Steve Repak's Blog - Posts Tagged "money"
Fox & Friends
I have the honor and privledge to be back on again Fox & Friends this Sunday morning on November 18th at 6:45am ET (rescheduled) where I will talk about the 10 Things The Military Taught Me About Money
The Honeymoon is Over… What To Do With All of the Money?
Through my many years of working with them I have learned that couples will resist taking advice from their better half but they will take advice from a total stranger. It is not an insult to you or your better half, it is just the truth. With that said I don’t come bearing gifts of money but instead I want to share with you four things to do with the wedding money your friends and family have given you.
Proverbs 11:24 (NIV)
“One person gives freely, yet gains even more; another withholds unduly, but comes to poverty.”
(1.) Give God His due
If you really want to start your marriage on the right track, learn to give at the beginning. If you have your priorities in order now it will make life so much easier later. How can it help you financially? When you give, you have no choice but to live on less which is not just biblical but also the cornerstone of personal finance. Show God what your true priorities are by giving to Him a part of your financial treasures.
1 Corinthians 16:2 (NIV)
“On the first day of every week, each one of you should set aside a sum of money in keeping with your income, saving it up, so that when I come no collections will have to be made.
(2.) Fund your “life happens” account
Nobody plans on bad things happening such as your car’s transmission going out or needing to replace your refrigerator, but you need to have some cash in safe, short term savings to cover these types of emergencies, because it isn’t a matter of if they will happen, it is only a matter of when.
If you don’t have anything in savings and an unplanned expense does come up, you won’t have any choice but to use a credit card. Your ultimate goal is to have at least 3-6 months of your monthly non-discretionary spending in an account separate from your checking account. If you are not starting out with this, consider setting aside a portion of your wedding money to start or add to your “life happens” account.
Proverbs 15:22 (NIV)
“Plans fail for lack of counsel, but with many advisors they succeed.”
(3.) Talk to a counselor
You are probably thinking to yourself that you just got married so why would you need to talk to a counselor. You may not need a marriage counselor, but you would be wise to talk to a financial counselor. A Certified Financial Planner ™ (CFP®) can help both of you plan a road map to your golden years and help you decide where to put some of your wedding cash for your longer term financial goals. You can find a local CFP® by going to www.cfp.net.
1 Timothy 5:8 (NIV)
“Anyone who does not provide for their relatives, and especially for their own household, has denied the faith and is worse than an unbeliever.”
(4.) Blow some of your cash
I know I will get some negative comments and 1 Timothy 5:8 is speaking more towards the area of balance at work, family, etc. but I believe there should be balance also when it comes to money. Give God His due, but find balance with the rest of your money. Extremes seldom work and I have found that couples who have balance in their lives are happier. Spend, spend, spend will lead to poverty while save, save, save can lead to resentment. Be responsible with most of your wedding cash, but do set aside a small portion to spend on things you both like or things you both like to do!
http://www.bethanyjett.com/2014/03/05...
Bethany Jett
Proverbs 11:24 (NIV)
“One person gives freely, yet gains even more; another withholds unduly, but comes to poverty.”
(1.) Give God His due
If you really want to start your marriage on the right track, learn to give at the beginning. If you have your priorities in order now it will make life so much easier later. How can it help you financially? When you give, you have no choice but to live on less which is not just biblical but also the cornerstone of personal finance. Show God what your true priorities are by giving to Him a part of your financial treasures.
1 Corinthians 16:2 (NIV)
“On the first day of every week, each one of you should set aside a sum of money in keeping with your income, saving it up, so that when I come no collections will have to be made.
(2.) Fund your “life happens” account
Nobody plans on bad things happening such as your car’s transmission going out or needing to replace your refrigerator, but you need to have some cash in safe, short term savings to cover these types of emergencies, because it isn’t a matter of if they will happen, it is only a matter of when.
If you don’t have anything in savings and an unplanned expense does come up, you won’t have any choice but to use a credit card. Your ultimate goal is to have at least 3-6 months of your monthly non-discretionary spending in an account separate from your checking account. If you are not starting out with this, consider setting aside a portion of your wedding money to start or add to your “life happens” account.
Proverbs 15:22 (NIV)
“Plans fail for lack of counsel, but with many advisors they succeed.”
(3.) Talk to a counselor
You are probably thinking to yourself that you just got married so why would you need to talk to a counselor. You may not need a marriage counselor, but you would be wise to talk to a financial counselor. A Certified Financial Planner ™ (CFP®) can help both of you plan a road map to your golden years and help you decide where to put some of your wedding cash for your longer term financial goals. You can find a local CFP® by going to www.cfp.net.
1 Timothy 5:8 (NIV)
“Anyone who does not provide for their relatives, and especially for their own household, has denied the faith and is worse than an unbeliever.”
(4.) Blow some of your cash
I know I will get some negative comments and 1 Timothy 5:8 is speaking more towards the area of balance at work, family, etc. but I believe there should be balance also when it comes to money. Give God His due, but find balance with the rest of your money. Extremes seldom work and I have found that couples who have balance in their lives are happier. Spend, spend, spend will lead to poverty while save, save, save can lead to resentment. Be responsible with most of your wedding cash, but do set aside a small portion to spend on things you both like or things you both like to do!
http://www.bethanyjett.com/2014/03/05...
Bethany Jett
What to Do With Your Tax Refund
To keep things simple, there should be at least three things you should consider:
1. Add some cushion to your cushion
Nobody likes to plan on things going wrong, but invariably they do. Your car’s transmission will go out or your pet will swallow a golf ball, and you need short term savings to cover these types of emergencies. It isn’t a matter of if they will happen; it is only a matter of when. A good goal is to have at least 3-6 months of your monthly non-discretionary spending in an account separate from your checking account. If you don’t have this much consider using part of your refund to add to your cushion.
2. Pay down some debt
The more debt you have, the more interest someone else is earning on your money. Your ultimate goal is to be debt-free, but just as you didn’t accumulate it overnight, neither will you pay it off overnight. Evaluate your current debt and put some of your refund towards the debt that is charging you the highest interest.
3. Have some fun
After you have put some money into savings and paid down some of your debt, take the rest of your tax refund money and spend it any way you want. Extremes rarely work and I have found that people who have balance in their lives are happier. Wasting all of your money will lead to poverty while saving every last cent can lead to resentment.
So there you have it. Be responsible with most of your tax refund, but have a little fun with the rest of it!
Ecclesiastes 3:13 (NLT) “And people should eat and drink and enjoy the fruits of their labor, for these are gifts from God.”
http://nicoleodell.com/2014/03/do-you...
1. Add some cushion to your cushion
Nobody likes to plan on things going wrong, but invariably they do. Your car’s transmission will go out or your pet will swallow a golf ball, and you need short term savings to cover these types of emergencies. It isn’t a matter of if they will happen; it is only a matter of when. A good goal is to have at least 3-6 months of your monthly non-discretionary spending in an account separate from your checking account. If you don’t have this much consider using part of your refund to add to your cushion.
2. Pay down some debt
The more debt you have, the more interest someone else is earning on your money. Your ultimate goal is to be debt-free, but just as you didn’t accumulate it overnight, neither will you pay it off overnight. Evaluate your current debt and put some of your refund towards the debt that is charging you the highest interest.
3. Have some fun
After you have put some money into savings and paid down some of your debt, take the rest of your tax refund money and spend it any way you want. Extremes rarely work and I have found that people who have balance in their lives are happier. Wasting all of your money will lead to poverty while saving every last cent can lead to resentment.
So there you have it. Be responsible with most of your tax refund, but have a little fun with the rest of it!
Ecclesiastes 3:13 (NLT) “And people should eat and drink and enjoy the fruits of their labor, for these are gifts from God.”
http://nicoleodell.com/2014/03/do-you...
How to Live a VIP Lifestyle on a Budget
There’s a saying that good meat isn’t cheap and cheap meat isn’t good—in other words, you get what you pay for. So when you’re on a budget, how can you enjoy the finer things in life without breaking the bank?
Fortunately, you can treat yourself and the ones you love to some VIP-style fun every once in a while, even if you don’t make a million dollars a year. Here are a few ways you can eat out, travel, and have fun on a budget:
Dining out
Going out to eat is definitely a treat, and costs can quickly add up. Save money by not ordering drinks and instead only ordering water. Non-alcoholic beverages and wine are where restaurants make most of their profits.
Another way to save a little money while still being able to eat great food is to go out for lunch instead of dinner. The portions will most likely be smaller, but that means your bill will be smaller, too. You can also try a different day of the week. Many restaurants offer deals on slower-traffic days in order to drive more business.
Traveling
Try vacationing in the off-season. You can find some great vacation packages by booking during off-peak months, and resorts and beaches may not be very busy during those times.
If you are flying, try scheduling your flight to leave and return during the middle of the week or booking flights with connections instead of non-stop or direct flights. It won’t be as quick, but it will be cheaper (and you’ll have some time to stretch your legs). You may also want to consider alternate means of transportation, such as bus or train, if time is not a factor and if your travel destination is only a few hundred miles away.
The finer things
If you love to be pampered, consider checking out the local beauty colleges or spa training schools in your area instead of pricier salons or spas. You’ll save money, and the person taking care of you will appreciate the opportunity to further perfect his or her craft. You can also try daily deals sites, such as LivingSocial and Groupon, which often have discounted prices for spa and salon services. But buyer beware: You can definitely wreck your budget if you don’t know when to say no to a deal.
If you prefer a good shopping spree to unwind, gently used could be the way to go. Consider shopping at clothing consignment stores and online stores. You can find new and nearly new items for a fraction of the price.
Can you travel, eat out, and enjoy the finer things without breaking the bank? I think you can as long as you have some self-control, are able to budget, and remember that you aren’t a multi-millionaire. What are your tips for enjoying yourself on a budget?
via http://blog.equifax.com/retirement/ho...
Fortunately, you can treat yourself and the ones you love to some VIP-style fun every once in a while, even if you don’t make a million dollars a year. Here are a few ways you can eat out, travel, and have fun on a budget:
Dining out
Going out to eat is definitely a treat, and costs can quickly add up. Save money by not ordering drinks and instead only ordering water. Non-alcoholic beverages and wine are where restaurants make most of their profits.
Another way to save a little money while still being able to eat great food is to go out for lunch instead of dinner. The portions will most likely be smaller, but that means your bill will be smaller, too. You can also try a different day of the week. Many restaurants offer deals on slower-traffic days in order to drive more business.
Traveling
Try vacationing in the off-season. You can find some great vacation packages by booking during off-peak months, and resorts and beaches may not be very busy during those times.
If you are flying, try scheduling your flight to leave and return during the middle of the week or booking flights with connections instead of non-stop or direct flights. It won’t be as quick, but it will be cheaper (and you’ll have some time to stretch your legs). You may also want to consider alternate means of transportation, such as bus or train, if time is not a factor and if your travel destination is only a few hundred miles away.
The finer things
If you love to be pampered, consider checking out the local beauty colleges or spa training schools in your area instead of pricier salons or spas. You’ll save money, and the person taking care of you will appreciate the opportunity to further perfect his or her craft. You can also try daily deals sites, such as LivingSocial and Groupon, which often have discounted prices for spa and salon services. But buyer beware: You can definitely wreck your budget if you don’t know when to say no to a deal.
If you prefer a good shopping spree to unwind, gently used could be the way to go. Consider shopping at clothing consignment stores and online stores. You can find new and nearly new items for a fraction of the price.
Can you travel, eat out, and enjoy the finer things without breaking the bank? I think you can as long as you have some self-control, are able to budget, and remember that you aren’t a multi-millionaire. What are your tips for enjoying yourself on a budget?
via http://blog.equifax.com/retirement/ho...
Finance Tips for Every Stage of Life
No matter what stage of life you’re in, money matters. Whether you’re working to earn an allowance, supporting a family, or gearing up for retirement, your finances are often at the forefront of your mind.
Here are a few tips to keep in mind (and pass along) for all stages of your life:
Teens
Giving is important. One of the earliest lessons most kids receive is about sharing. It’s important not to forget this as you move into your teen years. I have found that the people who are most content with their lives are the ones who share their good fortunes with others. When you get your first job, consider supporting a charity of your choice. Even $10 every few months can help.
Wants and needs are different. In your teen years, it can be hard to distinguish between needs and wants, especially when you’re looking at what your peers have. The reality is, food, shelter, transportation, and clothing are needs—going out to eat every night is not. Wearing clothes is a need—designer clothes are not. Peer pressure is real, but learning to stand up to it is important. If you learn in your teens how to control your emotions and distinguish needs from wants when making financial decisions, you can avoid financial trouble when you get older.
20s and 30s
You’re not invincible. When you’re in your 20s, it’s easy to think you are invincible and will live forever. But that mindset can hurt you financially, especially when it comes to planning for retirement. The best lesson you can learn in your 20s is the importance of compounding money. The earlier you can start saving money, the more you will have later. Don’t wait until you’re on the brink of retirement to start saving. You’ll have to save a lot more, a lot faster, than you would have if you’d started in your 20s.
You should earn interest, not pay it. Many people in their 30s are still paying off their student loans or credit card debt from bad purchasing decisions they made in their 20s. You don’t have to be a finance professional to understand that the best way to increase your wealth is by earning interest on your own money instead of paying interest to someone else. Pay down those debts as soon as possible. If you must have debt, know the difference between good debt and bad debt.
40s and 50s
Prioritizing is important. You are getting close to your peak earning years, but why does it seem like you can never get ahead? Mortgage payments, car loans, and kids are most likely consuming all of your cash. This is definitely the time to learn about financial priorities. The key thing to remember is that retirement should be your number one priority (unless of course, your plan is to move in with your kids and expect them to take care of you during your golden years).
You can’t change the past. There are many people who don’t even start to think about planning for retirement until they are in their 50s. If this sounds like you, know that although it would have been less painful financially had you started saving earlier, it is never too late to start. Don’t whine about something you can’t change—you probably don’t have a time machine to go back to your 20s—and instead buckle down and try to put every cent you make away for retirement.
60s and beyond
A happy spouse means a happy house. Did you really think that you were going to retire and sit around the house doing nothing? This is a great time to consider a second career or maybe give back by donating your time to your favorite charity or cause. Not only will you feel good about giving back, you might also stop driving your spouse crazy by being home all day.
Your priorities will change. You might not be ready to slow down, but the lesson here is that you won’t live forever. As you age, review all of the wills and legal documents you might have drafted in your younger years, and make the changes you deem necessary.
Pass on what you know. Some of the greatest gifts you can pass on to your loved ones (and maybe even perfect strangers) are the lessons you’ve learned over the course of your life. Spend time with the people you love, teach them what you know, and take some time to smell the roses.
No matter what age bracket you’re in, it’s important to set financial goals and learn from your—and others’—mistakes. What are some money management tips you have to share?
via http://blog.equifax.com/credit/financ...
Here are a few tips to keep in mind (and pass along) for all stages of your life:
Teens
Giving is important. One of the earliest lessons most kids receive is about sharing. It’s important not to forget this as you move into your teen years. I have found that the people who are most content with their lives are the ones who share their good fortunes with others. When you get your first job, consider supporting a charity of your choice. Even $10 every few months can help.
Wants and needs are different. In your teen years, it can be hard to distinguish between needs and wants, especially when you’re looking at what your peers have. The reality is, food, shelter, transportation, and clothing are needs—going out to eat every night is not. Wearing clothes is a need—designer clothes are not. Peer pressure is real, but learning to stand up to it is important. If you learn in your teens how to control your emotions and distinguish needs from wants when making financial decisions, you can avoid financial trouble when you get older.
20s and 30s
You’re not invincible. When you’re in your 20s, it’s easy to think you are invincible and will live forever. But that mindset can hurt you financially, especially when it comes to planning for retirement. The best lesson you can learn in your 20s is the importance of compounding money. The earlier you can start saving money, the more you will have later. Don’t wait until you’re on the brink of retirement to start saving. You’ll have to save a lot more, a lot faster, than you would have if you’d started in your 20s.
You should earn interest, not pay it. Many people in their 30s are still paying off their student loans or credit card debt from bad purchasing decisions they made in their 20s. You don’t have to be a finance professional to understand that the best way to increase your wealth is by earning interest on your own money instead of paying interest to someone else. Pay down those debts as soon as possible. If you must have debt, know the difference between good debt and bad debt.
40s and 50s
Prioritizing is important. You are getting close to your peak earning years, but why does it seem like you can never get ahead? Mortgage payments, car loans, and kids are most likely consuming all of your cash. This is definitely the time to learn about financial priorities. The key thing to remember is that retirement should be your number one priority (unless of course, your plan is to move in with your kids and expect them to take care of you during your golden years).
You can’t change the past. There are many people who don’t even start to think about planning for retirement until they are in their 50s. If this sounds like you, know that although it would have been less painful financially had you started saving earlier, it is never too late to start. Don’t whine about something you can’t change—you probably don’t have a time machine to go back to your 20s—and instead buckle down and try to put every cent you make away for retirement.
60s and beyond
A happy spouse means a happy house. Did you really think that you were going to retire and sit around the house doing nothing? This is a great time to consider a second career or maybe give back by donating your time to your favorite charity or cause. Not only will you feel good about giving back, you might also stop driving your spouse crazy by being home all day.
Your priorities will change. You might not be ready to slow down, but the lesson here is that you won’t live forever. As you age, review all of the wills and legal documents you might have drafted in your younger years, and make the changes you deem necessary.
Pass on what you know. Some of the greatest gifts you can pass on to your loved ones (and maybe even perfect strangers) are the lessons you’ve learned over the course of your life. Spend time with the people you love, teach them what you know, and take some time to smell the roses.
No matter what age bracket you’re in, it’s important to set financial goals and learn from your—and others’—mistakes. What are some money management tips you have to share?
via http://blog.equifax.com/credit/financ...
Don’t Believe Everything you Read when it comes to Financial Advice
2 Timothy 3:13(NLT) “But evil people and impostors will flourish. They will deceive others and will themselves be deceived.”
Most people are extremely trusting and that can get them into a heap of trouble. There is an old saying that goes: don’t believe everything you hear and only ½ what you see. For some reason if people read something on the Internet or their favorite social media site, they trust that information and act on it as prudent advice. When it comes to financial information, the Internet can be a great resource but it should not be your only resource. Here are a few things to consider before taking financial, or any other type of advice for that matter, from the internet or your favorite social media site.
1. Most people can spell
If you can spell “Christian” or “Finance Expert” you can call yourself one. Just because someone has a blog, website, Facebook page, etc., don’t assume they are truly an expert or that they have your best interests at heart. Take the time to verify the information and keep in mind that all credentials (the little letters at the end of their name) are not created equal.
2. If it sounds too good to be true…. RUN
There are no secrets or short cuts to being financially secure. If someone promises overnight riches or the next sure thing, RUN! People tend to make decisions with their emotions, especially when it comes to money. Two strong emotions are fear and greed. Many times financial decisions are based on those two emotions and you can find yourself making short-term decisions that might make you feel good now only to regret them further down the road.
3. Your BFF on Facebook
We usually trust our family and friends the most. That is not a bad thing but the problem is when we trust the advice they may post. It could be a stock tip they overheard from their dentist or something they read while they were searching the internet. Don’t assume information that comes from a family member or friend is good, reliable or relevant. There is nothing wrong with trusting the people you love, just make sure you take time to verify the information before you take any action.
4. One size does not fit all
A great example is when you read about how much you should save for retirement. The general rule is you need to save enough to replace 75% of your pre-retirement income adjusted for inflation. But that amount can change for each person based on their age now, their age when they retire, how long they might need the money to last, how much debt they have, pensions, security, etc. You can use information as a guide, and hopefully it can provide you with a little direction, but it might make better sense to sit down with a professional than can provide you with information and guidance that will be more specific to your situation.
Always remember the following truths about financial advice: there are no free rides, everybody wants your money and don’t believe everything you read unless of course you are reading your Bible. The internet and social media can be entertaining and there is a ton of information out there, but just because it glitters doesn’t mean it’s gold. It is ok to trust, but always verify the organization, the information, the person, etc. before making any decisions when it comes to your finances or anything else that might be important in your life!
via @ http://nicoleodell.com/2014/07/dont-b...
Most people are extremely trusting and that can get them into a heap of trouble. There is an old saying that goes: don’t believe everything you hear and only ½ what you see. For some reason if people read something on the Internet or their favorite social media site, they trust that information and act on it as prudent advice. When it comes to financial information, the Internet can be a great resource but it should not be your only resource. Here are a few things to consider before taking financial, or any other type of advice for that matter, from the internet or your favorite social media site.
1. Most people can spell
If you can spell “Christian” or “Finance Expert” you can call yourself one. Just because someone has a blog, website, Facebook page, etc., don’t assume they are truly an expert or that they have your best interests at heart. Take the time to verify the information and keep in mind that all credentials (the little letters at the end of their name) are not created equal.
2. If it sounds too good to be true…. RUN
There are no secrets or short cuts to being financially secure. If someone promises overnight riches or the next sure thing, RUN! People tend to make decisions with their emotions, especially when it comes to money. Two strong emotions are fear and greed. Many times financial decisions are based on those two emotions and you can find yourself making short-term decisions that might make you feel good now only to regret them further down the road.
3. Your BFF on Facebook
We usually trust our family and friends the most. That is not a bad thing but the problem is when we trust the advice they may post. It could be a stock tip they overheard from their dentist or something they read while they were searching the internet. Don’t assume information that comes from a family member or friend is good, reliable or relevant. There is nothing wrong with trusting the people you love, just make sure you take time to verify the information before you take any action.
4. One size does not fit all
A great example is when you read about how much you should save for retirement. The general rule is you need to save enough to replace 75% of your pre-retirement income adjusted for inflation. But that amount can change for each person based on their age now, their age when they retire, how long they might need the money to last, how much debt they have, pensions, security, etc. You can use information as a guide, and hopefully it can provide you with a little direction, but it might make better sense to sit down with a professional than can provide you with information and guidance that will be more specific to your situation.
Always remember the following truths about financial advice: there are no free rides, everybody wants your money and don’t believe everything you read unless of course you are reading your Bible. The internet and social media can be entertaining and there is a ton of information out there, but just because it glitters doesn’t mean it’s gold. It is ok to trust, but always verify the organization, the information, the person, etc. before making any decisions when it comes to your finances or anything else that might be important in your life!
via @ http://nicoleodell.com/2014/07/dont-b...
Thanksgiving Money-Saving Tips
1 Thessalonians 5:18 (NLT) “Be thankful in all circumstances, for this is God’s will for you in Christ Jesus.”
With November upon us and Thanksgiving just around the corner, now is a great time to reflect on the many blessings for which you are thankful. And because we are also entering what most of us find to be the most expensive season of the year, I thought it would be a good idea to share some tips to help you save a little money while still enjoying Turkey Day with your friends and family.
Thanksgiving Money-Saving Tips
Tip #1. Plan for the meal in advance
Maybe you have always served both turkey and ham. Try sticking with one protein this year because we all know that good meat ain’t cheap! Also plan to keep things simple. For example making a pot of mashed potatoes is much less expensive than a scalloped potato casserole. You also want to plan on shopping in advance. It seems like a no-brainer but many people wait until the last minute to find out the items or food that they need have sold out, or yes, grocery stores are indeed closed Thanksgiving morning. If there are items that you can freeze ahead of time, get them now so you can experience less stress with last minute grocery shopping and maybe save some money at the same time.
Tip #2. (BYOF) Bring your own food
Have others bring food and drinks. Not only does this help the person hosting the event because they won’t be spending the entire day slaving over a hot stove, but it is also a great way to reduce the large financial burden of having to buy everything yourself. If you completed Tip #1 and planned your menu you can now ask friends and family members to be responsible for some of the items. For example, you can ask someone to bring a side dish such as a vegetable or maybe you know someone who loves to bake that can bring a dessert. Even folks that can’t cook can help by bringing drinks, napkins, disposable storage containers or other supplies. Sharing the joy of cooking has many benefits beyond the financial and most guests are happy to contribute.
Tip #3. Show your thankfulness by serving strangers
To be reminded of how truly blessed your life is, consider showing how thankful you are by serving others. There are many organizations, soup kitchens, and shelters that are desperate for people who not only can volunteer food but also volunteer their time to help out others in need. It is a great way to spend time with your friends and family and Galatians 5:13 (NLT) says “For you have been called to live in freedom, my brothers and sisters. But don’t use your freedom to satisfy your sinful nature. Instead, use your freedom to serve one another in love"
courtesy of ChooseNow Ministries and Steve Repak
http://nicoleodell.com/2014/11/thanks...
With November upon us and Thanksgiving just around the corner, now is a great time to reflect on the many blessings for which you are thankful. And because we are also entering what most of us find to be the most expensive season of the year, I thought it would be a good idea to share some tips to help you save a little money while still enjoying Turkey Day with your friends and family.
Thanksgiving Money-Saving Tips
Tip #1. Plan for the meal in advance
Maybe you have always served both turkey and ham. Try sticking with one protein this year because we all know that good meat ain’t cheap! Also plan to keep things simple. For example making a pot of mashed potatoes is much less expensive than a scalloped potato casserole. You also want to plan on shopping in advance. It seems like a no-brainer but many people wait until the last minute to find out the items or food that they need have sold out, or yes, grocery stores are indeed closed Thanksgiving morning. If there are items that you can freeze ahead of time, get them now so you can experience less stress with last minute grocery shopping and maybe save some money at the same time.
Tip #2. (BYOF) Bring your own food
Have others bring food and drinks. Not only does this help the person hosting the event because they won’t be spending the entire day slaving over a hot stove, but it is also a great way to reduce the large financial burden of having to buy everything yourself. If you completed Tip #1 and planned your menu you can now ask friends and family members to be responsible for some of the items. For example, you can ask someone to bring a side dish such as a vegetable or maybe you know someone who loves to bake that can bring a dessert. Even folks that can’t cook can help by bringing drinks, napkins, disposable storage containers or other supplies. Sharing the joy of cooking has many benefits beyond the financial and most guests are happy to contribute.
Tip #3. Show your thankfulness by serving strangers
To be reminded of how truly blessed your life is, consider showing how thankful you are by serving others. There are many organizations, soup kitchens, and shelters that are desperate for people who not only can volunteer food but also volunteer their time to help out others in need. It is a great way to spend time with your friends and family and Galatians 5:13 (NLT) says “For you have been called to live in freedom, my brothers and sisters. But don’t use your freedom to satisfy your sinful nature. Instead, use your freedom to serve one another in love"
courtesy of ChooseNow Ministries and Steve Repak
http://nicoleodell.com/2014/11/thanks...
Can debt free make life stress free?
Life is hard enough as it is but having to deal with debt along with raising your children will make life that much more stressful, on all of you! I had over $32,000 in credit card debt and that is not counting the other debt I had to deal with. Debt made my life much harder than what I could handle sometimes. To tell you the truth, I had nobody to blame except for myself but as soon as I started taking accountability for my situation and actually started making sacrifices by making smarter decisions with my spending, I started seeing real changes in my financial situation and also experienced a lot less stress as time went by.
I want to share with you 3 things to help you reduce your stress by reducing your debt.
1. Change Your Viewpoint
Many times we rationalize to ourselves when we don’t make the best decisions, especially when it comes to debt. The first realization is that there is no such thing as good debt. I am not saying that all debt is bad, but having debt will make your life more stressful. The sad truth is that we cannot totally escape all stress. Buying a house, paying for an education, or starting a business are a few examples of debt that aren’t bad but understand until those debts are paid off, you are adding risk to your financial health. Any debt you acquire for any other reasons (big screen TV, those new pair of designer shoes, that thing you really want but don’t really need) is bad debt and your life will be less stressful if you can just say no!
2. You need a spending plan
If you can spend less money than you earn each month, chances are you can live debt free. For many people, they have more month, than they have money and that is because most people do not make a plan for how they are going to spend their money. Discretionary expenses are usually the biggest culprit and what throws most people off their spending plan. Discretionary expenses are the things that you can do without. I am not saying you can’t spend money on things you can do without, but you must set boundaries in order to not overspend. For example family vacation. My family and I do not NEED a family vacation at the beach for a week, but we make a plan on how we are going to pay for it before we go. That might mean we have to eat out less throughout the year, make sacrifices with how many tv channels we subscribe to, or whatever little sacrifices we make throughout the year in order to set aside that money into a special account that we use to pay for our vacation instead of using a credit card.
3. The best defense is a strong offense
It is not a matter of if, it is only a matter of when some unexpected expense will occur and if you haven’t been building up your savings each month, most likely you will have no choice but to rely on a credit card to get through that financial difficulty. By allocating some of your money each month to savings can be one of your best defenses against emergencies. Make savings automatic and soon you won’t even miss it. I set my savings up like a bill pay, and each month, money is drafted out of my checking account to another financial institution.
Honestly, even if you are debt free that won’t mean your life will be stress free but I do believe by having less debt your life, you will have less stress in your life. The results of less stress is less bickering, better health, and most importantly a stronger relationship with your children because you won’t be worrying (stressing) about your finances as much.
Steve Repak, CFP®
Financial Literacy Speaker and the Author of "Dollars & Uncommon Sense: Basic Training For Your Money"
http://nicoleodell.com/2015/07/debt-f...
I want to share with you 3 things to help you reduce your stress by reducing your debt.
1. Change Your Viewpoint
Many times we rationalize to ourselves when we don’t make the best decisions, especially when it comes to debt. The first realization is that there is no such thing as good debt. I am not saying that all debt is bad, but having debt will make your life more stressful. The sad truth is that we cannot totally escape all stress. Buying a house, paying for an education, or starting a business are a few examples of debt that aren’t bad but understand until those debts are paid off, you are adding risk to your financial health. Any debt you acquire for any other reasons (big screen TV, those new pair of designer shoes, that thing you really want but don’t really need) is bad debt and your life will be less stressful if you can just say no!
2. You need a spending plan
If you can spend less money than you earn each month, chances are you can live debt free. For many people, they have more month, than they have money and that is because most people do not make a plan for how they are going to spend their money. Discretionary expenses are usually the biggest culprit and what throws most people off their spending plan. Discretionary expenses are the things that you can do without. I am not saying you can’t spend money on things you can do without, but you must set boundaries in order to not overspend. For example family vacation. My family and I do not NEED a family vacation at the beach for a week, but we make a plan on how we are going to pay for it before we go. That might mean we have to eat out less throughout the year, make sacrifices with how many tv channels we subscribe to, or whatever little sacrifices we make throughout the year in order to set aside that money into a special account that we use to pay for our vacation instead of using a credit card.
3. The best defense is a strong offense
It is not a matter of if, it is only a matter of when some unexpected expense will occur and if you haven’t been building up your savings each month, most likely you will have no choice but to rely on a credit card to get through that financial difficulty. By allocating some of your money each month to savings can be one of your best defenses against emergencies. Make savings automatic and soon you won’t even miss it. I set my savings up like a bill pay, and each month, money is drafted out of my checking account to another financial institution.
Honestly, even if you are debt free that won’t mean your life will be stress free but I do believe by having less debt your life, you will have less stress in your life. The results of less stress is less bickering, better health, and most importantly a stronger relationship with your children because you won’t be worrying (stressing) about your finances as much.
Steve Repak, CFP®
Financial Literacy Speaker and the Author of "Dollars & Uncommon Sense: Basic Training For Your Money"
http://nicoleodell.com/2015/07/debt-f...
