Archive - August, 2010

Want To Become A Financial Coach?

FCoachingE

I am PUMPED about our first ever Financial Coaching Experience training that we are going to be offering starting in September!   To be considered for this training, it is required that you participate in our on-line information meeting TUESDAY NIGHT (8/31/2010).

We will be covering the highlights of the training, participation requirements as well as registration and cost information.

Space is limited, so register HERE to reserve your spot.

I Am So Blessed!

There are times that I am just overwhelmed with gratefulness.   Right now is one of those times.

You see, my life over the past 20 months has had the incredible potential to become a financial disaster.   Here are the issues Jenn and I have faced.

  • January 2009:   One heat pump failed.   The other failed four months later.   Cost: $9,500
  • January 2009: Attempted In-vitro Fertilization (IVF) after nine years trying for a second child.       Cost: $18,500
  • June 2009: Started “I Was Broke. Now I’m Not.” as a full-time business Cost: Entire Salary PLUS had to obtain individual health insurance
  • June 2009: Discovered that Jenn was pregnant (God works in wondrous ways!) – but we had been unable to obtain full maternity coverage – but we had to pay for our insurance plan   Cost: $4,000
  • February 2010: Keaton Joseph Sangl arrives safe and sound   Cost: $13,500

Add those costs up.   It adds up to $45,500!!!

Why am I grateful?   Because we have not incurred ONE DOLLAR OF DEBT as a result of these MAJOR EXPENSES!!!

You want to know why I am so passionate about the financial principles I teach?   That’s why!!!   Because we gave. Because we saved.   Because we have had a plan.   Because we have been diligent, we have been able to avert COMPLETE FINANCIAL DISASTER!   We are LIVING THIS.   This is more than just some “good idea.”   This is a “way of life.”

Think about it.   I teach personal finances for a living.   Where do you think I will be tested the most?   In the management of my own money!

The bank saving accounts are definitely smaller.   I am still blessed.   It has been an emotional 20 months.   I am still blessed.

And our opportunities to serve people and help them become financially free are greater and more numerous than ever!   The passion I have for this crusade is hotter than ever.

I am so blessed.

QUESTION OF THE YEAR: Could you absorb a $40,000+ financial penalty over a period of 20 months and still avoid debt and be able to give throughout it all?

By a miracle of God Himself, I can answer that question with a resounding, “YES!”

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Top 5 Things People LACK In Their Financial Plan

As I have traveled the country speaking and teaching about personal finances, I am continually reminded that this crusade has A LOT of work to do!   Many people just do not have a clue about how to win with their money.   It was not taught to them in school (and they may not have paid attention even if it were), they have not taken any classes since, and time is so limited that the last thing they want to do is to use the one spare moment they do have to read about money.   BUT if one does not take control, money will usually always be a problem and a source of endless frustration.   It can even cause lasting injuries to relationships.

With that said, I want to share what I believe are the Top 5 Things People LACK In Their Financial Plan:

  1. Monthly Written Spending Plan The old adage is true: “Fail to plan. Plan to fail!”
  2. A “Get Out Of Debt!” Plan Debt robs us of our ability to go do EXACTLY what we have been put on earth to do!
  3. A Written Will Statistics show that nearly sixty percent of people do not have a written will!   If you do not prepare a legal will, the government will decide who gets what.
  4. Life Insurance Again, statistics show that a majority of people who have dependents relying upon their income to sustain their lifestyle do not have adequate life insurance.   Term life insurance is just too cheap for this to happen!
  5. Health Insurance We know that it is EXPENSIVE, but it is way more expensive to not have it!

I hope that these help you take your finances to the next level!   Would you add anything to my list?

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Top 5 Ways To Save Money

From time to time, my family revisits ways that we can save money.   Invariably, we find a way to save a lot.   Recently, we completely cut off cable to eliminate that bill.   I haven’t missed it yet.   I might start missing it when college football starts up, but I certainly don’t miss the cable bill!

Our team has put together a list of the Top 5 Ways To Save Money – Without Selling Anything! This list has certainly impacted our money in a huge way.   Hopefully, this list will help you save a ton of money too!

  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!

In fact, I would LOVE to hear how much money you save by doing these five things!

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angl

INFORMATIONAL MEETING: On-Line Financial Coaching Training

FCoachingE

The IWBNIN Team is FIRED UP about the opportunity to train Financial Coaches on-line for the first time ever!   We travel around the nation equipping leaders to become 1-on-1 financial coaches, and it is just EXCITING to have the opportunity to train individuals who we would otherwise have no way of meeting or equipping!

The actual training begins in September, but we are hosting an on-line INFORMATIONAL MEETING on Tuesday, August 31st, at 7:00PM Eastern Time where we will cover the details of this training.   To participate in this meeting, you need to sign up by filling out the application below .   If you can’t see the form, click HERE to access it directly on the web.

National “FUNDED and FREE” Holiday!

My new book, Funded and Free, that I co-wrote with Casey Graham, officially released on Sunday.
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We are so FIRED UP that we’ve declared today, August 18, 2010, a NATIONAL “Funded and FREE” HOLIDAY!
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FUNDED and FREE was written to help church leaders FUND their vision and FREE themselves of financial worry!   This book contains 50 chapters of practical and relevant teaching regarding the topics of Giving, Budgeting, Capital Campaigns, Personal Finances, and Church Financial Management.

Since we are in a festive “National Holiday” mood, we are excited to offer Chapter One absolutely free – “Understand 5 Reasons People Give” – which you can obtain HERE.

It is our prayer that this resource will help thousands of leaders fund their vision. In fact, we are SO FIRED UP that we are also offering an unbelievable one-day only sale TODAY, August 18th, on National “Funded and Free” Day – FIVE BOOKS for $50 – that is 50% off – by following THIS LINK!

If you are a church leader, grab some copies for your team.     If you are not a church leader, grab some copies for your church leaders!

Don’t miss your chance to take advantage of this special National Holiday sale!

US National Debt – August 2010 Update

One of the most compelling reasons for why we do what we do here at IWBNIN is the SOARING US National Debt.   Every month, we are going to highlight (lowlight) the increase to OUR national debt.   Then, we’re going to challenge everyone to do something about it.

National Debt as of 8/17/2010

$13,336,962,180,893

By the time this post was completed, the national debt increased by an additional $1 million.

Your thoughts?

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New Book Released TODAY! Funded And Free

I am PUMPED that my new book for church leaders, Funded And Free, has released ON TIME – TODAY!

FAF 3D WHITE BKGRD

I co-wrote this book with Casey Graham (his blog is HERE) because he shares my passion for helping church leaders fund their vision!   This book was written to “help church leaders FUND their vision and FREE themselves from financial worry!”

Perhaps you can pick up a copy for your church leadership team TODAY!

CTP

I’m PUMPED!

SERIES: Health Insurance – Part Five – The COST Of Not Carrying Insurance

Over the past 21 months, my family has participated in a wild ride with health insurance.   The experience has been enlightening, incredibly frustrating, annoying, confusing and intimidating.   Can I get an Amen! and a witness?!?!   In this series on health insurance, I am going to share my experience AND some helpful tips on saving money on health insurance.

Part Five The COST of not carrying health insurance

This series started out with me sharing my story of dropping maternity insurance coverage only to discover 16 days later that our baby boy was already on the way.   I got the joy of paying about $7,500 extra.

There are several COSTS to not carrying health insurance, some are obvious – others not so much:

  • Monetary penalty This is obvious, of course.   I only had to pay $7,500 extra for my debacle.       I say “only” because I have seen SO MUCH WORSE!   A heart attack costs many multiples of what I had to pay.   Accidents do happen.   My twin brother is an ER doc – and every single day he sees people that are experiencing a life-altering health care crisis.   With a 100% mortality rate, I would say the chances of you or a family member experiencing a large health-care bill in the next ten years is very high.
  • Emotional Stress I meet with people in 1-on-1 financial coaching session all of the time.   One of most common causes of unbelievable stress is unpaid medical bills that were incurred without insurance coverage.   In some cases, the stress has become so great that people begin to lose hope and despair of ever winning with their finances – and it ALL could have been avoided if they had just carried health insurance.
  • Avoid necessary care/Delay visits to doctor When a person does not carry insurance (or do not have money to cover their deductible), they will avoid going to the doctor or emergency room.   Now, in some cases, this is a good thing.   The financial penalty has reduced the number of people going to the doctor for a hangnail.   But in many other cases, people have avoided a doctor’s care for necessary and sometimes urgent care.

What are some other costs you can think of that are a result of NOT carrying health insurance?

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Sneaky and Fast Financial Emergencies

My family spent a week at Table Rock Lake in Missouri this summer swimming, skiing, wakeboarding, kneeboarding, tubing, boating and fishing.   It was an incredible week.   Except for the broken toe I sustained while doing a good deed and the faceplant I performed while wakeboarding.

The faceplant reminded me a lot of some financial emergencies my family has sustained.

  • It happened so fast I did not see it coming
  • It HURT – at first I could not even register the pain, then I felt more pain than I ever wanted to
  • It happened even though I did not want it to
  • It was visible to everyone that I was on the edge of a mess, but I was not able to hear them for the noise

In fact, they had the camera rolling as I crashed.   You can check it out by clicking the 43-second YouTube video below or by clicking HERE.

You can hear how much sympathy I received at the end of the video when you hear the laughter.   Ever noticed that some people have no sympathy for your financial mess?

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SERIES: Health Insurance – Part Four – Ways To Save

Over the past 21 months, my family has participated in a wild ride with health insurance.   The experience has been enlightening, incredibly frustrating, annoying, confusing and intimidating.   Can I get an Amen! and a witness?!?!   In this series on health insurance, I am going to share my experience AND some helpful tips on saving money on health insurance.

Part Four Ways to save on health insurance

I need health insurance, but I don’t want to have to take out a small business loan to pay for it!   Here are some key ways that I have saved on my health insurance.

Increase the deductible By increasing the deductible, I have assumed more personal risk and decreased the risk being carried by the insurance provider.   This means that they can offer a much lower premium to me.   In chapter 12 of my book, I Was Broke. Now I’m Not., I share how I compare insurance policies using the premiums and deductibles to see which one is the best financial decision.

Live a healthy lifestyle In a large group health insurance plan, you are automatically admitted to the insurance plan.   In an individual plan, you will be accepted/charged according to your personal health history.   We can’t control all of our health, but by controlling what we can, we can have a healthier life and better rated insurance premiums.

Go to work for an employer with group health insurance coverage If you can not obtain coverage or you have health history that is hurting your ability to obtain affordable insurance, obtain a job that offers group health insurance that does not have a clause that excludes your pre-existing c0nditions.

Don’t work, be a complete slob, and live life on the government dole Be broke.   Don’t be productive.   Save nothing.   Go to the hospital and rack up HUGE charges and let all of us tax-paying, law-abiding, hard-working citizens pay it for you.

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Swagbucks – Boosting My Budget

I have written about Swagbucks in November 2008 and January 2010.   I continue to love this Budget Booster!   Swagbucks is a search engine just like Google, Ask, or Bing with one key exception – they PAY you to search!!!   Every so often, they reward you with a Swagbuck (or Swagbucks) when you search.   The Swagbuck is their own currency, and they can be redeemed for gift cards or merchandise.

I just redeemed my Swagbucks for a $5 Amazon gift card.   They also have Target gift cards and several others!   So far, I have personally earned 5,348 Swagbucks!   It takes 450 Swagbucks to obtain a $5 Amazon gift card.   It is FREE money that I receive for doing something I already do!   YES!

Here is a great feature of this program.   Once you register, you can refer your friends.   For their first 1000 Swagbucks, you can earn a matching Swagbuck!

You can check it out and register HERE.

SERIES: Health Insurance – Part Three – Group Plans

Over the past 21 months, my family has participated in a wild ride with health insurance.   The experience has been enlightening, incredibly frustrating, annoying, confusing and intimidating.   Can I get an “Amen!” and a witness?!?!   In this series on health insurance, I am going to share my experience AND some helpful tips on saving money on health insurance.

Part Three Group Plans (even when you are an individual)

Sometimes group plans are less costly and offer better benefits than individual policies – and individuals sometimes have opportunities to participate in a group plan if they are part of a network or business group.   For example, I am part of my local Chamber of Commerce.   They offer the opportunity for me to participate in a group health insurance plan.   Small business networks, home builder groups, and other membership organizations will offer group health insurance to their members.

It gets even better when you can obtain lower premiums by obtaining group health insurance AND it is a High Deductible Health Plan (HDHP) with a Health Savings Account (HSA) – which was Part Two of this series!

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SPECIAL ANNOUNCEMENT: On-Line Financial Coaching Training!

One of the biggest reasons the crusade is able to help people accomplish far more than they ever thought possible is because we have trained Financial Coaches all over the country.   When we partner with a church or organization for a live event, we teach valuable principles and tools that equip people and provide them with hope and inspiration.   But at the end of the day, we have to travel back home.   It is the Financial Coaches we train that provide the ongoing 1-on-1 help and assistance people need for their individual financial situations.   Helping people put together a plan and showing them HOW they can win with their money is the most important thing, and Financial Coaches make it possible.

You might be interested in becoming a financial coach as well, but haven’t had the opportunity to go through our live training.   The reason is usually we either haven’t been to your area or your church hasn’t launched a financial ministry yet.   It might be that your church has been waiting for someone like you to step up and start the financial ministry.

Do you want to be a vital part of this crusade to help others win with their money?   Are you winning with the management of your own personal finances, and are passionate about helping others accomplish the same?   We are PUMPED to introduce you to possibly the most life-giving and joy-filled opportunity you may ever find:

Become trained to be a financial coach!

For the first time ever, we are making it possible for the right people to become a part of the crusade no matter where you live!   The Financial Coaching Experience is going LIVE ONLINE!   If you are interested in this one-time opportunity, fill out the application form below to be signed up for an on-line (of course!) informational meeting where we will share the details of the training and answer any questions you may have.

If you are interested, click the link below to learn more details and fill out an application.   This is a LIMITED OPPORTUNITY because we can only train ten people at a time.   Fill out the application below NOW to reserve your spot in the informational meeting being held on-line Tuesday, August 31st, at 7:00PM Eastern Time!   If you can’t see the form, click HERE to access it directly on the web.

SERIES: Health Insurance – Part Two – HDHP with HSA

Over the past 21 months, my family has participated in a wild ride with health insurance.   The experience has been enlightening, incredibly frustrating, annoying, confusing and intimidating.   Can I get an “Amen!” and a witness?!?!   In this series on health insurance, I am going to share my experience AND some helpful tips on saving money on health insurance.

Part Two High Deductible Health Plan with Health Savings Account (HSA)

I was first introduced to a high deductible health plan (HDHP) with a health savings account (HSA) when I was an employee.   My first reaction was, “My deductible is that HIGH?!!”   Upon further review, I found out that it was a terrific deal – for me as an employee as well as my employer.   Let me explain how a HDHP with a HSA works.

  • High Deductible Health Plan (HDHP) According to IRS publication 969, the minimum deductible eligible for establishing an HSA is $1,200 for an individual and $2,400 for a family.   In other words, the insurance policy must require the covered individual or family to pay the deductible before the insurance company pays any health care costs (with some exceptions related to preventive care – see IRS Publication 969)
  • Health Savings Account (HSA) This is a savings account that you can establish at a bank that is used solely for paying for health care expenses.   I have established my account at a local bank.   Each year, I am able to contribute an amount equal to the annual deductible of my insurance.   Here is the GREAT NEWS – whatever I contribute to my HSA is tax-deductible!   This saves me TONS of money!   Additionally, the money I have in my HSA is not a “use-it-or-lose-it” account.   If I do not use all of the money I have placed within my HSA, the money remains in my account until I actually need it.

As I have embarked onto this crusade full-time, I have had to obtain my own individual insurance policy.   HDHP with HSAs were by far the best option for my family.   We checked out the rates at eHealthInsurance and a local insurance agent.   The rates were the same, but using eHealthInsurance I was personally able to easily compare policies.

A HDHP is less costly to the insurance company because they substantially decrease their risk by forcing the consumer to shoulder the burden of the initial deductible.   For most people, this causes them to avoid running to the emergency room every single time there is a health care need.   Because the individual is going to have to pay for the entire ER visit, they become what I call a powerful person – an INFORMED and AWARE consumer!   This means that the individual will instead go to an urgent care facility which will charge less than 1/4th of the cost of an ER visit.   This is better for the individual AND the insurance company – and results in a lower premium.

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