Archive for November 2012

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 Christmas 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 the ones we recommend HERE). Figure out how much you should save each paycheck by using our “Known, Upcoming Non-Monthly Expenses Calculator.”

Read recent posts

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.

Read recent posts

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)

Read recent posts

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)

Read recent posts