Most people struggle with managing their money well. When asked about the cause of their financial struggles, many reasons are presented, but most of them are inaccurate or misguided. Too little income, high expenses, non-participating spouse, high debt load, health issues, and bad luck are often presented to me as the reason for financial misery.
All of these reasons are SYMPTOMS of a poor financial situation, but they are not the CAUSE.
I truly believe that the number one cause of financial failure is LACK OF VISION.
Proverbs 29:18 KJV says, “Without vision, the people perish.” Observe great leaders and you will realize that they have tremendous vision. Speak with individuals who have won with their own money, and you will realize that they also have a clearly defined vision for their life and finances.
TODAY’S CHALLENGE: Write down your vision for your life and family.
Do it right now! Here are some good starter statements:
- In 20 years, we want to have given away $XX,XXX to the following organizations.
- In 20 years, we want to have traveled to …
- In our lifetime, we want to be able to …
I would be honored if you would share some of your vision statements with me! Send them to me HERE.
As I was walking through a parking lot on a recent trip, my attention was drawn to a gentleman who was walking nearby. He might have been a millionaire, but if so he certainly hid it well. I saw outward signs of poverty. Unclean. His countenance was cast down. No spark in his step and no sparkle in his eye.
For whatever reason, I felt a prompting to give him some money. He had not approached me. He did not ask for it, but I walked over to the man and said, “Let me bless you today”, handed him the money, and turned away.
His surprise was obvious.
I have no idea what he did with the money, but I believe he probably needed that money way more than me.
LIFE LESSON: Living generously is the only way to live.
ACTION FOR TODAY: Find someone that you can bless with a gift of money, service, or time – and do it TODAY!
Have you ever been able to bless someone like this? Share your story with us in the comments!
I am FIRED UP about our new website! As part of our celebration, we have made the decision to GIVE AWAY our “How To Save $1,000 RIGHT NOW!” webinar. Why would we do this? Because it is our passion to help people accomplish far more than they ever thought possible with their money!
This webinar is fast-paced and filled with over 18 ways that you can start saving money in your current budget today!
We recently received the following comment from Shirley:
“Joe, I have been taking your course at my church for 5 wks now and just listened to your save $1000 now webinar. I am a dog groomer and needed to order supplies, so, I looked up retailmenot and got a %10 off code for my supplies. My bill went from $278.09 to $250.28. I am thrilled to have your help and suggestions. BTW, I have saved up over $500 so far in 5 weeks!
God Bless and keep up the great work!”
Thanks, Shirley, that is what this crusade is all about!
I challenge you to watch the FREE “How To Save $1,000 RIGHT NOW!” webinar.
Just click HERE to start saving!
Welcome to the latest series at JosephSangl.com – Joe Sangl’s Favorite Financial Tools
In this series, I will be sharing the tools that I love the most. There are several reasons I love these tools, but mostly I like them because they literally helped me change my life!
Part Two – Early Pay-Off Calculator
The early pay-off calculator is a HOPE-GENERATOR! Do you want to get FIRED UP? Do you want to see the answer to the question, “What if?” Use the Early Pay-Off Calculator to answer the question!
I have found that the Early Pay-Off Calculator is most impactful when used to calculate how much more quickly a home mortgage would be paid off if one were to begin paying extra principal each month.
As example, consider a $150,000 home mortgage financed for 30 years at 5% annual interest. The principal and interest payment would be $805/month.
- Pay just $905/month ($100 extra), the early pay-off calculator shows that the mortgage would be eliminated in 23.5 years (6.5 years sooner)
- Pay $1,000/month ($195 extra), the mortgage pay-off would occur in 19.7 years
- What if one were able to make two payments per month ($1,610/month)? Pay-off would occur in 9.8 years!
Don’t think it is possible to make two payments per month? Think again! Most people could make two, three, or even four payments per month if they eliminated all of their other debts! I challenge you to pull up the Early Pay-Off Calculator, punch in your numbers and discover why this tool will be one of your favorites too!
TOOL: Early Pay-Off Calculator
RESOURCE: My book, I Was Broke. Now I’m Not., is a great resource to help you attack debt and make it leave your life!
I received a great Twitter message the other day with the following statement and picture:
“2 credit cards cut up and outta here! One with zero balance! One more to go and I’m done with these things @joesangl”
Listen – if you plan your spending and pay your cards off every month, get all the points you want. But I had to chop mine up. Apparently, this was the right decision for Desiree Dare too!
Can I ask you to do ONE THING?
- Go to Desiree’s Twitter page and leave her an encouraging note (HERE)
It is our team’s goal to help EVERYONE take their next steps toward their financial goals – and to accomplish far more than they ever thought possible with their money!