JW’s Financial Coaching Podcast JW’s Financial Coaching Podcast-A show devoted to answering your personal financial questions and covering current events in personal finance. Giving people a new perspective on their money!

May 1, 2017  
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  • Three signs that you are worshiping at the altar of money
  • Why the worship of money is not a physical worship
  • How we can worship money no matter what our financial situation is
  • Money just makes us more of what we already are
  • Quote of the lesson from Andrew Carnegie

On today’s lesson we go into the topic of money worshiping. Now more than likely you aren’t sitting in your home each night and physically worshiping money. But there are thoughts and actions we do with money that lead to an unhealthy relationship with our money.

Now the thing with worshiping money is that this isn’t thing that only the wealthy of filthy rich can do. You can still worship money if you are struggling financially. Now worshiping money will look different to each person and there are many signs that you might be worshiping money. But below are three of the main reasons:

  1. You are afraid of losing money

No one I know enjoys losing money, so this should probably be better worded by saying you are obsessed with the possibility of losing money. We’re not talking about losing a $20 bill out of your pocket, but I’m talking about looking at your online ticker when the stock market drops or if certain geo-political events are occurring it keeps you up at night.

Also do you have a fear of living at a certain level or lifestyle? Are you saving or investing money to reach a certain goal? Or is it because you feel you will never have enough saved? If so it might be a sign you are putting too much trust in your money

  1. You are stingy with it

Take a look at your checkbook. Are you able to spend money and not worry about it? Can you enjoy the fruits of your labor? Now spending is all about ratios depending on a variety of factors including your goals, income, and debt load. But if you can’t enjoy spending *some* of your money on yourself there might be an issue.

 

Are you able to give money to charities and other noble causes? If you can’t and you have to see money leave your account that might be a sign you are worshiping money. Because if you’ll never have enough saved if you can’t enjoy spending and give some of it as well.

  1. You constantly think about it

What are you thinking about when you think about money? Do you think about having money so you can do all kinds of enjoyable things with it? Do you imagine what it would be like to have money? Do you dream of the power and “easiness” of life that you would have if you had more money? Do you think about money all the time?

I teach about money, but I don’t think about money all the time. Now granted there are some points in your life where you are thinking about money a lot more than others. But overall if money captures our thoughts, it might be a sign that you are worshiping money.

 

Now with that being said, I’m not saying that you shouldn’t be thinking about money at all. If you have a plan, you need to know where your money is going. Having a plan, budget, and goal with money is *NOT* worshiping money.

But if the thought of losing it, being stingy with it, or obsessively thinking about it is a constant in your life. You might have an issue of how much of an impact money has on your life. Granted money is nice, but it is not the be all, end all. It’s not a magic pill, and having more of it doesn’t guarantee anything in life. Money just make us more of what we already are already.

Other Resources mentioned in the show

To send in your questions email me at Jon@JWFinancialCoaching.com

Today's quote of the lesson is brought to you by Audible.com

“There is no idol more debasing than the worship of money” ~ Andrew Carnegie

Enjoyed this lesson? If so, please consider taking a few minutes to leave a review of the show either in Stitcher SmartRadio, or iTunes. For a step by step video of how that works, please watch this video on how to leave a review in iTunes.

You can subscribe to future podcasts through Stitcher SmartRadio or iTunes, Google Play or by downloading the iPhone app. Or you may listen to the podcast on the JW's Financial Coaching Facebook Fan page.

00:0000:00
  • Are bi-weekly mortgage programs worth it?
  • Why you don't need to pay a fee to have your mortgage paid off sooner
  • Getting your spouses head out from the sand when it comes to money
  • Why it is important to focus on the why and less on the what
  • Quote of the lesson from Charles A. Jaffe

 

Today we answer a few more questions from that you had for the show. Like the last time we did this in lesson #136, I always appreciate answering your questions on the show.

Question #1

What are your thoughts on biweekly payments on mortgages? I think it will be good for budgeting but have heard many negative things against it.

In short I love the concept of paying off your mortgage early and paying extra on it each month will definitely help it. But I’m against paying a fee to make that happen, especially when it is pretty easy to do it yourself.

A biweekly plan is where your bank has a program that does auto withdrawal from your account every two weeks, instead of once a month.

So if your payment is $1,000 a month, it is going to withdrawal $500 from your account every two weeks. Over the course of a year this equals to making 26 half payments (52/2) or 13 full payments. So basically you are making an extra payment once a year.

This will equate to paying off your mortgage a lot sooner, sometimes up to six years sooner. It does help with budgeting because you know that every two weeks your half payment is going to be sent to the bank.

The thing is that a lot of banks that do this charge a fee for this service. I’m not against paying fees if it helps me reach my goals. However I am against paying fees for things I can do easily myself and bi weekly payment programs are something you can easily do yourself and save the fee.

To make an extra payment a year, simply divide your monthly payment by 12. Take that number and add it to your monthly payment. If you are on a budget this is a simple thing to do, because you have control over your spending. Also over time you’ll start to add more additional money to your payment and pay off your mortgage sooner.

Now I wouldn’t pay extra on my mortgage until I was completely clear of any other debt and have an emergency fund. I want you to pay off your mortgage as much as anyone, but I don’t you to pay needless fees to accomplish that.

Question #2

How does one inspire their spouse to get their head out of the sand and begin to study money?

The age old question-how to get your spouse on board. This topic has been covered before on the show, most recently in lesson #137 but I’m always glad to cover this topic again. Because if you and your spouse agree on your spending, you’ve essential agreed on your life.

The first thing I would try to do is to attempt to answer the questions why do they have their head in the sand? Now this is probably going to take a few conversations to accomplish, but why don’t they want to participate in the finances?

Is it because of a previous bad experience with money? Perhaps a divorce from a previous marriage and/or a bankruptcy?

Is it because they are overwhelmed with your current financial situation? Are they so worried about the debt or lack of savings that they don’t want to think about it?

Or is it because they don’t consider themselves a math person or good with money? Well the good news is that few people are, and it’s something you just need to work on.

But take some time first and instead of hitting them over the head on why you need to work together, focus on their insecurities and why they want to put their head in the sand in the first place. After determining the cause of that then you can attempt to have the other conversations necessary.

The other thing to help with your spouse is to focus less on the what, and more on the why you want to work together.

Share why working together is important to you. Sometimes we can focus so much on the what, getting on a budget, reducing our spending, working extra, selling some of our possessions, etc. But we forget to mention the why a lot of times, and all they heard is the what and how it is going to impact them and they turn off real quick.

Instead share why you want to learn about money together. Is it for your future? Your children? Are you just tired of living the same old life over and over again?

These should be serious discussions, not during a commercial break while you are watching your favorite show or at the dinner table when the kids are running around.

But offer to work together so that you are both on board. This may be reading a personal finance book together, or listening to a podcast, taking a class, and eventually the big one, doing a budget together.

So instead of focusing on the what to do, first take the time to see why your spouse feels about money the way they do and share more of why this is important to you in the first place.

Other resources related to today's lesson

To send in your questions email me at Jon@JWFinancialCoaching.com

Today's quote of the lesson is brought to you by the JW's Financial Coaching Newsletter

“It’s not your salary that makes you rich, it’s your spending habits” ~ Charles A. Jaffe

Enjoyed this lesson? If so, please consider taking a few minutes to leave a review of the show either in Stitcher SmartRadio, or iTunes. For a step by step video of how that works, please watch this video on how to leave a review in iTunes.

You can subscribe to future podcasts through Stitcher SmartRadio or iTunes, Google Play or by downloading the iPhone app. Or you may listen to the podcast on the JW's Financial Coaching Facebook Fan page.

 

April 2, 2017  
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  • What are some small things we can do to have a big impact on our finances
  • Why physical de-cluttering saves us money
  • How much of a refund are you receiving this year?
  • Are you diversified enough
  • Quote of the lesson from Charisse Ward

 

 

 

 

 

Personally, I don’t know about you, but spring cleaning is one of those things that I know I need to do every year and that I will be glad I did once it is over. But in the end I procrastinate doing it and usually don’t get around to doing it.

Truth be told we do similar things our finances. There are some small stuff that we know we should do each year, not major things. But in the end we don’t do them or push them off until when we’ll have “more time”.

Since it is that time of the year to do actual spring cleaning, I thought it would be fun to discuss four things that come to mind when I think about doing spring cleaning with our finances

1. De-Clutter

Yes it can help our finances to do some actual, physical spring cleaning. I’m amazed at how demotivating clutter can be for us.  Currently we have three children under six so I know how it happens. You clean up your house and like 10 minutes later it somehow looks worse than when you originally started. So instead you just put stuff into our “get to later pile” and we never get around to it.

But it is good to take a weekend every once in a while to put stuff away where it belongs or actually to get rid of the unwanted stuff. The benefits are we get to make some money. By selling or donating things off of Craigslist, having a garage sale, or donating toys or clothes to charities.

De-cluttering can also help us by stopping the need to spend money in the future. How much we spend each year on a storage unit or storage bins to use in our home? How much are we paying to store that 3rd car we hardly use or to storage the boat we take out once in a while?

It also helps our energy to give stuff to people who will use it a lot more than we will. In addition to helping our creative energy by simply eliminating the stuff in our lives.

2. Life Insurance

Life insurance is never a fun topic to discuss. But now is as good of a time as ever to review your life insurance needs and current coverage and determine if you need to add or eliminate certain types of coverage.

When it comes to life insurance you need to remember why you need it in the first place. Life insurance is needed if someone depends on you financially. This often is a spouse or if you have children still at home. Also if you aren’t independently wealthy there is a good chance you need some kind of life insurance in place.

You don’t need life insurance as a way to invest for retirement or your children’s education. You also don’t it if you don’t have anyone who depends on your financially for their support. You also may not need it if you are independently wealthy.

As for how much coverage you need, well a good place to start is 10x your income. Some might need more or some might need less depending on your situation. But I would only recommend purchasing term life insurance, as hopefully there will be a point in your life where you get to a point when you won’t need life insurance any longer.

3. Taxes

You know with it being April I had to sneak in a section about taxes. Are you getting a huge refund this year? Do you need to adjust your W-2? The W-2 is where you claim how many dependents you expect to claim on your taxes and that determines how much money is withheld from you paycheck each month. The more dependents you claim, the less $$ is withheld.

The thing is that you don’t need to match the real number of dependents you actually claim. For example we have five dependents in our home that we claim each year on taxes. I claim 20 on my employer paycheck . . . . and we still got a $800 refund for 2016’s taxes.

Now everyone’s situation is different and please consult a tax professional for specific advice in your situation. But I see so many people struggling to make their minimum payments each month but they are still getting a big refund each April. Instead have that amount come to you in your paycheck throughout the year so you can manage it better and not get in the predicament in the first place.

4.) Investments

Investment are not a fun thing for us to do. But take a hour or two and look at what your investments are and how they are performing. You’ll also want to check your fees that you are paying on your investment to see if they aren’t too high relative to their performance.

You’ll also want to see if you are contributing enough. I recommend after you are debt free to work towards contributing 15% of your pay into investing for retirement. If you don’t like to do this stuff on your own or you feel that it is intimidating than I would recommend working with a professional to help teach you the basics and get you comfortable with investing.

Again these are four small things to do and there are other similar smaller things that you can do as well. They aren’t going to be earth shattering moves like starting an emergency fund or becoming debt free, but they will help your finances and you’ll be glad you did them once they are completed. I recommend just taking one of these a week and try to accomplish the task.

 

Today's quote of the lesson is brought to you by the JW's Financial Coaching Newsletter

“Clutter causes stress, and clutter is one of the main barriers of productivity” ~ Charisse Ward

Enjoyed this lesson? If so, please consider taking a few minutes to leave a review of the show either in Stitcher SmartRadio, or iTunes. For a step by step video of how that works, please watch this video on how to leave a review in iTunes.

You can subscribe to future podcasts through Stitcher SmartRadio or iTunes, Google Play or by downloading the iPhone app. Or you may listen to the podcast on the JW's Financial Coaching Facebook Fan page.

March 20, 2017  
00:0000:00
  • Continuing our series on lessons learned from coaching clients
  • What happens when we attempt to do several things at once with our money
  • The power of focus with our money
  • Why I love the Baby Steps so much
  • Quote of the lesson from George Horrace Latimer

 

 

 

 

 

 

The Problem

When it comes to the way we handle our money most of us are trying to manage it the best way we know how. I rarely run into someone who is just flying by the seat of their pants when it comes to how they handle money.

However a lot of us are trying really hard but feel stuck in our current situation. That leads to feelings of frustration, embarrassment, and shame that we can’t figure this whole money thing out.

The Cause

Now there is no one size fits all solution to everyone’s problem. But I have noticed that a lot of times we feel stuck with our finances because we’re trying to do ten different things at once. That is the reason why we feel stuck and hopeless.

Some common examples of the many things we are trying to do include

Now after going through the list, you’ll notice those are all good things to be doing! In fact I encourage you to do all of those things. But it is really hard to do all of those simultaneously and impossible to get all of those done at once.

That’s because money is finite. It’s hard to get traction when you are doing a little bit here and little bit there. You never see any wins or improvement and getting wins is a big key in getting the momentum necessary to keep going.

It also leads to not being very consistent with your money as you are constantly jumping from one money fire to the next. This easily leads to you becoming derailed in the pursuit of your goal.

The Solution

Rather than do ten things at once, I coach people to step back and reflect on what's truly important in the moment and focus all your attention on that one thing.

By focusing on one thing at a time you are going to see improvement in that area right away. That will keep you motivated to continue to pursue it. It will also lesson the time you are actually doing that goal and soon you’ll be able to move on to the next item on your list.

There is an incredible power to having your money focus solely on one or two main goals. We often think slowing down and doing just one thing at time doesn’t help out. But there is actually a multiplier effect when a singular focus is present.

Baby Steps

That’s why I love the baby steps so much. It sets clear guidelines on what to focus on and in what order. In case you aren’t familiar with the baby steps here they are in order.

  1. Save $1,000 in an emergency fund
  2. Pay off all your non-mortgage debt using the debt snowball method
  3. Save 3-6 months’ worth of expenses in an emergency fund
  4. Begin to invest 15% of your income into retirement
  5. Save for your children’s education fund
  6. Pay off your mortgage
  7. Build Wealth

You start with saving $1,000 as your first goal. You don’t do anything else with any extra cash. You don’t pay any extra on your debt, you don’t invest, and you don’t go on vacation. You save $1,000.

Then you pay off your debt, one at a time. You don’t still don’t invest, go on vacation, or save up a down payment on a home. You put all your extra money on your smallest debt. Then the next smallest debt, and on down the line until you are debt free.

Now are you going to be doing just one thing with your money for the rest of your life? No, eventually once you are debt free and have an emergency fund that is when you can do things like invest in your retirement, save for your children’s education, and travel.

We have good intentions when we try to do 10 different things at once, we really do. But that is not the way to get control of your money. It’s a good way to get frustrated and become frustrated.

Today's quote of the lesson is brought to you by the JW's Financial Coaching Newsletter

“He who buys what he does not need, steals from himself" ~George Horrace Latimer

Enjoyed this lesson? If so, please consider taking a few minutes to leave a review of the show either in Stitcher SmartRadio, or iTunes. For a step by step video of how that works, please watch this video on how to leave a review in iTunes.

You can subscribe to future podcasts through Stitcher SmartRadio or iTunes, Google Play or by downloading the iPhone app. Or you may listen to the podcast on the JW's Financial Coaching Facebook Fan page.

March 5, 2017  
00:0000:00
  • Continuing our series on lessons learned from coaching
  • When to cut out retirement savings
  • What to do with the money instead
  • Why the key word is TEMPORARILY
  • Quote of the lesson from Mark Twain

 

 

 

 

 

Every time I suggest it to a client, I get a weird look from across the table or there is an awkward pause on the other end of the phone line.

Them-You want me to cut back on retirement?

Me-Yes I do

Them-But what about my age? The match? Compound Interest?

Me-Don’t worry it is only temporary and you’ll more than make up the lost interest gained, match, and contributions in no time.

Today’s lesson in the lessons learned while coaching series is about cutting  back on retirement temporarily to reach goals. This lesson is a little different than the first two in the series because investing for your retirement is a good thing. That is why I get weird looks from people when I suggest that they do it.

Now I don’t recommend you do it 100% of the time, but on certain occasions I do push the suspension of retirement contributions issue.

When?

Typically the only reason why I would temporarily postpone retirement savings is when you have a special financial goal you want to accomplish and you are going to be super focuses on completing that goal.

Basically the money must be used for good, not for life style inflation, self-indulgence, or making yourself look good. It’s when you are going to use every dollars not put into investing and instead put it towards you goal.

With that being laid only, I recommend that when you have debt (excluding your mortgage), to halt any retirement contributions and instead put that money towards your debt.

That is regardless of how much your employer matches, how old/young you are, or if the market is hot or not.

Why?

With that being said I still get funny looks and comments like “You mean stop ALL retirement savings?” Which my answer is yes.

It’s a tough thing to do because we’ve been told that we need to save diligently to have enough money for retirement and that in our country a lot of us are under prepared in that area. Also by stopping retirement you’ll lose out on the power of compound interest and you’ll also miss out on the match.

While I can’t argue any of those points, because they are true, I can try to shift the focus a big. I do believe that the power of being out of debt supersedes retirement contributions.
What I’ve found is that by being focused on one singular task you are able to get that task done better and faster than if you are trying to do three other things at once.

Also by getting control of your money and paying off your debt you’ll more than make up for the temporarily loss of compound interest and the company match by having more money to invest in the long run.

My recommendations

I look at this as a two year thing. Often if you are super focused and intense on paying off your debt, you can become debt free or close to being debt free in two years.

So if you stop funding your retirement and take ALL that money and put it towards your debt, not using that money for lifestyle you will gain control of your income.
Now with that being said you need to be serious about it. If you are ‘kind of” going to get out of debt, then it probably isn’t worth it.

But what if you have a ton of student like student loans and it is going to take your longer than two years. Would you still recommend holding off on retirement savings? The answer is yes, I would give it two years and see where that takes you. If you are still a long ways off then I might consider starting contributing to retirement to get the company match. But no more than that.

Bottom line is that investing is important, but so is being debt free.

Other resources mentioned in the show:

Today's quote of the lesson is brought to you by the JW's Financial Coaching Newsletter

“The secret of getting ahead is getting started". ~ Mark Twain

Enjoyed this lesson? If so, please consider taking a few minutes to leave a review of the show either in Stitcher SmartRadio, or iTunes. For a step by step video of how that works, please watch this video on how to leave a review in iTunes.

You can subscribe to future podcasts through Stitcher SmartRadio or iTunes, Google Play or by downloading the iPhone app. Or you may listen to the podcast on the JW's Financial Coaching Facebook Fan page.

February 27, 2017  
00:0000:00
  • Continuing our series on lessons learned from coaching
  • Learning the impact of what debt does to our life
  • The normalization of debt in our culture
  • Actions to take the realize the impact of debt on our life
  • Quote of the lesson from Publilius Syrus

Part of the job of a coach or mentor is the ability to shed light on an area or issue that needs to be improved upon.

The Impact of Debt on our Lives

One of the common areas I get to shed light on when I’m coaching with clients is the impact of debt on that individual or families life.

It’s very rare that I work with someone who has no debt what so ever. Often the client knows how debt is impacting their lives but that isn’t always the case 100% of the time. Sometimes I work with clients who don’t realize how much stress, negativity, and financial loss their debt is costing them.

On today’s lesson I’m going to continue with a series I started last lesson on lessons learned in coaching and today’s topic is about the impact debt has on our lives.

Part of the reason why we don’t realize how much our debt is impacting us is because debt itself has become so normalized that often we can’t imagine life without it.

The problem with that line of thinking is that if we think debt is normal, we’ll never look for ways to get out of it and instead use debt as a way of life.

How it Impacts Us

But debt does have an impact on our lives. Some more so then others and most of the time debt is negative. Debt impacts mostly through the following five ways

  1. Pre commits future income
  2. Increases the amount we have to cover for our “needs”
  3. Reduces our options
  4. We’re paying interest, not earning it
  5. Opportunity cost

Recommendations to Better Understand and Quantify the Impact

With that being said what do I recommend people do to realize the impact of debt in their life?

First I recommend you take the time and sit down and write down your down. Every single one. If you have 13 different student loans, break each one out. Then list them smallest to largest as you’ll use the debt snowball method to eventually pay them off. Often when you write down your debt you get that “ouchie” moment of realization instead of having a general idea of your debt floating around in your head.

Second, then take all your debts and add up the monthly payment amounts. Separate the mortgage debt, if you have any, from your non-mortgage debt.

Next determine how much interest you are paying a year. A good quick and dirty way it to take your latest statement from Dec of the previous year and it should list the total interest paid. If you want to be more advance, take that total and divide by 365 to determine your daily interest charge.

Finally doing the three steps above should give you a better idea of how much your debt is impacting you. You can then ask yourself the question what you could be doing instead with that money each month. It is every eye opening to see how much money is going out each month and how much interest you are paying a year and it can be a good motivational tool to pay off the debt.

Other resources mentioned on the show:

Today's quote of the lesson is brought to you by the JW's Financial Coaching Newsletter

“Debt is the slavery of the free".“ ~ Publilius Syrus

Enjoyed this lesson? If so, please consider taking a few minutes to leave a review of the show either in Stitcher SmartRadio, or iTunes. For a step by step video of how that works, please watch this video on how to leave a review in iTunes.

You can subscribe to future podcasts through Stitcher SmartRadio or iTunes, Google Play or by downloading the iPhone app. Or you may listen to the podcast on the JW's Financial Coaching Facebook Fan page.

January 24, 2017  
00:0000:00
  • In what ways debt free people think differently about money
  • The demographics of those who are debt free
  • Why giving plays a big role in those who are debt free
  • How you can help confirm my observations
  • Quote of the lesson from Wayne Dyer

 

When I first got into paying attention to my finances one of the first books I ready was the classic Millionaire Next Door by Dr. Tom Stanley. What I loved particularly about this book was the research Dr. Stanley did on real life millionaires. Not just athletes and entertainers. You really got insight into how millionaires think about earning, saving, and spending money.

Since then I’ve read other books by Tom Corley and Steve Siebold on how the wealthy think vs. the non-wealthy. Also there are books and research out there on how entrepreneurs think vs. traditional employees.

But today we are going to focus on how debt free people think. I focus on being debt free because that’s how Lisa and I live when it comes to our finances and after interviewing those who are debt free and coached with people on becoming debt free I’ve come to the realization that in general they seem to be doing better with money than most.

On today’s lesson I’m sharing some observations I have had about debt free people and how they view money. In addition I also share how I’m doing some research to help confirm these observations and how you can help.

The good news about looking at those who are debt free is that pretty much anyone can fall under that heading. You can be young or old, make a great income or make a little income, or be married or single. They can also have a lot of children but also have none. They can live in any part of the country, be of any race, ethnicity, or religion. But to me there are four main areas where debt free people think differently then those who are not.

  1. They have an idea of where there money is going
  2. They are prepared for emergencies
  3. They are continuous learners
  4. They are big givers

Debt Free people know where their money is going by having a budget they review and stick to each month. They also have financial goals and review them at least once a year to see how if they have accomplished those goals. They have a great sense of where their money is going each month which allows them to have a knowledge of how each financial decision they make impacts their finances.

They are also prepared for emergencies. Debt free people face fewer true financial emergencies because they are prepared for them to happen. If an unexpected expense does occur they simply have the money in their emergency fund to cover the cost. Know there is a chick or the egg debate on which comes first, having an emergency fund or becoming debt free, but those who are debt free very often have money in an emergency fund.

Continuous learning is also a big part of the thought process of those who are debt free. Whether it is books, podcasts, blogs or other medium, those who are debt free are always those who continue to learn in different areas of money. These areas might include thinks such as investing in stocks, investing in real estate, starting a small business, how to make more passive income, ways to cut your cable or grocery bill, better ways to budget, or how to cut expenses to pay off their mortgage sooner.

Finally giving plays a huge role in the lives of those who are debt free. They don’t become debt free just to be able to save and spend more on themselves. They do it so that they can then bless others in causes that they believe in.

There are a lot more ways that debt free people think differently about money but those are for another podcast. But those are my observations and would you be willing to help prove out these observations?

I’m currently conducting research for my next book project and want to know your thoughts on debt and money.

It’s a 9 question multiple choice survey and should take only a few minutes to complete. Please consider taking it no matter if you are debt free or not. Your opinions matter and will help validate the research either way.

The survey is 100% anonymous but depending on your answers you might be contacted for a followup survey as well which we’ll need your email for.

Please visit JWFinancialCoaching.com/Survey to participate and thank you in advance for your help. I’ll be using the research for at least a future upcoming webinar and hopefully can use the data for a new book release.

Other resources mentioned in the show:

Today's quote of the lesson is brought to you by Audible.com

“If you change the way you look at things, the things you look at change." ~ Wayne Dyer

Enjoyed this lesson? If so, please consider taking a few minutes to leave a review of the show either in Stitcher SmartRadio, or iTunes. For a step by step video of how that works, please watch this video on how to leave a review in iTunes.

You can subscribe to future podcasts through Stitcher SmartRadio or iTunes, Google Play or by downloading the iPhone app. Or you may listen to the podcast on the JW's Financial Coaching Facebook Fan page.

January 3, 2017  

Thank you for your interest in purchasing the audio version of A Tale of Two Houses-Our journey of buying a home the right way after buying one the wrong way

I’m excited to release the audio version of A Tale of Two Houses and have included 10 bonus enhancement chapters, including:

  • Renting vs. Buying
  • Is a House an Investment or a Liability?
  • Three Things to Consider Before Buying a House
  • Where to NOT Get a Down Payment From
  • Seven Creative Ways to Come Up with a Down Payment
  • Getting Ready to Sell Our House with Guest Lisa White
  • We’re In Contract! With Guest Lisa White
  • Getting Ready to Move with Guest Lisa White
  • Wrapping Up the Whole Home Buying Experience with Guest Lisa White
  • The JW’s Manifesto on Money

The total time of the book is 4 hours and 50 minutes including the bonus enhancements.

(Get it FREE on Audible with a 30-day Free Trial)

To purchase through Podbean click on the “Buy single Episode Now” button at the top of this page. After purchasing the episode you can download the episode to your computer and use it as your leisure.

Currently the price to purchase A Tale of Two through Podbean is $6.99, which is the lowest price you’ll find it.

However, if you want to purchase it through iTunes, Amazon, or Audible to use through their interface you can do so as well.

You can also get the book free by becoming a member of Audible. Visit JWFinancialCoaching.com/Audible to sign up for your 30 day free trial.

(Get it FREE on Audible with a 30-day Free Trial)

In addition you can purchase the digital copy over at Amazon or Barnes and Noble.

Thanks for purchasing a copy of A Tale of Two Houses!

December 1, 2016  
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  • Does who we hang out with impact our finances?
  • Keeping up with the Jones's is pressure we put on ourselves
  • How negative influences impact our finances
  • How positive influences impact our finances
  • Quote of the lesson from Jim Rohn

the-jws-financial-coaching-podcast_130

 

 

 

 

 

A few lesson’s back we shared how loaning money to family and friends can be a difficult situation to be in, both from a lender and borrower’s perspective. Well on today’s lesson we’re going to talk about friends and money but from a different angle.

It’s been said that you act like, earn about the same, and behave similarly to who you hang out with the most. With that being said then, do the friends we keep impact our finances?

I think we do, and they can be a powerful influence in how we make our money decisions.

The thing is though that when we talk about influences, they can be either a negative or positive influence. So this lesson is all about determining what a negative influence looks like and what a positive influence looks like.

The encouragement on today’s show it to look at your current relationships and see if they have either a positive or negative influence on your money. I don’t believe you should just cut off a relationship because it has a negative influence on your money.

However if there is a negative money influence on your life, instead of hanging out with that friend for a day at a time. You may need to hang out a hour at a time.

We also discuss how keeping up with the Jones’s is often a pressure we put on ourselves, instead of pressure put on us by friends.

Below are some Facebook groups that help propel me to good financial decisions and are a positive influence on my life

Resources mentioned in the show

Today's quote of the lesson is brought to you by Audible.com

You are the average of the five people you spend the most time with." – George Horace Lorimer

Enjoyed this lesson? If so, please consider taking a few minutes to leave a review of the show either in Stitcher SmartRadio, or iTunes. For a step by step video of how that works, please watch this video on how to leave a review in iTunes.

You can subscribe to future podcasts through Stitcher SmartRadio or iTunes, Google Play or by downloading the iPhone app. Or you may listen to the podcast on the JW's Financial Coaching Facebook Fan page.

November 13, 2016  
00:0000:00
  • The biggest inhibitor to winning with money is fear
  • How we saw this manifest in the election this week
  • How to discern between real fear and worry
  • Why fear shouldn't drive our financial decisions
  • Quote of the lesson from Zig Ziglar

the-jws-financial-coaching-podcast_128

On today’s special lesson of the show, I do an impromptu discussion on how fear is one of the biggest inhibitors of achieving financial success.

Today’s discussion was spurred on by the event’s this past week revolving around our election on Tuesday. When it became clear that Donald Trump was heading towards getting the magical 270 electoral votes needed the stock market futures, not the real stock market, dropped more than 750 points.

Of course then the next day on Wednesday the real stock market closed at an all time high. But it got me thinking to how fear drives so many of our financial decisions. Not just because of an election result but fear in our every day life.

A couple of things that we discuss today on fear and our money include

  • Stock Market
  • Credit Cards
  • Starting a budget
  • Changing careers

We’re all going to face fear at some point, it’s natural. But how do we differentiate between true fear and worrying about the worst case scenario? To me it is use judgement and test that fear. Am I afraid because I read something on Facebook or because I’ve thought it all the way through? Anytime I hear about the total collapse of _______ (Fill in the blank) I get skeptical. But I’ve realized personally that if I am doing something different to change my finances and I have some fear, the more I do that thing and get comfortable with it, the more the fear goes away.

My challenge to you today is to think about if there is any fear that you are facing that is holding you back financially?

If so why do you have the fear?

What is it preventing you from doing it?

What would be the positive result of you doing the action?

Below are resources mentioned in the show to help remove the fear from making changes with your finances:

Today's quote of the lesson is brought to you by Audible.com

F-E-A-R has two meanings: Forget Everything And Run or Face Everything And Rise. The choice is yours” ~ Zig Ziglar

Enjoyed this lesson? If so, please consider taking a few minutes to leave a review of the show either in Stitcher SmartRadio, or iTunes. For a step by step video of how that works, please watch this video on how to leave a review in iTunes.

You can subscribe to future podcasts through Stitcher SmartRadio or iTunes, Google Play or by downloading the iPhone app. Or you may listen to the podcast on the JW's Financial Coaching Facebook Fan page.

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