Archive for November 2015

JOB ALERT! WE’RE HIRING!

JOB ALERT!!  WE’RE HIRING!! 

I’m so excited about what is continuing to happen through the I Was Broke. Now I’m Not. Team! We have an amazing team that is so passionate about helping people accomplish far more than they ever thought possible with their personal finances. We’ve seen our dream literally become a reality and EXPLODE (in an incredible way!) before our very eyes!! Over the years, our team has been given the opportunity to teach and speak to literally tens of thousands of people.

With this incredible growth comes the need for great people to help steward this tremendous effort. That’s why we are currently hiring a RESOURCE SALES CONSULTANT. This is a full time position that is located in our Anderson, South Carolina office.

Learn more about this job HERE.

If you feel this role would be an incredible fit for you:

  • Send your resume to: info@iwbnin.com
  • Tell us why you would be an incredible fit for this role and our team
  • Include as many specific skill sets and abilities that you posses that would allow you to excel in this role

 

Challenge: Learn New Things

I love to learn new things!  If I learn something new every single day, then my life is very good.

I really want to challenge you to learn something new every day too. Here are some things I have learned that may help you out:

  • Insurance rates are much cheaper when bundled (auto & home; home & life; etc.) and for most people who have priced theirs out within the past couple of years, the savings could be $200 or more per year.
  • When you go to a dentist or doctor, you can negotiate the charges.  It is a service!!!  Many times, you can obtain a substantial discount on the amount you owe after insurance has paid its portion.  I have saved 10% twice and 6% once, each saving me $100s of dollars!
  • Use cash envelopes for spending categories that you tend to impulse on – groceries, dining out, clothing, spending money, entertainment.  We budget a set amount, pull it out in cash, and refuse to approach the bank again for the rest of the month.  When the money runs out, we’re done for the month!  It ensures you will NEVER overspend your budget!
  • Buy off-brands at the grocery store.  We have saved over $200/month since going to a cash envelope for groceries and purchasing the off-brands.  Off-brand milk tastes just like name-brand milk.  Off-brand Cheerios taste just like Cheerios.  Off-brand Froot-Loops taste just like Froot Loops.  Off-brand fritos taste just like Fritos.  I’m sticking with my Heinz ketchup, however.
  • Wait overnight on any purchase greater than $200.  I have not regretted this at all.  I have waited overnight on every large purchase, and it has really cooled the jets on some deals I might have made in the past.  This is a great way to avoid buyer’s remorse!  Wait.
  • Garage sales, yard sales, rummage sales, jockey lot sales, e-bay – are all great ways to find a great deal.
  • Fund some FUN with your tax refund.  I always make sure that we fund our summer vacation with our tax refund.  This ensures that I am going to follow the budget!  If my budget did not allow me to have fun, then it is quite likely that I would not be teaching this stuff!  I would certainly be less passionate about it.
  • Ask.  If you are going to spend a large sum of money on something, ask around for it first.  Somebody might have the very thing you are going to purchase and will sell it for pennies on the dollar or even give it to you!
  • Swap labor.  Help you friend or neighbor on their project and then have them help you out with yours.  No money.  Friendships are built.  Can you say WIN-WIN?

Can someone teach me something new today?  Add a comment below!

The Details Behind Term Life Insurance Application Process

Many people may know that they need term life insurance, but they do not clearly understand how the process works.  In the presence of unanswered questions, many people make a choice (a poor one) to do nothing.  My hope is that this post will help answer your questions about the term life insurance application process!

Acquiring term life insurance generally follows the following steps.

  1. Find term life insurance that fits your needs.
  2. Request and fill out an application (can obtain from your insurance agent or do this ONLINE)
  3. A nurse contracted by the life insurance company will contact you to set up an appropriate time for a health analysis (usually involves a blood test and a basic physical).
  4. Your application is either accepted or denied.
  5. If accepted, you will be provided your actual premium rate cost and the policy will go into effect once payment is made.

NOTE #1: Smoking and weight issues do not necessarily mean that you can not obtain life insurance, but it usually results in higher premiums due to increased health risks.

NOTE #2:  I carry 10 times my annual take-home pay in term life insurance in 20 or 30 year level term coverage.  For example, if a person makes $30,000 in annual take-home pay, then that would be $300,000 in term life insurance coverage.

Short-Term Urgent OR Long-Term Significant

I’ve noticed a trend in my life, and perhaps you have seen it as well in your own life.  It seems that things which are short-term urgent tend to trump items which are long-term significant.

Here are two common examples:

  1. Purchase a video game for our child (who already has 85 games) but there is no money saved for his college education
  2. Spend our money at yet another expensive restaurant (only to be hungry again 3 hours later), but refuse to save money for the health insurance deductible even though we know that we WILL get sick someday

This issue is best defeated by having a monthly budget (short-term plan) as well as a fully thought out “Plans, Hopes, and Dreams” list (long-term plan).

When you know the actual dream that is being sacrificed when faced with a short-term urgent item, there is a much greater likelihood that you will overcome that temptation.

QUESTION: What is the one short-term urgent item in your life that seems to keep destroying your finances and erodes your ability to fund your long-term dreams?

10 Ways You and Your Spouse Can Work Together To Make Better Financial Decisions

Our team is a huge fan of Stronger Marriages and it’s an honor to be featured as a guest on their blog today!

Make sure you check it out HERE – 10 Ways You and Your Spouse Can Work Together To Make Better Financial Decisions