Archive - November, 2012

What Are Your Dreams?

I am passionate about helping people accomplish their dreams. It is the entire reason for my life’s passion statement: “To help people accomplish far more than they ever thought possible!” Most people have no idea of the real potential they possess. One reasons for this is because they have never taken the time to write down their dreams and challenge themselves to take the necessary actions to accomplish them.

Today, I want to try something new. I am asking you to take just a couple of minutes and share the dreams you have for the rest of your life. It is completely anonymous, so please be real and honest. I believe that if most of us were truly open and honest, we all have at least one HUGE DREAM that we have never dared tell anyone for fear of what others might say.

Would you please share your dreams with me?

 

Can’t see the form? Click HERE to view it as a separate web page.
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Record Powerball Lottery

As I write this post, a record Powerball lottery drawing is getting ready to be held. The jackpot drawing is estimated to be $550 million. After paying taxes, the winner(s) will receive only an estimated $360.2 million.

Thinking about being handed a huge amount of money, people begin to dream.

  • If I had that sort of money, I would do …
  • I would go …
  • I would give …
  • I would quit my job.
  • I would never work again.

Many people believe that things would be different “if they were rich”. I have found that money only magnifies who you really are. I have heard many people say that they would be very generous if they were rich, but they aren’t giving any money away in their current circumstances. Their lack of generosity would not change much even if they gained substantial money. On the other hand, if one currently lives a life of generosity, that person would also be very generous should they gain tremendous wealth.

Want evidence? Just look at the lives of famous people – actors, athletes, and highly compensated business people. Money only AMPLIFIES who they were before they achieved wealth.

If you want to be an awesomely great rich person, be a great person on your way to building your wealth!

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Teach Your Child About Money In 10 Minutes

A few days ago, I asked this question:

“If you had just 10 minutes to teach your child(ren) about money, what would you teach?”

The responses were incredible! Here are a few of my favorites:

  1. Lesson number 1; spend less than you make. Lesson number 2: Make sure you give and save every month.
  2. You haven’t got to spend every dime you get….:)
  3. It’s very important to take advantage of compound interest over time, so START SAVING EARLY and avoid debt as much as possible, especially early in your career. This will save you a lot of grief and stress in later years, plus free up money to be able to be a generous giver.
  4. What my Dad always told me…”A sale is not a sale if you don’t have the cash to pay for it.”
  5. “Everything in the heavens and earth is yours, O Lord, and this is your kingdom. We adore you as being in control of everything. Riches and honor come from you alone, and you are the Ruler of all mankind; your hand controls power and might and it is at your discretion that men are made great and given strength” -1 Chronicles 29-11-12  I would start w/ this verse…reminding them of it in the day to day life that we live together in our home…and then, i’d look around our home and show them that just as everything in our house that belongs to mom and dad…is all stuff they use everyday (tv, beds, hot water, food, etc.) is all stuff that we are glad for them to use w/ care and thankfulness…And in reality, it is all God’s and we want to use it w/ care and appreciation. Until any of us first deal w/ who God is and what is our response to who He is…all the teaching about dollars, budgetting, all the wise money skills…won’t really teach them the most important heart issues…ownership and response…  This is what we did w/ our kids and all 3 of them seem (as young adults in their 20’s) to have a great heart for thankfulness, a joyful attitude about giving and seem to handle their money wisely…
  6. Debt means somebody else gets your money!
  7. 1. Income – Outgo = ZERO every month, every time.  2. 10% to God, 10% to savings at a minimum, every payday, every time.  3. Memorize these two website addresses and visit them often: www.joesangl.com and www.daveramsey.com  End of lesson.
  8. Save most, and spend some. Save for a rainy day, as the old saying goes.
  9. You don’t own your money, you’re just a manager. Make it grow. Be ready to let it go. Give away more than you think you can.
  10. Always pay your tithing- the Lord will provide.

Those are 10 of our favorite responses! Do any of these responses connect with you?

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Joseph Sangl’s Current Investments – November 2012 Update

Anyone who has attended a Financial Learning Experience has heard me say that it is important to INVEST money and to do so every single time you are paid money. At the end of our live events, I am regularly asked or emailed the following question:

“What investments do you recommend?”

My answer is always, “I don’t recommend specific investments. I can only tell you the investments I own, and they have worked well for me. The investments you choose are up to you.”

Occasionally, I update everyone on the investments I currently hold. Below is a chart of the current investments we hold. If it is publicly-traded, I have included the ticker symbol. Click on the chart itself (or HERE) to see a larger version.

In my last update on March 30, 2011, I shared that I was focused on diversifying my investments beyond publicly-traded instruments (stocks, bonds, mutual funds, ETFs, etc.). The below chart shows continued progress as a result of that focus.

Can’t see the chart? Click HERE.

My Thoughts:

  • It is vitally important to maintain margin. Cash on hand is essential to the long-term success of any effort – personal, small business, or large business. As a result, you can see strong cash holdings.
  • Some of these funds are not open to the general market, which is why they do not have a “Ticker Symbol”, but I am able to invest in them through my previous employer’s 401(k) plan.
  • One reason I hold so many mutual funds is because of a variety of 401(k), 403(b), Roth IRA, and 529 holdings – each plan has different mutual fund selections available.
  • I do not “eat, sleep, and breathe” the stock market on a daily basis. I update my net worth once per month, but rarely jump in and out of funds. Day trading is definitely not for me.
  • Our small businesses are growing – and we are putting people to work! That FIRES ME UP!

I would love to hear your thoughts on these investments!

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If You Had 10 Minutes To Teach Your Child About Money

If you had just 10 minutes to teach your child about money, what would you teach? Share below! I will share some of our team’s favorites throughout the next few weeks!

Can’t see the form? Click HERE to view it.
 

Learn How To Avoid Going In The Red On Black Friday!

I am passionate about helping you win with your money. If you have consistently overspent on Black Friday (or through the rest of the year) you CAN change that! I used to spend WAY MORE than I planned to – until I discovered tools that put a stop to overspending and helped me prosper. It changed my life so much that I have written two books and accompanying study guides to help others experience the same freedom!

To celebrate Black Friday, I have had our team prepare two special offers. They could make a perfect gift for someone or even as a gift for yourself!

SPECIAL OFFER #1  Purchase the I Was Broke. Now I’m Not. study kit and receive Oxen (my newest book) for 40% OFF! (Perfect for those looking to take a next step in their finances). Click HERE to view this offer.

SPECIAL OFFER #2 Purchase the What Everyone Should Know About Money Before They Enter The Real World study kit and receive Oxen (my newest book) for 40% OFF! (Perfect for young people just starting on their money journey). Click HERE to view this offer.

How To Stick To Your Christmas Budget

Is it a challenge for you to stick to your budget while shopping for Christmas? If so, then here is a great way to ensure you do not overspend this year!

1.  Using the Mini-Budget, prepare a list of each person for whom you are planning to purchase a gift.

2.  Next to each person’s name, enter an amount that you are planning to spend for their gift.

3.  Look at the total amount of the gifts and ensure it fits within your plan. Make necessary adjustments.

4.  Enter the “Total Income” to make “INCOME – OUTGO = EXACTLY ZERO” and pull the money out in CASH to ensure that you do not overspend!

While this seems really basic and simple, it has really helped my family stick to the plan and ensures that our Christmas spending will not rob the joy of the season from us!

Here are a few additional tips for your Christmas budget:

  1. Home made items are way cheaper and usually end up meaning a lot more
  2. You are not REQUIRED to spend gadzooks amount of money for Christmas – especially when you are working your way out of a financial mess!
  3. Using cash and putting away the credit/debit card will ensure that you do not overspend!
  4. Facing a cash crunch this Christmas because you did not really save for it? Commit now to save every single month for Christmas 2013! You can set up a “Christmas Club” automatic savings account at your local bank or through an on-line bank (like Capital One 360 or ALLY). Figure out how much you should save each paycheck by using our “Known, Upcoming Non-Monthly Expenses Calculator.”

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U.S. National Debt Update – November 2012

The US National Debt has increased by $335,485,950,772 since our last update on August 9, 2012.  Another three months, and the United States has dropped another cool $335 billion in the hole.

National Debt as of 11/11/2012

$16,251,300,408,691

That is an increase of $3.568 BILLION PER DAY since our last update 94 days ago.

I continue to stand by the following statement.

Whether we choose to address this problem as a nation or not, we WILL have to deal with it. We are really being faced with one of two decisions:

  1. Face the problem now by making some really tough choices  Like reducing some great programs or potentially eliminating some of them. NONE of us like to reduce spending. It is NO FUN. It STINKS. But we all have faced this in our personal finances before. Of course, we want to let our children participate in any activity they enjoy, but sometimes we have to say NO because of the costs! Of course, many people would love to have a huge house with every amenity known to mankind, but sometimes it is just not possible to maintain the financial burden required to maintain it!
  2. Let the problem fester until we are FORCED to make the tough choices  Whenever I have let the clock run out on tough financial decisions, I have found that my options have been severely reduced and the pain is much greater. I’ve always found myself saying, “I wish I had made this decision sooner.”

I wonder which decision the American citizens will make.

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SERIES: How To Be Broke – Part 05

Welcome to the latest series here at the wildly popular JosephSangl.com! In this series, I will be sharing the top ways that people end up being financially broke. If you want to be BROKE, be sure to follow every single one of these tremendous ideas. On the other hand, if you want to win with your money – do the OPPOSITE of these amazing tips!

Part 05  Spend all of your money.

This is perhaps the greatest tip of all! If you really want to be broke (and remain that way for the rest of your life) then you must spend every single dollar you receive. After all, there are just so many awesome things you can buy with money right now!

To ensure you are prepared to tell crazy financial teachers like Dave Ramsey, Joseph Sangl (me!), and Suze Orman why it is impossible to save money, I have provided some great ways to justify spending all of your money:

  • “I saved $50 on this purchase!” (This ensures you SPEND your money to SAVE money – think about it!)
  • “I just don’t earn enough money to be able to save or invest.”
  • “There will be plenty of time to save money later. I don’t need to worry about that right now.”
  • “Compound interest is really confusing. So are mutual funds, 529 plans, 401(k), 457, 403(b), RSP, TSP, SEP-IRA, and Roth IRAs.”

Tell your children that you had to pay for your own college, so they will have to as well. Continue the family legacy of spending every single dime that is earned and leaving no inheritance. After all, we wouldn’t want to “spoil” our children with an inheritance. After all, we worked too hard for that money just to give it to those kids. They can make it on their own.

Apply all of these principles while spending all of your money, and you will be sure to be broke!

QUESTION: What are YOU doing to ensure that you SAVE MONEY every single time you earn money? I recommend making your savings AUTOMATIC by having it drafted from your paycheck directly into a retirement, college savings, or bank savings account!

Read the entire series (available after 11/18/2012)

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SERIES: How To Be Broke – Part 04

Welcome to the latest series here at the wildly popular JosephSangl.com! In this series, I will be sharing the top ways that people end up being financially broke. If you want to be BROKE, be sure to follow every single one of these tremendous ideas. On the other hand, if you want to win with your money – do the OPPOSITE of these amazing tips!

Part 04  Let your spouse handle all of the money and money decisions.

This is a great way to become broke! Refuse to participate in any money related decisions. Here is a great list of excuses you can use:

  • “My spouse is just so much better with money than I am.”
  • “Dealing with money stresses me out and gives me a headache.”
  • “They spend most of it so let them deal with it.”
  • “As long as I have enough for what I want, do whatever you want with the rest.”

Since we know that financial struggles and divorce are at least first cousins, be sure to shut down when your spouse wants to discuss the finances. Let them carry all of the load themselves. Marriage is grand. Divorce is at least a hundred grand. This is a sure-fire way to ensure you remain broke.

QUESTION: If you are married, do YOU truly work together with your spouse on money related decisions?

Read the entire series (available after 11/18/2012)

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SERIES: How To Be Broke – Part 03

Welcome to the latest series here at the wildly popular JosephSangl.com! In this series, I will be sharing the top ways that people end up being financially broke. If you want to be BROKE, be sure to follow every single one of these tremendous ideas. On the other hand, if you want to win with your money – do the OPPOSITE of these amazing tips!

Part 03  Never say NO!

It is no fun to say the word “No!” anyway. We don’t like to say the word to our children, and we definitely don’t like saying it to ourselves! So, stop saying, “No!” Just give in to everything that you, your spouse, and your children want.

  • Buy another video game (because they only have 91 already – with three different game consoles)
  • Purchase another toy (and watch them play with the box more than the toy itself)
  • Buy a new car (even though the other car was just fine – and nearly paid for)
  • Go out to eat for the 20th meal this month (at TRIPLE the cost of a home-cooked meal)
  • Go to the movies multiple times (at the low low price of a movie ticket – and a big-gulp soda)

On the other hand, let’s use the word “No!” for one thing: Saving for the future. Say “No!” to putting money into the retirement account and college fund. “Just say no!” to saving money for future plans, hopes, and dreams.

Employ these great tips, and you will be on your way to being completely broke!

QUESTION: Did you know that sometimes “No” means “Yes”? Click HERE for a thought that could revolutionize the way you view saying, “No!”

Read the entire series (available after 11/18/2012)

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SERIES: How To Be Broke – Part 02

Welcome to the latest series here at the wildly popular JosephSangl.com! In this series, I will be sharing the top ways that people end up being financially broke. If you want to be BROKE, be sure to follow every single one of these tremendous ideas. On the other hand, if you want to win with your money – do the OPPOSITE of these amazing tips!

Part 02  Never prepare or follow a budget.

Budgets stink. They are terrible. Here are all of the reasons budgeting is awful and should be avoided on our journey to be broke:

  1. Budgets require time
  2. Budgets are hard
  3. Budgets make us face reality (that INCOME – OUTGO = EXACTLY ZERO)
  4. Budgets remind us that dreams cost money
  5. All a budget will do is remind us that we are broke anyhow (and we don’t need a budget to know THAT)
  6. Budgets require us to do math (and many believe Satan invented math – and he absolutely invented calculus!)
  7. Only poor people have to do a budget
  8. Budgeting only leads to fights with my spouse
  9. I don’t earn enough money to budget

In your journey to live a financially broke life, make sure you live, breathe, and believe these reasons as truth. Refuse to believe that life can be a grand adventure and that your needs and dreams can be funded.

QUESTION: Do YOU have a written budget? We’ve taken all the hard part out of budgeting with our FREE BUDGET TOOLS.

Read the entire series (available after 11/18/2012)

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SERIES: How To Be Broke – Part 01

Welcome to the latest series here at the wildly popular JosephSangl.com! In this series, I will be sharing the top ways that people end up being financially broke. If you want to be BROKE, be sure to follow every single one of these tremendous ideas. On the other hand, if you want to win with your money – do the OPPOSITE of these amazing tips!

Part 01  Refuse to have a written plan for your life.

One sure way to ensure that your money is not maximized is to refuse to dream about what your life could be. You see, written dreams and goals can be very troublesome because they help you recognize their power and cause you to understand just how much each one will cost. This is never good if you are choosing to be a financial failure. To ensure you remain broke, choose to ignore your life. Walk unconsciously through each day. Say unhelpful things like:

  • “I’m just trying to make it through the day.”
  • “I’ll never be able to afford that.”
  • “Life is not fair.”
  • “Why is that person blessed, but not me?”
  • “The light at the end of the tunnel is just an oncoming train.”

In your quest to be broke, choose to ignore the fact that every day is a gift and instead complain about everything that is wrong. Instead of making progress toward a dream, spend your time pointing out all the reasons why achievement of the dream is not possible or choose to envy someone else who has accomplished their dream.

QUESTION: Do YOU have a written plan for your life?

Read the entire series (available after 11/18/2012)

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Are You Ignoring The Warnings?

I was traveling in Canada recently and experienced a unique moment.

As I was standing in Canadian Customs, I observed a young child carrying a carton of cigarettes that had two unique warnings on it:

  1. “Smoking kills”
  2. “Smokers die younger”

It has been proven beyond a shadow of doubt that these warnings are true, so it was sad to see a child carrying this carton for their parent who was ignoring the warnings.

The same is true for our finances. We see warning signs, but too many times we choose to ignore them. Warnings like:

  1. Money fights are the number one cause of divorce
  2. Bankruptcy once equals a second bankruptcy in 50% of cases
  3. No savings equals no margin equals STRESS
  4. No budget leads to blown money and opportunities
  5. No plan leads to an unfulfilled life

Yet, we choose to ignore the warnings. Just like the smoker decides to stop smoking when diagnosed with lung cancer, emphysema, or heart disease, we choose to start saving when we are laid off of work. We finally start saving for retirement when we realize we are five years away from retirement age. We finally want to start talking with our spouse about money after they finally have enough of our terrible money decisions.

QUESTION:Should your finances have a warning label on them? If so, what would the warning label say?

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Sangl Home Pay-Off Spectacular – November 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:  1252  1329

Squares Remaining:  1174  1097

% of House Owned By The Sangl’s:  51.6%  54.8%

% of House Owned By Wells Fargo:  48.4%  45.2%

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

I shared last month that things were going to get really interesting around the Home Pay-Off Spectacular over the next few updates. We were able to color in 77 squares this month! We are positioning ourselves to accomplish what once seemed impossible – paying off our house before the age of 40. Let’s see what next month holds!

YOU can do this too! 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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