November 14, 2018
Seems like we just jump from one buying season to another without much thought about why or even what we are celebrating. Debt can be the number one fear for many people at this time of year as they face the pressure to make everyone in their life happy by showering presents on them.
Join us and stop the madness by not going into one penny of debt for Christmas this year.
The Compass Catholic blog has more ideas about how to celebrate but stay sane in your spending.
November 7, 2018
As a church, we need to teach people that their faith and their finances go hand in hand towards having a stronger marriage. Unfortunately, most married couples learn about finances through Trial & Terror, which mean years of conflict, pain and arguing about money.
This week the Compass Catholic blog has more on how to tackle the money monster in marriage.
October 31, 2018
Avoid paying interest, don’t buy things you don’t need, and above all else, don’t get caught up in trying to live someone else’s lifestyle. These are all things frugal people do to avoid wasting money.
Read the Compass Catholic blog for more on how to save money by being conscious of the things you should never do.
October 24, 2018
You have a better chance of getting struck by lightning; dying in a car accident; becoming a victim of identity theft by the age of 40; being bitten by a dog while jogging or or even hitting a hole-in-one on your birthday than winning the lottery. Yet the average American buys $200 of lottery tickets per year.
It’s interesting to note that lotteries are exempt from truth in advertising laws. What may sound like such a good deal is really a bunch of lies.
Read the Compass Catholic blog for more on why the lottery isn’t the answer to your financial problems.
October 17, 2018
A cheap person will invest a lot of time and energy in order to save a dollar or two, but the time and effort they spend may not be worth the money they saved.
A frugal person saves money in a balanced way by thinking about how saving money impacts other areas of their life. Saving money is good, as long as it is done in a balanced way so you can enjoy life and recognize the tradeoffs you are making.
This week’s podcast and the Compass Catholic blog point out the differences between cheap and frugal.
October 10, 2018
Social security is only supposed to supplement your retirement income. It is not designed to provide your entire retirement income, so you need to save for retirement in a big way.
It’s up to each one of us to stop relying on the government to take care of us in retirement.
Join us for a discussion about Social Security and read the Compass Catholic blog for more about how secure Social Security really is.
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.
September 26, 2018
Is there more to life than accumulating money? Join us for a discussion on a Charles Schwab survey about wealth in America. Interestingly the most common responses about what it takes for people to feel wealthy have nothing to do with money.
Read the Compass Catholic blog for more on being wealthy versus feeling wealthy.
September 19, 2018
It’s time to clear the clutter if your garage is so full there’s no room for the car or your basement has boxes that haven’t been opened in years.
Here are tips for having a successful garage sale:
- Get organized ahead of time
- Decide on your advertising strategy
- Check to see if a permit is needed
- Invite your neighbors to participate
- Make your items easy to see—clothes on hangers, items on tables
- Plan how you’ll manage the money (cash box, carpenter apron?)
- Have plenty of change on hand
- Decide on a discount strategy for end of day or on specific items
- Prepare to handle leftover items
Join the Compass Catholic blog for more on having a successful garage sale.
September 12, 2018
You may think that keeping your mortgage for the tax benefits is a good idea, but the money you get in tax benefits comes nowhere near covering the amount of money you pay in interest. To pay off the mortgage early, try making one extra payment each year or each quarter. You can also try making bi-weekly payments (if your mortgage company will accept them). Another way to pay off the mortgage early is to funnel any windfalls to the mortgage (bonus, tax return, inheritance, etc.)
If you make anything other than the normal payment at the normal time, be sure to check with your mortgage company to be sure you understand how they will handle additional payments and how you designate the extra money you are paying. Once that is set, check your monthly statement to be sure your extra payment has been applied appropriately.
Join the Compass Catholic blog for more on getting rid of your mortgage.