Archive for March 2009

SERIES: Top 5 Ways To Save Money WITHOUT Selling Anything 4

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 Four On-Line Savings Accounts

Do you have money in your savings account?  If not, it should by your TOP PRIORITY.  $1,000 as a minimum or $2,500 if you have kids or a house.  I repeat – this should be your TOP PRIORITY!

For those with money in savings, how much interest is your bank paying you?  If it is a local bank, it is likely that the interest rate is very, very, very low (close to 0%).  On-line banks pay much higher interest because they do not have to pay the costs of maintaining local branches (people, buildings, etc).  These on-line banks pay around 5X – 8X the national savings interest rates of other banks.  I hold all of my savings in on-line banks and have done so for over two years now.  They are FDIC-insured and are very easy to use.

There are several excellent on-line banks. Click HERE to see the on-line banks I use or recommend.

The bottom line is that your money should make you money – the most money possible.  My on-line banks allow me to do that for all money that I plan on using within the next five years.

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New Class: Using Social Media To Boost Your Business

I am passionate about helping small businesses with the "business side" of doing business.  There are so many people who are passionate about the work they do so they start a business doing it.  Then they find out that there are so many "joy-robbing" aspects of operating a business.

Payroll.  Taxes.  Marketing.  Quoting.  Selling.  Employees.  Time.  Family vs. Work balance.

It can wear a person out.   As a small business owner myself and as the son of a small business owner, I am passionate about equipping others with PRACTICAL and RELEVANT tools that can help businesses win with money.

SO … I am teaching a multi-session class focused on small businesses and the "business-side" of doing business.

The next class is on Wednesday morning, 4/1/2009 (no foolin'!), from 8:30AM – 10:30AM. 

For this installment, I am partnering with Bobby Retew of View Digital Media to teach about social media in a class called:

Using Social Media To Boost Your Business

Participants will learn:

  • What is social media?
  • Review key social media companies/methods including Twitter, Facebook, LinkedIn, Blogs, and Websites
  • Review practical examples of how these tools have been utilized to grow businesses
  • Assistance in learning to apply these tools to your own small business

Check out the video that Bobby and I put together to explain further and then register HERE!

WILL YOU BE THERE? Compass Point Lakeland, FL

The crusade travels to Compass Point Church in Lakeland, Florida (Pastor Chris Elrod) this weekend.

 

My team is FIRED UP about this weekend!  Here's why:

  • We get to deliver a full crusade package of Financial Counseling Experience (training financial counselors to provide FREE counseling), Speaking during Sunday message, and the Financial Learning Experience.
  • THEN, they are launching the I Was Broke. Now I'm Not. Group Study.  The FLE provides the practical teaching.  The Group Study provides the accountability to ensure the learning meets application!
  • Chris Elrod is a comedian.  Seriously – he traveled doing comedy – look him up on YouTube!
  • It is in FLORIDA!!!!

Here are the registration links for each of the events:

SERIES: Top 5 Ways To Save Money WITHOUT Selling Anything 3

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 Three  Move high interest credit cards to zero-percent balance transfer credit cards

I do not know how the credit card industry has been so effective at teaching Americans to believe that 15% is a good interest rate.  But they are great at it!  I can not tell you the number of times I have heard the following statement during a financial counseling appointment:

“The interest isn’t bad on this card.  It is only 17%.” Or 13%. Or 11.99%.  Or …  You get the picture.

I used to say the same thing (when I was BROKE).  I got unBROKE by challenging my belief system and realized that I was allowing myself to be legally robbed of my money!

If you are paying high interest on a credit card, you should seek to restructure that debt.  One great way to restructure debt is to play the “surf the balance” game.  Move the balance to a zero-percent balance transfer credit card and then work like crazy to pay it off.  If it is not paid off by the end of the zero-percent period, surf it again.  This ensures that all of your payment goes to reduce the principal balance of the debt.

There are several 0% Balance Transfer Credit Cards located on the “Next Steps” tab (HERE).  Move the balance and make progress toward 100% debt freedom!

You will save a ton of money by restructuring high interest debt!

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SERIES: Top 5 Ways To Save Money WITHOUT Selling Anything 2

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 Two  Life Insurance

It is incredible the number of people who have dependents reliant upon their income yet do not have life insurance.  J.D. Power and Associates has determined that over 50 MILLION Americans have inadequate life insurance coverage.

As a teacher and speaker on the subject of personal finances, I have seen many examples of inadequate/no life insurance.  The impact that it has on the surviving dependents is devastating.  I have also seen instances where there was adequate insurance.  The result is much different!

I have also seen a lot of people who are paying way too much on life insurance.  I have seen people who are paying thousands of dollars a year in life insurance premiums who tell me that the cash value will be worth $1,000,000 when they retire.  I tell them that this is great, but if they would have term life insurance and invest the difference in cost, they would have $10,000,000.

I recommend term life insurance equal to eight to ten times one’s annual take-home pay.  For healthy people term life insurance is SO CHEAP.  I personally carry thirty year level term policies on my and m y bride.

You can obtain on-line quotes without speaking to anyone HERE

Go ahead and check them out.  If you do not have life insurance and you have dependents who are reliant upon your income, purchase a policy ASAP.  If you already have life insurance, compare the costs.

My bet is that you will save a ton of money.

Read entire series