I Was Broke. Now I'm Not!

In

THIS POST back in August 2007, I shared several of the mutual funds that I own. A quick glance will reveal the name "American Funds" six times in my mutual fund portfolio. Why do I own them? Because they had great track records and lower ongoing management fees than most of their peer mutual funds.


Image borrowed from www.AmericanFunds.com

However, American Funds mutual funds are front-end loaded mutual funds. A load means that there is a sales charge to purchase a share of the mutual fund. If one is just getting started out, there is a 5.25% sales charge. This means that if you have a $100 bill to invest, only $94.75 will make it to the mutual fund. Which is annoying.

BUT, I still invested in American Funds' mutual funds because they simply had great track records.

So, as I was reading CNN's Personal Finance web site, I was very interested to read an article titled "

Text is Are American Funds A Good Buy? and Link is http://money.cnn.com/2008/03/18/pf/funds/Ask_the_mole.moneymag/index.htm?postversion=2008031910

Are American Funds A Good Buy?"

Very interesting.

By the way, I don't sell mutual funds or ANY investment product. I DO sell copies of my book, I Was Broke. Now I'm Not. I truly believe that the information in this book will help you take control of your finances and achieve financial freedom. You can purchase a copy via

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Welcome to the latest series on this wildly popular website. With this series, I will be sharing how you can use some of the calculators from the "

TOOLS" page to take your financial plan to the next level.

A mortgage or real estate loan is really the only type of debt that I can tolerate (barely), so here is another FREE tool from the "TOOLS" section of the web site.

To calculate your principal and interest mortgage payment (does NOT include any escrow such as PMI, property taxes, HOA Fees, or hazard insurance), you will need to know three things.

1. Interest Rate
2. Mortgage Period
3. Mortgaged Amount

If you want to calculate the monthly principal & interest payment for a fixed-rate 5.750%, thirty-year $125,000 mortgage, pull up the "

Text is Mortgage Payment Calculator and Link is http://www.josephsangl.com/wp-content/uploads/Tools/Calculator%20Mortgage%20Payment%202007-02-21.htm

Mortgage Payment Calculator".



Suppose you want to understand what the P&I payment would be for the same mortgage, but for a 15-year term. Change the mortgage period to 180 months.



The payment goes up $309/month, but one will become debt-free FIFTEEN years sooner!

One could also use this calculator when considering refinancing.

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CNN posted

THIS ARTICLE that shows the dates that the IRS will be shipping out the Economic Stimulus Payments.

Not sure what to do with your rebate check? Consider reading the "

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Best Utilize Your Tax Refund" series at www.JosephSangl.com.

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Welcome to the latest series on this wildly popular website. With this series, I will be sharing how you can use some of the calculators from the "

TOOLS" page to take your financial plan to the next level.

I remember the first day that I put together my "

Text is Sangl Family Home Pay-Off Spectacular and Link is http://www.josephsangl.com/?cat=16

Sangl Family Home Pay-Off Spectacular". I realized just how little of my home I actually owned! When the question was asked of me, "Are you a homeowner?", I could no longer answer, "Yes." Wells Fargo was my homeowner!

With that realization, I decided to pay off my mortgage early. And, God-willing and if the creek doesn't rise, Jenn and I will pay off our house in two years and nine months. How do I know that? Because of another FREE tool on this wildly popular website!

The tool is called the "

Text is Early Pay-Off Calculator and Link is http://www.josephsangl.com/wp-content/uploads/Tools/Calculator%20Debt%20Pay-Off%20Calculator%202007-11-28.htm

Early Pay-Off Calculator".

Here is how it works. You need to know three things to use this calculator.

1. Mortgage interest rate
2. Mortgage balance
3. Amount of principal & interest payment that you will be paying (don't include the escrow!)

Let's say that one has a thirty-year mortgage with a $150,000 balance and a 6.125% fixed interest rate and a $911/month principal & interest payment.

Suppose you want to know what a monthly principal & interest payment of $1,000 will accomplish. Use the "

Text is Early Pay-Off Calculator and Link is http://www.josephsangl.com/wp-content/uploads/Tools/Calculator%20Debt%20Pay-Off%20Calculator%202007-11-28.htm

Early Pay-Off Calculator" to calculate it for you!



Just by paying $89/month extra, the thirty-year mortgage will pay off 6.3 YEARS sooner! How awesome is that?!

One item to note is to designate all extra money to be applied to "principal reduction"! Some of the sly mortgage companies will attempt to apply it to "prepaid interest". That would be a bank error in their favor! Make sure that all extra money is applied to your mortgage principal.

What if the above mortgage holder wanted to pay off their mortgage in five years? You can use the calculator to find out how much would need to be sent each month.



For the low-low price of $2,900 each month, the mortgage will leave in just FIVE years! Can you do that?

Let me ask you another question, if you were debt-free except for the house, could you do this? It is amazing what you can accomplish when you are not bound up in debt!

How early will you pay off your mortgage?

Oh, by the way, you can use this calculate to calculate the early pay-off of ANY type of loan!

In the next part of this series, I will be sharing how you can calculate your mortgage payment.

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Welcome to the latest series on this wildly popular website. With this series, I will be sharing how you can use some of the calculators from the "

TOOLS" page to take your financial plan to the next level.

In the

Text is last post and Link is http://iwasbroke.savingadvice.com/2008/03/18/tools-calculate-amount-needed-for-retire_36770/

last post, I shared how you can calculate the amount you need to save for retirement.

For many people, the number revealed by completing the retirement nest-egg calculation leads to an "Oh Crap" Moment, but it is usually easier to achieve than one would initially think.

Introducing another great tool available via the "TOOLS" link at the top of the page … the

Text is Investment Value Calculator and Link is http://www.josephsangl.com/wp-content/uploads/Tools/Calculator%20Investment%20Value%202007-02-21.htm

Investment Value Calculator.

In the previous post, I calculated that one would need $3,699,458 to receive the equivalent of $75,000 per year upon retirement in 35 years.

The immediate next question is "How much do I need to invest each month to achieve $3,699,458 in 35 years?"

Using the

Text is Investment Value Calculator and Link is http://www.josephsangl.com/wp-content/uploads/Tools/Calculator%20Investment%20Value%202007-02-21.htm

Investment Value Calculator, I can quickly calculate the number.



If one has not started investing, then $575 needs to be invested every single month with an annual return of 12% to achieve the goal.

Isn't that cool? I LOVE this stuff! For just $6,900 per year, one can ensure a secure non-Social Security-reliance retirement!

What is your number?

In the next post, I will be sharing about another tool that shows you how extra money toward your mortgage each month reduces the life of that mortgage!

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My first book, "I Was Broke. Now I'm Not.", was released on January 20th. It is available via

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AMAZON.

Welcome to the latest series on this wildly popular website. With this series, I will be sharing how you can use some of the calculators from the "TOOLS" page to take your financial plan to the next level.

One of the things that I do as part of both of the classes that I teach is to have people calculate how much they will need to retire well.

The calculation usually yields what I call an "Oh crap!" Moment with the majority of folks responding with "YIKES!" and "Oh no!".

I have people calculate this number for the following reasons:

1. Most people have never seen how much they will need to retire well.
2. When people realize how large the number is, it helps them realize how important it is to have a solid plan.
3. It hammers home the point that investing needs to start early and often.

So, how much DO you need for retirement? Well, it is really simple to calculate with the

Retirement Nest-Egg Required Calculator.

Here are couple of things to note about this retirement calculator

1. This calculation assumes that you will never touch the principal.
2. This calculation assumes that you will give your nest-egg a "cost-of-living-raise" of 4% each year.
3. This calculator adjusts the "annual amount you want" for average annual inflation of 4%.

Below is a calculation I ran for an "annual amount I want" of $75,000.



Note that the calculator shows that with 4% annual inflation, I will need $295,957 per year in 35 years to have the same purchasing power that $75,000 has today.

If I expect my retirement nest-egg to grow at an annual rate of 8%, then I will need $7,398,917 when I retire. If I expect my retirement nest-egg to grow at an annual rate of 12%, then I will only need $3,699,458.

So … What's your number?

In the next post, I will share a tool that helps you determine the amount you need to save each month to fully-fund your nest-egg.

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I love hearing the success stories of those who have had their

IHHE Moment and began the journey to debt freedom!



Would you take the time to inspire others with your success story? Click the blue "Success Stories" box on the sidebar and share your story. While you are there, check out some of the other stories that have been shared!

I (and the readers) want to hear YOUR success story and celebrate with you - no matter how large or small!

Best story shared by Wednesday receives a FREE copy of "I Was Broke. Now I'm Not." (available via

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AMAZON)!

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I will be saving a ton of money by following the advice of the

Coupon Mom!

I recommend you click on the YouTube link on the first page of Coupon Mom's web site to see how it works.

Genius!

I had a BLAST sharing my story at the three Sunday morning services at

Hyde Park Baptist Church in Lumberton, NC this past weekend! After speaking on Sunday morning, Pastors Dennis Harrell and

Text is Mike Pittman and Link is http://wholeheartedlife.typepad.com/

Mike Pittman had everything ready to roll for the

Text is Financial Learning Experience and Link is http://www.josephsangl.com/FLE%20Details.htm

Financial Learning Experience to launch on Sunday afternoon.

We had a fantastic turnout and the audience was ENTHUSIASTIC (to say the least!) about putting together a plan that enables them to go do EXACTLY what they have been put on this earth to do! That FIRES ME UP!

Thanks Hyde Park! You can read what Mike had to say about the weekend

Text is HERE and Link is http://wholeheartedlife.typepad.com/wholeheartedlife_dot_com/2008/03/sunday-nite.html

HERE and

Text is HERE and Link is http://wholeheartedlife.typepad.com/wholeheartedlife_dot_com/2008/03/really-proud-of.html

HERE.

With that, I am PUMPED to announce the next two month's upcoming events!

Text is FLE and Link is http://www.josephsangl.com/FLE%20Details.htm

FLE (2 hour class) &

Text is FFE and Link is http://www.josephsangl.com/FFE%20Details.htm

FFE (6 hour weekend conference OR 5 week class)

March 13, 2008

Text is NewSpring Church UNLEASH CONFERENCE and Link is http://www.newspringonline.com/245602.ihtml

NewSpring Church UNLEASH CONFERENCE Anderson, SC

March 14 & 15, 2008 FFE

Text is 5 Point Fellowship and Link is http://www.5pointfellowship.org/

5 Point Fellowship Easley, SC

All Tuesdays in April FFE

Text is NewSpring Church and Link is http://www.newspring.cc

NewSpring Church Anderson, SC

April 4 & 5, 2008 FFE

Text is Cornerstone Community Church and Link is http://www.mycornerstone.org/index.php?pr=Home

Cornerstone Community Church Galax, VA

April 16, 2008 FLE

Text is Oak Leaf Church and Link is http://www.oakleafchurch.com/

Oak Leaf Church Cartersville, GA

April 20, 2008 FLE

Text is Fusion Church and Link is http://www.createfusion.com/

Fusion Church Suwanee, GA

May 4, 2008 FLE

Text is Avalon Church and Link is http://www.avalonchurch.net/

Avalon Church McDonough, GA

I am FIRED UP! Lives are being changed, and I get to be a part of it! Can I just say (again) that I am so glad I was able to fire myself from Corporate America and go do this?

I would love to take the crusade to California, Texas, New York, and Wyoming. If you are interested in having me speak, contact me by clicking

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HERE.

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There was a time when I was not passionate about my job. There used to be a time where I went to work at a J.O.B every day and wondered what I was put on earth to do.

Ever been there? It is not fun to go through such times, but I have found that it was absolutely necessary for me to go through that time to be adequately prepared for "what was next".

When you have been through the passionless, listless, awful, and confusing times, you can truly understand how awesome it is to a have a clear, unmistakable, resounding call on your life.

My calling became immensely clear as I began to take real action to improve my financial condition. As Jenn and I broke free financially, it was as if cataracts fell off of my eyes. I saw how huge and real the financial burden was for the majority of my neighbors, co-workers, friends, and family. I saw how huge the problem was for all of America! I simply couldn't take it anymore. I HAD to do something. In fact, the day that I announced that I had fired myself from Corporate America I wrote

THIS POST which really captured what I was feeling at that decisive moment.

Reading that post from eighteen months ago really brings the emotion of the moment back to me.

Here is why I do what I do …
* Person 1 - Put together a written plan, became debt-free, and is going on a cash paid-for-in-advance vacation to Europe this summer!
* Couple 2 - Put together a written plan, sold the fine luxury car, and will be debt-free before the end of the year. Yes, he cried when the Jaguar left (I would too!), but it is just a car.
* Person 3 - Put together a written plan and will become debt-free in less than HALF the time calculated using the Debt Freedom Date Calculator!
* Couple 4 - Put together a written plan, and are now able to give faithfully to their local church for the first time in their lives!
* Couple 5 - Put together a written plan, built an emergency buffer fund, and are now experiencing a job lay-off - BUT they have savings to help them weather the storm! They have PEACE even in the midst of this issue.
* Person 6 - Put together a written plan because his gift to his bride on their wedding day is for BOTH of them to be 100% debt-free. On the day they are married!
* Couple 7 - Put together a written plan, they will become debt-free before their children start college AND be able to pay for their children's college - something they did not even think was possible! But it was - and is!
* Couple 8 - Did not do so well with money management the first thirty years of marriage, but now have a written plan that will allow them to retire with ZERO debt and with SOME retirement savings - way ahead of what they thought was possible.
* Person 9 - Has always had a written plan, and is flat killing it - but he is buying tons of copies of I Was Broke. Now I'm Not. for his friends and family to ensure they also learn how to win!
* Couple 10 - Put together a written plan, and it has ROCKED their marriage (in a great way!) - it is the first time they have ever talked about money - let alone have a plan they both agree on! (Why do I hear Barry White singing?)

Those are just some of the HUNDREDS of stories of life change that FIRE ME UP! They are THE REASON I do what I do.

I can't believe I get to do this for a living! I am truly living a dream!

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I have the great opportunity to help hundreds of people put together a great financial plan.

Something that has been rocking my world lately is the frequency that I hear the following statement during my meetings …

"My parents - UGH! They are terrible with their money."

Is that your story?

One thing that I have learned from my hero,

Dave Ramsey, is to listen to HOW people say things. To hear the tone in which it is said. To listen to what is being left unsaid.

What do I hear? Regret. Disappointment. Sadness. Shame. Discouragement. Frustration. Anger.

Here is what I can say for certain. HOW you manage your money WILL impact your children!

Proverbs 22:6 comes to mind - "train a child in the way he should go …"

So does Proverbs 13:22 - "A good man leaves an inheritance for his children's children …"

Are you ashamed of your parent's financial management? Resolve to break the cycle with your family.

Are you ashamed of your own financial management? It's time to have your IHHE Moment and change the story!

You CAN do this! I believe in you.

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I am excited to introduce Couple #3 - the newest members of the "Marching To Debt Freedom" crusade.

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 transferred our Bank of America card balance to another card at a much lower interest rate. We also got the interest rate reduced on one of the Discover cards. We "spent" our tax refund before we actually received it, and it went much further! Half of it funded our emergency fund which is now over $2,900!

What were the challenges/struggles this month …
Not really any this month … except we want it all paid off!

Updated Debt Freedom Date …


Sangl Says …
I am excited about the progress of Couple #3! One debt is already paid off, and more are getting ready to fall! It is AMAZING how fast debt can leave when you have your IHHE Moment!

I challenge everyone to seek lower interest rates on any debt you are carrying. Many times you can obtain a lower interest rate just by calling your credit card. Or you can avoid the conflict altogether by rolling the balance over to a "0% for 12 months" card.

Readers …
Will you take a moment to leave a comment for Couple #3 and thank them for sharing their personal financial information with everyone? It takes a lot of courage to do this, and I am PUMPED to watch this debt fly away!

Read the Debt Freedom March updates for

Couple #1 and

Text is Couple #2 and Link is http://www.josephsangl.com/?cat=20

Couple #2

Want to start your own Debt Freedom March? Check out the free tools

Text is HERE and Link is http://www.josephsangl.com/?page_id=151

HERE. My book also teaches you how to use all of the free tools. You can purchase your copy at

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Introduction
This couple is THROUGH with debt! It has now been five months since they announced that they were breaking up with debt.

Here is this month's update!

What went well this month …
Things are going great, and we are sticking to the plan.

Challenges and struggles this month …
I really don't have anything different to say as far as the challenges and struggles for this month.

Here is their updated

Debt Freedom Date calculation …


Month By Month Progress …


What are the biggest changes you have seen as a result of the first six months of this march …
The biggest changes we have seen as a result of the first six months of this debt freedom march is that we don't take our money for granted anymore. Before we met Joe we spent our money very foolishly and unconsciously. As a result, we are still paying for our past purchases today (aka: DEBT!). We appreciate our money now and make it a point to think about each purchase we make. I have to say, the march to debt freedom is one of the best things we have ever done. We have not accumulated any new debt and we are well on our way to paying off what we owe.

I am very proud of my husband and myself and extremely thankful for Joe and his brilliant plan. We really started this year off right. As of right now we have a plan for just about everything; Christmas, vacation, vehicle maintenance, taking care of the yard for Spring & Summer, car insurance, car taxes, pet care, birthdays, holidays, etc. Knowing we have the money set aside to take care of the "known upcoming expenses" takes a lot of stress off of us each month. There are no surprises!!

Overall, it feels great knowing we have a plan. This makes us feel in control of our money and our future. If there is anyone questioning whether or not to give Joe a call, please do not hesitate. If I had one regret it would be that we did not meet with Joe and start our journey to debt freedom sooner!!!!!

My husband and I want to say Thank You to Joe for all of his encouragement and support. He has been a wonderful blessing to us and our future. God Bless You, Joe!!

Sangl says …
[BLUSH] I am humbled by the kind words that Couple #2 has shared. All I did was show Couple #2 the tools that I used to become financially free. They have taken it to heart, and I can not wait until I receive an invitation to their debt freedom party. My prediction is that this couple will be debt-free (except for the house) in 24 months or less. I know. I know. The Debt Freedom Date Calculation says 36.3 months, but I have seen way to many people who have had their IHHE Moment. They become debt-free way sooner than the calculation.

Way to go Couple #2!

Readers …
Everything I taught Couple #1 and Couple #2 and thousands of others is in my newly released book, I Was Broke. Now I'm Not. It can be purchased via

Text is PayPal and Link is http://www.josephsangl.com/IWBNIN%20Book.htm

PayPal or

Text is Amazon. and Link is http://www.amazon.com/dp/1605301906?tag=wwwjosephsang-20&camp=0&creative=0&linkCode=as1&creativeASIN=1605301906&adid=0204PMQZ57FG83VXGHMA&

Amazon. It is NOT rocket science. I wrote this book in such a way that it can be read in less than 1.5 hours and can be immediately applied to your financial situation.

Would you share with Couple #2 how their sharing of their personal financial situation is inspiring you?

Text is Read Previous Updates For Couple #2 and Link is http://www.josephsangl.com//?cat=20

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Introduction
Couple #1 is THROUGH with debt! They have been married for many years and have two children. They are now SIX months into their march. Here is this month's update.

What went well this month …
WOW! This is like when you can fit into your skinny jeans again. God blessed us and sent us a bonus check and instead of blowing it, I put it to good use. I paid off my car, and paid $3,000.00 on the other car. I am stoked! In about three months, I will be shed of all debt except the big stuff. We are also getting a tax refund, and I am hurling that at debt too. I feel like David reaching for the stones, baby!

What were the challenges/struggles this month …
The only struggle is feeling guilty because we did not do this early on. I would be a freaking gazillionare by now. God rocks. Joe rocks. Not being broke rocks. Yee Ha!

What are the biggest changes you have seen as a result of the first six months of this march …
This has made us focus like a laser beam on our finances - both good and bad. It has let us have a glimpse of what life will be like with no debt, and I like it. I can only wish that anyone who reads this takes it to heart. Don't let credit cards ruin your happiness. I will always remember my

IHHE Moment!

Updated Debt Freedom Date …


Month By Month Progress …


Sangl Says …
ANOTHER DEBT IS GONE! Couple #1 has definitely had enough. Look at the progress they have made in just six months! Their initial Debt Freedom Date calculation was 42.9 months. They are now down to 35.1 months AND they have avoided all new debt. They had to slow down during Christmas so that they could avoid debt that month, but it allowed them to stay on the path toward financial freedom. In just six months, Couple #1 has made FOUR different debts leave their life!

Way to go, Couple #1! I am FIRED UP by the progress you guys are making!

Readers …
How are you doing on YOUR debt freedom march? You can do this!

Read Previous Monthly Updates For Couple #1

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Every month there will be an update of Joe & Jenn's Home Pay-Off Spectacular! The fifth monthly update is TODAY!

Here's this month's update!

Total Squares: 2,426

Paid-For Squares: WAS 727 IS 731

Squares Remaining: WAS 1699 IS 1695

% of House Owned By The Sangl's: WAS 30.0% IS 30.1%

% of House Owned By Wells Fargo: WAS 70.0% IS 69.9%

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



Yes. We slowed down this month. We have some known, upcoming expenses approaching, and we are slowing down for a short period of time. One of the most essential things that I have learned about money is that there WILL be known, upcoming expenses and they WILL come due. Jenn and I are ensuring that we are more than prepared for these expenses.

By the way, we are STILL committed to paying the mortgage off by October 2011 with the same stretch goal of October 2010!

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Get your own Debt Pay-Off Spectacular

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Already debt-free? Get your own SAVINGS Spectaculars

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I had a blast carrying the crusade over to

Gateway Community Church in Goldsboro, NC this weekend!

Pastor

Text is Thayer Stamper and Link is http://www.virb.com/thayer/blog

Thayer Stamper, David Morrow, and the entire team at Gateway made the

Text is Financial Freedom Experience and Link is http://www.josephsangl.com/FFE%20Details.htm

Financial Freedom Experience a first-class event!

It took less than one hour to be completely set up for the event and at 6:30PM Friday evening, the FFE launched. It was awesome!

Here is what I LOVE about teaching this material - lives are changed every single time! There were tears and laughter as we progressed through the FFE, but more than anything else HOPE was restored, marriages were encouraged, and dreams were brought front and center.

Every time that I teach, I start and end with stating my passion …

To help others accomplish far more than they ever thought possible with their personal finances. Why? Because when people are financially free they are much more likely to go do EXACTLY what they have been put on this earth to do - Regardless of the income potential!

Gateway CC - Thanks for allowing me the opportunity to do do EXACTLY what I have been made to do!

This coming weekend, the crusade will continue on to Lumberton, NC where I will be speaking during the Sunday morning services at

Text is Hyde Park Baptist Church and Link is http://www.lovinglumberton.com/templates/cushydepark/default.asp?id=21533

Hyde Park Baptist Church and then teaching the

Text is Financial Learning Experience and Link is http://www.josephsangl.com/FLE%20Details.htm

Financial Learning Experience in the afternoon. I can't wait!

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A random list of great questions to ask about money …

* Can you offer this to me at a lower price?
* I'm looking for a deal. Can you also include "X" if I purchase this item today.
* If I keep managing money they way I currently manage money, will I be able to accomplish my future hopes/plans/dreams?
* Who can I bless today?
* If my wife or child had to have emergency surgery today, would I be able to absorb the financial impact?
* If I died today, would those who depend on your income be protected?
* Do I really NEED this?
* Do I work for a paycheck or am I doing what I love to do?
* Do you add huge value to your business? Why not objectively ask for a raise. Look, you delivered "X" results that benefited the company. Why not improve the income?
* What could I do with all of this money that I send toward debt payments each month?
* What does life look like without ANY payments. No house payment. No student loan payment. No car payment. No credit card payments. NO PAYMENTS!

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Just 301 days from now, we will be celebrating Christmas again.

How much are you going to spend on Christmas this year?

Will you pay cash for Christmas 2008, or will you finance it?

I highly recommend planning Christmas 2008 on paper! The

Mini-Budget Form (Excel) is a great tool to use to plan your Christmas spending.

Here's an example of how to use the Mini-Budget for planning Christmas. I have entered the amount that we plan to spend on each item for Christmas. This helps me understand the amount needed for Christmas.



You can see that "Cash - Expenses" shows a RED $1,080. To make it GREEN, I enter $1,080 in the "Cash Budgeted" line.





I know that I have experienced sticker-shock when I have put together my initial mini-budget for Christmas! The great thing about planning ahead is that I still have the opportunity to change how much I will spend!

So, go ahead and plan for Christmas 2008. Yes, you will be weird. Yes, no one else in your family is doing it. BUT, you will have a plan and be able to pay CASH for this year's Christmas! How many of your friends and family will be able to say that?

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I recently discovered a new web site that is helping me save money.

It is called

www.RetailMeNot.com.

This web site has discount codes and promo numbers that allow you to save money at thousands of different e-tailers.

Home Depot, Wal-Mart, Victoria's Secret, Barnes & Noble … There are over 10,000 companies represented.

One thing I really like about this web site is it allows the users to rate the promo codes. If it did not work for you, you can communicate that to the next user so that they don't waste their time with it.

Try it out, and see if you can save some money!

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I HAVE HAD ENOUGH!

I had an

IHHE Moment recently.



My family traveled up to Burlington, NC to teach the Financial Learning Experience. We arrived on Saturday evening and went out to get dinner.

My lovely bride spotted a restaurant that does not exist near our home, so we went there.

It did not go well. It was 8:00 PM, but we had to wait twenty minutes to be seated.

I took one look at the menu, and began to employ my hero, Paul Marshall's method of choosing what to eat. I looked for the cheapest item on the menu and decided it was palatable.

This place sells hamburgers. HAMBURGERS. But not just any hamburger. They sell $10 hamburgers. What a RIP-OFF!

And then I see that the kid's menu has mac-n-cheese for only $4.99.

ONLY $4.99. I can buy AT LEAST twenty BOXES of mac-n-cheese for that amount of money.

I suffered through the experience. And, NO, I did not let my daughter order the ridiculous, outrageous, enormous, cruddy, massively overpriced mac-n-cheese. She had to share my $10 burger.

What a rip-off.

I am really sick of being ripped off by the so-called kid's menus at restaurants.

Who's with me?

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I have been PUMPED by the number of copies of

I Was Broke. Now I'm Not. that have been sold!

Over 460 books have been shipped out in just 27 days! AWESOME!

So I have named my book an official "Sangl Times Bestseller".



Oh, and some book reviews and thoughts about

Text is I Was Broke. Now I'm Not. and Link is http://www.josephsangl.com/IWBNIN%20Book.htm

I Was Broke. Now I'm Not. have been surfacing around the web.

* Rob Singleton gives his thoughts about the book and gave a copy of it away

Text is HERE and Link is http://www.robsingleton.net/2008/01/27/dont-say-i-never-give-you-anything/

HERE.
* Paul Neel provides his review

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* Tally Wilgis provides a review

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By the way, you can also purchase I Was Broke. Now I'm Not. on

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This is the latest series - "Are you STUCK?"



If you feel stuck financially, this can help you!

In part one, I asked WHY are you stuck?

Part two is Plan what you have!

Part three is Remember the priorities!

Part Four: Fill the "Go Get This" Gap

I am sure that some read this as "Go work like crazy and earn more money". I would certainly not disagree with working more and earning more! It is a GREAT way to fill in the "Go Get This!" Gap.

But there are many more ways to fill in The Gap! Here are quite a few.

* Pray. I am a Christ-follower, and I have seen the power of prayer.

* If married, ensure that your spouse is on board. There is POWER when you work TOGETHER on your finances! How do you get a spouse on board could be a year-long series, but it is so necessary. Jenn and I work together because we wrote down all of our earning and spending. When we saw that our OUTGO exceeded our INCOME, we knew that it was a serious issue! One strategy to try is to mail the kids off to Grandma & Grandpa's (eliminate distractions) and tell your spouse that you want to talk to them about something that you really need them to hear. Something that is really important to you. Very important to you. And then show them your family's finances planned out on paper. When it is written on paper, it tends to reduce the emotion toward each other and has the opportunity to become a unified effort!

* Govern your business. If your business is struggling, it might be worth putting some "mileposts" in place. Mileposts are points one month, three months, six months, and twelve months away. An example of a milepost is "If we are at $5,000 sales in three months, we will keep the business. If it is at $3,000, we will keep it open for three more months. If it is less than $3,000, we are going to have to shutter the business." The hardest thing in the world for an entrepreneur is to close their business. Tough, but necessary sometimes.

* Sell something. Maybe your house payment is eating you alive. Sell the house. Sell the motorcycle. Sell the boat. Sell the truck. Sell the swing set. Sell the four-wheeler. Sell the LCD 50" TV.

* Reduce OUTGO. Many times you can substantially lower your credit card payment just by calling them! I lowered my cable/internet bill by 75% just for calling! Get rid of the home telephone - you never use it anyway. Use cash envelopes for the categories you tend to spend impulsively (groceries, restaurants, shopping, entertainment, spending money). Call and get a new quote on your homeowner's/auto insurance.

* Chop up the credit cards. If they are a crutch that keeps trapping you, it is time to chop them up. December 2002 was the month I chopped mine!

* Make it a family effort! There is NOTHING like a unified family. Nothing.

* Pay secured debt before unsecured debt. If you can't pay everybody, consider paying just the secured debts. Call the unsecured companies and tell them that you will not be able to pay them this month, but that you fully intend to pay them. Tell the truth! There is power when you call someone and ask for help! They may or may not work with you, but when you are in bad shape financially you can't pay them if you want to!

Readers: What are some other ways to fill in the "Go Get This!" Gap?

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This is the latest series - "Are you STUCK?"



If you feel stuck financially, this can help you!

In part one, I asked WHY are you stuck?

Part two is Plan what you have!

Part Three: Remember the priorities!

When you have an extremely limited amount of funds, it is important to remember the priorities. I have met a lot of people who have been tricked, guilted, and shamed by credit card companies into paying the credit card bill instead of the house payment.

You have completed step two and planned what you do have, so now the next step is figuring out who gets paid and who does not.

My priorities are:
* Essentials: House payment (or rent), basic utilities, car payment, gasoline, and food. Does NOT include cable, internet, phone, restaurants, fashion clothes, etc.

* Secured Debt: If money remains after covering the essentials, then it is time to pay for the secured debts. If secured debts are not paid, the creditor has the right to come take the item. They will usually sell it at wholesale and come after the rest from guess who? So I would pay the secured debt next.

* Unsecured Debt: They cannot immediately come take something so they can be paid later if the money runs out.

* Fun: This is last on the list.
Besides I can have fun for free. Pickup basketball games, watching old movies, etc.

Who is the manager of YOUR money? It should be YOU! Not your creditors! YOU choose where it goes.

Even if you don't have enough money to pay all of the bills, go ahead and put all of the bills into your spending plan. This is a KEY step! You need to clearly understand how large the gap is between your INCOME and your OUTGO.

I call this gap the "GO GET THIS" gap. That is the next part of the series!

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Welcome to the newest series - "Are you STUCK?"



So … are you? Do you wonder where to begin? This series is for you.

In part one, I asked WHY are you stuck?

Part Two: Plan what you have!

Now that you have written down the reasons that you are stuck, it is time to prepare a written spending plan.

Yes, a budget. Here is something I have learned - managed money goes farther than unmanaged money.

I know that what you have is limited. In some cases, VERY limited. BUT, it is imperative that you plan what you do have.

You can obtain FREE helpful budget forms by clicking the right one for you below.

Monthly Budget Form (Excel) If you are paid once per month, this is the budget tool for you.

Text is Weekly Budget Form (Excel) and Link is http://www.josephsangl.com/wp-content/plugins/wp-downloadMonitor/download.php?id=2

Weekly Budget Form (Excel) If you are paid multiple times per month (twice/month, bi-weekly, bi-monthly, weekly, etc.), this is the budget tool for you.

If you want to learn how to put together a great budget, you might want to read the

Text is "How Do I Budget?" and Link is http://www.josephsangl.com/?p=469

"How Do I Budget?" series.

Next we will discuss how to choose who gets paid and who does not!

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Welcome to the latest series - "Are you STUCK?"



Have you ever been stuck financially? I mean STUCK. Do you feel so stuck that you can't even gain any traction to get control of your finances?

Perhaps you have no income because you have lost your job. Maybe you are in college and accumulating debt to pay for it. Perhaps your spouse spends money faster than you make it. Or maybe you are just lost when it comes to managing money. It might even be the fact that you have so much unsecured debt that you feel that the creditors should just change the amount owed to a cool $1,000,000 because it might as well be that much! Maybe you are disabled, and can't figure out what to do to earn more money.

If this is you, this is a series for you!

In this series, I will be sharing steps you can take to become unSTUCK.

I am FIRED UP about this series.

Part One: WHY are you stuck?

It is important to understand why you are stuck. There are some situations that have definite ends to them (college) and other situations that have indefinite ends to them (job loss, disability, and overwhelming debt).

Why are you stuck?

Write it down on paper. Right now. Write "I am stuck financially because … ".

When I encounter situations where I don't know what to do, I start writing. Writing enables me to put all of my thoughts on paper.

After writing all of my jumbled thoughts down, I set it aside for awhile. After a day or two, I revisit what I have written and identify the repetitive thoughts. This helps me identify the core issue.

Readers: Would you comment on why you are stuck or what caused you to be stuck in the past?

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I am FIRED UP to announce that you can now purchase my book via AMAZON.COM! Click

HERE to view I Was Broke. Now I'm Not. on AMAZON.COM.



You can also purchase my book via PayPal by clicking

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Want to read the Introduction? Click

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Volume discounts are available if you are purchasing 10 or more. Contact Joe

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HERE for more information.

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Read Recent Posts

Have you read the weekly newspaper article that I have been writing for the Anderson Independent-Mail?



It is published each Sunday on the front page of the Business section.

You can read them all by clicking

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This is yet another opportunity to help people take their finances to another level, and I love it!

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I was running on the treadmill at the YMCA (I'm training for another marathon) the other day, and ESPN was talking about baseball.

They ran the clip of Hank Aaron's 715th home run, and while watching it I saw something I had not seen before.

There, dead-center in the middle of the shot showing the home run ball leaving the park is a huge credit card billboard.

This was April 8, 1974. I remember the home run very well since I was nine days old at the time.



It was 1974 and credit cards were just taking off.

Look closely at the billboard. What does the the "Bank Americard" (now known as VISA) purport itself to be? MONEY

"Think of it as money."

Genius branding. Too many people have viewed credit cards as money, and now realize that it is really BORROWED MONEY.

By the way, you can watch Hank's home run

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My first credit card was an Advanta VISA card with a really low limit.

How did I get it? I signed up for a free t-shirt during my first few weeks as a freshman on the campus at Purdue University.

What did I do with it when I received it? I went and charged it up!

It was so easy! Yet, it began a ten year mess of debt. I was a huge loser with credit cards. Maybe you have done better. Maybe not.

So my question today is:

What was YOUR first credit card?

AND

Did it help you or hurt you?

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Introduction
This couple is THROUGH with debt! It has now been five months since they announced that they were breaking up with debt.

Here is this month's update!

What went well this month …
This is month five, and as you can see (from our Debt Freedom Date calculation) we are on the way to debt freedom. Joe's system gets much easier with time! We've really changed our financial lifestyle.

Challenges and struggles this month …
This month was fairly easy. We'd like to pay more than $325 on the Discover, but some other things came up and we had to plan for them. However, we didn't accumulate any new debt! We'll use our tax refund to pay off the Discover balance, and begin working to pay vehicle #1 off about ten months early!

Here is their updated [b]

Debt Freedom Date calculation …[/b]


Month By Month Progress …


Anything else you want to share?
We get paid on the 15th and 30th every month. A few months ago I couldn’t wait for those checks to come in because we were dependent on them.

About three months in to this, the “pay days” became regular days.

Any challenges you want to issue to others who are reading the web site?

My wife basically dragged me to our first meeting with Joe. Our finances weren’t horrendous, but weren’t great either. We had a few thousand dollars in savings, but were living pay check to pay check with some debt. I was embarrassed for an outsider to look into our personal business. My first question to Joe was, “What qualifies you to tell me how to handle my money?” Joe briefly told his story and I began to listen and realized I wasn’t going to be judged on my past financial decisions. This put me at ease.

We’ve been doing this for 4-5 months now, and it has changed our lives. I still buy what I want, eat what I want and go where I want, it’s just budgeted. We are paying off debt quickly, and working towards financial freedom.

My point … I know someone out there is skeptical or embarrassed about their situation, its okay. Call Joe!

Sangl says …
I am so fired up by Couple #2's progress! I am ready to CRY!

Couple #2 is ON FIRE! They have been on this journey for just FIVE months, and they have already paid off $11,693! They are experiencing a time of blessing, and they are taking full advantage of this time to knock out their debt! While they did not totally eliminate a debt this month, they did reduce their debt by $1,720. Simply amazing.

Readers - What you are seeing unfold before you with Couples #1 and #2 is what I am seeing literally HUNDREDS of people do! There are HUNDREDS of people who have taken control of their finances, developed a written spending plan, and are absolutely changing their entire financial future!

Couple #2 - You guys are inspiring others to take their finances to the next level! Thank you so much for sharing!

Readers …
Have you had enough? Have you had your "I Have Had Enough" Moment? It's time to put together a plan that helps you win with your finances. You can start by putting together a written plan using one of the budget forms available on the "

Text is TOOLS and Link is http://www.josephsangl.com/?page_id=151

TOOLS" page.

Want to read my story and learn how to take your finances to a new level? Purchase a copy of

Text is I Was Broke. Now I'm Not. and Link is http://www.josephsangl.com/IWBNIN%20Book.htm

I Was Broke. Now I'm Not. I can promise you that it is written at a level you can understand and immediately apply to your finances!

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