Archive for November 2010

SERIES: 5 Questions To Ask Before Spending Money

Welcome to the latest series on the wildly popular JosephSangl.com – 5 Questions To Ask Before Spending Money

It is my hope that this series will help provide you with practical questions to ask when preparing to spend a substantial amount of money. Practical questions that will help you truly understand the enormity of the decision and help you make the decision that is best for you and your family.

Question 2: Will this item INCREASE or DECREASE in value?”

Asking this simple question can prevent a lot of poor spending decisions!

Chewing gum goes down in value.   So do cars, 4-wheelers, refrigerators, swimming pools, and clothes.

Businesses can go up in value.   So can houses, land, antiques, mutual funds, company stocks, bonds, and intellectual property (patents, licenses, etc).

Here is what I KNOW: Not all of your purchases can be for items that increase in value, but if ALL of your purchases go down in value – something ain’t right!

BONUS: Find someone you know who is prospering with their investments.   Invite them to lunch (pay for his/her lunch) and ask them to mentor you!   They will probably LOVE IT!

Read the entire series

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SERIES: 5 Questions To Ask Before Spending Money

Welcome to the latest series on the wildly popular JosephSangl.com – 5 Questions To Ask Before Spending Money

It is my hope that this series will help provide you with practical questions to ask when preparing to spend a substantial amount of money.   Practical questions that will help you truly understand the enormity of the decision and help you make the decision that is best for you and your family.

Question 1: “Do I need this?”

This can seem very basic, but as a “spender” I can get caught up in the “I WANT THIS!” moment and never stop to ask, “Do I need this?”

My garage is full of “I WANT THIS!” items that we never use.   EVER!   This includes a RC Airplane (it’s cool – but I don’t use it), bike (never ride it), tennis rackets (once every three years – not a priority), and many other items.

Pausing to ask, “Do I need this?”, can prevent a lot of poor spending decisions.   I’m not saying that I never purchase things that are pure “wants” – I am saying that when I ask the key question, I make much smarter overall decisions.

BONUS: Wait overnight before answering the question!   It is amazing the clarity that a good night of sleep will bring to a spending decision!

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Happy Thanksgiving!

It is that time of year to take the opportunity to reflect upon all the good in our lives and be thankful for it.   I am truly living a blessed life!

As I reflect on this year, I am especially thankful for:

  • Health – I am GRATEFUL for the good health of my entire family!
  • Life – We were blessed with the safe arrival of our miracle baby boy, Keaton, in February (read about that HERE)
  • My Family – My bride, Jenn, and my daughter, Melea, are AWESOME!
  • This Crusade – We have been able to serve literally tens of thousands of people this year, and I am SO PUMPED to help so many take their next financial steps!
  • This Country – We ALL have the opportunity to pursue our dreams.
  • My House – It has been a chore to fix up our older house, but with most of that work complete – we really like our home!
  • My Vehicles – The 1997 GMC Sierra is still rolling along and went on the crusade about 10 times this fall!   The 2002 Chevy Tahoe will run over anything, and I LOVE IT!   (we even drove it to Houston, TX for Thanksgiving!)
  • My Church – I am challenged weekly through NewSpring Church.   Where else in life would I be consistently challenged remove the focus from myself and to serve others?   LOVE IT!

I am grateful and thankful for the many blessings in my life.   What are you thankful for this Thanksgiving?

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How To Have A Debt-Free Christmas

According to Sangl’s Dictionary, here is the definition of “Debt-Free Christmas.”

Debt-Free Christmasnoun The act of buying Christmas gifts without incurring any debt.

Here is the 1-2-3 steps that will ensure that you can have a Debt-Christmas of your own:

  1. Save money for Christmas throughout the year – save some money for Christmas every single paycheck.
  2. In October/November, prepare a Mini-Budget for the money you have saved for Christmas.     Click this link to pull the tool up: Mini-Budget Tool.   See the picture below for a sample budget.
  3. Ensure that it balances to EXACTLY ZERO!
  4. Stick to the plan!

MiniBudgetChristmasExample

It is that simple!

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Sangl Home Pay-Off Spectacular – November 2010

Every month there will be an update of Joe & Jenn’s Home Pay-Off Spectacular!

Here’s this month’s update!

Total Squares:   2,426

Paid-For Squares:   868 870

Squares Remaining:   1558 1556

% of House Owned By The Sangl’s:   35.8% 35.9%

% of House Owned By Wells Fargo:   64.2% 64.1%

Here is the updated Sangl Home Pay-Off Spectacular (click to view large size)

Blog Sangl Family Pay-Off Spectacular - Analysis 2010-11

We are making sloooooooooooooooow progress toward our next steps on this home pay-off spectacular.   2011 will be a very interesting year of updates!

How are you doing on YOUR house payoff spectacular?   If you do not have one, you can get one here => Pay Off Spectacular – House.

Read previous Sangl Home Pay-Off Spectacular Updates