Teaching and coaching involve sharing knowledge on how to do certain things. In the case of personal finances we can focus on how to do a budget or how to get out of debt. But it is also important to share what not to do with your money. So today’s coaching post is devoted to what products to avoid in your financial plan. Here are 5 Financial Products That I Avoid:
As I have been monitoring the progress of both the Texas Rangers and the Houston Astros, I started to think that as the teams work on the fundamentals of the game, there are fundamental lessons from baseball’s Spring Training that we can apply to our finances. Let me share these fundamental lessons of the financial game with you:
What does it take to be successful in managing your money? Just a little over 7 years ago, our family began a life changing journey with our money. Based on the results, I feel qualified to answer that question from my own experience. The truth is that having a working budget every month is the key to winning with your money.
How do you keep fighting until you achieve victory? You need perseverance which Merriam-Webster defines as “continued effort to do or achieve something despite difficulties, failure, or opposition”. So let me give you 4 reminders that will help you persevere until you achieve financial victory:
However, before the year runs out, I wanted to give you a year end financial checklist. These actions will help you start 2013 on the right foot with your finances.
What is the role of insurance? In simple terms, insurance is the tool that is designed to protect you and your family against what might happen. When you have the right level of insurance coverage in place, you are transferring the risk to another entity (an insurance provider) and you pay a premium for that risk transfer. If you think about it, insurance works like an umbrella works when it rains. The umbrella does not stop the rain, but it keeps you from getting wet. Likewise, having the proper insurance won’t stop an event, but it will help you weather the storm and minimize the impact to your finances. So what types of insurance do you need?
Yes, you can win money. It takes determination, preparation, and execution. Choose this day to change the direction of your financial destiny.
A key element in your battle to win with money is to pay attention to all the elements of your financial picture. While I do not advocate using credit to build your FICO score, I do want to make sure you take the necessary steps to maintain a clean financial reputation. Take the time and do it today.
If you follow one of the steps between now and Friday October 26, you will be automatically entered in a drawing for a free 3 Month Financial Coaching package. You can use it for yourself, a friend, or a family member. Did I mention it’s free? Enter today!
Could you do this for yourself? Would you do it for your family? This country of ours is still the greatest country in the world. It is still the land of opportunity, the land of the free. But you have to brave. You have to be daring. You have to choose to be above average. Start today!