Archive for June 2011

Countdown to 200,000 miles – 6,272 to go! Jerk Edition

I’ve started the countdown for my clunker (AKA The Green Hornet) to reach 200,000 miles traveled.   You can see a picture of this beautiful piece of work HERE.

CURRENT MILEAGE:   193,728

In this series, I will be sharing some of my favorite features of The Green Hornet as well some favorite moments.

IMG-20110613-00009

The JERK! Moment

I purchased this vehicle from one of my brothers, and he had purchased The Green Hornet (TGH) brand new.   In the year 2000, I had traveled all the way to Canada for a fishing trip in this vehicle and really liked how it performed.   I told him that if he ever wanted to sell it that I wanted him to call me first.   In 2001, he was ready to sell, and I was ready to buy (I bought with debt – remember I was making BROKE-type decisions back then).

About a year after purchasing TGH, I was traveling north for our 2002 Canada fishing trip.   When I arrived outside of Asheville, NC, I met the familiar bottleneck of traffic where I-40 and I-26 intersect.   As TGH moved slowly through the stop-and-go traffic, the automatic transmission would SLAM! into 2nd gear from 1st gear.   I’m not talking about shifting “kind-of” rough, I mean it literally lurched the vehicle forward.   It was the JERK! moment.   It is a familiar situation for many.   I owed a lot on the vehicle, had zero savings, and had a lot of miles to go.   I nervously continued on the trip and left it behind at a car repair place in Indiana while I went ahead with the fishing trip.

The end result of this stressful moment?   The auto repair mechanic told me to drive it until it totally broke.   I did, and would you believe that the truck went another SEVEN YEARS before the transmission finally gave out – shifting hard all of the way to the end?

Yet another special moment I have shared with TGH.   On to 200,000 miles!

QUESTION: Are you driving a green hornet?  I would love to see pictures and hear your story!  Send to me at info@iwasbrokenowimnot.com

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Exciting Announcement & A Free Gift!

== SPECIAL ANNOUNCEMENT ==

I am so EXCITED to announce that we have launched our brand new I Was Broke. Now I’m Not. website!   This is so exciting for us because it is much more user-friendly, and allows us to serve each of you better as you pursue your next financial steps.

FREE GIFT Our team is celebrating this huge milestone by GIVING AWAY our “How To Save $1,000 Right Now!” Webinar.   All you have to do is click HERE or visit http://www.iwasbrokenowimnot.com and click on the orange box that says “How To Save $1,000 Right Now!”

We hope that you will take a few moments to review the new website and that you save $1,000 by applying the money saving tips.

Blessings!
Joe

PS:   The first 100 people who take advantage of the free webinar offer will also be entered into a drawing for free gifts – like IWBNIN T-shirts, books, and resources.   Can you tell that we are FIRED UP?

SERIES: Joe Sangl’s Favorite Financial Tools – Monthly Budget

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 One – Monthly Budget

Preparing a monthly budget each month BEFORE the next month actually began has been the single largest reason that Jenn and I started prospering with our money.

Our monthly budget applies the basic rule of “Spending less than we earn.” It is a key hallmark of the Financial Learning Experience that I teach and all of our resources – the basic formula of:

INCOME – OUTGO = EXACTLY ZERO

We ensure that the “outgo” includes giving money away, saving, investing, and paying our bills.

Every. Single. Month.

Not just once every now and then.   EVERY. SINGLE. MONTH.   We prepare a monthly budget and then we do something completely crazy: we follow it!

Do surprises show up? Absolutely.   Do we have to make adjustments?   All of the time.

BUT the budget helps us stay on course.   We have realized that our budget is the engine that makes our financial vehicle run with power!   The finely tuned budget ensures that our life hums with funded dreams, giving, and peace.   It can do the exact same thing for you!

TOOL: Monthly Budgets

RESOURCE: My book, I Was Broke. Now I’m Not., is a great resource to help you prepare a budget that actually works.

Read the entire series (available after 6/17/2011)

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June National Debt Update

The US National Debt has increased by $ 35,045,072,270 since our last update in May 2011.  This is great news as we continue to see the increase in national debt each month drop drastically.  The increase we have seen since this time last month is now only half of the increase we saw in the prior month.

National Debt as of 6/10/2011

$14,421,100,330,479

With all of the talk about raising the National Debt Ceiling, we are seeing the debt grow much slower.  We would love to hear your opinions on how the government should handle the National Debt.

Should the US raise the debt ceiling?  If so what type of contingencies should be attached to make sure the US does not continue on this path of running up debt?

What type of effect do you think raising the debt ceiling will have on the economy?

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Margin – Part 4 – Fill Up The Tank

Welcome to the latest series of JosephSangl.com – Margin.   This is a series where we will focus on the real and emotional effects of living life WITH and WITHOUT financial margin.   As part of this crusade to help people accomplish far more than they ever thought possible with their money, I see so many people living life on the edge with no financial margin.   Lack of financial margin leads to lots of issues.   Through this series, we will be discussing the benefits of establishing and keeping financial margin.

Part 4Fill up the tank.

There are so many benefits to having financial margin, but one of the greatest is the ability to just “fill up the tank.”   Let me explain.

When there is no financial margin, it may not be possible to drive to the gas pump and fill up the gas tank.   Lack of margin means that one has to put $20 in one time and $37 the next.   Whatever money is available goes into the gas tank.   This can be very costly – especially in time costs!

When you are not filling up the tank every time, you lose time because:

  • You have to fill up more often
  • You have to waste time figuring out how much can be spent this time

For many people, it also costs more money because more visits to the gas station means more trips into the convenience store to buy super-overpriced soda and snacks!

When you have margin, you can just “fill up the tank.”

Here are other ways this applies to having financial margin:

  • You can buy the proven name-brand appliance instead of the el-cheapo model
  • You are in the position of power so you are not subject to obtaining financing and buying the junk they are trying to sell you
  • Pawning, short-term financing, and other highly expensive ways to obtain money become completely unnecessary

To me, the sacrifices to obtain financial margin are worth it just to “fill up the tank” every time!

Read the entire series (available after 6/8/2011)

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