Compass Catholic

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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.

The Christmas bills have arrived, now what?

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Shopping for Christmas can be a lot of fun. But when the bills arrive in January, it’s not so much fun. Listen in and visit the Compass Catholic blog for some ideas about how to get those bills paid off.

Money Saving Ideas

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Saving money can seem like and overwhelming task, but it is possible if you search for every way possible to cut your costs. It is also important to save with the right attitude. Savings should be used to take of your family. If you are saving with the goal of getting rich, you are like the rich fool we read about in Luke chapter 12.

Visit the Compass Catholic blog and get a free eBook of Your Money Counts to help you save.

What does it mean to - Set Your House in Order?

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Set Your House In Order is a 5-week Bible study to help you create, update and organize all your important information (health care surrogate, power of attorney, passwords, advisors, assets, debts, will, insurance, etc.) If there is an accident, illness or death, the most important gift you can give your family is organized information.

Check out details about the Set Your House in Order study to learn more. Be sure to check out our blog.

Whether you are young or old, married or single, working or retired this Bible study will be helpful to you.  Use the “contact us” link to request more information or call us at 844-447-6263.

What Does Your 2018 Financial Plan Look Like?

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Now is the time to look at your 2017 financial plan and update it for 2018. If you don’t have a financial plan or aren’t sure where to start, this podcast is for you.  To learn more, connect with us via the Compass Catholic ministries website and read the related blog.

Navigating Your Finances God’s Way

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Even if they regularly attend Mass, most Catholics don’t fully recognize all that God has to say about money and possessions. Everything we need to know about how to spend, save, give and manage money can be found in over 2,500 verses in the Bible. Discover true financial freedom!

Visit the Compass Catholic blog and check out the Compass Catholic Bible Studies page for more info on Navigating Your Finances God’s Way a 9-week Bible study that will change your financial future!