What is a Crisis Budget and When Do You Implement it?
Show Notes for March 14, 2018
Planning for the unplanned financial crisis will help you survive economic setbacks with minimum impact to your financial stability. Here’s how:
- Use a budget and know how much you are spending on a monthly basis.
- Think about the most likely financial crisis that may occur.
- Update your monthly budget to reflect the most likely loss of income or increased expenses.
- Try living on the crisis budget for a month.
- Implement the crisis budget immediately if there is even a hint of the crisis becoming a reality.
Credit Scores and Real Life
Show Notes for March 7, 2018
Staying on top of your credit report and credit score means you are monitoring your financial health. Here are some tips:
- A bad credit score means you’ll pay higher interest rates
- Your credit report and credit score are different
- You should monitor your credit report on a regular basis for errors
- There are several free ways to get your credit score through identity monitoring agencies, banks or credit card companies
- You can improve your credit score by paying attention to how it is calculated.
What do You Really Want in Your Financial Life?
Show Notes for February 28, 2018
A recent article in USA Today by Peter Dunn said that what most people want in their financial life is self-control. While we agree with some things he said, we think he stopped one step short of the ultimate goal. Self-control leads to the ultimate goal which is contentment. Learning self-control is a step in being content. And when you become content it does not matter if you have a little or a lot, you are content knowing that you are just where the Lord wants you.
How Do You Know if Your Spending is Out of Control?
Show Notes for February 21, 2018
Just like those extra pounds seem to pile on, we can slowly develop habits that lead to out of control spending. How do you know if you are in that situation? Listen in and see if any of these clues apply to you:
- You buy something just because it’s on sale
- You have to buy the newest thing just because it’s NEW
- You waste money on unnecessary fees
- You eat at a restaurant more than you eat at home
- You don’t take advantage of loyalty programs where you spend the most money.