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Free Personal Finance Tools

It is my passion to help people accomplish far more than they ever thought possible with their personal finances. One key way I am able to help fulfill this personal mission is to offer outstanding personal finance tools for FREE. If you haven’t checked them out in awhile, you really should! They are located HERE.

On the Tools page, you will find:

  • Budgeting Tools  Monthly, Bi-weekly, Bi-Monthly, Weekly, and Irregular income planning worksheets
  • Debt Tools  Debt Freedom Date calculators, Actual Cost of Debt calculators, and Early Pay-off calculators
  • Saving Tools  Known, Upcoming Non-monthly Expenses calculator, Savings account balance tracking tool, and investment calculators
  • Spectaculars  You just have to check them out – especially the Llama Pay-Off Spectacular

These are the very tools my bride and I used to win with our money – eliminating our non-house debt in 14 months and our house debt in less than 6 years!

There are nearly 100 tools – and all of them are FREE. Get yours NOW and take charge of your money!

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Featured Tool Of The Month – Known Upcoming Non-Monthly Expenses Calculator

Do you ever feel like your finances have been side-swiped by a major expense, and that sudden expense causes immense stress and pain?

Chances are that you have, and it probably was a “Known Upcoming Non-Monthly Expense.”  The key word in that phrase is “non-monthly“.  Because it is not a monthly expense, it can tend to become an “out of sight – out of mind” item that seems to appear suddenly out of nowhere.

Think about it. Have any of the below items happened to you before and created a financial emergency?

  1. Car tires need replaced
  2. Sickness that created enough hospital bills to consume the entire insurance deductible (or worse yet – happened without insurance)
  3. Heating & Air went out
  4. Christmas
  5. Vacation
  6. Annual life insurance premium
  7. Annual property taxes

Just go ahead and say, “Yes, I have!” because we ALL have experienced one or more of these scenarios.

Here’s the solution – use the “Known Upcoming Non-Monthly Expenses Calculator” to transform your “non-monthly” expenses in “monthly” expenses.  See the example below:

Do you see it?  By converting the “non-monthly” expenses to a “monthly” expense of $579 every month, you have substantially lessened the impact on your budget!  Instead of having to suddenly come up with $1,200 when the annual property tax bill arrives, the money will just be there!

TIPS:

  • Be sure to recalculate your monthly savings number at least once per year
  • Don’t forget more long-term expenses such as college, weddings, vehicle replacement, and major home renovations
  • Set your savings for these expenses AUTOMATIC – by establishing an auto-draft

NOTE: This tool and dozens more are covered in more detail in my book, I Was Broke. Now I’m Not.

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I Was Broke. Now I’m Not. APP

I’m excited to announce that our APP has been updated to include the most requested feature – The ability to sync your budgets across multiple phones/devices!

Our APP is available FREE for all Apple mobile products including iPhone, iPod Touch, and iPad as well as all Android mobile products!

Download the APP now:

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Check Out The FREE Tools

How long has it been since you checked out the FREE (HERE) financial tools available via the I Was Broke. Now I'm Not. website?  Chances are pretty good that there are several tools that can really help you take your finances to the next level – and they are FREE!

It is our passion to help others accomplish far more than they ever thought possible with their personal finances.

This passion is the reason we offer the free tools.  It is the reason I write a blog post about personal finances every day.  It is the reason that I write a weekly newspaper column.  It is the reason I travel the nation speaking and teaching.  It is the reason that I wrote I Was Broke. Now I'm Not. and its related Group Study.  It is the reason that I am writing a book directed toward those young people who are about to embark on their big adventure into the real world.  It is the reason that we offer free financial counseling through over twenty churches (and increasing!).  It is the reason that I have been training team members at every single live event.

I'm FIRED UP and sold out to this God-given call on my life.

However we can serve you, it is our honor.

How Much Money Do You Need To Retire Well

Do you know how much money you will need to retire well (independent of Social Security)?

There are many ways to calculate an estimate, but I really like the Retirement Nest-Egg Required calculator that we have placed in the FREE TOOLS section.

To calculate your number, you will need to know two numbers:

  • The annual amount you want to live on at retirement (in today's dollars)
  • The number of years until you retire

Suppose one wants $50,000/year (today's dollars) during retirement and plans to retire in thirty years.  Punch the numbers into the Retirement Nest-Egg Required calculator and this is what you will see:

 

Because inflation erodes the spending power of money, the annual amount we want must be adjusted.  Using an assumed inflation rate of 4%, one will need $162,170/year in thirty years to have the same spending power of $50,000 today.

At different rates of return, you can see different amounts that need to be saved.  Eight percent is a common rate of return on investment that financial planners use.

What is your number?  Are you going to achieve it?

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New Pay-Off/Savings Spectacular – Harley Davidson

I am pleased to announce that we have added a new Pay-Off and Savings Spectacular for a Harley Davidson motorcycle on the "Tools" page and on the "Next Steps" site.

 

Thanks to Jessica M. in Orlando, FL for the idea!

Click HERE for the Pay-Off Spectacular.

Click HERE for the Savings Spectacular.

We love hearing ideas from the tribe of folks who are yelling, "I was broke. Now I'm NOT!"  If you have a suggestion for a pay-off or savings spectacular – send it in HERE.

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New Savings Spectacular – Disney

I was asked by a reader of this wildly popular blog (his name is Jeff from Cheyenne, WY) to prepare a Savings Spectacular for Disney.

So my team got on it – and it is HERE!

 

There is NOTHING like going to Disney and paying cash for the entire trip!

Saving up for something?  See if we have a Savings Spectacular for it HERE.  If we don't have it, send us an e-mail and ask for it!

How Healthy Are Your Finances?

I saw that title on an article link at CNNMoney's personal finance website, so I clicked on it.

The link leads to a great tool that helps you evaluate your current financial condition – then it gives you a report card grade.

Check it out HERE

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Upgraded Tool – Actual Cost Of Debt

The IWBNIN team has upgraded the "Actual Cost of Debt" tool.

The upgrade was made to include the "Debt Freedom Date" in its calculation as well.

Do you know how much your debt is costing you?  Use this tool to find out, and then work to reduce the interest rates by restructuring your debt

Known, Upcoming Expenses

I was recently asked for a list of common Known, Upcoming Non-Monthly Expenses, and I thought I would share the list with you.

  • Christmas
  • Vacation
  • Car Maintenance and Repairs
  • Home Repairs
  • Property Taxes (House, Cars, Boats, etc.)
  • Medical Insurance Deductible
  • Annual Membership Dues/Fees
  • Annual/Semi-Annual/Quarterly Insurance Premiums
  • Home Schooling Expenses
  • Gifts (Anniversary, Birthdays, Weddings, Babies)

I save all of this money in an On-Line Savings account that pays great interest, has no minimum balance, and is FDIC-insured.  I have money in three different on-line banks.  You can check them out HERE.  You can even set up these accounts to automatically draft you checking account on a monthly, weekly, bi-weekly, or bi-monthly basis!  NICE!

What other Known, Upcoming Non-Monthly Expenses would you add?

Related Tool

Should You Refinance?

I ran across a "Does It Pay To Refinance?" Calculator at CNN Money recently.

You can access it HERE.

This is an excellent tool to use if you are considering refinancing your mortgage! 

FLE in Greensboro, NC this Saturday!

I am PUMPED to be carrying the crusade to Greensboro, NC this coming Saturday, November 1st!

I will be teaching the Financial Learning Experience at Saint Pius X in Greensboro.

You can register for the FLE by calling the Saint Pius X church office at [336] 272-4681.

If you are in the Greensboro area, I would love to see you there!

See other Upcoming Events where Joe will be speaking HERE.

Great Leadership Book – Tony Morgan

If you are a leader or are developing yourself to be a leader, I highly recommend you jump over to Amazon.com and pre-order Tony Morgan's new book – Killing Cockroaches.  Tony serves as the Chief Strategic Officer on the Strategic Management Team here at NewSpring Church, and he is freakishly smart when it comes to leadership and strategy.  As a plus, he is a funny.  I would also subscribe to his website.  His blog is on my short list of every day must-reads.

Oh, and this other no-name guy named Andy Stanley wrote the foreword for Tony's book.

Watch a GREAT introduction to Tony's book by clicking on the YouTube video below

While you are at it, you might want to pick up Tony's other three books on strategy that he co-authored with Tim Stevens.

   

Find other great resources at the I Was Broke. Now I'm Not. Amazon.com Resource Center.

Home Group Study

I am on a crusade to help others accomplish far more than they ever thought possible with their personal finances.  I am on a mission to teach 100,000 people by October 2011 (first five years of doing this full-time).  This home group study helps allow me achieve the mission.

I am a huge believer in learning within the bounds of a home group.  It is where I can engage in vigorous debate, be challenged in my own personal thoughts, and be held accountable to personal goals.

I can't wait to hear the stories of life-change that take place all because small groups of people decided together to take their finances to the next level.

Deadlines. Deadlines. Deadlines.

Observed on a sign …

"God please help me through this totally self-imposed deadline."

I have many times implemented a self-imposed deadline and allowed it to create stress in my life.

Deadlines are good.  But when the deadline prevents me from ensuring that I do what is URGENT AND IMPORTANT first, then it is terrible.

Are you working on things that are URGENT AND IMPORTANT today or are you allowing all of the self-imposed deadlines to rule your schedule?

Perhaps the Time Budget - By the Half-Hour or Time Budget - By The Hour from the TOOLS page will help you take control of your schedule again!

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