I Was Broke. Now I'm Not!

Every month there will be an update of Joe & Jenn's Home Pay-Off Spectacular!

Here's this month's update!

Total Squares: 2,426

Paid-For Squares: WAS 743 IS 748

Squares Remaining: WAS 1683 IS 1678

% of House Owned By The Sangl's: WAS 30.6% IS 30.8%

% of House Owned By Wells Fargo: WAS 69.4% IS 69.2%

Here is the updated "Sangl Home Pay-Off Spectacular" (Click on the picture to view the larger version)


You can read about how Jenn and I stopped being broke, and won with money in my book,

I Was Broke. Now I'm Not.

Observed on a sign …

"God please help me through this totally self-imposed deadline."

I have many times implemented a self-imposed deadline and allowed it to create stress in my life.

Deadlines are good. But when the deadline prevents me from ensuring that I do what is URGENT AND IMPORTANT first, then it is terrible.

Are you working on things that are URGENT AND IMPORTANT today or are you allowing all of the self-imposed deadlines to rule your schedule?

Perhaps the

Time Budget - By the Half-Hour or Time Budget - By The Hour from the TOOLS page will help you take control of your schedule again!

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Receive each post automatically in your E-MAIL by clicking

Text is HERE and Link is http://www.feedburner.com/fb/a/emailverifySubmit?feedId=1041637&loc=en_US

HERE.

After numerous requests, there is now a Savings Spectacular for Emergency Funds!

If you are saving for a $1,000 Emergency Fund or a $2,500 Emergency Fund, we have the forms for you!

Savings Spectacular - Emergency Fund One Thousand Dollars

Savings Spectacular - Emergency Fund Two Thousand Five Hundr...

Color in the squares as you purchase financial freedom for your family!

If you have a request for a Savings or Debt Pay-Off Spectacular, share in the comments, and I will get one prepared for you.

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Welcome to the latest series -

YOU Answer The Question!

One thing that I love about traveling and teaching about finances is that I learn so much from the people I meet!

So here is how this series works. I will share a question that has been sent in to me, and YOU Answer The Question!

QUESTION: How do I find an investment advisor I can trust?

Share Your Answer!

Welcome to the latest series -

YOU Answer The Question!

One thing that I love about traveling and teaching about finances is that I learn so much from the people I meet!

So here is how this series works. I will share a question that has been sent in to me, and YOU Answer The Question!

QUESTION: We have had our car insurance with the same company for twenty years. We know we are paying too much so we are obtaining new car insurance quotes. Once I get the new quotes, should I contact my current insurer and ask for a counter-offer? I am hesitant because we have been with them for so long.

Share Your Answer!

Welcome to the latest series -

YOU Answer The Question!

One thing that I love about traveling and teaching about finances is that I learn so much from the people I meet!

So here is how this series works. I will share a question that has been sent in to me, and YOU Answer The Question!

QUESTION: I am 49 year old single person with no small children, and I am looking to purchase term life insurance for myself. Do I still need eight to ten times my salary in insurance or just enough to cover any expenses my children will face?

Share Your Answer!

Welcome to the latest series -

YOU Answer The Question!

One thing that I love about traveling and teaching about finances is that I learn so much from the people I meet!

So here is how this series works. I will share a question that has been sent in to me, and YOU Answer The Question!

QUESTION: I want to work on getting some mutual funds, but I haven't the faintest idea where to start … Do I just go to Fidelity and say "I want some mutual funds" or what?

Share Your Answer!

Welcome to the latest series - YOU Answer The Question!

One thing that I love about traveling and teaching about finances is that I learn so much from the people I meet!

So here is how this new series works. I will share a question that has been sent in to me, and YOU Answer The Question!

QUESTION: What do you do when you really want to get on the right track financially and your spouse is not as willing to participate?

Share Your Answer!

Do you have a question of your own? Ask me

Text is HERE and Link is http://www.josephsangl.com/?page_id=2

HERE!

A new series will be appearing tomorrow. It is called "YOU Answer The Question." It should be a blast, and I hope that you will participate!

Other news
* The comments for the Debt Freedom Marches this month were great! Thanks for being so supportive of these three couples who are sharing with the world their own successes and struggles as they march toward financial freedom.
* I ordered more copies of I Was Broke. Now I'm Not. last Thursday. I cannot believe what has happened with this book. To all who have purchased a copy, I am so grateful! It is my goal to have taught 100,000 people by October 2011. I count each copy sold as a person taught. It is my passion to help others accomplish far more than they ever thought possible with their personal finances. This book is just one avenue that allows me to do this!
* The I Was Broke. Now I'm Not. Home Group Study is progressing well! I am so PUMPED about this study because it allows folks to go through the book and APPLY this stuff with the people that they are doing life with. That is where real life change can happen! We are still on target for a release of this material by the end of July.
* This crusade to help others with their personal finances is jumping to an entirely new level. I am really looking forward to the next couple of months!

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Introduction
This couple has been married for many years and have one child. They have HAD IT with their debt and have been marching toward debt freedom since November 2007. They are THROUGH with credit cards.

What went well this month?
We took out a 401(k) loan to pay off four high-interest credit cards. This allows us to pay a MUCH lower interest rate, and even better… we pay the interest back TO US! We are now hoping that we can take advantage of some 0% interest offers and transfer the remaining balances to those cards.

What were the challenges/struggles this month?
Trying to not get discouraged about not getting it all paid off now! We are also planning on making higher payments on the lowest debt as soon as we see what the 401(k) loan payment does to the paycheck.

Updated Debt Freedom Date …


Month By Month Progress …


What has helped you stay on this Debt Freedom March?
Knowing that one day we will be DEBT-FREE and not live paycheck to paycheck!

How has this Debt Freedom March impacted your marriage relationship?
We are actually closer now and get this: WE DON'T FIGHT ABOUT MONEY!!! We both know what we owe and we are both on the same page to GET IT PAID OFF!

Sangl says …
Couple #3 has completed part two of their three part plan to restructure their debt. Their credit cards had hugely punitive rates - all of them 20% or higher. This was really killing their ability to attack the debt principal. With the majority of their debt now at a much lower interest rate (some of it at 0%!), they are now positioned to make tremendous strides toward Debt Freedom!

In my meetings with thousands of people, I have seen situations like this completely intimidate someone and they allow it to prevent them from taking charge of their finances. Couple #3, I applaud you for sticking with this! You guys CAN do this, and you will! And all of us will have this front row seat to cheer you on. Way to go!

Readers …
Would you leave some words of encouragement for Couple #3 in the comment section?

If you are totally intimidated by your financial situation, I would be glad to help in any way that I can. We offer FREE one-on-one financial counseling through NewSpring Church in Anderson, SC. I have even begun offering a very limited number of on-line appointments. If you are interested in receiving financial counseling, please contact me

HERE.

Introduction
This couple is THROUGH with debt! It has now been eight months since they announced that they were breaking up with debt. They have agreed to share their Debt Freedom March with everyone in the hopes to inspire others to do the same!

Here is this month's update.

What went well this month?
Everything went well. We have really got a handle on our budget, and we don't seem to have many struggles.

Challenges and struggles this month?
We both are in sales, so sometimes we have extra money come in that is not budgeted. Our goal is to put that money toward debt. This month we had a little extra money, and we did not put it toward debt… we used it as play money. We want to work on this for the future so we can shorten our Debt Freedom date. But, we didn't beat ourselves up for it. We work hard and enjoyed doing a little extra spending this month. We expect a bonus or two next month, and we are going to try and put a little bit of it toward debt. Wish us luck!

Here is their updated

Debt Freedom Date calculation …


Month By Month Progress …


What has helped you stay on this Debt Freedom March?
There are several reasons why we have stuck to the plan. The Debt Freedom March has provided structure for our money. We have enjoyed paying our bills all at one time and not having to worry about paying bills again until the next month. We never worry about having "unexpected expenses" because we have the "known upcoming expenses" account set up. Another bonus is we don't noticed "pay day" anymore because we are not living paycheck to paycheck. All in all, this plan helps us feel in control of our money and our future. We are starting to see the light at the end of the tunnel, and that keeps us going along. We are looking forward to being debt free, and there is no way we are going to stop now.

How has this Debt Freedom March impacted your marriage relationship?
Luckily, we have always had the same view about how we spend our money and what we want for the future. Believe it or not… we have never fought about money. So, I guess I would have to say the debt freedom plan has helped us work as a team and look toward our future in a different way. We see ourselves having the life we want without the headache of worrying how we are going to pay for it. I am sure it has impacted us in other ways that we are not aware of at this time. But, I have no doubt that we will be able to look back in 10 years and see that sticking to the Debt Freedom March impacted our lives more that we could have ever imagined.

Sangl says …
Nine months ago, Couple #2 caught a vision of what life could be like without payments. In this nine month period, they have been able to knock fifteen months off their Debt Freedom Date! At this current rate, they will become debt-free in around eighteen months (January 2010) and it will have taken them only 27 months total to do it!

When they become debt-free, they will have freed up $1,775 in take-home pay every single month! How much does one have to earn to bring home $1,775? About $2,500 if their total tax rate is 30%! This means that they are going to give themselves a $30,000/year raise in about eighteen months!

I love this stuff!

Readers …
How much do you send to debt each month? Why not pay it off and give yourself a massive pay raise?

You can do this too! I share my story and teach these tools in my book, I Was Broke. Now I'm Not.

This stuff FIRES ME UP!!!!

Introduction
Couple #1 is THROUGH with debt! They have been married for many years and have two children. They are now NINE months into their Debt Freedom March.

What went well this month?
Everything went reasonably well. We had a few unexpected bills but that is life. The rising cost of living is eating into our monthly budget a little but we are on track.

What were the challenges/struggles this month?
GAS, FOOD!!!

Updated Debt Freedom Date


Month By Month Progress


What has helped you stay on this Debt Freedom March?

The prize at the end of this is not being indebted to the leeches. I want to be free of the weight of debt. It is a cancer.

How has this Debt Freedom March impacted your marriage relationship?

It has created a sense of trust and unity. Together we are invincible, and we have a little change in our pocket.

Sangl says …
There are several success stories this month! Did you notice that Couple #1 paid off TWO credit cards this month? Lowe's and Discover both went into the "PAID OFF!" area this month. AWESOME! Also, they have paid off $17,963 in debt in just nine months. That is INCREDIBLE! That is a new car's worth of debt. Couple #1 could have continued living like they had in the past, and they would have been able to pay the bills fine. But they have caught a glimpse of what life is going to be like without debt, and nothing can stop them.

This is what this entire crusade is all about. Helping others accomplish far more than they ever thought possible with their personal finances! I LOVE THIS STUFF!

Readers …
What is your Debt Freedom Date? I hope it is zero or approaching it quickly!

Read Previous Monthly Updates For Couple #1

HERE

In my book that was released in January, I share the story of my Debt Freedom March and teach the exact tools that Jenn and I used to become debt-free. You can do it too! You can read the book's introduction HERE.

Every month there will be an update of Joe & Jenn's Home Pay-Off Spectacular!

Here's this month's update!
Total Squares: 2,426
Paid-For Squares: WAS 739 IS 743
Squares Remaining: WAS 1687 IS 1683
% of House Owned By The Sangl's: WAS 30.5% IS 30.6%
% of House Owned By Wells Fargo: WAS 69.5% IS 69.4%

Here is the updated "Sangl Home Pay-Off Spectacular" (Click on the picture to view the larger version)


Jenn has retired to be a stay-at-home mom again. This will certainly impact the Sangl Home Pay-Off Spectacular, but it was important for the Sangl Family to make this decision. I am so proud of my bride for making the tough decision to be a stay-at-home mother again. It is hard to say goodbye to a great job and a great income, but this was the right decision for the Sangl Family right now.

We do know this: Because we have a written spending plan, we will not have to worry about incurring a pile of debt because of this decision. We will, in fact, be able to continue to attack the mortgage. All because we have a written plan that we follow! I LOVE THIS STUFF!

How are you doing on YOUR house payoff spectacular? Don't have one? Get yours here =>

Pay Off Spectacular - House.

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You can read about how Jenn and I stopped being broke, and won with our money in my new book, I Was Broke. Now I'm Not. It is available via PAYPAL, AMAZON.COM, or BORDERS.COM.

With both cooling units failing in my house over the past week, I have learned a lot about heat pumps.

I thought I would share a few things that I have been told. Feel free to correct me if I am wrong!

* Loud electrical buzzing sounds coming from the exterior unit are not normal and should be looked into right away.
* If you have to put both hands right against the vents to see if air is blowing out, and you still have to guess whether or not it is blowing out air - it's not!
* If you use your electronic thermostat to adjust the temperature more than two degrees, you will be activating the emergency heat strips in the wintertime. This is horribly inefficient and be prepared to fork out a ton of cash to cover that cost.
* Heat pumps work most efficiently when they are set at a temperature and left there.
* The cool air blowing out of the vents should be at least twenty degrees less than the outside air temperature.
* It is great to have friends and family who work on HVAC for a living!
* It is probably best to have a thirty-something year old HVAC unit inspected at least once each year.

Any other lessons I need to learn about the AC?

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I have a thirty-something year old house. It has thirty-something year old house problems. One of those problems is the fact that it still has its original HVAC units.

Now, the average American would go through life with $4.13 in the bank account and no margin for life to happen. "Life Happens" events like the HVAC unit going out. Luckily, Jenn and I stopped living with blinders on and have saved for such events.

So here is the story.

In February, I received a MONSTER electric bill. My reaction was like, "OH MY GOODNESS! I could color in a ton of squares on the

Sangl Family Home Pay-Off Spectacular if I did not have this huge electric bill." So I did what anyone would do, I lowered the temperature of the thermostat and said to myself that we would just be a little chilly. Well, we FROZE for the month of March and received another MONSTER electric bill.

I said to myself, "This sucks. I am FREEZING and paying a ton of money on this stupid electric bill."

Luckily in April it warmed up nicely here in SC, and I was able to turn off the HVAC units. I have been able to leave them off until this week. On Monday night, it was over eighty degrees in the house and humid. So I cranked on the AC and went to sleep. When I woke up in the morning, it was still smoking hot.

Uh oh.

I called my father-in-law who does HVAC for a living, but he lives far away. He told me to do some stuff, but all of it would involve me electrocuting myself so I decided to call my local friendly repairman (who also happens to be in my home group).

A short survey of the situation revealed that the condenser fan was not spinning. Thus the large electrical buzzing sound that has been coming out of the unit since FEBRUARY. Did I mention that it was buzzing since FEBRUARY? Oh, I guess that sound was important to note.

Turns out that I heated my house with the emergency strip heating for two straight months instead of the heat pump. Turns out that consumes enormous amounts of electricity. Turns out it consumed a lot of my budget for two months.

A few hundred dollars later, we are nice and cool again. With thirty-something-year-old units. It might help to know that I have money saved up to replace these units when they totally fail on me.

Do you have margin in your life to absorb "Life Happens" events?

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You can read about how Jenn and I stopped being broke and won with our money in my new book, I Was Broke. Now I'm Not. It is available via PAYPAL, AMAZON.COM, or BORDERS.COM. You can read the Introduction HERE.

I do not know if you have checked out the "I Was Broke. Now I'm Not." podcast recently, but perhaps you should.

Top Five Reasons to check out the podcast
1. It averages seven minutes in length. Never longer than ten minutes.
2. I always answer a question asked by one of the readers.
3. I always share a success story sent in by one of the readers.
4. It is free.
5. You might hear me yell, holler, and scream because I am so FIRED UP about what is happening through this crusade!

To subscribe to the podcast via iTunes, click

HERE. If you do not have iTunes, you can download a mp3 by clicking HERE.

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I really feel like it would be helpful to follow up on this because this is such a common part of all of our lives! We are ALL impulsive. It seems to be different things for each of us, but we all have a case of impulsiveness every now and then.

I wanted to share some of the feedback that was sent in via the comments or from the "

E-mail Joe" link.

* Let there be … TIME between the "I WANT THAT!" moment and the actual "Purchasing Decision" moment. The more time between the two moments, the clearer the decision will be.
* Let there be … ADVICE from someone you trust and wants to see you prosper. If you are married, this is your spouse!
* Let there be … A WRITTEN PLAN that spends all of your money on paper every month BEFORE the month and money arrive. When you have personally helped prepare the spending of your money on paper, you are much more aware about whether or not you can afford the "I WANT THAT!" item.

Great conversation! I wonder if any of you out there would share some "near misses" where you almost made a horrible, snap-judgment financial decision but you did not. What helped you make the decision to back out? How does it feel now as you look back on the situation?

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When I worked in Corporate America, I flew a lot. A LOT. My primary travel path was Chicago to San Diego and then across the border to Tijuana. That plane ride was over four hours long. You might not like that long of a flight, but I loved it. I could get so much work done!

With most of what I do today, I travel via car. However, I traveled via plane last weekend to teach the Financial Learning Experience at C3 Church in Orlando, Florida. I had forgotten how awesome it is to be on a plane at 35,000 feet.

I had such clear thoughts! I was working on yet another revision of the I Was Broke. Now I'm Not. home group study that will be released in late July. The thoughts were so clear. I was on my game! I got so much done!

I wonder why flying allows me to think so much clearer?

I suspect it has something to do with the fact that nearly all of my normal distractions are removed (e-mail, friends, cell phone).

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You can receive each post from JosephSangl.com via E-MAIL by clicking HERE!

I was teaching the

Financial Learning Experience here at NewSpring Church on Tuesday evening this week, and I had a gentleman raise his hand and ask this question.

"How Do I Stop Being Impulsive?"

My answer? I don't know to stop the impulsive nature, but I DO know how to control my impulse to spend recklessly.

I am a SPENDER. I am the type of person who would go out and accidentally buy a truck. I am a spender to my very core. I like buying things.

Here are some steps I have taken that helped me reign in my impulsive spending nature, and it has allowed us to win financially!
* Written Spending Plan Putting together a written spending plan EVERY month before the month begins using the budget forms that are available on the TOOLS page. Jenn and I do this EVERY month before the month begins. Did you catch that? EVERY month. It reinforces the fact that we cannot flippantly spend our money and expect to succeed.
* Cash Envelopes I am an impulsive spender, but even I will not impulsively spend money on the electric bill. I won't impulsively purchase gasoline. I don't impulsively send extra money to the cable company. There are some things that I am not going to impulsively spend money on. However, there are some things that I am VERY impulsive about. Items like groceries, dining out, clothes, spending money, and entertainment. I can go through some money really fast with these items! Since I KNOW that I am impulsive for these spending categories, I use cash envelopes. At the start of the month we add up the amount we have put in the budget for these categories. We then pull that amount out in CASH. The rule is that we can not pull more money out from the bank AND we can not use the ATM or debit card. I can not overspend cash.
* Chopped Up Credit Cards You may pay yours off every month, but the vast majority of Americans do not. I was part of the vast majority, and I had to admit that I was a completely LOSER with credit cards. I ran those stupid things up three different times. STUPID with them. They really catered to my impulsive nature. So I did what had to be done and applied the scissor blades to them and shut the accounts down.

If you are a fellow spender, what have you done to control your impulsive spending habits?

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You can read about how Jenn and I stopped being broke, and won with our money in my new book, I Was Broke. Now I'm Not. It is available via PAYPAL, AMAZON.COM, or BORDERS.COM.

Have you ever started something new that you really wanted to stay committed to?

Diets, budgets, exercise, prayer, earlier bedtime, more time with spouse/children.

We start off so great. We can't be stopped. In the gym by 5AM. No chocolate for a month. Asleep at 10PM. Prayed every day for a week.

THEN life happens. Our favorite show is on with a one-hour special. The ice cream truck came by. The snooze button was found. We get busy, life happens, and we fall off of the wagon.

I regularly counsel folks who have fallen off of the wagon with their finances. They are so crestfallen. So sorrowful. So frustrated. Maybe even depressed.

"What should we do?" they ask.

Get back on the wagon!

Put together a new spending plan. Recalculate the debt freedom date. Figure out what caused you to fall off of the wagon in the first place and seek ways to prevent it from happening again.

I know that YOU CAN DO THIS! I was able to do it. You can too! Anyone who has read

I Was Broke. Now I'm Not. knows that I include a line at the end of each chapter that says "I believe in you!" You CAN do this.

Here are some common reasons for wagon bruises (develop when one falls off of the wagon).
* No emergency fund. This is the number one cause of wagon bruises. If there is no protection from "life happens" events, one will be highly susceptible to wagon bruising.
* Not saving for KNOWN, upcoming expenses. We know that Christmas is coming. That property taxes will come due. We know that the car WILL break down and that the tires will need replaced. Whether one saves for these expenses or not, the KNOWN, upcoming expense will still occur.
* Spouses not on the same page. If both spouses are not on the same page financially, it can really lead to some severe wagon bruising.
* Bad case of "I-Want-This-Now-Itis". If one can not say "NO!" when tempted to blow the spending plan, it will cause a financial mess.
* Lack of accountability. This really affects single folks a lot. There is no one to say, "Maybe you should reconsider that decision." It is really easy to overspend when there is no accountability.

Have you ever fell off of the wagon? Share how bad the wagon bruises were and what you did to get back on the wagon.

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Jenn and I were coming back from teaching the

Financial Learning Experience recently, and I looked in the back seat and saw this.



Yes. That is my daughter reading a copy of my book. Very humbling.

Flash forward a few nights. I go upstairs and see my daughter lying in bed reading the book some more. Here is the conversation.

Me You reading the book again?

Her Yeah. I think it is so funny how you had so much debt and Mom did not.

Me You think that is funny?

Her Yes! You caused all of the debt problems.

Me Yes I did. But I stopped spending money, and we became debt-free.

Her Yeah, but you still caused all of the debt problems. That's funny!

It was so humbling, but I am so FIRED UP that I was able to say the "we became debt-free" part!

Yes, honey, Dad messed up with money, but I woke up one day, shouted "I HAVE HAD ENOUGH!", and we marched out of debt and into financial freedom.

Melea, that is why Dad is on a crusade. I am on a crusade to help as many people as I can get out of their financial mess and achieve financial freedom.

I know that many times, we feel like we need to wear the mask. The one that says everything is perfect, nothing ever goes wrong, and I have never struggled with anything.

It seems that when it comes to finances, most of us want to wear a mask. The mask that says "We are doing fine." One that says, "I am doing better than you are." Maybe one that says, "I have a lot of money. More than you. No, WAY more than you."

The mask that says, "I am doing well financially." even though one is financed up to their eyeballs.

Ultimately there is the truth. The truth is that over 70% of Americans are living paycheck-to-paycheck. If they miss ONE paycheck, they will fall behind on one or more bills. The truth is that somewhere around 20% of Americans are not only living paycheck-to-paycheck, but they are already behind on one or more bills.

The truth trumps the mask every single time, and I love it when people get real.

When they say, "I HAVE HAD ENOUGH!", and embark on the quest to take control of their finances. When they realize that they CAN win with their money, and they seek knowledge on how to do so. I love it when they get so real that they invite their friends, family, co-workers, and neighbors over to the house for dinner and then show them how to put together a budget that works.

I LOVE IT when that happens!

There was a day that I felt like I needed to show everyone that I was doing really well financially, but the reality was that I had an average bank balance of $4.13. I dropped the pose (PRIDE), said "I STINK at this!", and I went and got help.

Dave Ramsey absolutely rocked my world with his 7 Baby Steps. You can click

HERE to print your own copy!

Are you being real about your financial situation?

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Funny, but not funny cartoon from CartoonStock.com -

The TRUTH about pay raises at many corporations.

"That $20 paycheck deduction is for new benefits - like the $10 raise you just got."

ARGH. You can't put enough spin on that statement to make it look pretty!

Has anyone experienced a similar situation where you received a "raise" and then an increase in benefit costs that completely vaporized the raise and then some?

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I had a blast teaching the

Financial Learning Experience in Orlando, Florida at C3 Church! I was blown away by the hospitality shown to me by their pastor Byron Bledsoe and executive pastor Barry Leathers. Totally blown away.

They were completely prepared for the FLE, and the crowd showed up ready to learn. It was awesome!

C3 Church - you guys rocked! I can't wait to hear the stories of debt freedom and dreams that are achieved all because you guys put together a plan to accomplish EXACTLY what you have been put on this earth to do.

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I went to my daughter's school to eat lunch with her on Wednesday. I was hoping for pizza, but instead it was chicken strips. I thought the chicken strips were good - especially when coated with honey mustard sauce. I was VERY disappointed when I saw that the side item was canned peas. Most people had received lima beans (which I am able to stomach - a little), but the kitchen ran out of lima beans. They ended up serving the rest of us the canned peas.

Of the twenty or so kids at my daughter's cafeteria table, only one ate their peas. I managed to eat one bite. It was AWFUL!

Many people believe that preparing a budget and living by it is the equivalent of eating canned peas. They might even try it a little bit, but they will hold their nose while doing so.

Budgeting does not have to be that way. It is nothing more than telling your money what to do BEFORE the money ever shows up! When you have a written plan for your money, it has a much better chance of going exactly where you wanted it to go.

Think of it this way. Would you hold a birthday party for your child without ensuring there was enough cake for each of their friends? No way! Would you invite guests over for dinner and wait until they were there to think about what you should prepare for them? Never!

So why would one wait until all of the bills show up before even thinking about how the money should be spent?

You can get started with your own budget TODAY by visiting the TOOLS page. They are FREE! You can prepare a weekly/bi-weekly/bi-monthly budget with the

Weekly Budget Form (Excel). If you have enough saved up in the bank to pay all of your bills once a month or you are paid once each month, you can use the Monthly Budget Form (Excel) budget.

Have a blast as you make your money behave! Take it from a huge reformed spendaholic, a budget is THE WAY that Jenn and I won with our money. It is not the equivalent of canned peas.

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I am BLOWN AWAY at the fact that as of May 4, 2008, I Was Broke. Now I'm Not. cleared 1,000 books sold.

I am stunned, humbled, and honored. One of my life goals was to write a book and sell at least one copy. I thought that maybe I could talk my mom into buying a copy if that was what it took to sell one. Moms always want to see their kid's achieve their dreams.

But for some reason people have bought the book.

Here are some of the reviews written by some different folks who bought the book:

* Kem Meyer wrote a review

HERE.
* Rob Singleton gave a copy away HERE to the person who shared the funniest/dumbest financial decision they ever made. Be sure to read all of the comments below that post. It was incredible!
* Lori Capace shared her thoughts HERE.
* Paul Neel wrote a post HERE.

To everyone who has purchased a book - THANK YOU! Thank you for investing in this crusade to see people accomplish far more than they ever thought possible with their personal finances.

Why am I so passionate about this? Because when people are financially free, they are much more likely to do EXACTLY what they have been put on this earth to do - regardless of the income potential!

I am honored, and I am more FIRED UP than I have ever been!

Thank you.
Joe

Let me introduce you to the Virginia College Savings Plan.



This 529 plan is managed by one of my favorite mutual fund companies -

American Funds.

What I Like About The Virginia College Savings Plan
* CollegeAmerica. This is the partnership between the Virginia College Savings Plan and American Funds. You can read about it in detail HERE. I really like American Funds' mutual fund offerings.
* Choices. American Funds offers 22 different mutual funds as part of the CollegeAmerica plan. You can also choose to put together a selection of the

Text is 22 different mutual funds and Link is http://www.americanfunds.com/college/college-america/investment-options.htm#all

22 different mutual funds and take an age-based approach toward your investment.
* Low Initial Investment Requirement. You only need $250 to get started with the CollegeAmerica plan. That makes this available to everyone!
* State Tax Deduction for Virginia Taxpayers. If you are a Virginia resident and contribute to this fund, you are most likely eligible to deduct those contributions from your state taxes! Virginia residents are allowed to deduct up to $2,000 PER ACCOUNT per year with unlimited carryforwards. NICE!

What I Would Like To See Improved
* This is a general improvement that I would like to see with all 529 plans, not just the Virginia College Savings Plan. I would really like to see contributions to ANY state's plan be DEDUCTIBLE from one's own state taxes. I know. I know. I am dreaming again, BUT it would really provide a huge incentive for states to have a great and competitive 529 plan.

Read reviews of other state 529 college savings plans HERE.

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During each part of this weekly series, I will be looking at a specific mutual fund company.

Today's company is Fidelity Investments.



Fidelity Investments is a very large full-service investment company. They manage over three hundred mutual funds and offer a variety of services. Some of the services they provide include retirement plan management and discount brokerage services.

What I Like About Fidelity Investments
* Options. Lots of them. With over three hundred mutual fund options, I can be certain that I can always find a fund that suits my investment goals.
* Target Retirement Funds. Along with

Vanguard, Fidelity is a leading provider of target retirement funds. They call their target retirement funds "Freedom Funds". Target retirement funds are mutual funds that have a set retirement year attached to them. As the targeted retirement year approaches, the fund portfolio will be automatically shifted toward a more conservative mix. This is a really nice feature for those people who do not want to actively manage their retirement savings.
* Full-service Investment Company. I like companies that are well-rounded and can meet all of my personal investment needs.
* On-Line Capability. I have a 401(k) from a previous employer that I have left with Fidelity. I have left it with Fidelity for a variety of reasons, but one reason is that I really like their on-line capabilities. With a single click, I can see the total value of my investments, the individual return of each mutual fund, and the year-to-date performance of my overall portfolio. I like that (but only when it tells me double-digit POSITIVE growth!).

What I Would Like To See Improved At Fidelity Investments
* Lower "initial investment required". Most of Fidelity's funds require an initial investment of $2,500. This really blocks out beginning investors. This requirement is usually removed when investing in mutual funds via a company 401(k), 403(b), or other retirement plan. However, there are a lot of people who do not have access to such a company retirement plan, and it would be very helpful if Fidelity lowered the initial investment required to $250 (like American Funds).

Fidelity Investment Mutual Funds That I Own
* ZERO.

Fidelity Investment Mutual Funds That I Am Considering Purchasing
* Fidelity Magellan Fund [Ticker:

Text is FMAGX] and Link is http://money.cnn.com/quote/mutualfund/mutualfund.html?symb=FMAGX

FMAGX] It has been around since 1963, has generated a 18.09% average annual return, and has a lower expense ratio (0.54%).

What Fidelity Mutual Funds do you own?

Read about the other mutual fund companies reviewed as part of the Mutual Fund Series HERE.

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Well, this weekend the family ventured out into the wild world of tent camping at a state park in the foothills of the mountains.

It was a very cheap weekend, AND we had a blast!

Cost Breakdown
* Camp Site (2 nights): $45.10
* Food (no extra cost - we brought our regular groceries): $0.00
* Stupid Tax (left our pan at home): $14.95

Total Cost: $60.05

We had an AWESOME time. Here are the highlights.

* We put up the tent. Our tent attracts rain. It POURED both nights. BUT both days were nice and sunny.
* We saw a copperhead snake up close. That always makes me feel comfortable.
* I ate three smores in one sitting and then proceeded to cook another dozen marshmallows. INCREDIBLE!
* We saw a pileated woodpecker up close. Beautiful.
* I got to spend time with my wife and daughter without the computer, internet access, or my cell phone.
* We all got our first sunburns of the season.
* There is nothing like breakfast cooked over a campfire. Bacon sizzling. Eggs frying. 100% purple grape juice. Yum.
* Melea started the fire herself with matches. I taught her how to responsibly use matches. I hope she remembers all of the rules.
* I had to make an emergency run to a Dollar General store for a frying pan, clothesline, and clothes pins. I need to go to Dollar General more often! They really have good prices, and the store was really neat, organized nicely, and clean.
* I caught ZERO fish. First time I have been skunked all year. I don't like that.

I need to put camping on the calendar more often!

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I love seeing how others are using the Pay-Off and Savings Spectaculars to track their own financial progress!

Derek has a cool twist on how he is using his Home Pay-Off Spectacular.

He has some savings that he is willing to commit toward the mortgage balance (PINK). When the amount owed on the house equals that savings amount, he is going to send the savings to the mortgage to kill it off.



Way to go, Derek! Click

HERE to read about Derek's Home Pay-Off Spectacular.

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