I Was Broke. Now I'm Not!

I just read

THIS ARTICLE on CNNMoney.com. This is EXACTLY why I am on this crusade to help people win with their money.

Read the article, and try not to get too frustrated.

Here are some items that stand out to me (and of course, solutions to them)

1. "I look at how much money we spend and I think, 'Where is it going?'" says Kerri … It is really simple to answer that question! All you have to do is recognize that INCOME - OUTGO = EXACTLY ZERO. By visiting the

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

TOOLS page, you can put together a written spending plan that ensures that you do not overspend.
2. The HELOC (Home Equity Line of Credit) … now often serves as a safety net when they come up short at the end of the month. The balance is almost $50,000. Borrowing to make up the gaps month-after-month is a clear indication of a lack of planning. I wonder when they will have their IHHE Moment?
3. The couple has almost no savings. And that means no emergency fund and not a dime set aside for the children's college. This couple has THREE children ages 4, 9, and 12. It should not be a surprise when the 12 year old goes to college in SIX years! This fact also reveals why the HELOC keeps going up - there is no buffer of cash to protect this family when life happens. I would recommend that they set up a beginner emergency fund of at least $2,500 and start saving for

Text is KNOWN, UPCOMING EXPENSES and Link is http://www.josephsangl.com/?p=425

KNOWN, UPCOMING EXPENSES that are crushing their monthly spending right now and causing them to run to debt.
4. "One day, I hope Mike will do his Quicken work and say, 'Oh my God, we didn't go over this month,'" says Kerri. "When that happens, he'll be doing backflips." This confirms the lack of a plan. Guess what? Without a plan, this couple will NEVER spend less than they make! It is time to make a change!!! It is also sounds like Mike & Kerri are not working together as a couple to manage their money. There is a good chance that this couple will not be on the same financial page, and that makes it very difficult to win with money. I recommend that they sit down TOGETHER and put together a spending plan BEFORE the month begins!

I would love to help Mike & Kerri put together a plan that works! Mike & Kerri, contact me and I will gladly set up a financial counseling appointment that helps you guys WIN BIG TIME with your money!

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Welcome to the latest series -

Setting 2008 Financial Goals!

Setting goals is a HUGE part of achieving your lifelong hopes and dreams.

Here are the steps shared previously.

Text is Step 1: WRITE DOWN YOUR GOALS and Link is http://iwasbroke.savingadvice.com/2007/12/19/setting-2008-financial-goals-part-1_32990/

Step 1: WRITE DOWN YOUR GOALS

It is SO EASY to get caught up in the mumbo-jumbo everyday stuff and relax on achieving goals. By writing down your goals, it will help ensure that you do not forget what is most important to you!

Text is Step 2: PUT A COMPLETION DATE NEXT TO EACH GOAL and Link is http://www.josephsangl.com/?p=529

Step 2: PUT A COMPLETION DATE NEXT TO EACH GOAL

There is nothing like setting a deadline to help motivate you to complete each goal!

Step 3: ESTABLISH ACCOUNTABILITY

You are doing great! You have written down your goals and established a target completion date for each one. Now comes the really hard part … accomplishing the goals!

I have found that there is nothing so effective as personal accountability to ensure that a goal is accomplished. Who is in your life that you really trust and wants to see you achieve your goals? If you are married, your spouse should certainly hold you accountable! If you are not married, who could you ask to hold you accountable? Married or not, it is very effective to ask those you love and trust the most to hold you accountable.

I have a friend, Mike, who holds me accountable to a financial goal. About once a quarter, he contacts me to see how I am progressing toward the goal. I would hate it if he called and I have made no progress! It helps me stay focused!

You may have different people hold you accountable for different goals. I have a person who holds me accountable for my stock investment goals. I have another person who holds me accountable for my real estate goals. Yet another holds me accountable for the

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

Sangl Family Home Pay-Off Spectacular!

Why don't you take some time right now to determine WHO will hold you accountable for each of your written goals?

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Welcome to the latest series -

Setting 2008 Financial Goals!

Yesterday, I shared step one.

Text is Step 1: WRITE DOWN YOUR GOALS and Link is http://iwasbroke.savingadvice.com/2007/12/19/setting-2008-financial-goals-part-1_32990/

Step 1: WRITE DOWN YOUR GOALS

Written plans allow you to FOCUS on your goals. Did you take the time yesterday to draft your 2008 Financial Goals? I know I did! Next year is going to be quite a year for me! My book, "I Was Broke. Now I'm Not!", will be released in late January. I can't wait!

After you have written down your goals, it is time for step two.

Step 2: PUT A COMPLETION DATE NEXT TO EACH GOAL

"Fail to plan. Plan to fail." A plan is not complete without assigning a completion date next to it. This date will help hold you accountable to yourself!

Here are some questions to ask yourself as you look over the goals you have written down and assign expected completion dates.

* If you are married, are you and your spouse on the same page with these financial goals? If you are not on the same page, this will be VERY difficult!
* Do any goals rely on another to be completed first? (For example, if you are paying off two credit cards - does one need to be paid off before the other?)
* Are the goals mildly realistic? Ridiculous goals tend to de-motivate and demoralize. Make sure the goal has a good fighting chance of being accomplished! On the other end of the scale, don't be too easy. Be sure to stretch yourself some!
* Are any goals higher in priority than others? If so, be sure that they are identified as such!

There have been times that I have placed my goals in a drawer. This is NOT good! Here are some tips for ensuring your goals are kept in front of you through the year.

* Place a "Task" in your e-mail task list or Blackberry that will give you an alarm on the date that the goal is expected to be completed.
* Place another "Task" in your automated list that will ask the question - "Review your 2008 Financial Goals" This is REALLY EFFECTIVE if you actually include your 2008 Financial Goals in the "Task". That way, the excuse of "I don't have my goal list with me" is totally removed!
* Place the goal list in front of you at work or on the refrigerator. Place it somewhere that is very visual and will be seen often!
* Tell others about your goals! That is great accountability!
* Start a blog and share your goals with the world! People like Jonathan at

Text is My Money Blog and Link is http://www.mymoneyblog.com/

My Money Blog and the lazy man at

Text is Lazy Man and Money and Link is http://www.lazymanandmoney.com/

Lazy Man and Money are sharing their personal financial picture with the world! It makes me wildly uncomfortable to see their net worth, but I can't stop reading their blog!

Time for me to go assign dates to my 2008 Financial Goals!

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Welcome to the latest series - Setting 2008 Financial Goals!

Step 1: WRITE DOWN YOUR GOALS

I once read this Chinese Proverb - "The faintest ink is sharper and longer lasting that the brightest mind." That is so true! When I write down something, I am much more likely to recall it!

Here are some items/questions that can help stimulate your goal writing.

*

Dave Ramsey's 7 Baby Steps: His step-by-step method for winning with money was how I personally became debt-free.
* If you use Microsoft Money or Quicken, print out an Income & Spending Report for the past year. What needs changed? What should be continued? What should be done even more?
* Is there something in your finances that is REALLY bothering you? Many people have one thing that really bothers them. What is necessary to make it stop bothering you?

Write down your financial goals for 2008. Why not do it right now? In ten minutes or less, you can have your goals written down on paper!

Time for me to stop writing - I'm going to write down my 2008 financial goals!

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As part of my effort to eliminate my home mortgage, I have been reducing my monthly expenses.

One of the items I reduced was my cable/internet bill. I saved a TON of money - $94 PER MONTH!!!



BUT, with the reduction of my expenses, my beloved ESPN channel has now turned into a bunch of static!

Who knew that when you reduced your spending on cable that they would actually reduce the amount of channels you receive!

I am going through complete withdrawal. I also had to turn in my digital receiver box and remote control. That beautiful remote control worked so nicely. My old crappy remote control has been recalled to full-time duty.

Nonetheless, in two years and eleven months Jenn and I will be hosting a mortgage burning party at our house!

ESPN vs. ZERO DEBT

It's the biggest match-up this season in the Sangl household!

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Last weekend, my lovely bride was Christmas shopping on-line. On Monday, I went to my bank's on-line site to make an on-line bill payment (I LOVE on-line bill payments!)

Here are some of the charges that I saw …


Now, I knew that she had been shopping on-line, but I didn't know that it was for a new spouse!!! Some of the fraudulent charges were from Match.com and Yahoo! Personals!

I called my bank, and they were fantastic! The person who used the card apparently used it as a credit card - they did not know my pin code. They immediately put a hold on the VISA check card and sent a new one to me. They have already reversed the charges and credited them back to my account.

So, I am now officially a fraud victim.

It makes me wonder how many readers have been a victim or know someone who has been a victim of this type of theft!

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I have seen

this SNL skit dozens of times, but I still laugh every time!

I also have had some laughs watching

Text is Rev. Billy and the Church of Stop Shopping and Link is http://www.youtube.com/watch?v=4wxjl2ERhnI

Rev. Billy and the Church of Stop Shopping. He is proclaiming to the world that a Shopocalypse is upon us! He actually has a BLOGALLUJAH! that is hilarious!

On a serious note …

* Have you listened to the "I Was Broke. Now I'm Not!" podcast? The latest edition of this weekly podcast was released today! If you have iTunes, you can subscribe to the podcast

Text is HERE and Link is http://phobos.apple.com/WebObjects/MZStore.woa/wa/viewPodcast?id=263126368

HERE. If you don't have iTunes, you can download the podcast

Text is HERE and Link is http://www.josephsangl.com/wp-content/uploads/Blog%202007-11-19%20Podcast%20Bottom.jpg

HERE.
* If you are looking for personal finance books that I have read and recommend, you can find them

Text is HERE and Link is http://astore.amazon.com/wwwjosephsang-20

HERE.
* There are only 12 days left until Christmas! (I still have not bought one single gift. This is NOT good!)
* Invest $100/month for 40 years with 12% annual growth, and you will have $1,176,477! That CRAZY math never fails to BLOW MY MIND! You can run different investment calculations by visiting the

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

TOOLS page and selecting the "Investment Value Calculator".

Have you visited the SUCCESS STORIES link on the left side of the page? The stories of saving and found money are AWESOME! Why not leave your own success story while you are there?

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So many people have problems with the use of their credit cards. I used to be in that number! I ran up my credit cards three different times. I am officially a THREE TIME LOSER with credit cards.

Here are some ideas that could help you stop the use of credit cards:

* Boil them
* Shoot them
* Can them
* Chop them
* Slice them
* Shred them
* Cancel them
* Glue them to the bottom of your shoe
* Attach to firecrackers (at least $1,000) and light the fuse
* Burn them
* Prepare a budget every month BEFORE the month begins and apply the magic formula of INCOME - OUTGO = EXACTLY ZERO!
* Freeze them into a block of ice
* Set them underneath the space shuttle and have them fire up those engines!
* Pour them into a concrete retaining wall

If you are like me (a three time credit card loser), welcome to my club! Do whatever it takes to prevent the use of credit cards.

I personally chopped mine up with scissors and started preparing a written spending plan every single month.

That was December 2002. In February 2004, I became debt-free except for my house. In November, 2010 the house payment will be gone too!

If you needed to get rid of your credit cards to win with money, how did YOU stop?

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www.JoeSangl.com is PROUD to announce that a Llama Pay-Off Spectacular is now available!



Just click

HERE to obtain your very own copy!

Oh, I also added several other Savings and Pay Off Spectaculars including …

* LASIK eye surgery
* John Deere equipment
* House Down Payment (Saving only)
* Musical Instruments
* Overdraft/NSF (Pay Off only)
* Roof Replacement
* Braces

More to come soon!

I always welcome new "Spectacular" ideas!

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It was AWESOME to take the crusade to

Peachtree Community Church in Villa Rica, Georgia!

The people who attended were FIRED UP to become debt-free and go do EXACTLY what they have been put on this earth to do!

For those who attended last night - THANK YOU!

Thank you for allowing me to accomplish what God has put me on earth to do - "help others accomplish far more than they ever thought possible with their personal finances"!

Here are some of the links that I mentioned yesterday:

Text is On-Line Savings Account and Link is http://www.tkqlhce.com/click-2718006-10420585

On-Line Savings Account - currently 4.2% interest - FDIC insured up to $100,000 (remember the maximum you can deposit is $2,000,000 Smile - but you can start with only $1!)

Text is www.SavingFreak.com and Link is http://www.savingfreak.com/

www.SavingFreak.com is a web site that shares a ton of moneysaving tips for frugal living.

Text is www.mymoneyblog.com and Link is http://www.mymoneyblog.com/

www.mymoneyblog.com is a web site where you can find some 0% interest credit cards that you can surf your credit card balances to!

If you have IRREGULAR/SEASONAL/CYCLICAL income, you should read this

Text is series of posts and Link is http://www.josephsangl.com/?cat=13

series of posts.

All of the tools demonstrated are FREE! Just click

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

HERE.

When you have a success story, be sure to share it by clicking the "Success Stories" link on the left!

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Last Saturday, I had the opportunity to train people on the process I use to provide financial counseling at NewSpring Church.

I LOVE getting to do this!

Whenever I take the

Financial Learning Experience on the road, I always offer to train people on the financial counseling process I use.

Why? Because I KNOW that there are people who need some help in developing a plan to win with their money, and I KNOW that there are people who have a heart for teaching people about money!

I was able to train three people who have a heart for helping people. That FIRES ME UP!

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Have you ever started attacking a debt with more than the minimum payment and thought, "I wonder how much sooner this debt will pay off if I keep making this payment?"

Today, I proudly announce the newest tool in the vast array of helpful personal finance tools on www.JoeSangl.com!

Introducing …

The Early Pay-Off Calculator

You can click the above link directly or visit the "TOOLS" page to see this and the other great finance tools available!

Have fun!

By the way, I used the tool to determine the amount of money I need to send in each month to pay off my house in three years. YIKES!

Let's just say that I need to sell a LOT of books!

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

We are even more fired up about getting rid of the mortgage!!! Why? Because we are taking

REAL ACTION to reduce our expenses so that we can send even more money toward principal!

So Jenn and I have shook hands and made an agreement that the house payments will be gone within by October 2011 (Three years and 11 months). You guys will all get to watch the mortgage leave by watching the "Sangl Family Home Pay-Off Spectacular" turn green!

Here is the update!

Total Squares: 2,426

Paid-For Squares: 691

Squares Remaining: 1737

% of House Owned By The Sangl's: 28.5%

% of House Owned By Wells Fargo: 71.5%



Another whopping 0.7% paid off! Wow!

I am comforting myself by telling myself that for each $1,000 of principal I pay off, I am saving $62.50/year (5.21/mo) in interest (The mortgage note is 6.25%). That means that I get to save that $5.21/month for the 28 months that it would have taken to reach my new principal balance should I have paid it as scheduled.

With all of the savings going toward additional principal reduction, I am CHOPPING the legs out from under Mr. Compound Interest!

Here is an analysis of the impact paying different payments makes.



Get your own Debt Pay-Off Spectacular HERE.

Already debt-free? Get your own SAVINGS Spectaculars HERE.

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You can view my column in the Anderson Independent-Mail by clicking

HERE!

I am PUMPED about being able to help even more people start winning financially!

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E-Trade is offering $25 for any NEW customer who opens one of their new "Complete Savings Accounts"

The link to follow is

HERE!

Here's the great part. You apparently only have to open the account with $1!

So I opened an account with $1. I have to leave the money in the account for 30 days and then the $25 is mine.

According to the link HERE, E-Trade bank is FDIC-insured up to $100,000.

$1 = $25

That's good money!

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Introduction
This couple is THROUGH with debt! It has now been four months since they announced to their debt that they are breaking up with it!

Here's this month's update!

What went well this month …
This month was a good month. We planned ahead for things that were going to cost us money (2 weddings, a birthday and a baby shower). We also worked on our Christmas shopping this month…started early…and paid in CASH!! It was GREAT!!

Another great thing about this month is we didn't even realize it was pay day until we saw the money deposited in our bank account. Planning ahead and scheduling all of our bills at the beginning of the month frees us from worrying about when the next check is coming in. In other words, we are not living pay check to pay check anymore.

Oh yeah, I almost forgot, we paid off another credit card…3 down, 1 to go!!

Challenges and struggles for this month …
Just like the past couple of months we have struggled with making our cash envelopes stretch until the end of the month. But, it helps us practice saying NO!!

We overspent on our gas this month by about $60. When we planned the trips to the two weddings we did not incorporate the cost of gas; one was in NC and the other in Tenn. And we had Thanksgiving in Georgia. I did not think about the extra gas we would need this month. We have to go to Florida for Christmas and we are going to budget gas money for the trip. I won't forget about the extra gas money from now on, that's for sure!!!

Here is their updated

Debt Freedom Date calculation …


Month By Month Progress …


Sangl says …
Couple #2 discovered that they owed less on vehicle 2 and that reduced their debt owed by nearly $3,000, but they still were able to reduce actual debt by nearly $1,800! I am FIRED up to see that the Providian card has left! Another CC bites the dust!

The challenge now is to pay off the Disover card. If they pay $325/month, it will take over a year to pay off this debt! That is a long time and it could really challenge Couple 2 to stick with their plan. I would really like to see Discover leave sooner because regular victories are so key to sticking with this plan!

Here's to hoping that a Christmas bonus or Tax Refund is in their future!

I am also PUMPED up to hear that Couple 2 is no longer living paycheck-to-paycheck! I remember the day that I stopped living paycheck-to-paycheck. I still have that feeling of relief and stress reduction.

Way to go!

Readers …
Couple 2 has made great progress! How is YOUR debt freedom plan going?

Would you share with Couple 2 your thoughts on how their willingness to "put it all out there for the world to see" is inspiring you to embark on your own Debt Freedom March?

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

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Introduction

Couple #1 has HAD IT with debt! They have been married for many years and have two children.

It has now been three full months since they embarked on their Debt Freedom March! That means that the hardest months are behind them!

On to the update for this month!

What went well this month …

I can see improvement not just in the numbers but in the actions of me and my family. The kids are starting not to hound me for things that cost so much.

Challenges and struggles for this month …

Christmas is LOOMING and I have not planned ahead. I think what I have decided to do is to pay cash for Christmas and to pay the minimums on the debt just for this month and resume the march in Jan. This will be the last year of a Christmas not planned ahead.

Updated Debt Freedom Date …


Month By Month Progress …


Sangl says …

I am FIRED UP by the progress that Couple 1 has made! In just three short months, they have made two debts leave and paid off over $3,000 in debt!

Even more important, the family is getting on board! The children are realizing how huge of a lifestyle change this is and are jumping on board! There is NOTHING like a united family attacking debt.

I am thrilled to see that Couple 1 is going to start saving for Christmas 2008 in January! It is SO MUCH EASIER to save for known, upcoming expenses over the course of months instead of absorbing the entire budget-crushing expense in a single month.

While they are going to pay less on debt, I am PUMPED to see that they are avoiding Christmas debt by paying cash! This is so important! As you attack debt, you will encounter expenses that threaten your ability to avoid debt. You have to make the decision that NOTHING is important enough to go get debt. Way to go!

Readers …

You can save for Christmas (and property taxes, annual insurance premiums, and other known, upcoming expenses) in advance as well with your own monthly escrow account.

THIS ARTICLE shows you exactly how to do it!

It is encouragement time for Couple 1. Would you take a moment to share your thoughts with Couple 1?

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I am back home from speaking and teaching at Lifepoint Church!

What a fabulous weekend!

I can tell you this … God is moving big time in Wilmington, NC and I am fired up about it!

Jeff Kapusta, Daryl Strickland, George Kapusta, and the entire team at Lifepoint Church are obsessed with impacting their community and that FIRES ME UP!!!

Here is a summary …

* Lives were changed as a result of attending the Financial Learning Experience!
* If you attended the FLE this weekend - You CAN do this!!!
* The entire Lifepoint team LOVES Apple products. It was iPhone this and Macbook that and "Joe - you need to see the light and dump that PC" all weekend long. I kept telling them that it is highly logical that Function-F4 and adjusting the visual display properties is very intuitive. I suspect that I helped strengthen their argument.
* The entire Lifepoint church has a "cool" factor that a nerd like me does not have. I wonder if an Apple product would help me become "cool" in some small way. Smile
* God is moving in ways I did not understand until I started teaching these classes at different churches. Churches like Crossroads, Oak Leaf, The Revolution, Barefoot Community Church, 5 Point Fellowship, Word of Faith Christian Ministries, and Lifepoint.
* The calves', calves', calves', calves have calves. The calves', calves', calves' have calves. The calves' … I guess you had to be there. It was REALLY funny!

It was a GREAT weekend! Lives were changed, and I am more FIRED UP about the crusade than ever before!

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As part of Google Analytics, I get to see the locations of people who are checking the blog.

Behind the state I live in, Texas and California are routinely in the top four states in the "hit" count.

So, Texas and California, I want to come to your states and teach the

Financial Learning Experience.

Where should I teach it? I have listed a few of the places I think I should teach it below …

Texas - Top Hit Locations

1. Dallas
2. San Antonio
3. Houston

California - Top Hit Locations

1. San Franciso
2. Los Angeles
3. San Diego

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I can't wait to carry the crusade to Wilmington, NC this weekend!

I will be speaking during the Sunday morning services of

Lifepoint Church - Pastor Jeff Kapusta

They are finishing a series called "ING - A Financial Series" and you can listen to the iTunes podcast by clicking HERE.

On Sunday afternoon, I will be conducting the Financial Learning Experience! This is a two-hour, practical, HOW-TO, LIFE-CHANGING experience! There is one thing I do know about this class - it is changing lives!!! That FIRES ME UP!

The crusade is also coming to Peachtree Community Church - Pastor David Reid in Villa Rica, Georgia two weekends from now (December 9th)! It is part of the "Money For Dummies" personal finance series! I LOVE IT!

Interested in having Joe carry the crusade and the Financial Learning Experience to your church or business? Contact Joe by clicking HERE!

My

blog post about Wants Needs a couple of weeks ago really generated quite a response, and it has been interesting to receive all of your feedback on the steps that Jenn and I are taking to eliminate our home mortgage.

If you recall, we are considering eliminating/reducing our spending on:

* Cable TV
* Spending Money
* Babysitting Money
* Internet
* Entertainment Money
* Gasoline Money
* Christmas Money

Well, here is an update to our discussion.

* Cable/Internet I was spending $126/month on my stupid cable and internet bill. That is ridiculous!!! After forty minutes of phone conversation and talking to six representatives (yes I counted), I have been able to reduce to basic cable and basic internet for $34/month. That is a savings of $92/month! Annually, that is a savings of $1,104 and it will allow us to color in over 15 extra squares on the Sangl Family Home Pay-Off Spectacular PER YEAR!
* Gasoline Money We are starting to take our lunch to the crusade instead of going home. This allows us to save 12 miles of driving each day. This will save us around $36/month! Annually, that is a savings of $432 and it will allow us to color in nearly 6 extra squares on the Sangl Family Home Pay-Off Spectacular PER YEAR!
* Babysitting, Entertainment, Spending, and Christmas Money are all on the docket for this month's spending discussion. PRAY that this goes well!

As I have routinely said throughout my life - Thoughts and talk without action is mere babble!

We are taking ACTION to destroy this stupid mortgage!

I welcome any money saving tips you may have!

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As I have helped people prepare hundreds of budgets, I realize that debt is sometimes hidden from people.

Let me give you an example.

One of the first things I ask when helping a person prepare a written budget is "How much is your take-home pay?

They tell me a number, and we start applying the famous equation: INCOME - OUTGO = EXACTLY ZERO

Everything is proceeding smoothly until we get to the debt column. The "revealing" of the hidden debt happens here.

The statement is made, "I have a 401(k) loan, but it is taken out of my paycheck. Should we include it here?"

The 401(k) loan is taken from their paycheck before it ever gets to them. Ever hear the saying, "Out of sight. Out of mind."?

I usually adjust the "Take-Home Pay" by the loan payment amount and then include the payment in the debt column.

Here are some common "Hidden Debts" that I see:

* 401(k) loans
* Overdraft loans
* Car payments
* Company loans

These hidden loans are "Out of sight. Out of mind." Yet they are eroding one's ability to win financially.

Expose the debts to daylight and ATTACK them!

Oh, by the way, you ought to list out all of your paycheck deductions and see how much you are paying annually for each one. When you see how much you are paying in taxes, it will ensure that you vote every single time you have the opportunity!!!

You can start your written spending plan by using one of the FREE easy-to-use forms on the

TOOLS page.

Subscribe to www.JosephSangl.com

About eight weeks ago and after nearly two years of blogging, I finally established the ability to track the number of downloads for individual forms.

Sometime this week, the

Monthly Budget Form (Excel) will be downloaded for the 1,000th time during that eight week period!

That is ABSOLUTELY AMAZING!!! I put these tools on my web page for FREE because I wanted to help people start winning with money, and it is working!!!

How do I know that it is working? Read some of the success stories HERE.

Are you one of the many who have started using the budget forms to put together a spending plan that works? Share your success story HERE!

Maybe you have been on the fringe reading the writings of this lunatic named Joe Sangl. Is today the day that you will put together a spending plan that works? Click on TOOLS at the top of the page to start your journey to financial freedom!

Text is Read recent posts by Joe and Link is http://iwasbroke.savingadvice.com

Read recent posts by Joe

I remember the days that I used credit cards to pay for Christmas.

There were two key reasons that I used these fabulous credit cards:

1. I did not save money for Christmas during the year
2. I overspent on Christmas presents

I solved #1 by creating a Christmas escrow account.

Let's say that I wanted to spend $1,000 for Christmas. By saving $83.33 each month, I magically have $1,000 when Christmas arrives! This takes away a lot of stress, and I highly recommend it! You can read more about creating your own escrow account by clicking

HERE.

I solved #2 by putting together a written plan for my Christmas shopping. I pulled up a copy of the Mini-Budget Form (Excel)on the TOOLS page and entered the names of those I am shopping for this Christmas.

At the top of the form, I entered $1,000 for the "Cash Budgeted".

I then wrote in the amount of money that I plan to spend for each person on the list.

Applying my secret formula for financial success, INCOME - OUTGO = EXACTLY ZERO, I spend the $1,000 to EXACTLY ZERO.

By pulling out cash for the Christmas Shopping, I can ensure that I will not overspend!

I am FIRED UP by all of the success stories that readers are sharing via the "Success Stories" link! Have you shared your successes - both large and small? You can do so by clicking on SUCCESS STORIES on the sidebar or by clicking

Text is HERE and Link is http://iwasbroke.savingadvice.com/2007/11/20/new-feature-success-stories_32191/

HERE!

"I saved $3,000 when I bought this new car!"

"I saved $250 when I bought this new TV!"

"I saved $200 when I bought this new computer!"

I am sure that you have heard people say this. You have probably said this. I know that I used to say this a lot!

The FACT is that - I have never seen anyone save money by spending money!

I have seen them spend less money, but I have never seen them save money.

People want to believe that they are getting a great deal, AND they know that they should be saving money. Marketers are genius to use the phrase "Save money by buying today!"

I will probably use this phrase when my book is released. I will say … "Save $3 by purchasing today!"

I guess there is one way to kill my statement. That is to take the money that you did not spend and actually save it!!! Like physically putting the money into a savings account where it can gain interest. That would certainly put a hole in my rant!

I really like saving my emergency fund money in my

ING Direct account and receiving 4.2% interest (it's current interest rate)!

Read recent posts by Joe

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Receive each post via E-Mail!

Today, I proudly introduce a new feature - Success Stories!

Beginning today, there will be a link on the sidebar that links to this post. Why? Because this is THE SPOT where you can tell the entire world about your financial successes - both great and small!

Did you save money on car insurance? We want to hear about it!

Did you try out cash envelopes and save money at the grocery store? We want to hear about it!

Did you put together your first-ever monthly budget and actually follow it? We want to hear about it!

I want to hear your stories! We all want to hear your stories! Let's see if we can get 1,000 success stories by the end of the year!

I am going to list one of my recent success stories first! Who's next?

Read recent posts written by Joe

It seems my

post on eliminating expenses out of my life has generated some really strong feedback.

I have gotten comments on the blog, e-mails sent directly to me, and pretty strong feedback from individuals I see weekly.

I have gotten statements like …

* Joe, you have to live a little!
* Way to go!
* Why are you doing this?
* You should also considering cutting …
* This seems extreme
* You should invest all of this extra money instead of paying down the mortgage.
* You're crazy!

Why is it that all of the people who are suggesting that I am a little off of my rocker for doing this all have house payments?

Folks, I am not doing this to be normal. If I wanted to be normal, I would still have car payments, student loan payments, credit card payments, furniture payments, and dog payments. That is what normal is in America - I've lived that way (except for the financed puppy), and TRUST ME I like the debt free life better!

I CHOOSE to NOT be normal!!! As I like to say when teaching my class - you can call me crazy, weird, a nerd, or anything else - just don't call me broke anymore!

Who's with me?

Jenn are going through a season where we are SICK of paying mortgage payments. We have been debt-free except for the house for nearly four years, but this stupid house mortgage makes us angry!

If we paid the regular monthly payment for a thirty year mortgage at a fixed rate of 6% interest, only 17% of the principal & interest payments made in the first year go to principal! Where does the other 83% go? To the mortgage lender!!!

No wonder people aren't winning financially!

So, Jenn and I are attacking the mortgage. This translates to the fact that we are boosting income and cutting spending.

As part of the "cutting spending', Jenn and I are having to have the Wants vs. Needs discussion.

I have got to tell you, it is BRUTAL!

Here is what is up for cutting or eliminating in our budget:

* Cable TV
* Spending Money
* Babysitting Money
* Internet
* Entertainment Money
* Gasoline Money
* Christmas Money

Here is NOT what is up for cutting or eliminating in our budget:

* Vacation Money (we save for it monthly)
* Retirement Savings
* College Savings

I need some great ideas for saving a boatload of cash. Anyone have any great ideas?

Another edition of the Weekly "I Was Broke. Now, I'm Not!" Podcast was released yesterday! To subscribe to the podcast via iTunes, click

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

Text is HERE and Link is http://feeds.feedburner.com/JSFinancialFreedom

HERE.

Subscribe to www.JosephSangl.com

I remember back when I had an average bank balance of $4.13. I had a savings account that paid a whopping 0.25% interest.

I would be paid something like $0.02 in interest per year, but get charged $5 per month for being under the "minimum balance" they had established.

What a lousy deal! It was a lousy deal when I had $4.13 in the bank, and it was a HORRIBLE deal when I had way more than $4.13 in the bank.

That is why I am such a big fan of on-line savings accounts - especially my ING Direct on-line savings account.

ING has no minimum balance requirement, charges no fees, has outstanding customer service, is FDIC-insured, and is currently paying 4.2% interest on their

savings accounts! They even pay 3.25% interest on their checking accounts!

For money that I am not going to need for at least five years, I invest in mutual funds.

For money that I will need in the next five years, I carry in an interest-bearing savings account that pays great interest!

Let me ask you the question again. How much interest are you getting paid?

As a teacher, counselor, and speaker, I am able to teach personal finances to thousands of people each year.

One of the hardest things for me to see is those "who fall off the wagon."

These are the people who get PUMPED UP to start winning with their money. They put together a written spending plan, calculate their Debt Freedom Date, and tell everyone they know that they are getting out of debt.

Flash forward three months. The written spending plan has been trashed and is not updated. The Debt Freedom Date has been stored away. They hang their heads saying, "I guess we won't be able to win with money."

That hurts my heart! It makes me want to cry! Why? Because I KNOW that the tools I teach WORK! I am living proof! I was able to break free of debt. You can do it too!

I don't know all of the reasons that cause a person to fall off of the wagon, but I am here to tell you that YOU CAN WIN WITH YOUR MONEY!!! You CAN do this!

Pull out the WAGON STAPLERS - your monthly spending plan and debt freedom date calculation!

Go to the FREE TOOLS page and put together a spending plan for the rest of this month. Update that Debt Freedom Date Calculation! Print it out and put it on the refrigerator!

You CAN do this!

Text is Purchase resources recommended by Joe and Link is http://astore.amazon.com/wwwjosephsang-20

Purchase resources recommended by Joe

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