Show Notes

Show Notes for September 13, 2017

There’s lots of things to consider when you are thinking about buying a house. The first thing is to decide if it is better to rent or buy. Then there is the cost, the location, the size and all the other stuff that comes with being a homeowner. This podcast will help you learn more about all the things you need to take into account when making the largest financial decision of your life.

Visit the Compass Catholic blog for more tips on buying a house and avoiding financial disaster.  The calculators on the Compass Catholic website will help you calculate mortgage loan payments, down payments, or acceleration on your current mortgage.


In Mark 12:17, Jesus said to pay to Caesar what belongs to Caesar, but if Caesar creates rules that allow you to lower your taxes . . . then take advantage of those opportunities! Here are some tax saving ideas.

Adjust the number of dependents claimed on your W4 form so you are tax neutral.

Boost your retirement savings and reduce your taxes by contributing to a qualified retirement plan.
Take advantage of a health spending account and a child-care reimbursement account if your employer offers them.

A child born, or adopted, is a blessed event for your tax return. An added dependency exemption will knock $4,050 off your taxable income.

Saving money on your taxes isn’t just an April 15th tax-day exercise. Monitor your income and expenses to save on your taxes all year long.


Planning Your 2018 Vacation

One of the major financial holes Americans dig themselves into each year is their summer vacation. Most people do have a financial plan for the year that budgets for the costs of a vacation.
Where do you start if you want to take a vacation but don’t want to go into debt? First, figure out how much you spend on a yearly vacation and put 1/12 of that in a savings account each month. If you don’t have money to save each month before the vacation, then you don’t have the money to pay the credit card bill (which also includes the interest!) after the vacation.


It Takes Extraordinary Effort to Get Out of Debt

Debt is so easy to get into and so hard to get out of. Getting into debt is like sliding down a slippery slope and getting out of debt is like trying to climb out of a hole by making your way slowly and painfully back up that same slippery slope.
My husband and I have made every financial mistake there is to make – using debt to fund a lifestyle we could not afford; spending long term savings for short term needs; starting a business with no plan on how to survive financially; not being generous in our giving.

But if we can become totally debt free, so can you!

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