December 4, 2019
Financial planning can be difficult if you don’t have the knowledge and skill set to do it well. Making informed objective decisions is hard to do when you are emotionally involved with the outcome.
Join us for a discussion about why using a financial planner will benefit you in the long term and how to find a financial planner who is a good fit for you.
The Compass Catholic Blog has more on this topic.
September 25, 2019
Have you ever gotten a phone call from your own phone number? There are any number of ways people hide their true identity in an effort to scam you. They may want your money or your personal information but they are persistent in trying to get you to give them what they want.
We have suggestions for how to avoid being scammed by being smart about who you talk to, what information you share, and how you can protect the information the scammers want the most.
The Compass Catholic blog has additional ideas about avoiding scams.
July 24, 2019
Seniors in high school or college or recent graduates or are on the cusp of making financial decisions that may have a life-long impact. Help them become wise money managers and good stewards by being sure they have learned the important financial lessons. None of these lessons are complicated but they are all necessary to avoid future financial disasters.
The Compass Catholic blog has more on this topic.
May 15, 2019
John Kennedy, CFP and fiduciary, offers advice on saving for retirement. Check out this link and look at page 13 for the intersection of your age and salary. Multiply your salary by the number in the intersection to see how much you should have saved for retirement at your current age.
John also comments on his personal experience with the Compass Catholic Navigating Your Finances God’s Wayand Set Your House in OrderBible studies. Not only did it help him in his financial planner role, it also helped him and his wife communicate about their personal finances.
Read the Compass Catholic Blog for more benefits of using a financial planner.
April 24, 2019
Buying a home can be one of the best or worst things you’ll do financially. Plan ahead to make it your very best decision!
In addition to the mortgage, home ownership comes with many related costs, such as the down payment, closing costs, upkeep and maintenance. You also need to think about what you’ll need when you move in. Going from an apartment to a home may mean you’ll have to buy a lawnmower, tools, furniture, window coverings and other items that you never needed in an apartment.
One mistake we have seen people make is buying too much house. Do you really need the five bedroom house and all the related costs that come with it?
The other mistake is not getting a home inspection done by a licensed professional. Any home (even a new one) has a potential for problems. An inspection is one way to mitigate huge issues that can’t be seen with the naked eye.
Take your time and make a wise, practical financial decision and home ownership will provide many blessings.
The Compass Catholic blog has more on buying your first home.
April 3, 2019
Once we establish a spending habit, it’s hard to break. But stepping back and analyzing these five areas may put more money into your bank account each time you get paid.
Are you loaning the government money each month? Maybe it’s time to review that W4 form.
Have you had the same car insurance company for ages? Maybe it’s time to do some comparison shopping.
Is your credit report accurate? Maybe you should review your credit report to ensure there are no errors so you get the lowest rates possible on loans.
Are you using life insurance as a saving vehicle? Maybe it’s time to look at how much insurance you really need and get it the least expensive way.
Is money you need now mixed in with money you don’t need until months from now? Maybe it’s time to think about a separate bank account for longer term spending.
Check out out blog for more on this topic.
March 20, 2019
We rarely think about the end of life issues or what would happen if we became incapacitated due to illness or accident. What a blessing it would be to your family in this situation if all the important information they would need was up to date, organized and easy to locate.
Check out the Compass Catholic Bible study, Set Your House in Order. It’s a 5-week small group study which walks you through the process of getting all your important information created, updated and organized. There is no better gift you can give your family.
Our blog has more on this topic.
October 3, 2018
If you are experiencing financial challenges, you’re not alone. Consumer debt is at an all-time high. Credit cards, school loans, car loans, and medical bills can all pile up quickly. Whether your debt is the result of an illness, unemployment, or simply overspending, it can seem impossible to manage.
Join us for a discussion about how to tackle that mountain of debt and check out the Compass Catholic blog for more on avoiding a financial disaster.
April 11, 2018
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.
March 7, 2018
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!