Archive for March 2009

Attend The Financial Learning Experience ON-LINE

NewSpring Church is making the Financial Learning Experience available FREE for one night only TOMORROW (Tuesday, March 24 @ 6:30PM).

It is going to be available at the Web Campus.  We are going to have members of my team in the chat room to answer questions throughout the event.

If you are looking for help with your finances, the Financial Learning Experience is the place to start!

The event will actually be the Financial Learning Experience DVD which was released this month.  This is a great opportunity for you to check out this resource. 

Participants of the FLE will learn:

  • Develop a plan for one’s life
  • Create a budget that works
  • Eliminate debt
  • Calculate debt freedom date
  • Calculate amount needed for retirement
  • Hear about the power of compound interest 

Go invite your friends and neighbors, and we will see you at 6:30PM, Tuesday, March 24!

Recommended Spending Percentages

Chrysty asked this great question (and one that I am asked often):

Do you have a breakdown that shows what percentage of our monthly income should go towards the different categories? For example, what percentage of our money should we be spending on housing, transportation, etc.

Here is a general guideline for major spending categories.

Typical Spending Percentages
Giving 10 – 15%
Saving 10 – 15%
Housing 15 – 35% (including utilities)
House Payment < 25% (including escrowed taxes, insurance, PMI)
Transportation 10 – 20% (including gasoline, taxes, insurance, & repairs)
Food  10 – 20%
Clothing 5 – 10%
Other Debt < 10% (not including house and car payment)
Entertainment 5 – 10%
All other 5 – 10% 

Hope this helps!  If you have a question, you can ask it HERE

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SERIES: Top 5 Ways To Save Money WITHOUT Selling Anything RECAP

In a terrible economy, it is high time that the I Was Broke. Now I’m Not. team deliver ways to save money!  This five part series will share the top five ways that we see people saving lots of money.

I believe that if you apply these five items, you will save over $1,000 a year.  Don’t believe me?  Try them out!

Click the links to find out additional information about each one!

  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!

This series started out with a belief that there was a great chance that one could save $1,000 or more by pursuing these five moneysaving tips.  Tell us how you did!

Read entire series

FUNNY! Financial Learning Experience

Set The Scene

Chris Elrod is the pastor of Compass Point Church in Lakeland, Florida.  Find out more HERE.  Anyway, Chris is using Twitter to help promote the event.  He did stand-up comedy for a living for many years, and it seems he still has it in him.

Here are some of his Twitter posts (you can follow them live HERE

  • The dinosaurs passed on a Financial Learning Experience with @jsangl …and look what happened to them.
  • 8 out of 10 federal inmates never signed up for the Financial Learning Experience
  • If you don't sign up for the Financial Learning Experience God will send a plague of frogs to inhabit your yard.
  • Chuck Norris became Chuck Norris…only after he attended @jsangl 's Financial Learning Experience!!!
  • If you don't sign up for the Financial Learning Experience…the IRS will most definitely come take away your house.
  • I'm pretty sure if you miss the Financial Learning Experience @CompassPoint you'll be living in a box 2 months from now!

Hilarious!   Do you have any you would add? 

SERIES: Top 5 Ways To Save Money WITHOUT Selling Anything 5

In a terrible economy, it is high time that the I Was Broke. Now I’m Not. team deliver ways to save money!  This five part series will share the top five ways that we see people saving lots of money.

I believe that if you apply these five items, you will save over $1,000 a year.  Don’t believe me?  Try them out!

Part Five Groceries and Cash Envelopes

Cash envelopes allow me to save a TON of money.  How?  I have a written spending plan that my bride and I prepare every month.  In this written plan there are several items that I tend to be impulsive with.  Groceries, Dining Out, Clothing, Entertainment, and Spending Money are the top five impulsive categories for me (can I get a witness?).  To control my impulsiveness, we pull that money out in cash.  We stow away the debit card and only allow cash to be used to purchase items in our impulsive categories.

This one move saved us over $200 a month in groceries alone!  You can read more about how to start with cash envelopes HERE.

You can also use coupons to save a ton on groceries.  In fact, my team has prepared an entire section of money saving tips for groceries under the Next Steps tab.  You can check it out HERE.