How to Prevent Overspending

Happy Monday! It’s my favorite day of the week because another episode of the Monday Money Tip Podcast is LIVE! In this episode, we’re talking about how to prevent overspending. It’s easy to start the month out well by preparing a budget, but then life happens, and by the end of the month, the budget has been overspent. We’re sharing ways you can stop overspending today. In our Current Money Events segment, we’re updating you on a tax law change that has significant implications. Our success story comes from Kathy, whose credit score is now over 800!   

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

Email info@iwbnin.com to ask questions or share success stories.

NOW AVAILABLE TO DOWNLOAD:
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About the Episode: 

  • Today, we’re answering: “We always start out the month well. We prepare a budget, and it seems like we will be able to have a great month. However, by the end of the month, we’ve overspent the budget again. How do we stop overspending? Help!” 
  • In our Current Money Events segment, we’re updating you on a tax law change that has significant implications. 
  • Our success story comes from Kathy, whose credit score is now over 800!  

Resources:
20/20 Money: Gaining Clarity For Your Financial Future 
Free Financial Tools
Article: Tax Law Change
Free Budget Templates
Video: Cash Envelopes
Online Banks
IWBNIN Ladder

Impulsive Spending Categories:
Groceries | Restaurants | Clothing | Entertainment | Spending Money 

The Power of Coaching

It’s Monday and a new episode of the Monday Money Tip Podcast is LIVE! In this episode, we’re talking about how to stay consistent with your finances. At the beginning of the year, we all get fired up about making changes, but then something happens, and it feels like we lose all of the progress we’ve made. We’re sharing ways you can avoid this up-and-down cycle. In our Current Money Events segment, we’re updating you on the United States National Debt and how you can make a difference.   

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

Email info@iwbnin.com to ask questions or share success stories.

NOW AVAILABLE TO DOWNLOAD:
iTunes
Stitcher
Spotify
Website
YouTube

About the Episode: 

  • Today, we’re answering: “I need help! I get all fired up about making changes to my finances, and I usually get off to a great start. But then something happens, and it feels like we lose all of the progress we have made. How can I get out of this up-and-down cycle?” 
  • In our Current Money Events segment, we’re updating you on the United States National Debt and how you can make a difference.  

Resources:
20/20 Money: Gaining Clarity For Your Financial Future 
US Debt Clock
IWBNIN Ladder
MMT Podcast – Episode 61: The IWBNIN Ladder – Explained
Checklist For Being a Coach/Mentor


Letter to Representatives About US National Debt: 

I am increasingly concerned over the continued rejection of balanced budgets and refusal of both parties to address our national debt in any meaningful and substantial way. I have tracked our national debt on a continual basis since 2002. I remember seeing the national debt clock in New York in 2006 when our debt stood at $6.5 trillion. It has since tripled.

I am attempting to comprehend the laws surrounding our spending and budgeting. Are there any effective means that will help prevent this from continuing into the future?

I have spent the last 15 years teaching personal financial responsibility, budgeting, saving, debt management, and investing. I have traveled all over America, providing this education. At the core of this teaching is a fundamental equation: INCOME – OUTGO = EXACTLY ZERO It is the basic truth of economics for every family.

A family could never thrive by continually allowing their regular spending to outpace their income. How will it be possible for America?

Can you help me understand the tangible actions you have undertaken to address this issue? Also: What can I do to help?

Respectfully,
Joseph Sangl
Founder, I Was Broke. Now I’m Not.

Your Best Financial Year Yet

Happy Monday! It’s my favorite day of the week because another episode of the Monday Money Tip Podcast is LIVE! It’s a New Year and with that often comes new goals and resolutions. In this episode, we’re sharing some tips that could help you get off to a great start in 2020. In our Current Money Events segment, we’re updating you on banking stats, including mortgage rates, basic saving rates, and CD rates. Our success story today comes from Scott, who just became debt-free, including his house! In total, Scott paid-off $263,000!    

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

Email info@iwbnin.com to ask questions or share success stories.

NOW AVAILABLE TO DOWNLOAD:
iTunes
Stitcher
Spotify
Website
YouTube

About the Episode: 

  • Today, we’re answering: “I want to make a lot of progress with my finances in 2020. Can you share some tips that could help me get off to a great start?” 
  • In our Current Money Events segment, we’re updating you on banking stats, including mortgage rates, basic saving rates, and CD rates
  • Hear a success story from Scott, who just became debt-free, including his house! In total, Scott paid-off $263,000!

Resources:
20/20 Money: Gaining Clarity For Your Financial Future 
0% Balance Transfer Credit Card
Next Steps – Banking
Recommended Books
Joe’s Books

Top Money Questions – December 2019

Happy Monday and Happy (almost) New Year! It’s the last Monday of December, so we’re answering all of your top money questions on the Monday Money Tip Podcast. Questions today range from starting a small business to rental properties to long-term care insurance policies. In our Current Money Events segment, we’re discussing what you can do NOW to help you achieve your financial goals in 2020. Our success story today comes from Ms. Parker, who has been able to make huge progress on her debt elimination journey. 

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

Email info@iwbnin.com to ask questions or share success stories.

NOW AVAILABLE TO DOWNLOAD:
iTunes
Stitcher
Spotify
Website
YouTube

About the Episode: 

  • Today, we’re answering your top money questions from December, including questions about starting a small business, obtaining rental properties, and if purchasing a long-term care insurance policy is a good idea. 
  • In our Current Money Events segment, we’re discussing what you can do NOW to help you achieve your financial goals in 2020.
  • Hear a success story from Ms. Parker, who has been able to make huge progress on her debt elimination journey. 

Resources:
20/20 Money: Gaining Clarity For Your Financial Future
IWBNIN – Tools
Debt Freedom Date Calculator
IWBNIN Ladder
Debt Snowball – Video
MMT Podcast – Episode 18: How to Pay Off Debt Quickly
MMT Podcast – Episode 28: 8 Ways to Speed Up Debt Elimination
MMT Podcast – Episode 36: Bite-Sized Debt
BOOK: I Was Broke. Now I’m Not.
BOOK: OXEN: The Key to an Abundant Harvest

My Personal Rules for any debt arrangements relating to business investments:

  • I won’t finance anything that makes me lose sleep at night. 
  • I won’t finance anything that my bride doesn’t agree with. 
  • I won’t finance anything that prevents me from living generously. 
  • I won’t finance anything that prevents me from pursuing my family’s God-given plans, hopes, and dreams.
  • I must have a path to paying off the debt within five years.
  • I must have at least 50% ownership stake so I have the ability to take control of the investment.

Christmas Money

Merry Christmas! It’s a special Christmas edition of the Monday Money Tip Podcast. On today’s episode, we’re spending some time talking about how to have good money conversations during the holidays. In our Current Money Events segment, we’re discussing what it really means when we purchase a gift for someone. Our success story today comes from Rick, who has completely turned his financial situation around and is debt-free at the age of 47 years old.   

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

Email info@iwbnin.com to ask questions or share success stories.

NOW AVAILABLE TO DOWNLOAD:
iTunes
Stitcher
Spotify
Website
YouTube

About the Episode: 

  • Today, our featured topic is: “It’s Christmas time. We’re going to spend some time talking about how to have good money conversations during the holidays.” 
  • In our Current Money Events segment, we’re discussing what it really means when we purchase a gift for someone.
  • Hear a success story from Rick, who has completely turned his financial situation around and is debt-free at the age of 47 years old. 

Resources:
20/20 Money: Gaining Clarity For Your Financial Future 
Tools: Saving & Investing
Net Worth Calculator 

Quote of the Day: “That money talks, I’ll not deny, I heard it once: It said, ‘Goodbye.’” – Richard Armour, Poet