Finance
SERIES: Fundamental Rules Of Money Management III
Welcome to a new series on the wildly popular JosephSangl.com! In this series, I will be sharing what I believe are Fundamental Rules Of Money Management. I look forward to reading your thoughts on this topic!
Rule #3 Nothing will happen until you do something.
I used to work a J.O.B. I was energetic enough because I am a naturally hyper person, but I was working a J.O.B.
Instead of waking up in the morning and saying, “Good morning, Lord! I can’t believe I get to do this!!!”, I would wake up and say, “Good Lord. It’s morning. Where’s the coffee?” I wanted to do work that made a difference. I think most people fall into that category. There is nothing more miserable than working a J.O.B. that makes absolutely no difference in anyone’s life.
I have met a lot of people who feel stuck in their job. They hate it. To say that they “despise” their job would not be overstating it. They want to do something else, but they feel trapped.
I have been there. I decided to do something about it. I began to offer free financial counseling for members of our community. Trusting people allowed me into their homes to help them prepare a written spending plan or to develop a strategy to become debt-free. Those people allowed this crusade to become a reality. But it would not have happened had I not made the first move.
This rule applies to all areas of life. Want to go out on a date with that girl? Better do something – ask her! Want the next promotion? Let the boss know that you are interested – and prepare like crazy so that you are ready for it!
Want to win with your finances? DO SOMETHING about it.
SERIES: Fundamental Rules Of Money Management II
Welcome to a new series on the wildly popular JosephSangl.com! In this series, I will be sharing what I believe are Fundamental Rules Of Money Management. I look forward to reading your thoughts on this topic!
Rule #2 Sow Some Seed
It appears that this series is taking on a farm angle … It is the most basic and fundamental fact of farming. If you want to harvest something, you better plant something. I can assure you that if you do not plant corn kernels in the spring, you will not be able to harvest 150 – 200 bushels/acre of corn kernals in the fall.
How does this relate to finances? I see some key similarities:
- Being stingy with seed leads to a poor crop If you want to have no money, don’t save any money. Don’t invest any money. I can promise you that you will always have no money (a poor crop).
- Some seeds will be eaten or rot You can coat the seed with pesticide and other deterrants, but some of the seeds will still be eaten. Still others will rot. Others will not germinate.
- If enough is planted, an abundant harvest will happen If enough seed is planted, it sets in motion the path toward an abundant harvest. There is nothing like running the combine through the fields and emptying the hopper into the grain trucks – the result of all of your efforts in the spring.
- One seed usually produces hundreds or thousands of additional seeds! The seeds that produce will yield an incredible harvest.
Are you sowing some seed so that you can reap a harvest? Let’s make it practical. Are you investing in your 401(k)? Are you saving money for your dreams? Are you directing money into investments like real estate, small businesses, stocks, bonds, and other proven ways to maximize the growth of your money? Sow some seed.
SERIES: Fundamental Rules Of Money Management I
Welcome to a new series on the wildly popular JosephSangl.com! In this series, I will be sharing what I believe are Fundamental Rules Of Money Management. I look forward to reading your thoughts on this topic!
Rule #1 Make hay while the sun shines.
I was raised on a farm in Indiana, and one thing we learned was that we needed to make hay while the sun was shining. We knew that a time of famine was coming (winter) when there would be no fresh food to feed the livestock. This made it imperative that we cut the grass, dry it in the sun, bale it, and store it WHILE IT WAS AVAILABLE.
How does this relate to finances? I see some key similarities:
- There will almost always be a time of famine The job lay-off, an unexpected pay-cut, an unanticipated healthcare issue, or increased expenses can lead to financial famine – especially if one has not saved for such a famine.
- When you cut hay, more will grow to replace it If the grass is not cut, it will mature and die off. It will also prevent additional growth. If you cut the hay, it stimulates new growth. The same is true for finances. If you save some, it will lead to new financial growth!
- When you have plenty of hay saved up, it leads to confidence When you have an emergency fund of money saved up, it can help you take a few risks and not jeopardize your entire financial situation. You can absorb some costly expenses.
When you are in a period where you are making excellent money and life is good, it is time to save and store up for the future. Make hay while the sun shines.
Top 10 Signs You Are In A Financial Mess
A friend of mine recently asked me what were some of the top signs that someone was in financial distress. I sent him the below list.
- You have $0 in savings
- You know exactly how much you have left in overdraft protection – and you USE it
- You are well aware of what the term "NSF" means
- You leave bills unopened because you are scared of what is inside
- You are saving nothing for retirement and planning on the lottery and the government to take care of you
- Your kid has 53 Webkinz, but you have nothing saved for their college
- You borrow money from your children
- You borrow money from a payday loan store or a pawn shop
- You have $483,000 in credit card debt
- You are 35, have no job or income, live in Mom's basement, and wonder why things are not going well (financially or otherwise)
Would you add anything to this list?
BOOK: Leadership Lessons From THE BOOK – William Bliss
I am PASSIONATE about helping people accomplish far more than they ever thought possible.
What many of you may not know is that IWBNIN has started a fledgling book publishing company. I love helping passionate people accomplish their dream of having their book published.
With that news, I would like to CONGRATULATE William G Bliss [Bill] on the upcoming release of his new book, Leadership Lessons From THE BOOK – Applying Biblical Lessons For Today’s Leaders.
Bill has provided executive leadership consulting services for over 25 years and is passionate about connecting biblical principles with practical application.
Personally, I was challenged by this book and was inspired and equipped to apply these principles to my business. If you are a leader, I recommend you purchase a copy today (FREE SHIPPING through 10/1/2009).
Below is a small sampling of the praise for Leadership Lessons From THE BOOK:
“Bill has drawn on years of effective leadership consulting to produce a book full of rich biblical insights coupled with practical tools and suggestions so you can implement what you learn. Clearly written by someone who knows what he’s talking about.”
— Richard Blackaby, PhD, President of Blackaby Ministries International
“Bill is a very accomplished business leader who has studied these topics extensively. He does continual research and the presentation of his years of work and research are worth reading! The topics are as old as creation itself but his fresh approach is a treasure you will want to uncover.”
— Dave Rae, Chief Operating Officer of Crown Financial Ministries
“As a leader, I discovered the Bible as the best manual for business, leadership, family, and life. Bill’s insights are so unique because as a Leadership Coach he has seen it all first hand: the potential, pressure, and complexity of leadership – and the joy of studying the Bible. Bill’s book offers a truly inspiring and practical perspective. It will be one of those which I pick up again and again in order to improve my effectiveness.”
— Daniel Hoster, Managing Director of Deutsche Bank AG