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What is Your Stock Market Mentality?

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Following the stock market can drive you crazy if you take it too seriously. We are called to be good stewards of all the blessings God has bestowed upon us. And being a good steward means handling our time, talent and treasure in a God honoring way and it also means putting our material wealth into the proper perspective.

Know what is happening in the stock market, but don’t obsess over it. Realize that God owns everything and he is in control—not you!

Listen in and check out our blog to learn more about a spiritual viewpoint of the stock market.

Great Ways to Use Your Tax Refund

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Are you getting a big chunk of change back from Uncle Sam for your 2017 tax return?  Your goal in 2018 should be to be tax neutral—not owing too much and not getting too much back. Listen in for ideas about how to do that. If you are getting a refund this year, we also have ideas for how you can us it productively.

Check out our blog for more about using your tax refund.

Millennial Money Matters

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Student loan debt, a challenging job market, and lack of savings can all mean a dismal financial future for millennials, but there's good news and bad news.

The National Institute for Retirement Security reports that 45% of millennials do not meet the eligibility requirements to participate in an employer sponsored retirement plan.

At the same time, they are much better at staying out of credit card debt than preceding generations according to a Bankrate.com survey.

Listen in and check out our blog to learn more about millennials and money matters.

How to Safeguard a Senior’s Finances

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Whether you are a senior citizen or trying to help one, there are all kinds of financial agreements that may take advantage of vulnerable, trusting seniors. The most likely are reverse mortgages, no interest loans and unauthorized charges.

The Consumer Financial Protection Bureau (CFPB) provides resources for older adults as well as their care givers (Managing Someone Else’s Money).

Listen in and check out our blog to learn more about how you can help seniors avoid financial situations that are not in their best interest.

What is Socially Responsible Investing?

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Have you ever considered socially responsible investing which balances a high return with investing in companies and businesses whose products and services are aligned with our Catholic faith?

The reason we invest and save is to maximize our return on the investments we make.  But we can unknowingly invest in companies that harm our society, and which are contrary to our faith.

Listen in and check out our blog to learn more!

What is a CRISIS BUDGET and When do I Use it?

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Planning for the unplanned financial crisis will help you survive economic setbacks with minimum impact to your financial stability. Here’s how:

  • Use a budget and know how much you are spending on a monthly basis.
  • Think about the most likely financial crisis that may occur.
  • Update your monthly budget to reflect the most likely loss of income or increased expenses.
  • Try living on the crisis budget for a month.
  • Implement the crisis budget immediately if there is even a hint of the crisis becoming a reality.

Listen in and check out our blog to learn more!

Why you should be checking your credit report and score

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Staying on top of your credit report and credit score means you are monitoring your financial health.  Here are some tips:

  • A bad credit score means you’ll pay higher interest rates
  • Your credit report and credit score are different
  • You should monitor your credit report on a regular basis for errors
  • There are several free ways to get your credit score through identity monitoring agencies, banks or credit card companies
  • You can improve your credit score by paying attention to how it is calculated.

Listen in and check out our blog to learn more!

What do people want from their financial lives

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A recent article in USA Today by Peter Dunn said that what most people want in their financial life is self-control. While we agree with some things he said, we think he stopped one step short of the ultimate goal. Self-control leads to the ultimate goal which is contentment. Learning self-control is a step in being content. And when you become content it does not matter if you have a little or a lot, you are content knowing that you are just where the Lord wants you.

Check out our blog for more.

How do You Know if Your Spending is out of Control

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Just like those extra pounds seem to pile on, we can slowly develop habits that lead to out of control spending. How do you know if you are in that situation? Listen in and see if any of these clues apply to you:

  • You buy something just because it’s on sale
  • You have to buy the newest thing just because it’s NEW
  • You waste money on unnecessary fees
  • You eat at a restaurant more than you eat at home
  • You don’t take advantage of loyalty programs where you spend the most money.

Check out our blog for more!

Tax Planning - it’s about seeing more money in your paycheck

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It’s tax time, and here are some tips to reduce your tax burden:

  • Decide whether to use the standard deductions or itemize your deductions
  • If you itemize, track expenses that are deductible throughout the year.
  • Take advantage of mortgage interest deductions
  • Google W4 withholding calculators to determine if you need to adjust the number of deductions you are taking on your W4 form
  • Boost your retirement savings and reduce your taxes
  • Take advantage of employer programs for your health care flex spending and child care costs.

Your goal is to be tax neutral–not paying too much at tax time and not using your income taxes as an interest free loan to the government.

To learn more, connect with us via the Compass Catholic Blog.