Archive for September 2012

Stop Living Paycheck To Paycheck

Questions:

  1. Are you living paycheck to paycheck?
  2. If you missed one paycheck, have you saved enough money to pay your bills on time?

Statistics continue to show that somewhere between 50% to 70% of Americans are living paycheck to paycheck.

Bankruptcy is a very close relative to paycheck to paycheck living.  People who choose to live this way are just one illness away from disaster. Just one job layoff away. One paycut away.

Marriage distress and divorce is a very close relative to both bankruptcy and paycheck to paycheck living.

If you are living paycheck to paycheck, I must ask:

Why would you put yourself in this position?

The stress is not worth it! The energy required to determine when each bill will be paid is exhausting. Why would you allow your marriage and financial future to be jeopardized?

If I can not give money away and save each time I am paid, something is broken. Having a car payment, a student loan payment, a furniture payment, and credit card payments might allow me to look good, but there is no way it is worth the stress of paycheck to paycheck living.

Financial margin allows you to stop the stress and despair.

If you are stuck in the paycheck to paycheck life, here are some practical steps you can take to get OUT of the madness!

  1. Pay cash for all future purchases.  No more debt.  It is the first rule of holes – When you are in a hole, stop digging!
  2. Spend all of your month’s money on paper BEFORE the month begins. It is called a budget, and it is AWESOME! Apply the basic rule: INCOME – OUTGO = EXACTLY ZERO.  You can get started by clicking on “TOOLS” on the top of the page or by clicking HERE.
  3. Refuse to believe the lie that you must have debt.  You do not HAVE to have debt. I have personally seen hundreds of people accomplish major improvement in their personal finances. Many have went all the way to total freedom of debt (except the house – some including the house!).

I want financial freedom so much for you!  I feel a HUGE WEIGHT on my heart to help you achieve financial freedom!  I want to help you! It is why I wrote I Was Broke. Now I’m Not. – to help you prosper! You CAN do this!

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Have You Looked At Your Credit Report Lately?

Your credit report is used regularly to make decisions about you. Marketers use your credit report to determine the offer they will send to you. Insurance companies use it to establish premiums.

Since decisions are going to be made about you based on your credit report, you should know what the report says! Even more, identity theft is rampant and errors can also happen.

By law, you are allowed to obtain your credit report at least once per year. Obtain your FREE credit report at www.annualcreditreport.com.

Each credit reporting agency will attempt to sell you a credit score, but you are not obligated to do so!  Decline the offer and obtain your credit report from each of the three credit reporting agencies – Experian, TransUnion, and Equifax. You can print each report as well as save it to your computer.

Facts You Should Know

  • www.annualcreditreport.com
  • Obtain a credit report from each of the three credit reporting agencies – Experian, TransUnion, and Equifax
  • If married, obtain these three credit reports for each of you
  • Review carefully for accuracy

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Keep the Main Thing the Main Thing – Acts 6

Have you ever been involved in a big project? I mean a big project! One with large quantities of work, assignments, people, and deadlines involved?  If you have been associated with a number of projects like this, I can virtually guarantee you have experienced the “mired-in-the-details-I-have-no-clue-about-what-is-going-on” leader.

This is the type of leader who, when leading a project similar to solving world-hunger, will spend fifteen days determining what type of tablecloth to have at a fund-raising dinner. A leader who, when leading a project to build a new school, will spend seven days figuring out the number of pounds of clay it will take to bake the brick it will take.

Most of the items the project leader focuses on ARE important, it is just not important for them to figure it out!

They have forgotten to keep the main thing the main thing!

I believe all people have found themselves stuck in the details at some point.

Examples include:

  • Polishing up the entire house for Thanksgiving dinner, but forgetting to put the turkey in the oven.
  • Making sure the children are delivered to and picked up from school on time, but never taking time to see how school is going.
  • Obtaining a huge promotion at work, but neglecting the entire family for three years to achieve it.

I see a great example of this in the Bible, Acts 6. The widows were being overlooked in the daily serving of food, and the disciples were being asked to attend to the widows. Was it important to feed the widows? Absolutely! However, what was the Main Thing for the disciples? Telling others about Jesus! So, what did the disciples do? They selected seven trustworthy individuals and put them in charge of serving the widows.

The disciples said it so well …  “It is not desirable for us to neglect the word of God in order to serve tables.”

Are you keeping the Main Thing the Main Thing?  Have you been distracted from the ultimate reason you have been put on this earth.  It is time to refocus!

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Biblical Financial Lessons – Ecclesiastes 5:10

This is a series that appears on a regular basis here at JosephSangl.com – “Biblical Financial Lessons”

Ecclesiastes 5:10Whoever loves money never has money enough; whoever loves wealth is never satisfied with his income. This too is meaningless.

This is an incredible statement, and every single person on planet Earth wrestles with this issue. We all must deal with money, and most of the time we simply do not have enough to buy all of the things we want. If we are not very careful, we will begin to pursue money and develop a love for it.

Marketers know this, and this is why they continually play upon the feelings of lack or scarcity. Of course, once you obtain the item they are offering, they must sell you something else. They move the “happiness” line again, and create another feeling of “you are nothing unless you have this one thing.” And for those who are in love with money and wealth, the cycle never ends.

Here is a great question to ask yourself:

“How much money is enough?”

If your answer is an actual number (such as $1 million), watch out! A great answer is “I have enough right now. I am so blessed!”

In Matthew 6:21, we read “For where your treasure is, there your heart will be also.” To avoid giving your heart over to the pursuit of money and “More. More! More!!”, employ these regular activities:

  1. State “I am so blessed!” at least once each day.  Tell someone WHY you are blessed.
  2. Give money away. Giving keeps me from being greedy and connects my heart to the organizations and individuals I have given to.
  3. Pray. Prayer helps maintain focus on what is most important.
  4. Serve others. Serving others allows me to see that the world does not revolve around me and ensures that I live an open-handed life focused on helping others!
  5. Document your blessings.  When you write down the blessings you have in your life, it opens your eyes to just how blessed you really are!!!

Application Questions

  1. Are you giving money away?
  2. How are you serving others?
  3. Have you written your blessings on paper lately?

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Sangl Home Pay-Off Spectacular – September 2012

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:  1211   1231

Squares Remaining:  1215   1195

% of House Owned By The Sangl’s:  49.9% 50.8%

% of House Owned By Wells Fargo:  50.1%  49.2%

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

Another 20 squares this last month! We now own more than HALF of our house. Even though we now own 50.8% of our home, it is interesting to look at our monthly payment and see that interest still accounts for 56.2% of our regular monthly payment. It FIRES ME UP even more to eliminate this mortgage!

YOU can do it too! I challenge you to start your own home pay-off spectacular using our free tool here => Pay Off Spectacular – House.

Read previous Sangl Home Pay-Off Spectacular Updates

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