Change Maker by Compass Catholic Ministries

Money Stories: Building A Business with John and Jaclyn Kennedy

When John Kennedy decided to leave the firm he was with and start his own business, he knew that decision would impact his family, financially and otherwise. In this episode of Money Stories, John and Jaclyn Kennedy share how they navigated this decision as a family and lessons learned along the way.

Challenge Your Expenses

It is easy to get into a spending rut and not pay attention to where the money is going. But those assumptive spending habits can be wasting your hard earned cash.

Look at both the big things and the small things you buy on a regular basis in order to challenge each and every expense to see what can be eliminated.

The Compass Catholic blog has more on which expenses to challenge. Your bank account will thank you!

Money Decisions for Your Marriage

Money can destroy a marriage.

All the assumptions and experiences of the way your family used and managed money come into your marriage. Each spouse was raised in a different environment, so no two people come into a marriage thinking exactly the same way as their spouse on any issue, most especially money. And that difference can mean disaster.

Learn how to tackle those important money decisions as a team in this podcast and the Compass Catholic blog

How to Handle a Financial Pandemic

The world seems a little upside down right now with a lot of uncertainty about the spread of the COVID-19 virus, consumer mayhem in stores, events being cancelled and the ensuring financial panic.

We may be on edge because of uncertainty or we may be in panic mode because everyone around us in is panic mode and the media is doing a great job of spreading the fears.

None of us knows the future. All we have is today. If you are feeling overwhelmed by everything around you, meditate on these verses:

Isaiah 41: 10 “Do not fear: I am with you; do not be anxious: I am your God. I will strengthen you, I will help you, I will uphold you with my victorious right hand.”

Psalm 46:2  “God is our refuge and our strength, an ever-present help in distress.”

The Compass Catholic blog has more on staying calm while the winds of fortune swirl around us. It also has links to several charts showing the ups and downs of the financial market. 

Tackle Your Taxes

Filing your tax return is a once-a-year event but paying attention to your taxes all year could easily save you thousands of dollars.

The goal is to be tax neutral–not paying too much or too little. The Compass blog has more on what to consider in adjusting your W-4 so you can come out as close as possible to that net zero goal.

Our guest on this podcast is Matt Marcoux, CFP and co-founder of CandorPath Financial.

Lessons from a Financial Train Wreck

The WealthSimple.com website features interesting people telling their financial life stories in their own words.

While many of the stories are uplifting as people have gotten their finances straightened out, many of the stories are so sad as the people have gotten themselves in to terrible financial situations.

This is the story of one couple who did just about everything wrong in their finances. AND they continue to make the same mistakes.

Here’s their story and suggestions about how we at Compass Catholic can help people recover from these same mistakes.

How to Complain Effectively

No matter how careful you are when buying goods or services, you may run into problems and when that happens, here are tips on how to get your complaint heard and resolved:

• Be very clear about the problem
• Define the resolution you expect
• Mention the company’s reputation
• Follow the complaint process if there is one
• Complain using e-mail, or in person, rather than phoning
• Keep track of the details
• Use social media
• If you don’t get the response you want, say so
• Take it to the next level

The Compass Catholic blog has more details about how to complain and get the resolution you want.

7 Steps to Help You Keep Your Resolutions

The failure rate for keeping new year resolutions is 80%.  What seems like a good idea at the time can turn into drudgery if you don’t have a solid plan in place for how to actually keep the resolutions you make—whether you make them at the beginning of the year or the middle of July.

Here are 7 Steps to help you keep those resolutions:

1. Make one or two resolutions, not more
2. Define the reason you want to make the change
3. Make sure your resolution is achievable
4. Make your resolution part of a long term goal
5. Make the resolution very specific
6. Automate as much as you can
7. Check you progress regularly

The Compass Catholic blog has more details about the above suggestions for actually making the change you want in your life.

Should I Invest or Pay Off Debt?

Are you confused by trying to figure out whether it’s better to pay off debt or invest?  The answer is to do both in an organized approach. Just like losing weight includes both diet and exercise, a solid financial plan includes both paying off debt and investing for the future.  

Before you start investing aggressively, there are some basic financial principles to put into place, such as tackling credit card debt, having an emergency fund and setting up a spending plan.

Listen in or click on our blog link for suggestions on getting your debt paid off so you can invest and meet your long term goals.

Your Financial Health Checkup

Is your financial vision 2020? You’ll never know unless you do the financial version of an eye test by performing a financial health checkup.  Figure out your current financial situation and define what’s going to change or remain the same in 2020. Match that against your short, mid and long term goals to see what you need to modify to improve your financial vision.

The Compass Money Map is a great place to start and the Compass blog has more about a financial health checkup.