Archive - July, 2011

Personal Finance App For Apple AND Droid

I am FIRED UP to announce that the I Was Broke. Now I’m Not. App is now available for APPLE and DROID!

This App gives you the ability to:

  • Carry your budget with you
  • Calculate key financial figures like payments, debt pay-off, investment values, tips, and tithe!
  • Email a financial question directly to our team!

Here’s the great news – because so many people have invested in this dream to help people accomplish far more than they ever thought possible with their personal finances, we are able to offer this APP for FREE!

Get The Apps:

I would LOVE to hear your feedback on these tools because WE WANT YOU TO WIN WITH YOUR MONEY and want these apps to be the best available!

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VISUALIZE The US National Debt

Want a GREAT WAY to visualize and more fully understand the US National Debt?

Click HERE (or copy and paste the following link in your browser:

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I Need To Make More Money!

“I need to make more money!”

As I travel this nation teaching and coaching people to win with their money, this is one of the most common beliefs that people have about their financial situation.  They truly and genuinely believe that more money is the answer to their current financial predicament.

While it is certainly true that more money would be a blessing and ease financial hardship, the question every one of us most answer is: “Am I managing my current income well?”

If the answer to this question is “yes”, then more income will most certainly be a blessing.  If the answer is “no”, more income will probably lead to more of the same pain – only with more shiny stuff.

For me, managing money well includes the following components:

  • Give at least 10-percent of my gross income away – FIRST
  • Save at least 10-percent of my gross income for known upcoming expenses (like annual insurance and Christmas)
  • Invest at least 10-percent of my gross income in long-term retirement accounts
  • Invest at least 5-percent of my gross income for my children’s college, weddings, etc
  • Pay all of my bills early
  • Maintain a healthy cash margin so that obstacles and opportunities can be faced without financial collapse
  • Staying in tune with my surroundings so that I can identify opportunities to bless someone or for investment
  • Teaching my children how to win with their money
  • Communicating with my spouse to ensure we are on the same page
  • Prayer about all financial decisions
  • Seeking wisdom for all financial decisions that I am unfamiliar with or that are larger than normal

What are some things you do to ensure that you are managing your money well?

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If you follow me on Twitter or Facebook, you know that I announced a little while ago that a big announcement was coming.  Here it is!

I am PUMPED to announce that I Was Broke. Now I’m Not. has released our very own App for Apple products – iPhone, iPod Touch, and iPad!

We are so STOKED about this!  You could even say that we are FIRED UP!

This App gives you the ability to:

  • Carry your budget with you
  • Calculate key financial figures like payments, debt pay-off, investment values, tips, and tithe!
  • Email a financial question directly to our team!

Here’s the great news – because so many people have invested in this dream to help people accomplish far more than they ever thought possible with their personal finances, we are able to offer this APP for FREE!

It is available FREE right HERE!

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Top 7 Reasons It’s Hard To Balance The US Budget

Here are the Top 7 Reasons It’s Hard To Balance The US Budget:

  1. It’s hard to say “NO” to a good program  Let’s face it.  There are tons of great programs that are funded by taxpayer money.
  2. Genuine disagreement  Smart people who are extremely passionate about their work have real differences in their beliefs and ideals.
  3. Ever-changing leadership  Leadership changes every election cycle.  What was important in the last cycle may not be important during the next.
  4. Politics  Ever heard of “We” versus “They”?
  5. We can print more money  Fire up the printer, boys!  We need more $100 bills!
  6. Others aren’t – Why should I?  It’s hard to be a leader who cuts spending when other leaders are continuing to spend at high levels in their own districts.
  7. MANY AMERICANS AREN’T LIVING BY A BALANCED BUDGET THEMSELVES!  If Americans don’t live with a balanced budget, they don’t truly know the freedom that is felt when one has a plan that balances!

What additional items would you include?

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US National Debt – My Letter To My Representative

As the United States faces such a HUGE obstacle of increasing its debt limit yet one more time, I wrote the following letter to my elected representatives.  I encourage you to write YOUR REPRESENTATIVE and demand a BALANCED BUDGET!

Dear Representative,
I am writing to encourage you to continue to demand that spending cuts are tied to the national debt increase bill. When my own personal budget is faced with shortages, we do not continue to increase our debt – we choose to cut spending instead. Some of these cuts are not fun, but it is what MUST happen in order for my family to prosper.

The same is true for the United States. Please ensure that the fundamental rule of INCOME minus OUTGO must equal EXACTLY ZERO is applied to our budget. While it is absolutely imperative that the national debt is increased at this moment, it is essential that the necessary steps are put into action to ensure that this is THE LAST TIME that we increase our nation’s debt. I don’t want to hand a financially broken and bankrupt nation to my children. I appreciate your leadership and focus on this extremely important issue.

With the highest regard,
Joseph Sangl

I know that I am simple man, but INCOME – OUTGO = EXACTLY ZERO works with $1,000 or with $14,000,000,000,000!

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Debt Free WOO-HOO! Call

When we travel the nation to teach the Financial Learning Experience, we encourage people to call us when they achieve debt freedom.  We’re getting these calls more and more, and I just wanted to share one of those calls with you.

Listen to the call HERE  (takes only 4 seconds!)

It’s that simple – and it feels really cool to YELL once you’re debt-free!

When YOU achieve debt freedom, will you call us?  Just yell – no names or anything.  We’ll celebrate knowing another person has achieved such a monumental moment!

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Companies That Are Debt-Free

What do the following companies have in common?

  • Apple (AAPL)
  • Fastenal (FAST)
  • Panera Bread Corp (PNRA)
  • Texas Instruments (TXN)
  • Bed Bath & Beyond (BBBY)

Besides being TOTALLY UNRELATED organizations, they are all 100-percent DEBT-FREE!  Google was 100-percent debt-free until 2010 and Microsoft was 100-percent debt-free until 2009.  Each company possesses more than enough cash to eliminate the debt without any financial margin issues.

Take a good look around at America’s businesses – they are almost ALL carrying some debt.

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Surprised Kitty

YouTube is incredible.   Anybody can post a video with the potential for anyone in the world to watch it.

For example, the below video (can’t see it – click HERE) has had over 50 MILLION views.   50,000,000!

Now, I love kitty cats.   My family has two of them.   Here is an alarming fact, however.

Watching kitties will make us smile for a few minutes, but failing to learn how to win with our finances can make us frown for decades.

So … watch the kitty video, smile, and then start learning about how to make your money work for you to fund your dreams so that you can smile for decades!   A good place to start is the “How Do I Budget Series” HERE.

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0-Percent Balance Transfer Credit Card

Updated 5/23/2016

I am constantly looking for 0% APR Balance Transfer Credit Card offers so that people with high interest credit card balances can restructure that debt to 0% interest. This allows ALL of the monthly payment to be applied directly to the principal balance of the loan.

Credit card lenders have begun really offering better terms recently as they have extended the 0-percent terms and lowered transfer fees. The best offer(s) I’ve currently located are located on the I Was Broke. Now I’m Not. page (HERE).

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July National Debt Update

The US National Debt has increased by $91,092,718,497 since our last update in June 2011. This increase comes as the debate in Washington rages on whether or not to raise the US Debt Limit.

National Debt as of 7/18/2011


Moving politics aside, action needs to be taken.   Our nation MUST gain control of the debt before it becomes completely out of control.   Over the next several weeks, I will be sharing some of the lessons I believe individuals can learn from our country’s debt issues.

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Financial Storms Are Necessary

I was driving through a severe storm recently (the one pictured was one I experienced recently while in Erie, PA), and it was incredible, scary, awesome, and fearsome – all at the same time!

Major Storm

Here is the order of events:

  1. We saw the storms coming in the distance
  2. We were warned by a “Severe Thunderstorm Warning” for our county.
  3. The winds picked up a little
  4. We heard thunder grumbling in the distance
  5. We saw lightning and then thunder
  6. MAJOR wind arrived (40 to 50 mph)
  7. MAJOR lightening/thunder/wind/rain arrived
  8. Heavy rain continued for about 30 minutes
  9. Light rain continued for another 30 minutes and then the storm passed by
  10. The sunlight returned with the Earth having received a good washing

The storm knocked down lots of limbs, some power lines, and a few trees.

It made me think – what would happen to all of the dead limbs if storms did not happen?   The tree would be left holding up all of that dead weight.

It makes me thankful that I experience financial storms from time to time.   It helps me re-evaluate what is important to me and my family. It helps us get rid of dead weight – costs that are no longer necessary or are merely “wants” instead of “needs”.

YOU can share! I’ve experienced many financial storms, and I am sure you have too!   I would love to hear about some of the financial storms you have experienced and how you came out better because of it!   Share in the comments below!

TRUTH: We can either despise the storm or welcome it knowing that we will be better in the future because of it.

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Blogs And Websites Joe Sangl Reads Daily

There are many great blogs and websites out there, but there are a few that I have chosen to read every single day.   I believe that consistent reading of these sites has helped me grow as a leader, business owner, and individual.

Personal and Business Finances Sites/Blogs

Leadership Blogs

News and Sports

Social Media

Communication and Schedule Management


Some of you may be thinking, “Does he really type all of those web site addresses in every single day?”   The answer is NO – I use the multi-tab feature of my web browser (I like Firefox and Google Chrome).   When I open my browser, these websites automatically load.   I spend less than 15 minutes of each morning catching up on what is news.

I would love to hear about the sites you visit on a daily basis – share them with me in the comments!

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Sangl Home Pay-Off Spectacular – July 2011

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:   932 952

Squares Remaining:   1494 1474

% of House Owned By The Sangl’s:   38.4% 39.2%

% of House Owned By Wells Fargo:   61.6% 60.8%

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

Blog Sangl Family Pay-Off Spectacular - Analysis 2011-07

I can not tell you how GREAT it feels to smash the mortgage again this month – for the 4th month in a row!   In the next two months, we will fully own our sun room and move on to buying squares in the rest of our house.

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