Archive for October 2018

Joe Sangl’s Current Investments

Full Disclosure: I am not a certified financial planner, nor do I sell investments, insurance products, or other similar financial products. My goal in sharing this information is to shed light on a topic that few people understand well. It is my hope that this information will help inspire more people to climb the I Was Broke. Now I’m Not. Ladder (download a free copy HERE) and become wise investors so they can live fully funded lives.

Throughout the month of October, we have been heavily focused on investing. I wanted to end the month by sharing my current investments. I do not recommend specific investments. I can only tell you the investments I own, and that they have worked well for me. The investments that you choose are up to you. I update this list of investments every March so make sure you are on the lookout.

Below is a chart of my current investments – click on the chart itself to download a printable version.
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Want more tips like this one?  Subscribe to the Monday Money Tip Podcast HERE.

 

MMT PODCAST: Investment Fees

In Episode 22 of The Monday Money Tip Podcast, Joe and Megan continue the discussion on the topic of investing. Joe answers the featured question of the week about what types of fees are acceptable on investment accounts and give other important investment information. You will also hear a success story about a couple that paid off $45,000 in credit card debt. They did it and you can too!

It’s our goal at the end of each episode that you gain hope and encouragement in your financial journey, you’re equipped to take a next step, and that you’ve had FUN with us!

Find the Monday Money Tip Podcast HERE. Please let us know what you think by leaving us a rating!

NOW AVAILABLE TO DOWNLOAD:
iTunes
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Email info@iwbnin.com to ask questions or share success stories.

Show Notes

About the Episode:

  • Hear Joe answer the question, “I have investments and pay 1.35% in fees. What do you consider to be an acceptable amount to pay in fees? Should I ditch this investment for something lower cost?”
  • In our Current Money Events segment, Joe will share how you can make sure that you are prepared for your Christmas spending.
  • Hear how a budget helped a couple pay off $45,000 in credit card debt.

Resources:
IWBNIN Tools
Christmas Mini-Budget
Joe’s Current Investments
IWBNIN Ladder
Oxen Book
Net Worth Calculator

Quote of the Day: “There is no harvest if you do not invest.” – Joe Sangl

Links:
Vanguard
Charles Schwab

 

Prepare Your November Budget

November is only a couple days away so now is the perfect time to make sure that you have prepared your budget! It is so important to have your budget prepared BEFORE the month begins. You are way more likely to stick with the budget if you have a plan in place for the first day of the month.

Make sure you download one of our FREE Budget Tools. You can choose either the monthly budget or the weekly budget template from our website. After you have downloaded your tool, you can get started putting together your income and expenses for the month of November.

Step One: Enter your expected income for November. Put a number in that you KNOW is going to happen. If you should receive more money throughout the month, you can always adjust this number upwards.

Step Two: Enter your expected expenses for the month. Even if you do not know what all of your bills will be, put in a number that is conservative enough that you know will be enough to cover it. Once your bills actually arrive, you can adjust these numbers to match what you will actually need to pay. Make sure you also include any Known, Upcoming Non-Monthly Expenses. You can use this calculator HERE to make sure you are saving enough to cover these expenses when they come up.

Step Three: Make your INCOME – OUTGO = EXACTLY ZERO™. If your budget turns yellow or red, it is now time to start adjusting so that your budget turns green. You might have to make some uncomfortable decisions or even tell yourself “no” a couple of times this month. It will be worth making some sacrifices in order to finally have a working budget.

Make sure you take some time this weekend to get that budget put together so that when Thursday rolls around, you’ll be prepared for a new month. This could be the month that you have your first ever successful budget. How awesome would that be? It all starts with a plan so make sure you have yours in place!

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Want more tips like this one?  Subscribe to the Monday Money Tip Podcast HERE.

 

Ready to Save TONS OF MONEY?

One of the most popular questions I receive is: “How can I save some money?”

It is a great question. In fact, we’ve offered savings tips in live online events, blog posts, and on our “Next Steps” page on a regular basis. Our help is received with great enthusiasm! As well it should, because who doesn’t like learning ways to save money?

Recently, we conducted a 40-day Budget Challenge. It was an amazing journey that people from around the world embarked upon together. It turns out that we share common financial issues when it comes to budgeting!

We also learned once again that everyone loves to save money. It caused us to ask the question, “How can we help a lot of people save tons of money?” Our answers to this question led to the creation of our first-ever SAVINGS CHALLENGE!

In this 20-day challenge, we’re going to share 20 specific ways (one per week day) most people can save a lot of money in their budget. In fact, many who embark upon this challenge will save a minimum of $1,000 in their annual budget.

That is a lot of money!

I told our team I want to enable as many people as possible to be a part of this challenge. As many people as possible.

When you CLICK HERE to see the price, I think you’ll agree that it is priced way too cheap. But, hey, this is a savings challenge so I wanted you to start it out with some nice savings. If you’re one of the first people to register, you’ll be able to register at the ridiculously low price.

20-Day I Was Broke. Now I’m Not. Savings Challenge

  • When does it start? It will kick off on Thursday, November 1st and last the entire month!
  • How does it work? You will receive special teaching each weekday of the challenge! These tips will be sent to your inbox first thing in the morning, but you can watch them whenever is convenient for you on our membership site.
  • Can I get real help from the IWBNIN team? Absolutely! Our team is always here to answer any questions you may have. Upon registration, you will receive a special email address that will link you directly to an IWBNIN team member.
  • How much does it cost? This challenge is only $7.00!

 

Oxen

There was a point in my life where I came to the realization that I needed to find oxen in my life and start getting my money to work for me. From an average bank balance of $4.13, I have since acquired multiple oxen and experienced a truly abundant harvest. In my book, Oxen, I share these principles along with step-by-step instructions so that you too can win with your money. Check out this excerpt from my book and make sure you grab a copy for yourself.

“Where there are no oxen, the manger is empty, but from the strength of an ox comes an abundant harvest.” Proverbs 14:4

Imagine a farmer who was responsible for farming a full section of 640 acres, which is one square mile of land. Imagine if he decided to “do it all on his own” and attempt to plow all the ground without oxen. It doesn’t matter how strong and energetic the farmer is, it would be an impossible task. For me, just hoeing a small garden in my backyard wears me out! The farmer might be able to do enough work to produce food for the family to eat, but the potential for an abundant harvest would be impossible.

Don’t miss the point here because it is vital to understanding oxen ownership. A farmer knows it is impossible to reap an abundant harvest without oxen. The same is true for all of us even if we aren’t farmers.

If I continued managing my money without the help of financial oxen, the opportunity for an abundant harvest would be greatly limited. After all, there was only so much I could accomplish on my own. Like most people, I was working a “Work, get paid. Don’t work, don’t get paid.” job. Even if I worked twelve hours every day, there was a limit to how much I could earn on my own. My earnings would allow me to feed my family, but without a serious change to the way we managed our money, the income would probably only be enough to maintain our household. We would continue to be stuck in the “empty manger” cycle cleaning out the manger each month and then standing around waiting for the next paycheck to arrive. The worst realization of all was knowing that even if I worked the next fifty years of my life, my income would cease the moment I chose to retire. It became imminently clear that I needed oxen in order for my family to experience abundance.

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Do you want to learn more about how you can acquire and maintain oxen? You can get my book Oxen for 20% off plus free shipping by clicking HERE. Offer valid through the month of October of 2018