Are You A Leader?

You are a leader.

Did you know that?

You might be the leader of a business, charity, church, school, club, or a family.

The titles vary. Here are a few:

  • Father
  • Mother
  • Parent
  • Husband
  • Wife
  • President
  • CEO
  • CFO
  • COO
  • Pastor
  • Dean
  • Teacher
  • Owner
  • Board Member
  • Director

I’m convinced that if I were to look at each of the roles I serve in through a leadership lens, I would be more effective.

For example, it is common for me to share, “I’m the father of three children.” What if I said (and acted upon) the statement, “I’m leading three children.”?

It moves the statement from passive to active. You see, saying “I’m a father” only shares a historical fact. Stating “I’m leading” shares the need for ongoing attention and action!

It makes sense, doesn’t it? By saying, “I’m leading three children,” it indicates that I’m:

  • Actively involved
  • Required to set the example
  • Teaching them
  • Equipping them to become productive citizens!

Instead of saying, “I’m the CEO of I Was Broke. Now I’m Not., LLC,” it is much more weighty to say, “I’m the leader …”

Who and what are you leading?

NOTE: This post was written as part of the “Leadership” series here at the wildly popular! Click HERE to access all previous tips in this series.

Will Your Child Live A Prosperous Life?

Every parent wants their child to thrive in life – relationally, spiritually, physically, and financially! We want them to make a difference!

New parents would never say, “I really hope my child experiences tremendous financial hardship and maybe even bankruptcy.”

Yet many newborns grow into adults who experience tremendous financial hardship and, yes, even bankruptcy!

So what can a parent do to help their child thrive financially?

  • Give them money to start life out with?
  • Pay for their entire college education?
  • Buy them the latest and greatest technology?

All of these things can help a child grow up into a financially-savvy adult, but I believe there is one key factor that dominates all others when it comes to ensuring a child is equipped to win with money.

One Key Factor:  The parents live it themselves!

When parents model strong foundational financial principles for their children, it is the strongest form of teaching one can ever deliver!

Children learn most by imitating their parents! Think about it: If you are being silly and stick french fries up your nose at McDonald’s – your children will do it too. If you slam doors when you are angry, don’t be surprised when your child does it too!

So let’s get to some practical thoughts on this:

  1. You want your child to learn to save? Save money every single time you are paid. Take your child to the bank (even though it might not be as convenient as using the Internet or an app) and deposit the money. When your child receives money as a gift, challenge them to save some of the money into a piggy bank or clear jar – so they can visually see it accumulate.
  2. You want your child to be generous? Give money away every single time you are paid. Better yet, put the money in your children’s hands and have them donate it for you. Donate time at a great charity in your town and serve those who are less fortunate. Again, when your child receives money as a gift, challenge them to give some of that money away.
  3. You want your child to invest? Invest money ever single time you are paid – even if it is just a few dollars. Show retirement plan quarterly statements to your children.
  4. You want your child to budget? Prepare and live by a written budget that you prepare before each month begins! When your child receives any money, help them develop a written plan for each dollar they have received. Show them the power of “giving every dollar a name.”

I know some parents might ask, “When is the right time to share financial information with my child?”

It’s a great question. I’ve chosen to veer towards teaching them even when it makes their eyes twirl – and then I back down because I don’t want them to associate finances with feeling miserable.

Here’s a good general guide:

  • Age 1 to 2  Let them hold money they have been given. Let them help you put it into the piggy bank you have created. Use money as a basic counting exercise.
  • Ages 3 to 4  Let them cut a small item they want to purchase from a store ad. Help them pay for it with money they have saved. This is also a good time to begin a “chore chart” where they can learn the great “work = get paid; don’t work = don’t get paid” principle!
  • Ages 5 – 6  Expand the chore chart to include more detailed tasks. You can begin showing college savings accounts and investments at this age – just from a demonstration of “what Mommy & Daddy do” I even began bringing my daughter to meet with my financial adviser at this age. I just wanted her to “connect the dots” that her parents seek wisdom from others (this is a very important principle!)
  • Ages 7 – 8  Take your child to the bank and open a basic savings account for them. Teach budgeting basics (Income – Outgo = Exactly Zero; Give|Save|Spend; Spend less than you make; Save money for a rainy day) and require them to plan any money they receive. Let them deposit the money at the bank.
  • Ages 9 – 12  Continue to increase the chore chart. Begin explaining how mutual funds and stocks work. I chose to teach my daughter about mutual funds using companies she was familiar with (the company that makes her favorite cereal).
  • Ages 13 – 18  It is at this state that you can begin a “monthly allowance” that allows you to transfer financial responsibility to your child. This allowance can begin with requiring them to pay for their own school lunch and then increase it to responsibility for all of their clothing, food, and entertainment. The principal is simple: Require a budget before the allowance is distributed. Distribute the money. Conduct a review at the end of each month. Have a “lessons learned” conversation and then start over again the next month. Take your child with you to meet with an investing adviser.

What would you add to this list? What questions do you have?

You’re Invited! Special 2-night LIVE On-Line Event

I’m so thrilled to be hosting “How To Have The BEST Financial Year of Your Life” (a special LIVE On-Line Event) less than 1 week from now!

I’ve prepared a special presentation – one that I’ve never delivered before in a public setting – just for this event. My goal with this event is to help YOU have the most prosperous year you’ve ever experienced!

Here’s what you will learn during this event:

  • THREE KEYS to make 2014 the best financial year of your life!
  • Practical next steps you can put into place IMMEDIATELY
  • A MAJOR ANNOUNCEMENT regarding the launch of I Was Broke. Now I’m Not. Core Coaching Program – Wave 2

I’ve invited 33,475 people to this event. To accommodate as many people as possible, we are offering this event LIVE on two consecutive nights (see below details). You can register for either night, and I will be teaching it LIVE on each night. We’ve even changed up the times to serve various time zones and busy parents who might have trouble participating while their children are still up.

Will you be joining us? Just complete the simple REGISTRATION LINK below!


How To Have The BEST Financial Year of Your Life


Monday Money Tip: The Importance of Having a Will

I love it when my week starts off right! The Monday Money Tip was created as a weekly service to provide people just like you with a practical and simple money tip – right at the start of the week so that you can take action with it!

Register HERE (it’s free) to receive this weekly tip in your email box bright and early on Monday morning!

Current Events: United States Government Financial Dealings

If you are a resident of the United States of America, you should be paying attention to the financial dealings of our leaders.

Here’s why: Their financial decisions WILL affect you!

Here are some examples:

  1. Interest Payments  The national debt is just like YOUR debt – there is a BORROWER (the U.S.) and there is a LENDER (U.S. Citizens, Other Countries, and Outside Entities)  Like any debt, interest must be paid. The United States just completed its 2013 fiscal year with interest payments of $415,688,781,248.40!  Here’s a great question to ask: What ELSE could we have done with $415 billion?
  2. Credit Rating Reduction  The U.S. has had its debt downgraded by Standard & Poor’s on August 5, 2011 and Fitch has warned of a possible downgrade in October 2013. This will increase the amount of interest the U.S. will have to pay on new debt issues.
  3. You and I (the taxpayers) will have to pay up (and so will our children and grandchildren) Budget doesn’t force “Income – Outgo = Exactly Zero”  In fact, we PLAN to spend more than we make each and every month/year/decade. This is ridiculous and reflects a lack of financial education. Spending more than I make for months and years would never work for me personally, and it definitely won’t work for our government. I simply do not understand why a “balanced budget” is not a written and followed law.
  4. Your money is devalued  As the government prints more money, it devalues existing money. MANY MANY MANY times in history, this “let’s just print more money” approach has led to hyper-inflation and currency collapse (Argentina 1991 and Mexico 1994 are two examples – Greece, Cyprus, Ireland, and Spain are all experiencing similar issues leading to major devaluation)

Here are some helpful websites that can help one better understand the debt held by the United States:

  • Current U.S. Debt  This is the official debt number from the U.S. Treasury.
  • Monthly U.S. Budget Review  This is the official math from the non-partisan Congressional Budget Office (CBO)
  • U.S. Debt Clock  Provides many different perspectives of the current financial position of the U.S.

Actions YOU can take:

  • Email your elected representatives Tell them you want them to make wise financial decisions that position the U.S. to have strong financial fundamentals: (1) a balanced budget, (2) financial reserves, (3) debt reduction plan, and a (4) economic investment plan
  • Live these principles in your own life  We elect people who are a direct reflection of who we are. Right now, as a collective group, U.S. citizens spend more than they make. Consequently, so does our government. What if we, as a collective group, lived within our means? I believe we would elect leaders who represent those same values. By the way, this is not a Republican versus Democrat issue – it is a “We the people” issue!

My Favorite Thoughts This Year

Every now and then I have a thought that really strikes a chord within me. I usually write it down in Evernote. Here are a few of the personal finance thoughts that resonated with me this year:

  1. “I’ve rarely met a person who felt they could “afford” to save, but a few somehow navigate those feelings & save ANYHOW.”
  2. “I changed my life when I experienced an IHHE Moment – an I Have Had Enough! Moment!”
  3. “My favorite word to use is “Awesome!” My favorite 3 words to use are “I’m fired up!”
  4. “The facts are so obvious – those who invest: win; those who do not: whine”
  5. “It’s not a popular word these days, but “SACRIFICE” (1) gets people’s attention, (2) creates focus, and (3) unites people together!”

What is the financial thought that really stuck with you this year?

How To Have The BEST Financial Year Of Your Life


How To Have The BEST Financial year Of Your Life

SPECIAL INVITATION:  Join Joseph Sangl, founder of I Was Broke. Now I’m Not. for this special LIVE on-line event.

Dear Friend,

Henry David Thoreau once wrote this amazing quote: “The mass of men lead lives of quiet desperation.”

As I’ve traveled the United States and Canada teaching hundreds of thousands of people about winning with money, I’ve seen this to be true about many people’s financial situation. The mass of men are indeed living lives of quiet financial desperation! They are desperate for an answer to their financial challenges. They are sick of living paycheck-to-paycheck. They are exhausted from attempting to “just work more” to satisfy their financial needs. They are skeptical of who they can truly trust when it comes to the money they are actually able to save.

Let me ask you a question: Are you ready to have the BEST financial year of your life?

If your answer is “YES!” you definitely do not want to miss this upcoming special LIVE on-line event!


Every year, one of the top 3 New Year’s Resolutions involves money with goals like: “pay off debt”, “make more money”, and “save money.”

I truly believe you can have the best financial year of your life in 2014, and it is for this reason I’m hosting this event.

SPACE IS LIMITED FOR EACH OF THESE EVENTS  I do need to let you know that space is limited for each of these events. It is available to the first 1,500 people who sign up, and I will be sending this invitation to 33,475 people over the next few days.

Here’s what you will learn during this event:

  • THREE KEYS to make 2014 the best financial year of your life!
  • Practical next steps you can put into place IMMEDIATELY
  • A MAJOR ANNOUNCEMENT regarding the launch of I Was Broke. Now I’m Not. Core Coaching Program – Wave 2

If you are ready to begin living a fully funded life in 2014, you won’t want to miss this special event.

We’ll be offering this special on-line event LIVE on two consecutive nights! Here are the details:


Be sure to reserve your spot by filling out the registration link below:

Can’t see the sign-up form? Copy and past this website to your favorite browser to register on-line:

Consider inviting:

  • Parents
  • Grown children
  • Siblings
  • Work colleagues
  • Friends
  • Extended family members
  • Church members

Ways to invite:

  • Copy and share the following link on your Facebook page:
  • Share the following link on your Twitter feed:
  • Call or text your friends

Let’s transform the way this continent manages money!


Christmas 2013 Special Offer

Here’s a special offer for this Christmas! All three books I’ve written about personal finances PLUS a bonus audio book of Oxen – first time ever available!

You get all four of these resources for more than 30% off retail! Order by December 20th and receive by Christmas!


These three books by Joseph Sangl are a perfect 1-2-3 punch to help live a fully funded life!

BOOK: I Was Broke. Now I’m Not.

In I Was Broke. Now I’m Not., Joe shares about his own journey and then teaches the practical tools he used to win with money.

Tools taught in this book include:

  • How to plan for life!
  • How to develop a spending plan that actually works (a budget)
  • Strategies for eliminating debt
  • The date you will become debt-free
  • Amount of money needed for retirement
  • The power of compound interest
  • Investing
  • Insurance

BOOK: What Everyone Should Know About Money Before They Enter The Real World

In What Everyone Should Know About Money Before They Enter The Real World, Joe shares key money principles that every person should learn before embarking on their own journey with money. This book is perfect for students as well as young families facing their first major financial decisions!

Topics include:

  • Planning for life
  • Budgeting
  • Giving
  • Saving
  • Debt (with a specific chapter dedicated to Student Loans)
  • Credit Scores
  • Investing & Compound Interest
  • Insurance
  • Purchasing A Home

BOOK: Oxen – The Key To An Abundant Harvest

In Oxen, the topic moves toward maximizing the money you have! This book provides principles that will help you maximize your financial resources so you can experience an abundant harvest and fund your biggest dreams. You will learn how to:

  • Leverage the power of oxen
  • Identify and acquire oxen
  • Earn income even while you are not working
  • Measure and build net worth
  • Fund your dreams

Oxen is not a theory. It is timeless truth that has been applied by millions to achieve an abundant financial harvest. Your dreams are huge. They can be funded. Oxen will help you do it.

AUDIO BOOK BONUS: Oxen (included with purchase)

As a BONUS, this Christmas Special will include a special AUDIO version of Oxen with author Joseph Sangl as the narrator!

U.S. National Debt Update – December 2013

The US National Debt has increased by $755,668,013,559 since our last update on January 2013.  Another eleven months, and the United States has dropped another cool $755.7 billion in the hole.

National Debt as of 12/02/2013


That is an increase of $2.347 BILLION PER DAY since our last update 322 days ago.

BUT – FINALLY – There is SOME good news!

According to the Congressional Budget Office (, the United States has closed the deficit gap by more than 50-percent!


The deficit gap has been closed by several factors, including:

  • Increased tax revenues from a recovering economy
  • Increased tax revenues from new taxes
  • Decreased expenditures – due to sequestration

You can read the CBO’s entire report HERE.

If you aren’t already, I encourage you to become an informed taxpaying citizen. You CAN make a difference in the future decisions that are made regarding the fiscal decisions your elected leaders make.

Monday Money Tip – Free Service From I Was Broke. Now I’m Not.

Every single Monday, we offer a free money tip to help you take your finances to another level. The video below will offer more insight into the vision we have for the Monday Money Tip.

To receive your weekly Monday Money Tip,

Your Mondays just got a little better. Get fired up!

Happy Thanksgiving!

It is Thanksgiving in the United States, and I’m truly filled with thanksgiving! I’ve been blessed beyond measure.

Here are some key things I’m thankful for:

  • My bride  We celebrated 16 years of marriage this year!
  • My first daughter  She turned 14 this year. She’s a beautiful amazing person, artist, and athlete.
  • My son  He turned 3 this year. He is FIRED UP from about 5:00 AM each morning until about 10:00 PM every night!
  • My second daughter  She made her appearance just nine weeks ago. Amazing how beautiful she is!
  • The I Was Broke. Now I’m Not. Team  We’re growing in our reach and influence. It’s because of the incredible team that has signed on to help us take our message to the nations!
  • The INJOY Stewardship Solutions Team  This team is growing in its reach and influence too! It is amazing to be able to serve great leaders around the world through this 21 year old organization that was founded by Dr. John C. Maxwell. I can’t believe I get to lead this organization!
  • My family  All of my brothers, my parents, my bride’s parents and her brothers and sisters. All of the awesome nephews and nieces that are showing up make it even better!
  • My church  NewSpring Church has impacted my life in more ways than I can list. Indescribable to see what God is doing through this church!
  • Jesus  The ultimate example of generosity and giver of grace.
  • You  It’s an honor to serve you on your money journey. Every day we wake up and strive to live out our 15-word passion statement to help people accomplish far more than they ever thought possible with their personal finances!

What are YOU grateful for?

What To Do When You Are Behind On Bills

I’m behind on my bills. I feel stuck. What do I do to get caught up?

This is perhaps the most common question I experience during our live teaching events.

While the best answer for each family may vary, here are some of the most common ways to get UNSTUCK and gain financial margin:

  1. Sell something  What do you have that is worth $1,500 that would allow you to get caught up immediately? Put it on Craig’s List and generate cash to change your financial life!
  2. Work an extra job  Not fun, but this is not a “forever” option. Set a goal to produce an extra $2,000 within the next couple of months with a holiday type of job.
  3. Establish a budget  Without a plan, there will be no profit (Proverbs 21:5). Prepare a written budget for the month of December and make every dollar SCREAM!
  4. Go on a financial fast  Eliminate a monthly expense like Internet, cable, or Netflix. Perhaps you could eliminate dining out for one month.
  5. Eliminate a debt  If you have two cars, sell one! Eliminate the debt payment AND reduce your debt big-time. This might present some logistical challenges, but it sure helps speed up financial freedom!

Have you ever taken one of these steps? Please share your experience with us in the comments!

Monday Money Tip

I am FIRED UP to finally be able to make our next HUGE ANNOUNCEMENT! As of today, November 25th, we have launched a brand new resource called Monday Money Tip.


We know Monday’s are usually not everyone’s favorite day of the week, and this is our way of helping make it better!

Here’s what you can expect when you register to receive the Monday Money Tip:

  • A practical and simple money tip in a brief 3 to 5 minute video
  • Delivered every single week on Monday to your email inbox
  • A variety of topics including:
    • Savings Tips
    • Debt Reduction & Elimination Strategies
    • Investing Ideas
    • Budgeting Tips
    • Encouragement (everyone needs this!)
    • Tips to help you Persevere
    • Tips to speed up your climb up the IWBNIN Ladder!
  • COST: It is totally FREE!

Click HERE to register! You will immediately receive the first Monday Money Tip in your email inbox and every Monday thereafter.

Here’s to better and more prosperous Mondays!

Change Your Financial Life With Two Words

“I do.”

When Pastor David Terhune challenged me on June 7, 1997 with a marriage vow to my bride, I responded with, “I do.”

It wasn’t “Maybe” or “Unless.” It was simply, “I do.”

This commitment changed my life forever. It has led to more than 16 years of marriage, three wonderful children, and a life partnership I only dreamed of having.

What would it look like if we made a similar commitment to manage our finances in an honorable and upright manner?

Something like:

Do you promise to give and to save and to invest? Will you commit to provide for your family to the absolute best of your ability? To forsake destructive debt and get-rich-quick schemes? To commit to teach your children the joys of frugality, strong money skills, and the power of compound interest? To work together on all major money decisions? To promise to be honest in all of your financial dealings? As long as you both shall live?

“I do.”

It could change your financial life forever.

The Importance of Consistency

To accomplish anything great, it will usually require consistent effort over long periods of time.

Here are some examples:

  • Run a 26.2 mile marathon  I’ve run two of these events – the San Diego Rock ‘N Roll Marathon and the Houston Marathon. Each one required several months of intense training (I really like the free training plans offered by Hal Higdon)
  • Pay off a house  I was able to accomplish this by age 38. It took years of consistent and intentional focus to accomplish this major financial goal.
  • Education  It takes 13 years of consistent performance to obtain a high school diploma. Four years of effort to earn a bachelor’s degree. More for a professional graduate degree.
  • Raise a great child  I’ve not successfully done this – yet! With a 13 year old, a 3 year old, and a baby in the house, we are well aware of the need for consistency and its important role in raising a great child!
  • Losing weight  Anyone who has faced the challenge of losing weight and succeeded clearly understands the power of consistency in maintaining a good diet and regular exercise.
  • Building a business  Rarely is a business built overnight. I once heard one of my financial heroes, Dave Ramsey, say, “It took us 17 years of hard work to become an overnight success.”

Consistency allows you to accomplish “elephant-sized” dreams and objectives “one bite at a time.”

To achieve long term financial success, here are some key financial practices one must strive to consistently employ:

  1. Give  Make it your habit to live a generous life. Consistent giving ensures I am constantly aware of the great needs of others.
  2. Save  You can not prosper financially if you do not save.
  3. Invest  Investing a little bit of money all of the time usually trumps investing lots of money every now and then.
  4. Budget  Giving every dollar a name every single month will ensure that all of your finances are used to their maximum potential.
  5. Continually learn about money  Your financial education is built over time – just like your regular education. Commit to consistently learn about money.
  6. Insure  If you do not have all of your assets consistently insured, you will be at risk of losing everything you have built up.

Are you living a consistent financial life?

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