10 Ways You Know You Are Winning With Money

  1. You look forward to budgeting for next month because it is so FUN!
  2. Your broke friends and family are making fun of you.
  3. You go to the mall and buy nothing – even though you had money in your cash envelopes.
  4. You take a vacation and there are no bills following you home because you paid cash for the entire trip!
  5. The tax refund check was not spent seven different times before you actually received it.
  6. Your friends purchase a brand new car and you tell them, "I'm so sorry!" because you know they financed it.
  7. You politely tell the [insert dept store name] cashier "NO!!!!!" when they ask if this will be on your [insert dept store name] credit card.  You less politely tell the same cashier "Absolutely NOT!" when they ask if you would like to sign up for a store credit card.
  8. You look at the bank account and realize that $10,000 has become your new ZERO balance.  If it drops below $10,000 you start freaking out and say things like "We are really getting low on funds!"
  9. You calculate how much money you need for retirement and say "I can actually achieve that if I stop contributing to my retirement account now!"
  10. When people ask how much you have saved up, you can confidently tell them "Enough".

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  1. Julie Brown on October 17, 2007 at 3:44 am

    You get a bill in the mail and smile smugly as you think – I already paid that this month!

    You are able to look at the new children and youth buildings and say – “I helped build that”.

    Your are not afraid to check the answering machine or your voice mail because the creditors aren’t calling anymore.

    You recognize all the calls on your caller ID as friends and family.

    You catch your children discussing going out to dinner versus paying off another bill and saving money.

    You find yourself proudly telling everyone you know and all who will listen that Joe Sangl is on a crusade to help them become debt free and he is available to come to their church and share his story!

  2. Bo on October 17, 2007 at 8:24 am

    I don’t understand #9, what does it mean?

  3. Moneymonk on October 17, 2007 at 3:21 pm

    Love it Love it Love it!

    If it drops below $10,000 you start freaking out and say things like “We are really getting low on funds!”

    LOL– I can relate to that. Funny when I was broke $120 was a lot in the bank.

  4. Hsm on October 18, 2007 at 10:31 am

    One more:

    You charge all your expenses to the credit card and pay it all off the next month making money from the credit cards through rewards!

  5. GeckoGirl on October 19, 2007 at 3:53 pm

    Good nice. I have a few amendments though.

    2a – Your broke friends and family have stopped laughing and started coming to you for advice.

    5a – You stopped giving the government an interest-free loan and invested that money instead.

    8a – You put money above 3-6 months expenses in low risk investments (CDs, T-bills, etc.) and make that money work for you.

  6. Jeff Baiocco on October 21, 2007 at 7:59 pm

    Bo – what #9 means is that if you calculate how much your current retirement savings will grow to by the time you are ready to retire if you stopped contributing today, and that amount is enough for your to retire on, then you are in great shape.

    For example, let’s say that you are 40 yrs old and you have $250,000 in retirement savings. If you did not contribute another penny to your savings, and just let it grow at a modest annual return of 8%, it would grow to approx.$1.7M by the time you are 65. Prevalent thinking amongst the financial guru’s is that you should draw down 4% of your retirement savings a year to make it last. If you followed this rule of thumb, you’d withdraw approximately $68,000 your first year of retirement. Is that enough? That is a whole other conversation. But hopefully you understand what Joe is saying.

  7. Jeff Baiocco on October 21, 2007 at 8:04 pm

    Joe –

    Let me echo what Gecko girl is saying – if you are getting a tax refund you are doing something wrong. I always pay the government every April 15th, not enough to incur a penalty but enough that the IRS has given me an interest free loan each year. I think that if you really want to teach one thing that would impact people’s lives, teach them how to understand their federal income tax withholding on their paychecks, and how to plan NOT to get a huge refund. And most important, stay away from these usurious Instant Cash for your Tax Refund places. What a horrible rip-off.

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