A friend was so excited to tell me today that they received their real estate property tax bill and it was $100 less than they had saved up for it! There was not one hint of sadness that the bill was large (it is a fact of life). There was just jubilation that they had $100 extra beyond what was needed to cover the bill.

That is a true sign that your financial plan is working!!! I remember the times when the non-monthly bills would roll around. Bills like my auto insurance which I paid quarterly. It was a punishing time to come up with the funds to pay that bill. I remember it well. I do not like the feelings I have when I remember those times. It was not fun. It was certainly not a time for jubilation.

If you are able to have the entire amount of each non-monthly bill saved up by the time the bill actually comes due … yeah … I would say that means you have a financial plan that is working big time! Congratulations!

For those of you who have the less ideal feelings when thinking about those non-monthly big financial setbacks, I challenge you to do this. In your monthly budget (you do have a monthly budget, right?), take the bill amount and divide it by the number of months you have remaining before the bill comes due.

For example, if you have a $400 insurance bill coming due in 5 months, you would divide $400 by 5. This means that you need to save $80 this month and for the next 4 additional months to have the $400 in 5 months. This will really help relieve your financial plan from the “big” hits as it will level out your expenses over each month.

When will you have enough? Is it when you finally own your home? How about when you finally get to purchase that awesome boat? What about a vacation home? What about when you own your own business? What about when you own a farm? Is it when you hit $1,000,000 in the investment account? What about $10,000,000? What about $100,000,000? What about $1,000,000,000?

It is said that John D. Rockefeller, billionaire oilman of the early 20th century, was asked how much money was enough? His response? “Just one more dollar.” WOW!

If you make money the object of your full attention, you will never be satisfied. Money at its very best enables you to help the less fortunate and accomplish great things for others. Money at is very worst leads to brutal deadly conflict.

Choose today to view your money as a resource. You have been hired as its manager? If you are the manager of your money, would you fire you? Make the choice to help others. Make the choice to wisely consider the opportunity cost of using your money. Make the choice to be a manager of resources. Do not allow your life to be driven for “just one more dollar.”

How much is enough for me? I have clothes, food, shelter, and transportation which puts me in the top 1% of the world’s population. I guess that means that $6.90 is enough for me.

Do you ever wonder why I write so much about becoming financially free?

I want to become financially free because I believe that I am a better person when I am not living paycheck to paycheck. I believe that I am a better husband when I am not worried about where the money is coming from to pay a past due bill. I believe that I am a better father when I am not juggling payments from week to week to prevent a check from bouncing. I believe that I am a better employee when I do not have to struggle to make it to the next paycheck. I believe that I am a better employee when I do not have to hold four jobs just to make ends meet. I believe that I am better able to accomplish God’s specific plan for my life when I am not bound by debt. I believe that I honor God when I practice good stewardship with the resources He has given me to manage. It clearly states in Proverbs 22:7 that the “borrower is servant to the lender”. When you are a servant, it changes who you are!

I believe that I am better able to give to worthy causes when I am financially fit. I believe that I am better able to focus on accomplishing my life’s work when I can focus on the task at hand without worrying about a check being able to clear. I believe that I free up more time when I can pay all of my monthly bills at one time. More time equals better opportunities to be a better spouse, father, and leader.

I truly believe that being financially free is not about money. My financial situation is an outcome based on a set of inputs. If I am financially free, it means that I am effectively managing the resources within my control. If I am not financially free, it means that I am not effectively managing the resources within my control.

I want to accomplish my life’s passion statement – “To help others accomplish far more than they ever thought possible!” – To do this, I must be financially free. If I am not financially free, I will not be able to focus on helping others. Yes, it has meant sacrificing personal wants. Yes, it has meant delaying pleasure.

But it is not about me! It is about achieving what I was put on this earth to do!

If you have a detailed financial plan (a monthly zero-based budget) and you receive unexpected money, you will know exactly where that money can be put to good use. If you do not have a plan, there is a good chance that the money will leave you quickly.

Marketers understand our ability to impulse purchase when we receive unexpected money. To ensure that an unexpectedly large tax return is not used elsewhere, car dealerships will do your taxes for you if you use the tax refund as your down payment. Lottery winners are approached by many who have a “great deal” for them. Those who receive an inheritance are suddenly offered “opportunities” that did not previously exist. If a large company gives out bonuses every Christmas, the employees are all marketed to by the local stores and businesses to get them to spend the bonus at their store.

I believe that if we receive an unexpected money and there is no plan, then it is not going to be a financial help to us. It will only allow us to acquire more junk that we will later sell at a yard sale or give away to Goodwill. If we do have a plan (a monthly zero-based budget), we will improve our chances at gaining financial freedom.

Do you ever receive unexpected money? Do you have a plan?

• Negotiate with service providers on major purchases (like a crown at the dentist or a surgical procedure at the doctor). The world is full of service providers – get a deal!
• If you have kids and a spouse, get good level term life insurance!!! You can get good quotes at Zander.
• Budget for a vacation and put your spending money in an envelope (or a set of envelopes). This will guarantee that you will not exceed your budget.
• When planning a large expenditure, let friends, co-workers, and family know what you are saving for. Many times, they will be able to locate that exact item in a slightly used state for 25% of the price of new.
• Use Microsoft Money to track your money. It allows you to see exactly where you are spending money and generates some cool reports to help you think about your options.
• Use Microsoft Excel to develop your monthly budget. It takes out all of the calculator/pencil erasing time and allows you to focus on the actual expenses/income part of the budget. It also prevents you from getting pencil erasor all over your clothes!
• Keep copies of your monthly budgets. After doing 12 months worth of monthly budgeting, you will be able to pull up your previous year’s budget for the same month and ensure you are not forgetting an upcoming expense. Plus, it is just plain fun to see the progress you have been making!
• Plant a garden. It is a great time for family to work together to create something that will yield excellent food dividends! That saves money! Check out this web site to buy some seeds if you want. I love Burpee.
• Sell some junk out of your garage or basement. You don’t use it anyway. So what if you used to use it. Get rid of it and turn it into something cool – like a paid-off credit card that has been shredded.
• Review your spending habits in detail at least once per year. Where could you tighten up the budget? Where do you need to start spending more money? What could you do to take your personal finances to the next level? Do this with your spouse!
• Teach your children about money! Do this through paying them commissions for completing chores. Show them the mutual fund you have set up for their college tuition. Have them send half of their birthday money to the mutual fund so they truly understand that their money is working for them so they can achieve something far in the future (or maybe next year if you have a high school senior!)

I hope this helps out some. I would love to hear some more tips if you have some.