The Garage Sale Mentality and Spending

We all like stuff. Some of us like cars. Some of us like boats. Some of us like technology. Some of us like collectibles and trinkets.

Have you ever considered that everything you own is going to end up in a garage sale someday? That's right. Not long after you pass away, family members will be combing through all of your worldly possessions deciding what they will keep for themselves and what will go into a huge estate sale.

Pretty sobering, huh?

Personally, I hate stuff cluttering up my house, and it's a constant battle of getting rid of stuff that you don't really need, especially when you have two young children in the home. I'd rather give, save, wisely invest my money, and make only necessary purchases.

So, the next time you're buying birthday or Christmas presents for your children, ask yourself, "do my kids really need five presents each, especially when other family members will be buying them gifts as well?" Or, the next time you're out running some errands and you run across an item in the store that you absolutely "just have to get," just remember the great big garage sale that's coming after you have left this earthly life. The simple life really is a better life.

Do not store up for yourselves treasures on earth, where moth and rust destroy, and where thieves break in and steal. But store up for yourselves treasures in heaven, where moth and rust do not destroy, and where thieves do not break in and steal. For where your treasure is, there your heart will be also (Matthew 6:19-21, NIV).

How Can I Become More Productive?

I'm currently in a life situation where I'm feeling somewhat productive, but I'm also feeling overwhelmed by the mundane activities of life that are draining me of energy as well as time to unwind and relax. I know that I can become more productive by making some small changes going forward.

Here's how I'm attempting to increase my productivity over time:

1. Scheduling a regular sabbath day. I'm beginning to learn that sometimes just stopping activity for a period of time will boost your overall output. At the end of the last two weeks, I have been running on empty. I have been so exhausted that I really had no desire to do much of anything. Normally on my days off, I would schedule work at home to be accomplished, but no longer. I'm beginning to see the benefits of taking a solid 24 hour period of time to stop all work activity to give my body, mind, and spirit enough time to recover. Get it on your calendar. Stop all work activity in order to be refreshed and renewed. In the last few weeks, I have discovered that the day after taking a Sabbath day, I am way more productive in one day than if I struggled through working two days in a row.
2. Taking advantage of vacation days. At the end of each year, do you typically have a bunch of vacation time that you have not used? Your employer has given you this vacation time as a part of your compensation package. This is considered time off for financial remuneration. This is a fringe benefit that you are given in order to renew yourself so that you can be even more productive in your work. I'm currently taking a day off here and there for the remainder of 2009 in order to get my life in balance, as well as to make time for financial health days and Sabbath days. You will never get reimbursed financially for these vacation days, so you better just go ahead and use them!
3. Using a whiteboard. I have found that having a whiteboard at home is extremely useful in getting key tasks in front of my eyes so that I will complete what I need to accomplish.
4. Utilizing a Powerlist. Every day at work, I use a Powerlist that helps keep me focused on my most important work priorities. If you would like a copy of my list that you can tailor for your own needs, just shoot me an email at larryjones.biz@gmail.com.
5. Taking time to sharpen the saw. In Stephen Covey's groundbreaking book The 7 Habits of Highly Effective People, he mentions that Habit 7 is "Sharpen the Saw." Taking a Sabbath day can be included in with this area, but so can reading, writing, planning, meditation, exercise, proper diet, and so on. It's difficult to be as effective as you could be if you are not taking the time to learn and grow.
6. Lean on people that have offered to help. I have found during difficult circumstances that members of the body of Christ have come alongside me and offered me assistance as I need it. The American way is to become a "silo" and completely self-reliant. We all have challenges and need help from time to time. Allow others to help you when you are in need.
7. Changing my mindset to "it's good enough for now." I'll admit it. I'm a perfectionist. It's easy for me to delay completing a project or take action because everything is not "perfect." Over time, I'm learning that sometimes your best in the moment will need to be good enough for today. I can make changes and corrections if needed at a later time. Get things done and move on to the next. Don't get paralyzed by perfection and inaction.
8. Considering outsourcing. If you have the financial resources to do so, hire help. Start with something small, such as hiring someone to come in and clean your home once a month, or cutting your grass once a week. This can save you considerable time and energy, boosting your overall productivity.

What techniques have you found useful in boosting your own productivity?

Accentuate the positive | Eliminate the Negative

It's the start of another week. For some people, Mondays are the dreaded start of another workweek. For others, it's a fresh start to accomplish some worthy goals in life.

So what's the difference? Just like the song in the video clip above, some of us choose to focus on the positives of our lives and eliminate the negatives as much as possible.

So, instead of focusing on what's not right in your life right now or what you have failed to accomplish, try these steps to accentuate the positive this week:

1. Create a list of everything that's going right in your life. Write down all of your blessings whether they be great or small.
2. Spend time in your daily quiet time thanking God by reading your list back to Him.
3. When someone gives you something unexpected, such as a note of encouragement, a free lunch, a gift, or money, immediately thank them in person, by phone, by email, or with a thank you note.
4. Give away a financial gift to your church, a friend in need, or the poor. There's something about giving financially to others that makes you feel grateful for what you have.
5. Give away yourself this week. Take someone out to lunch or dinner that needs encouragement and pay for it. Give of your time, talents, and abilities in service to your church or other charity.

What are you thankful for this week? What are the positives you can focus on today? What are the negatives you can downplay or eliminate?

Take A Financial Health Day! - Part 3

Today, I took my third financial health day in the last four weeks. Many of the actions I have taken in recent weeks were ideas that I picked up from Ramit Sethi's blog and book of the same name, I Will Teach You To Be Rich. I highly recommend this book for practical, everyday ways to save money

My focus for this day was to automate my monthly bills. In the span of 2 hours, I automated the following bills:

1. Auto, home, and life insurance policies under the same company.
2. Cell phone.
3. Electric company. I wasn't able to complete this over the phone, but our local company is mailing me the auto-draft form to complete and mail back. It will take a couple of billing cycles to get this locked in automatically.
4. Gas Company.
5. Water Company. I mailed in the form and voided check, so this will take an additional billing cycle to take effect.
6. Trash Pick-up.
7. Cable/Internet.

The majority of these companies were pleasant to deal with, and I was able to accomplish the automatic monthly payment feature relatively easily. What I did find strange, though, is that each company has different procedures to get this accomplished. A couple of them were all done by phone - fast and easy! A couple of them directed me to their website to do everything online. And the final three had more dated procedures of printing out forms and mailing or scanning/emailing voided checks. With today's technology, I assumed we were past the form and voided check days, but apparently that is not the case.

The purpose behind automatic payment of these regular bills is to:

1. set it and forget it!
2. avoid late payments.
3. save time paying bills.
4. boost personal productivity.

Do you automate your finances and has this been a positive or negative experience for you?

Control your back-end | Focus on your front-end

When you're in the middle of a financial crisis, it's easy to focus on controlling the money that is going out of your budget. You become tight-fisted and concerned about your everyday spending. I call this the back-end of your personal finances.

Controlling the back-end of your finances is very important, but it shouldn't be your long-term focus. Once you have your budget expenses under control, focus your time and energy on your front-end. This is your income.

Here are some questions to ask as you focus on increasing the front-end of your finances:

1. Do I have some stuff that I can sell to at least boost my front-end in the short-term?
2. Is it possible to get a raise at work?
   
3. Is it possible to transfer to a higher paying position at my workplace?
4. Is it possible to take advantage of benefits at work that will gain me money?
5. Should I look for a better paying job?
6. Do I have the time and energy to pick-up a second job for a period of time to get out of debt faster and help me through my financial difficulty?
7. Do I have a talent or ability that I can transform into a valuable service for people in order to gain part-time additional income? Maybe you could become a wedding singer, a painter, a landscaper, or a tax return preparer? Be creative and see if you can create a niche market offering your services. Doing this can sometimes lead to a full-time business that brings in more money than your original job.
8. Can I build a part-time business out of my house in order to bring in additional income?
9. Can I rent out a part of my house for an additional stream of income?
10. If my spouse is not working, should they pick-up a part-time or full-time job?

Be creative. Use the assets, talents, and abilities that God has given you to increase your front-end income. As you dig out of a financial mess, you need the big shovel of your income to help get you out.

Do you have a story about picking up a second job or starting a part-time business in order to increase your front-end income? If so, leave a comment. I'd love to hear your story.

Problems = growth

The Problem, the Pain

Intellectually, many people recognize that going through problems can cause growth. The challenge is that when you are going through the pain, agony, and frustration of the problem, it can be difficult to view the problem, objectively.

How should you view the problem?

We need to view the problem through the eyes of Christ. 1 Corinthians 10:13 says, No test or temptation that comes your way is beyond the course of what others have had to face. All you need to remember is that God will never let you down; he'll never let you be pushed past your limit; he'll always be there to help you come through it (The Message). God's Word states that He will never give more than we can handle. He knows what we can take on that will grow us and not destroy us.

View this struggle as an opportunity to grow:

1. spiritually. God wants to go deeper with you through the problem. Allow Him. Get into the Word. Get on your knees in prayer. Fast. He wants you to be fully satisfied in Him. Draw close to Him and allow Him to work in your life.
2. emotionally. Getting all worked up emotionally solves nothing. Is it difficult to control your emotions? Sure it is, but it is possible. Get real about how to control the anger and hurt that overwhelms you in the moment.
3. intellectually. As you go through the problem, read books, seek counsel, and research the internet. Learn as much as you can about the problem and how to face it.
4. physically. Release the stress of your problem through exercise. Get in shape. Get the proper amount of sleep. Take time off of work. Eat a healthy, balanced diet. You can fight through your problem a lot better if you're in good shape and well rested.
   
5. relationally. You need people to surround you as you go through your difficulty. Don't bunker down by yourself. Connect with your family. Reconnect with your friends. Go out to lunch with others on a regular basis. We really do need each other.
6. financially (or professionally). Perhaps during your trial the Lord is trying to teach you how to do more with less and be content with what you currently have. Be a great manager of what God has given you through the trial and maybe He will bless you with even more to manage on the other side.
7. recreationally. Do you need to learn how to let go and experience joy through a difficult phase in your life? Get out of the house. Do something fun. Enjoy God's creation.

Conclusion

The next time you find yourself wrapped in the pain of a challenging time in your life, lean on Christ and pray, "Lord, what are You trying to teach me through this difficult time in my life? In what areas are you trying to grow me?" Then, go through the list above and examine your life. Make a list of the areas in which you need to grow, and allow God to work in your life.

The unexamined life is not worth living. - Socrates

Get Smart About Credit Day | October 15

What is Get Smart About Credit Day?

The American Banker's Association has declared today as Get Smart About Credit Day. According to their website, the purpose behind this day is:

The Get Smart About Credit program connects bankers with students and young adults to help them to develop a stronger understanding of credit and how to use it responsibly. As the economy and new legislation shape a new credit reality for young adults, the ABA Education Foundation is using the seventh annual Get Smart About Credit Day -- celebrated Oct. 15 and throughout the month -- to stress the fundamentals of wise credit use.

"The credit reality for young adults will differ greatly from that of their parents," explains Laura Fisher, director of the ABA Education Foundation. "But while the landscape has changed, the journey is still the same; understanding how to use credit responsibly is the path to success."

My Take

While I understand that we live in a world today that worships at the altar of the great FICO® score, I believe we do a disservice to people by encouraging them to go into debt and stay in debt to build a credit score.

I think it would be better if we encouraged people to pay off debt as quickly as possible and build up their savings in order to weather our current economic climate.

The United States would be in a better financial position if people ran their lives with minimum to zero amounts of consumer debt, had money in savings, and had mortgage payments that only consume 25% of their income.

We would also benefit in this country if American businesses used different financial criteria for rating clients and customers than just a credit score based on debt levels.

Get smart about credit, today - avoid it at all costs!

The importance of insurance in a healthy financial plan

Last week in my post on the 14 Major Components of a Health Financial Plan, five of the fourteen components deal with important insurance products to have in place.

These various insurance products are important to protect your family finances against unexpected catastrophes such as death, medical problems, disability, car accidents, natural disasters, ID theft, and the need for long-term care. It's all about putting a hedge of protection around your money, major assets, and ability to earn money.

In review, here are the five insurance products to have in place as an important part to a healthy financial plan:

1. Life Insurance. This is critically important for young families in case of the accidental death of the primary income earner. The primary income earner of the family should carry a term life policy equal to at least 8-10 times their annual income for 15-20 years. A stay at home mom should carry a term policy as well in case of her own accidental death. The father will need the money in order to provide childcare resources so that he can keep working and providing for his children.
2. Health Insurance. If you don't have health insurance through your workplace, you need to seek out a good plan that you can purchase, independently. Yes, health insurance is expensive, but if you have a major medical emergency in your family, you will end up financially bankrupt! Unpaid medical bills are the leading cause of personal bankruptcy in the United States. Don't become a statistic.
3. Disability Insurance. According to the May 2000 Norton Bankruptcy Adviser, 326,441 families that filed for bankruptcy protection in 1999 identified an illness or injury in their family as the major reason for the bankruptcy. That means 1 in 4 debtors in 1999 were attributed to a disability. Still not concerned? According to the US Housing and Home Finance Agency only 3% of home mortgage foreclosures are due to a death of the breadwinner. 48% of all foreclosures are due to a disability. So what do you think is more important during your working years, life or disability insurance? Disability insurance truly is a foundation product, it is the foundation of any solid financial plan [Source: About-disability-insurance.com].
4. Auto Insurance. If you own a vehicle, you must have auto insurance in order to legally operate it. Take this week to review your policy and make sure that you have the proper coverage. Also, if you're not happy with your current rates, go online and make a few phone calls to see if you can get a better deal.
5. Homeowner's or Renter's Insurance. Fires, tornadoes, floods, and theft strike without warning. Be sure you have the proper coverage to replace your home and belongings.

Here are a few more important insurance considerations:

1. Emergency Funds. Having 3 - 6 months of expense money in savings is not for investing. Having this liquid cash is self-insurance. When a major emergency comes along, you have the cash reserve to pull you through instead of going into debt.
2. ID Theft Protection. Identification theft is a major, growing problem, that can cause you long term financial problems. A number of companies have developed over the last few years that offer excellent services at a very low cost. Dave Ramsey recommends Identity Theft Protection through Zander Insurance. The family plan is only $12.50/month. This is a no-brainer for me.
3. Long-term Care Insurance. The life-expectancy rate continues to climb. People are living longer. Major medical advancements can keep people alive for long periods of time. The only problem is that many times, quality of life is called into question because these people need to enter long term care and pay thousands of dollars a month or be cared for at home by family members. Long-term insurance will help protect your finances at the end of your life. Because of cost analysis, it's not worth purchasing this insurance until age 60.

Organizing your financial planning documents

Now that you are hard at work this week getting your personal financial planning together, you may be wondering what documents you should gather together and where you should store them.

Where should I store my financial planning documents?

Before you gather all of your documents, you need to have a safe place to store those documents. Some people like to use bank safe deposit boxes. I personally like a fireproof safe to store my documents. I can keep it on site where it is more easily accessible to me. Wherever you keep your documents, be sure to inform trusted family members of how they can access them if needed.

What financial planning documents should I store in safe place?

Here's a listing of important documents that you need to put together and store in a safe place:

1. Birth, death, and marriage certificates
   
2. Divorce and child custody papers
   
3. Adoption papers
   
4. Passports
   
5. Military records
   
6. Social Security cards
   
7. Copies of drivers’ licenses
   
8. Mortgage/property deeds
   
9. Stock and bond certificates
   
10. Car titles
    
11. List of insurance policies (life, health, disability, long-term care, auto, homeowners, renters), including the type, company, policy number, and name of insured. You can even keep the original copies of these policies in your safe if you have enough space.
    
12. Copies of power of attorney, living will, and other medical power
    
13. Trust documents
    

What do you need to accomplish today in order to get your financial planning documents organized?

Have you even graduated to training wheels in your giving?

The Flow of Money

In Monday's post on the 14 Major Components of a Healthy Financial Plan, I mentioned that charitable giving is important to a healthy financial plan.

You know, money is a lot like the flow of water. Water that is in constant motion is typically clean, fresh, and healthy. The Dead Sea is a great example of what happens to water when its movement stops at one place. It becomes stagnant. Its life giving properties cease to exist.

Money flows all around us each and every day. Money is important to our everyday existence. It provides us the means in order to live and work - food, shelter, clothing, and transportation. In today's financial system, many people (especially Christians) run into problems when they allow the flow of money into their lives but never allow any of it to flow back out. They become self-absorbed, self-centered, selfish, and greedy. Spiritually speaking, these people start to "stink."

The Training Wheels of Giving

I recently heard a Generous Giving seminar in which the guest speaker spoke about the training wheels of giving. His claim was that tithing (10%) was just the beginning point of all giving. It's the training ground for us to become more mature in our attitude of generosity. I think this is a great analogy as we consider how we can become more generous in our giving back to God and others.

Ten Ways to Give Above the Tithe

Consider the following 10 Ways we can shed our giving "training wheels" and become more mature in our generosity and walk with Christ:

1. Increase your tithe by 1% each year. Rick and Kay Warren have a great testimony in which early on in their marriage, they decided to step out on faith and increase their own personal giving 1% each year. So, even before the Warren's became millionaires through the popularity of his book The Purpose Driven Life, they were probably giving in the range of at least 35% of their income! In fact, Pastor Rick attributes God's blessing on his book to the fact that he and his wife have been generous givers.
2. Reverse tithing. Reverse tithing is simply giving away 90% of your income and living on 10%. Obviously, it takes a certain amount of wealth and income in order to pull this off. For Rick and Kay Warren, once God had blessed them with millions of dollars in book sales, they purposed to maintain their standard of living and move to reverse tithing. What an awesome testimony!
3. Special offerings. If your church asks you to consider giving to specific, stand alone, special offerings, ask the Lord what you should give.
4. Capital Campaigns. Many churches will begin regular special offerings on top of regular budget/tithe giving in order to raise cash to begin a building project or pay off debt. These campaigns are a great way for God to stretch your faith and build up your giving muscles!
5. Assets. The largest supply of untapped financial resources in our economy is held within our assets - retirement accounts, businesses, vehicles, houses, property, and so on. You can sell off these assets yourself and give the money, or use a service such as the iDonate Foundation, Inc.
6. Estate planning. You can leave the ultimate legacy of giving and Kingdom building by leaving large financial gifts to your church and other charities upon your death.
7. Regular giving to the poor. Throughout God's Word, we find references to the poor and our duty as believers to take care of them through our financial gifts.
8. On the spot giving. I've become a big fan of this type of giving. When someone stops you on the street for some money for food, give them some money or food. When charitable organizations are camped out in front of the grocery store on Saturday mornings, place a buck or two in the box. This can also be a great learning opportunity for your children. Take advantage of these simple moments.
9. Time. Time has its own unique value that can be hoarded or given away. The old saying goes that "time is money," but you can't necessarily substitute one for the other. I think that many believers desire to give financially but think they can't due to an overextended lifestyle. They will turn to giving their time in place of money. You need to do both. Time can be given away to your church and other charitable organizations in which you believe in.
10. Talents. Similar to time, talents hold value as well. God has blessed us all with natural talents and abilities that He wants us to give back to Him to build up the Kingdom of God. What talents and abilities do you possess that could be used for Kingdom purposes?

Where are you right now? Have you even put on your giving training wheels, yet? Or, have you shed your training wheels and moved to a higher place in your giving?

National Financial Planning Week | October 5-11

If anyone does not provide for his relatives, and especially for his immediate family, he has denied the faith and is worse than an unbeliever. (1 Timothy 5:8, NIV)

"His master replied, 'Well done, good and faithful servant! You have been faithful with a few things; I will put you in charge of many things. Come and share your master's happiness!' (Matthew 25:23)

October 5-11 has been declared National Financial Planning Week. So, for this week, I'll be focusing my posts on stewardship and financial planning.

Of all people, those of us that claim the name of Christ need to have a solid financial plan in place in order to be excellent managers of the finances God has provided for us. It's really His money anyway, right?

In Financial Peace University, Dave Ramsey lays out one of the best beginning financial planning forms that I have seen to date. Here's a breakdown of the details on this form:

14 Major Components of a Healthy Financial Plan

1. Written Cash Flow Plan. This is the dreaded "B" word - budget. You need to have a detailed written, monthly cash flow plan in order to get the most leverage out of the money the Lord has provided for you and your family. This is the beginning of good, Godly, Biblical stewardship. Both spouses need to be in unity on this plan in order for it to work. Be sure to spit-shake and pinky-swear that you will stick with your budget!
2. Charitable Giving. In order to be financially healthy, you need to release your grip on money and give some of it away. The starting point for Biblically-based charitable giving is tithing to your church on a regular basis. A tithe is simply 10% of your income. If you are not currently giving at least a tithe to your church, develop a plan to reach 10% as soon as possible. Remember this: Whoever sows sparingly will also reap sparingly, and whoever sows generously will also reap generously. Each man should give what he has decided in his heart to give, not reluctantly or under compulsion, for God loves a cheerful giver. And God is able to make all grace abound to you, so that in all things at all times, having all that you need, you will abound in every good work. (2 Corinthians 9:6-8, NIV)
3. Will and/or Estate Plan. You need a will. You don't want the state deciding what will happen with your assets. If you have a young family, you definitely don't want the state deciding who is going to get your children if both you and your spouse pass away, unexpectedly. If you are older, you want to be sure that your money and assets are legally directed to the institutions and people you desire to receive them when you pass away: your church, other charities, and your family. You can purchase legal forms online or consult an attorney. Be sure your will is state specific.
4. Debt Reduction Plan. If you're in debt, it's time to formulate a strategy to get out! Debt is bad for a healthy financial plan. A detailed cash flow plan, the envelope system, and the debt snowball method are great tools to enable you to get out of debt as quickly as possible.
5. Tax Reduction Plan. If you're young, stay on top of the political landscape and vote for candidates and policies that keep taxes low. If God has blessed you with wealth and/or you are an older adult, you need to consult an attorney for specific legal strategies to avoid costly taxes on your overall estate plan. "Render unto Caesar what is Caesar's," but not anymore than you legally need to pay!
6. Emergency Funding. A fully-funded emergency fund is equal to 3-6 months of family expenses. While you are working your debt snowball, keep a baby emergency fund of $1,000 in savings. Once you you're out of debt, save up to 3-6 months worth of expense cash into a money market account. It's important to keep your emergency fund fully liquid.
7. Retirement Funding. Once you are debt free and have a fully-funded emergency fund, it's time to start investing 10-15% of your income into your 401(k), 403(b), and/or Roth IRA. Be sure to consult your HR department at work regarding employee matching programs.
8. College Funding. Once your retirement funding is underway, you need to start college savings if you have school-age children. 529 college savings plans are a good place to start. You should consult with a competent financial planner before you begin.
9. Teach My Children. If you have children at home, you need to start educating them to be wise money managers. Both Dave Ramsey and Crown Financial Ministries have some great resources to get you started!
10. Life Insurance. This is critically important for young families in case of the accidental death of the primary income earner. The primary income earner of the family should carry a term life policy equal to at least 8-10 times their annual income for 15-20 years. A stay at home mom should carry a term policy as well in case of her own accidental death. The father will need the money in order to provide childcare resources so that he can keep working and providing for his children.
11. Health Insurance. If you don't have health insurance through your workplace, you need to seek out a good plan that you can purchase, independently. Yes, health insurance is expensive, but if you have a major medical emergency in your family, you will end up financially bankrupt! Unpaid medical bills are the leading cause of personal bankruptcy in the United States. Don't become a statistic.
12. Disability Insurance. According to the May 2000 Norton Bankruptcy Adviser, 326,441 families that filed for bankruptcy protection in 1999 identified an illness or injury in their family as the major reason for the bankruptcy. That means 1 in 4 debtors in 1999 were attributed to a disability. Still not concerned? According to the US Housing and Home Finance Agency only 3% of home mortgage foreclosures are due to a death of the breadwinner. 48% of all foreclosures are due to a disability. So what do you think is more important during your working years, life or disability insurance? Disability insurance truly is a foundation product, it is the foundation of any solid financial plan [Source: About-disability-insurance.com].
13. Auto Insurance. If you own a vehicle, you must have auto insurance in order to legal operate it. Take this week to review your policy and make sure that you have the proper coverage. Also, if you're not happy with your current rates, go online and make a few phone calls to see if you can get a better deal.
14. Homeowner's or Renter's Insurance. Fires, tornadoes, floods, and theft strike without warning. Be sure you have the proper coverage to replace your home and belongings.

This is a handy checklist to make sure you are being a wise money manager and provider for your family. Refer to it regularly and be sure that you have things happening in each of these areas.

What financial planning do you need to take care of during National Financial Planning Week?

Take a Financial Health Day! - Part 2

Today, I wanted to post a quick update to my previous Take a Financial Health Day post over a week and a half ago.

This morning, I took about 3 hours to finish up some final details on my Financial Health Day which included:

1. Official submission to large national bank to close down 2 bank accounts that were costing me money to keep open. Money saved with this action: $167.40/year!
2. Submission for payment on health care cafeteria plan. Money reimbursed to me this month: $108.00!
3. Called my cable/internet company asking for a lower bundled rate. I told them that for the simple services I was currently receiving, I was paying way too much. My rate went from $98.91/month down to $77.13/month for a 15 month rate guarantee. Money saved with this action: $326.70 for the next 15 months!

With just a little bit of work this morning and paying attention to my bills and budget, I was able to essentially make $602.10. This breaks down to making $200.70 per hour! Do you make that much money at your job?

Lesson learned: Pay attention to the money God has provided for you and take care of business on a regular basis.

Have you ever taken a financial health day and what were your results? Leave me a comment. I'd love to hear your story.

The Psychology of Winning | 10 Characteristics of Winners

Brothers, I do not consider myself yet to have taken hold of it. But one thing I do: Forgetting what is behind and straining toward what is ahead, I press on toward the goal to win the prize for which God has called me heavenward in Christ Jesus. All of us who are mature should take such a view of things. And if on some point you think differently, that too God will make clear to you. (Philippians 3:13-15)

It's not whether you get knocked down; it's whether you get up. - Vince Lombardi

Different Types of People

Robert Kiyosaki, author of Rich Dad, Poor Dad, often mentions four types of people in the world:

1. People who must win (such as entrepreneurs, businessmen, etc.).
2. People who must be right (such as attorneys and other specialists).
3. People who must be comfortable.
4. People who must be liked or popular.

See Robert's video on The Psychology of Winning.

Winners are definitely wired differently than the other three types of people. There is a certain psychology of winning.

Characteristics of a Winner

The following is a list of defining characteristics of a winner. A winner is:

1. a constant learner. They read books. They attend seminars. They research online. They talk to people. They know that they don't know it all, but they can gather the information from other sources in order to get where they want to go.
2. one who takes immediate action. Once a winner has gathered the information they need, they take immediate action on that information. They don't procrastinate. They don't let any grass grow under their feet. They get on with it and do something. They are proactive.
3. one who engages in persistent testing. As they take action on the information they have gathered, they monitor and test their progress. If their action is not accomplishing the desired results, they will move in a different direction and then test those results. They are extremely systematic in their approach to accomplish more.
4. someone who gives 100% of their effort. They are intelligent risk takers and lay it all on the line. They are passionate about what they do and what they contribute.
5. someone who sets high goals. Winners know the importance of goal-setting and what it will take to accomplish their goals.
6. disciplined. Winners have a lot of self-discipline. They don't need to be supervised. They are well-planned. They know how to structure their day. They know how to take care of details, yet have a good view of the big picture.
7. someone who has a pleasing attitude and personality. This doesn't mean that they are push overs. They are flexible and not rigid. They have a teachable spirit and are open to changing their opinion in light of the facts.
8. enthusiastic. Winners are energetic and optimistic. They enjoy what they do and bubble over with enthusiasm. This enthusiasm is contagious and draws people to synergy and cooperation.
9. in control of their emotions. This is difficult. We live in a culture where decision making is often made on strong emotions. Winners seem to understand the importance of keeping their emotions in check and base their decisions on reason, strong research, and facts.
10. focused on their strengths. They minimize their weaknesses and limitations. They focus on fully developing their strengths. They don't worry about being perfect. They are concerned more with efficiency and being at their fullest personal potential.

Thoughts on Winning and the Christian Life

Rich Christians have a winning mindset, but they must constantly filter their winning attitude through:

1. their relationship with God. It's only through a deep walk with Christ in which we uncover what His plans are for our lives. Winning is great, but are we winning in the areas God has called us to? God's Word, prayer, and Biblically based counsel are essential in discovering His will for our lives. Once we know what His will is (God's Big Idea for our lives), then it's time to apply the psychology of a winner.
2. evaluating their winning activities through Kingdom eyes. In Matthew 6:33, Christ tells His followers to seek first His Kingdom and His righteousness. Is what we are currently engaged in building our own kingdom or His Kingdom? This can be a difficult question to answer at times.

What type of person are you? Are you a person who needs to be right, popular, or comfortable? Are you pursuing God's Big Idea for your life with a winning attitude?