May 8, 2019
If you don’t have the knowledge and skill set, do-it-yourself financial planning can turn into a huge disaster. It’s hard to make objective financial decisions 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. We will also share the questions to ask a financial planner before you decide to work with them.
The Compass Catholic Blog has more on this topic.
April 10, 2019
Vacations are great—they allow us to unplug from daily chores, work and responsibilities. We can spend time with family in a relaxed and unhurried way. We can explore places we haven’t been and just chill out.
The best way to plan for your vacation is to figure out a way to pay cash. That may mean your vacation is less than glamourous, but paying cash means no stack of vacation bills when you get back home.
Taking a vacation in 2019 and paying for it in 2022 may not be in your best financial interest. Set your financial goals for vacation and get the family involved. Teach your children how be set goals and work to achieve them.
That will allow you to return home stress and stay stress free with no looming mountain of debt. Keep that vacation feeling long after you get home!
Check out our blog for more on vacation planning
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 27, 2019
That new car smell is great, but leasing one car after another means spending more money in the long run. Buying a car means you have an asset (even though it is a depreciating asset.) When you lease a car, you have nothing at the end of the lease - no transportation, nothing to trade in or sell.
It is hard to compare leasing versus buying head-to-head because they are so different and each is based on different parameters. Join us for more on why leasing may not be good for you. Our recommendation is to buy a certified used car and drive it till the wheels come off.
Check out the Compass Catholic blog for more
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.
March 13, 2019
When people retire, many times the goal is to simply stop working. As our lifespan increases, retirement can be a time of great fulfillment by planning well in the following areas:
- Talk to your spouse to develop a joint plan for retirement.
- Use a budget before retiring to manage your income and spending in retirement.
- Ditch the debt so you can be debt free when you retire.
- Find a passion to use your talents and skills in serving others.
Retirement can be the most fulfilling time of your life if you plan to make it so.
The Compass Catholic blog has more thoughts on retiring well.
Check out our retirement calculators as part of your planning process.
March 6, 2019
We would all be a lot happier if we defined financial success based on our own life, resources, capabilities and progress. Judging your circumstances against other people can be disheartening. All God is calling you to do is be a faithful steward of the blessings he has given to you, with no regard to what the next person is doing
The Compass Catholic blog has more on defining financial success for yourself.
Based on a listener's question, here are the percentage guidelines for various budget categories. The link will download a spreadsheet to your computer. Use this as a starting point and customize it to fit your life.
February 27, 2019
Health care sharing plans are gaining popularity in the face of the rising cost of traditional health insurance. Both traditional insurance and health care sharing plans have pros and cons, so be sure you know the difference.
For an overview of health care sharing plans, check out last week’s podcast and blog, which also provides links to the major health care sharing plans. This week we’ll focus on what health care sharing plans do not cover and what questions to consider asking if you are making a decision on which to buy. Be sure to check out the related blog on this topic.