missionary Church, Purdue University, Missionaries ...  The list goes on.  We have been a part of some great things!  What better way to live life?  To be able to GIVE, SAVE, and SPEND is to be live a FULL, RICH LIFE!!!

What can I say?  We love giving to worthy causes!  When you have been as blessed as Jenn and I have been, you can't help but be compelled to give!

Read the rest of the series

Giving – Part 2

In this series of posts, I am sharing:

Today's Focus

  • How we decided the amount to give

For Jenn and me, this is extremely relevant right now.  Our church is taking a HUGE STEP to reach more people with the life-changing message of Jesus Christ.  By HUGE, I mean $20,000,000.  Yes, that is a "20" with SIX zeros behind it!

Let me put this in perspective.  Jenn and I were part of the original group of 15 who launched NewSpring.  That is "15" with NO zeros behind it! :)  That was only 7 years ago!  Now, we are in a great facility that has allowed us to grow to over 8,000 in attendance and fill up four services per Sunday!  BUT, our children's area is overloaded.  The Youth have met in multiple off-campus locations for seven years.  It is time that they had a state-of-the-art facility on campus.  It is time to grow to Greenville.

God is moving, and it is TIME to act.  It only takes $20,000,000 to make the vision a reality.  It takes a BIG GOD to make this happen, and we are confident that HE will make it happen!

So Jenn and I are convinced that we must STEP UP and give above and beyond our normal giving of tithes and offering.

This is the first time that we will be a part of such a thing.  It has been a very interesting conversation for Jenn and me!

Let me share some thoughts that I have had as we went through the process of determining our gift to this effort (NOTE:  SOME of these thoughts are extremely selfish!)

  • I LOVE being a part of a church with HUGE vision and a passion 100% directed toward Jesus Christ.
  • I already tithe, why should I have to give even more?!
  • I want to pay off my house NOW.  Not tomorrow and not in three years and not in five years.  NOW!
  • My daughter will grow up in the new children's facility and youth building!  How awesome it will be to see her grow up in these facilities!  She will have a church that she will LOVE to invite friends to.  I never invited friends to my church when I was growing up!
  • God is in control.  I am not.  He is the owner.  I am the manager.  A good manager seeks to reap a profit for his manager!  I want to reap a record crop!
  • There are people who do not even give one dime to our church.  If they all gave as the Bible commands Christ-followers to, there would be no need for a capital campaign.
  • I want my gift to make a difference.
  • My gift will be a very small percentage of the $20,000,000.  I pray that some day I will have the ability to give a large percentage gift toward God's vision.

At the end of the day, here is how we decided how much to give to NewSpring's GameTime.

  1. We sought God through much prayer.  In Exodus 25:2, it says that the offering is to be given by each man whose heart prompts him to give.
  2. Jenn and I had countless conversations about the gift.  I believe that this discussion helped cement our commitment to the vision God has given to NewSpring.  It also involved discussions with our daughter.  She understands clearly that we are making a financial gift to this ministry!
  3. We both have a peace about the financial gift we are making.  Now, I am a finance guy.  I love seeing how numbers fit in the budget.  This number does NOT fit into the budget!  INCOME - OUTGO does NOT equal EXACTLY ZERO if we make this a monthly contribution!  That might scare you to death, but it does not scare me.  Why?  I know that God will provide the money.  He has in the past, and He will now.  Do you know why I know this?  Because if HE gave me the number to commit to, He will provide the necessary resources for my to fulfill my commitment.

So, this coming Sunday, Jenn and I will make our commitment.  We can't wait to see the entire church come forward (by the thousands) and commit TOGETHER as a unified body of Christ to be a part of God's vision for NewSpring.

This Sunday ...    LIVES    WILL    BE    CHANGED.

Read the series

Giving – Part 1

At NewSpring Church, we are in the midst of a huge move of God!  In fact, the vision God has given to Perry blows my mind!

You can read about the next steps of NewSpring HERE.

There has been loads of prayer, discussion, and dialogue and NOW the time is here for us to STEP UP.  All of the talk is over.  It is time to give in order to see this vision accomplished.  Next Sunday, October 7, will be the time for us to give!

This entire process has caused me to ask the question "Why do I give?" at an entirely different level.

So in this series, I will be sharing the process that Jenn and I have followed to determine what we will give and the reasons we give.

Today's Focus

  • How we determine who we give to
  • The reasons Jenn and I give

Jenn and I give to many organizations.  Here are some.

1.  We support our local church with at least 10% of our gross income.  As Christ-followers, we are commanded to bring the whole tithe (10% of gross income) to the church.  I know this is hard for some folks to commit to, but I am so BLESSED!  I cannot imagine NOT giving at least 10%!!!  Why do I give to my local church?  Let me count the ways!

  • Because NewSpring Church is committed to reaching people with the life-changing message of Jesus Christ!
  • Because people give to NewSpring Church, I am able to offer one-on-one financial counseling for FREE to anyone in the community - regardless of their attendance at NewSpring.
  • Because people give to NewSpring Church, I am able to carry this crusade to the nations!
  • Because people give to NewSpring Church, we are able to provide counseling for troubled marriages and those suffering through addiction.
  • Because I believe that the local church is the hope of the world!

2.  We support missionaries.  Why?

  • Because they are carrying this great message of HOPE to those who have never heard it!
  • Because we believe in these two missionaries and the mission they are on!  As a result, Jenn and I support their efforts financially.

3.  We support Purdue University.  Why?

  • Because this fantastic school provided a springboard for us to lead productive, meaningful lives!
  • Because Jenn and I met at this school our first weekend there as freshman!  We went through four years of school together at Purdue, and it was AWESOME!  It was the best four-year vacation I have ever taken!
  • Their football team is GREAT!

If I were to boil down the reasons we give, this would be the short list.

  1. The cause is visionary, far-reaching, effective, and challenging
  2. The cause has a track record of results
  3. I believe in the mission of each cause and the leaders of it
  4. We are just managers of our money.  God is the owner.  We have been blessed beyond what we ever deserve, and Jenn and I would rather spend money toward leaving a legacy beyond ourselves and our lives.

The Bible says "... where your treasure is, there your heart will be also"

Question of the Day:  What cause do you believe in?  Why not support it financially?

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Read this series of posts on giving

My Daughter Has Joined The Crusade!

I was motoring through the NewSpring offices today and stopped short at my wife's cubicle.  On the outside of Jenn's cube, she has some Dave Ramsey stickers that say:

  • Live like no one else.
  • Debt is normal.  Be weird.
  • Act your wage!
  • Debt free & lovin' it!

Well, there was a surprise one there this morning.

The new one was put there by my daughter!  I want to CRY!  Melea is only seven years old, and SHE GETS IT!

Have YOU gotten it yet?

A new series on GIVING starts tomorrow at www.JosephSangl.com!

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Reflections On My First Year at NewSpring Church

Wow!  I can't believe that it has been one year already!

It was one year ago that Jenn, Melea, and I packed all of our stuff up into a 26' box truck and a 10' U-Haul trailer and moved from Indiana to South Carolina to join the ministry team at NewSpring Church.

It doesn't make sense for someone to take a massive paycut, move 600 miles away, move away from family and friends, self-pack all their earthly possessions and go to work for a church.  It doesn't make sense unless God is in it!

And in it He has been!  This crusade has been wildly blessed!  My world has been rocked!

Let me share some statistics.

In the past year, the following has taken place.

  • I have been to develop a financial counseling process and provide one-on-one financial counseling to 433 people!  Many more folks will be counseled this year!
  • I have completed my first book (headed to the publisher within the month)  Many more are on the way!
  • I have been able to develop the Financial Learning Experience and teach it seven different times to over 850 people!  Many more are on the way!
  • I have been able to develop the 5-week long Financial Freedom Class and teach it five different times to over 400 people!  Many more are on the way - including as a home group/small group study!
  • I have been able to serve on the NewSpring Church staff and see over one thousand people commit their lives to Jesus Christ and see over one thousand people baptized (my daughter being one of them!)!  Thank you PERRY and PAUL (no blog!) and the entire leadership team for giving me the opportunity to be part of this unbelievable thing that God is doing!
  • I was able to meet and interview my HERO - Dave Ramsey - There is NOTHING like meeting your hero and realizing that they are even cooler than you thought them to be!  Dave - THANK YOU for the opportunity!  I want the opportunity to teach alongside you some day!
  • I have been able to see marriages restored, lives changed, debt freedom achieved, and relationships healed simply by teaching folks to manage money God's way!

God has rocked this ministry and this crusade.  I CANNOT WAIT to see what happens next.  By the way, He has shown me several of the next steps, and it is unbelievable!

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