Ask For Help! Be Accountable To Someone.
C is for Coaching. It probably seems a little self-serving, since I’m a financial coach. While I do think that more should seek out services like mine, the truth is we each should have somebody in our life that we trust to guide and urge us on to be better, especially in the area of money. Sadly, too few of us do.
For some reason, our money – more than almost any other issue in our lives – is not to be discussed with other people. It’s taboo. We talk about personal relationship issues, health issues, spiritual issues, addictions to pornography and drugs, but we don’t talk about money.
– Russ Crosson, The Truth About Money Lies.
So, how do you find a money coach?
- Think about your money. How are you struggling? What do you want to change? Coaches can only help you make progress if you’ve thought about the direction you’re trying to go.
- Speak up about it. Being open about your need gives others the opportunity to bless you with options you might not have been aware of.
- Learn more. We’re living in an age of information. Take advantage of books, videos, and podcasts. Find out what kinds of money management classes and seminars are being offered in your area. Also, read the Bible. The books of Proverbs and the teachings of Jesus are full of valuable lessons about money.
- Act. The more you expose yourself to sound money principles, and the more you surround yourself with like-minded people, the sooner you’ll find a coach. Maybe it’s that millionaire that looks nothing like a millionaire – or the teacher of the money management class you’re taking – or a pastor. Buy them lunch, and ask for help.
You might decide that hiring a financial coach is your best answer. It’s worth paying to get results because your heart follows your money. If you spend it on knowledge and accountability, then you’ll put your heart into it.
Where do you go for great money advice? And who’s holding you accountable with your saving and spending? Anyone have a good word for Z? Let me know in the comments below!
[image from publicdomainpictures.net]
If you struggle with your money, join me for FPU this Summer
I’m ramping up to coordinate my second Financial Peace University session for the year. The Spring session I had the privilege to coordinate was amazing, with 20 families completing the material and over a $100,000 turn around of their finances. It’s great to be able to be a part of a life-changing event for so many people.
If you’ve never taken Financial Peace University, I recommend it. It’s a great first step for families who are struggling with money issues and don’t know where to start. If you’re in the Tucson area, and you’re interested in joining a class, you’re all welcome to join mine.
We’ll be starting with a short orientation meeting for anyone interested in finding out more about FPU. We’ll be going over the class schedule and format, talk about what we expect from class members, how childcare will be handled, and answer any additional questions. That will happen on May 21st at 6:00 pm, and it shouldn’t last more than forty-five minutes.
The schedule breaks down as follows:
- May 21 – Orientation
- June 4 – Super Saving: Why you should save money, and why you need to start now.
- June 11 – Relating With Money: Why families must work together to achieve financial goals.
- June 25 – Cash Flow Planning: How to develop a monthly budget that really works.
- July 2 – Dumping Debt: What myths we believe about debt, and how to become debt free.
- July 9 – Buyer Beware: Why marketing is so powerful, and how to reduce it’s influence.
- July 16 – The Role of Insurance: What insurance you need to have, and what to avoid.
- July 23 – Retirement and College Planning: How to plan for the future.
- July 30 – Real Estate and Mortgages: How to buy or sell a home.
- August 6 – The Great Misunderstanding: Why you should live a generous life.
All meetings, including the orientation will be held at Saguaro Canyon Church at 10111 E Old Spanish Trail. Childcare is provided each time with a suggested donation.
If you want to find out more information or register for the class, you can check out the class page on DaveRamsey.com for all of your answers. Hope to see you this Summer!
Have you taken FPU? What was your experience? What was the most important thing you learned? How did it change your life and your finances?
FPU Lesson 9 – The Great Misunderstanding
This is the lesson that makes all of the difference. You can do everything covered up to this point, and it’ll work, but you won’t be half as successful as you could have been. How can generosity possibly play a part in building wealth? Below are my notes from the lesson, including the key points that I highlight from the video when leading the class, and some supplemental material that I think could help the class go further on this topic.
Lesson 9, The Great Misunderstanding
Key Points
The great misunderstanding is that we believe the way to have more money is to hold on to what we have tightly. The truth is that it’s just the opposite. When we hold our money with an open hand, instead of a closed fist, it’s able to flow out and in more freely. Generosity is a tool for wealth building.
We are not owners. We are only managers. We’re stewards. This is the hardest thing for us to accept. Everything we have is there for us tend, cultivate and grow, but not for ourselves.
Giving makes us more Christ-like. God is a giver. A spiritually mature Christian gives. If you have dedicated your life to following Jesus, but you’re not generous with what you’ve been given, you’ve missed something.
Challenges
The Parable of the Talents. From Matthew 25, and it has become one of my favorite passages. It covers the major points of how we need to approach money:
- Everyone is given something, each according to their ability. There isn’t any room for envy. We each have what we can manage.
- Grow what you’re given, no matter how small. Don’t bury it.
- Be ready to give it all back to the one who gave it to you.
- Being responsible with what you’re given right now prepares you for more in the future. In the end, how you grow what you’ve been given reflects on how you are growing. We all want to hear “Well done, good and faithful servant.”
This is only the beginning. You might still have months (or years) to go before you’ll see huge progress. Remember that you’re trying to be the tortoise, not the hare. Be committed to continue educating yourself about money. Read at least one financial book every year.
FPU Lesson 8 – Real Estate and Mortgages
Lesson 8, Real Estate and Mortgages
Key Points
Be patient when buying a home. Think like an investor. Overlook bad and outdated features. Use experts to confirm the home’s value. The purchase of a house is a major financial event in our lives. Rushing through the process would be a mistake. Surround yourself with advisors to find a house that you will enjoy living in and will hold it’s value.
Never get more than a 15-year fixed mortgage, with at least 10% down. No more than 25% of your take-home pay in house payments. Being house poor is usually a worse fate than being in heavy credit card debt. Setting a specific upper limit to your purchase helps keep you from being in over your head.
When you get ready to sell your home, think like a retailer. You’re not selling someone a house, you’re trying to sell them their new home. Your home is now a product, show off its best features.
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Next week: Lesson 9 – The Great Misunderstanding
The Book of Faces
A Bodey in Motion 