Financial Wellness Show - Improve the Health and Wealth of Your Money

Are you picking the RIGHT services for your wedding, ones that will help build memories and not regret? Coach Hal and I discuss spending money on the RIGHT things for a wedding, not things that don't really matter to the success of your big day (or your child's big day). For more details, including online wedding budget tools, visit http://FinancialWellnessShow.com/38

What is it like to live on a draw? Coach Carl explains how it works and how to be prepared for dry spells when a salesperson won't make enough to cover their draw on commission. For more information, visit http://financialwellnessshow.com/37

How does a house divided join forces with new spouses and new extended family members? Justin and Jessica tell their story of bringing 4 adults together for the good of their children. For an example of the spreadsheet, visit http://FinancialWellnessShow.com/36

Teens should be applying for scholarships from 9th grade through college, according to Coach Christine. In this episode she brings us a wealth of knowledge for where to find scholarships and how to win them.For more information or one-on-one coaching, visit  http://FinancialWellnessShow.com/35

Would you be better off earning interest than letting the bank hold your money? Today we speak with Financial Wellness Coach Bill to discuss: What is Escrow? Are escrow accounts mandatory? What are the advantages of having an escrow account through your mortgage lender? Is it more financially efficient to escrow my taxes and insurance than to not? Can I create an escrow account with someone other than my lender? What are the disadvantages or things we need to be aware of if we don’t hold escrow through our mortgage lender? What happens after I pay off my house? Do I still send my bank escrow money? For show notes or to work with us: http://FinancialWellnessShow.com/34

What is a TSP? Thrift Savings Plan, the Federal Government’s Retirement Plan available to Federal Employees and members of the military It consists of few options but has extremely low costs: G Fund = Government SecuritiesF Fund = Fixed IncomeC Fund = Common Stock S Fund = Small Capitalization StockI Fund = InternationalL Funds = Lifecycle Funds (adjusts automatically into safer investments based on the date you plan to retire) Coach Carl explains the benefits and differences of a TSP for U.S. Military and Federal Employees. Full show notes at http://financialwellnessshow.com/33

Coach Kim recently encountered a situation that is no longer considered uncommon: Adult children who are dependent on their parents. In this conversation he shares: The parents level of frustration with the dependency of their adult childrenAre the adult children perceptive to the realization that they are dependent upon their parentsWhose fault is it: The children’s or the parent’sHis tip to help parents say “no” to their adult children without being the bad guyWe also discuss ways to train up our young children before they leave the safety of the home. Listen for ways to make it easier to tell your adult children "no" without being the bad guy. More information, as well as our contact information, can be found at http://FinancialWellnessShow.com/32

Listen in on a real coaching conversation with Coach Christine. She is helping Coach Steve transition to the next stage: Living without a house payment!   Jump into the conversation and ask the questions you want answered http://FinancialWellnessShow.com/31 Reach out to a Financial Wellness Coach at http://FinancialWellnessShow.com/coaches  

Residential Liquidity: Everything you need to know before renting a house or apartmentwith Coach Jeremy Moving can be stressful, especially when you are moving into an apartment. There are a number of things you need to be aware of to make your move the smoothest transition possible. Things we need to know before renting a house or apartment: Weigh out the pros and cons before deciding between renting an apartment or house: Is it located near your place of work or family?What utilities are included?Will you be staying for a prolonged period of time? Tip: Ask for previous 18 month history on utility costs Of course, there are these financial considerations: Furnishings - do you need to buy curtains and can openers?How much is the security deposit?Will you have a room mate?Are room mates allowed?What is the rule on pets (and is a hamster a pet)?Are you allowed to hang pictures and plaques on the walls? We also recommend you buy renter’s insurance for your belongings. What you need to know before renting a house You will likely need more furnishingsMore repairs and maintenance will be requiredIn most cases you pay for all utilitiesDo you need to maintain the grounds? (i.e.: mow the lawn)? Renting a house can provide you with more privacy and more room, but it also comes with larger utility expenses and more responsibilities. Renting can help you maintain a level of freedom homeowners can’t experience: More flexibility to move - even to another unit in the same buildingThere are fewer expenses than an a homeowner (less space = lower utility bills)Fewer responsibilities (yard work, shoveling the driveway, etc) Action Step:Create a pros-vs-cons list of buying vs renting     To access previous episodes, research resources, or secure your own personal finance coach for the New Year, visit http://FinancialWellnessShow.com/30

To win with money you need to: Be born into a family where wealth abounds Be talented, beautiful, and live in a good neighborhood to get ahead in life Earn a 4-year degree in finance or you’ll never have financial wellness These statements, of course, are not true. One of our Financial Wellness Coaches came from a background of poverty. He knows well enough what it’s like to live on food stamps and today he shares his story of rags to riches, well - at least riches in a “no longer living paycheck-to-paycheck” kind of way. Our financial coaches are not all CFPs or have bachelor degrees. It doesn’t take higher education to achieve financial wellness. But it does take knowledge and often requires help. Contact us for a free consultation. There is no hard sale, we just want to know where you are and how we can help you. If you decide to move forward, our prices are right there on the website. Coach Connections, the parent of the Financial Wellness Show, is here to serve you. http://FinancialWellnessShow.com/coaches

Did you know the cheapest and safest insurance policy for your financial plan is not an actual insurance policy? In our previous episode we heard from Kisha. She was a listener who reached out to us for help. In just a few short months she paid off three payday loans and had money in savings. Two things I took away from her testimony: 1) She never had an emergency fund before 2) Said she never knew what an emergency fund was I take it for granted that everyone understands what the term “Emergency Fund” stands for. Kisha’s success story pointed out that we needed an episode to further discuss this very important piece of anyone’s financial plan. Today, Coach Bob joins us to define what Emergency Funds are, when they should be used and what Emergency Funds - or Emergency Savings - should not be used for. An Emergency Fund is a savings account, separate from other accounts The sole purpose of an Emergency Fund is to pay for expenses that are not in your budget   Examples of emergency expenses are: Unexpected car repair, medical deductibles, time off from work to care for ailing parents Benefits of an Emergency Fund: Not only will Emergency Funds help keep you from going back into debt, they lower stress and bring peace of mind What an Emergency Fund is not for: Emergency Funds are not investments, they are a form of insurance   We recommend two stages of saving for emergencies: Beginning Emergency Fund: A nice rule-of-thumb is to start with a $1,000 fund. It can take care of many sudden unexpected expenses. However, you can make it more if you want. We do not recommend building an emergency fund that is too big because it takes money away that can be used to eliminate debt. An exception would be if you know there will be a large expense or possible emergency (birth of a child, expected departure of a loved one, extended time off after surgery). Then we recommend saving all you can until the emergency has passed. Post consumer debt Emergency Fund: Once all debts have been paid off, other than a mortgage, we recommend building the emergency fund to equal 3 - 6 months worth of household expenses. If it takes $3,000 to run your household (the basics, not including saving for vacations or kid’s college) then we recommend an Emergency Fund of $9,000 - $18,000. That sounds like a lot, but the peace of mind you will have is priceless. Always keep your Emergency Fund full. If you need to dip into the savings then your next step is to hold off paying extra on debts or saving extra for anything other than recovering your Emergency Fund to its original level. How to fill and emergency fund: Work overtime at work (if non-exempt) Work an extra job (paint houses, yard work, 2nd job) Sell unused items on CraigsList or eBay Start a small business Teachers: Did you know you can sell your lesson plans online for extra cash? Listen to this episode http://FinancialWellnessShow.com/18 How much do you need? Your call-to-action is to set a number for your Emergency Fund, whether it’s a $1,000 beginning account or 6-months of expenses, and set aside some money for it. If you can only squeeze $20 out of your budget this month then put it in a piggy bank. Collect a few of those $20s over the next few weeks and deposit it into a savings account at the bank, an online money market account, or lock it away. The idea is to keep it away from non-emergencies, yet have access to it when you truly need it. What is your number? My number is $18,000. Coach Dave says their number is $20,000 and Coach Greg maintains an emergency fund of $30,000. However, Coach Taras, who you will hear in our next episode, says he needs a 6-month reserve of $42k! You’ll understand why in Episode 29. So, what’s your number?  

Kisha called us for help. We found the perfect coach for her, Coach Parkey, and she says without his help she would be a wreck right now. “I was drowning in debt for a very long time”“I wasn’t good at money management but wanted to get better” Kisha is now caught up on all her bills and working her plan. “I’m so grateful. I’ve paid off three pay-day loans” She didn’t understand budgeting but now plans every dollar that will be spent. Kisha also built an emergency fund, which came in handy when her car broke down. “No matter what is happening with my car, I feel no weight on my shoulders whatsoever because I have the money to take care of it.” “Truthfully, I feel more comfortable having someone keep me accountable for my actions than having to check myself.” Kisha wants to eventually own rental real estate. She placed pictures of rental real estate properties Dream Board. Now that she has been working with Coach Parkey, her dream suddenly seems more like a reality. What is on your Dream Board? Let us know at http://FinancialWellnessShow.com/27

Last year, a survey from the non-profit Employee Benefit Research Institute showed 60 percent of working-age survey respondents reported having less than $25,000 saved. The numbers are similar among retirees surveyed: 58 percent have less than $25,000 on hand, and 29 percent have less than $1,000 saved. The topic of saving for retirement certainly isn’t a new one - I remember hearing about it back when I was 20 years old - and that was more than a quarter century ago (I’ll let you do the math on my age). So I have to ask: What is the cause of so many retirement accounts being so low? The stock market Inflation Financial Education in schools I would say it's a little of all of the above, but for the most part the responsibility of financial education falls on the shoulders of us - the individual. I have to thank you for taking it upon yourselves to dial in to our show and listen to the stories of success, failure, and just plain wisdom that comes from life experiences. I’d like you to meet Coach Jim. He is a hard worker, brilliant man, the most gentle caring person you will ever meet - yet the function and purpose of a 401(k) plan wasn’t explained to him when he went to work for a big company many years ago. Whose fault was it that Jim and his wife didn’t understand the benefits - and proper use - of the 401k? It was theirs. But they also took the responsibility to solve the problem by learning how money really works, hunkering down and doing the hard work, and controlling the money from the beginning to spend. Awesome! If you’d like to learn about various investment options available to you as an individual, give our office a call. Allow us to look over your company’s benefits plan and teach you about the benefits of a 401k or Roth IRA or pension plan. Visit our group, Coach Connections, and click on “Free Consultation” to be paired up with one of our expert coaches at http://FinancialWellnessShow.com/Coaches You have more time than you think. It’s never too late to start.

We take a different look at the #1 financial concern for working Americans, Retirement. We are going to speak with one of our Financial Coaches who Is on the verge of retiring, but in a different way than most - she's doing it single. While her situation may not be the same as the one you think you’ll be in when you decide to stop working and live on your assets, we don’t know what the future holds. So if you are married, divorced, widowed, or single, I think you are going to find today’s topic - retiring single - rather enlightening and informative. To find out more about hiring a Financial Wellness Coach, schedule your free consultation here: http://FinancialWellnessShow.com/coaches

Our common language has many incorrect slang terms. One of those is "Giving back to the community". In this episode, Coach Greg turns the tables and becomes the host while Coach Steve becomes the interviewee.  Coach Greg asks what's wrong with "Giving Back"?  Find out in this episode of The Financial Wellness Show.   Contact one of our world-class financial coaches to help you learn how to stretch every dollar, get your money's worth, or gain complete control of your financial life: http://FinancialWellnessShow.com/coaches

Each circle in the wheelhouse focuses on one of the five major areas of our lives: Spiritual Family Personal  Business/Career Financial These goals are on an annual basis, but you could base them on a 10-day goal as well.  Write down your goals inside each circle. This helps to: Focus on what you truly want Stay the course What gets measured gets done Coach Ashley shares her goals and how she uses the 5 Wheels of Goal Setting. For more about Coach Ashley, or to connect with any of our expert Financial Wellness Coaches at Coach Connections, schedule a free consultation at http://FinancialWellnessShow.com/coaches  

Many people make investment decisions with their money before sufficiently preparing. Coach Mary has been involved with the investment industry for many years. She now focuses on helping individuals get control of their money while looking forward to the future. Download the 13 Steps To Take Before Investing Your Money http://FinancialWellnessShow.com/22

More and more adults are going back to school. It's a rising trend among professionals and those looking to expand their career field. Our very own Coach Julia is no stranger to going back to school as an adult. She shares her experience and wisdom on the subject. Take-aways from this episode: Coach Julia remembers wanting to quit many times.  The reward of finishing and possible opportunities are what keeps her going. Don't worry about being the oldest person in the class. You may be sitting next to the future CEO of a company that may hire you. They may have connections through networks or knowledge of career opportunities. The most important thing is to know your "why" and - maybe more importantly - to finish. Practical things to do before going back: Get the family's buy-in - their support is extremely important Decide on the type of education (degree, certification, completion) Consider the options for learning on-campus, online, or at a trade school Is it a semester course? 5-week class? Nights or weekend classes? There are differences between learning style and learning environment. Location doesn't matter as much. The most important thing is to finish. And finally: Be prepared to spend more than the initial cost for indirect fees Be prepared for things to interrupt your studies Be prepared for live events to get in the way of your schedule

Preparing a loved one for our eventual departure from this planet is never a pleasant conversation - but it is one of great importance. What will the household budget look like if we pass away? Is life insurance necessary and, if so, is it the right kind of insurance? Are the living arrangements condusive for physical disabilities? What about Long Term Care Insurance?   Coach Becky has seen some of her clients lose a spouse. She gives the example of a husband with cancer that assured his wife she would be okay because he had $200,000 in life insurance. What they didn’t realize was the policy was an Accidental Death policy. Cancer is not accidental so she did not receive a payout when he passed away. Another consideration is managing a disability or parent who needs assisted care. Does one move into a different house with fewer stairs or can fit a wheelchair through the doorways? What about living in an apartment to elevate much of the maintenance responsibilities. A budget can be busted if one spouse goes into assisted living without Long Term Care Insurance coverage. Coach Becky also believes children need to be prepared (where age appropriate). However, deciding where to live could be influenced by where your grown children have settled - and they need to be consulted.  CONTACT US for a free initial consultation where we can match you up with the perfect financial wellness coach who can serve as the moderator or mediator for these life-altering decisions. Visit http://FinancialWellnessShow.com/coaches

How to drive and pay cash for a $15,000 car in 4 years.  How rich would we be if we stopped driving? The concept was featured in a recent article on Wisebread.com and posed the question “What is a car really costing you?” A car is a necessity to get around on your own schedule instead of waiting for a bus or call Uber to  pick you up. The cost of operating a vehicle in the United States, as exemplified in the article, was estimated to be over $7,000 a year - and that does not include car or lease payments if you don’t buy the car straight-out: Depreciation $3,571 Gas $2,168 Insurance $1,029 Repairs $745 Coach Kim joins me in today’s episode to explain how we can cut more than $3,000 in depreciation costs and save enough money to trade up in car every year. This process could lead a struggling full-time commuter to purchase a $15,000 with cash in 48 months.

Public school teachers are often paid twelve months out of the year by stretching out the paychecks. For example: You would get less during the working months but will receive pay during summer break. Others will be paid only for those weeks or months they actively teach. This can wreak havoc on a household budget. How can you be prepared? Coach Julia gives us these valuable takeaways:   Be aware of the expenses you won’t have during non-working months Create a robust savings plan during the working months to cover non-working months Ask to have your paychecks stretched out to a 12 month schedule Get a part-time job with amusement parks or offer private tutoring Sell lesson plans for $5 Schedule an appointment with one of our Financial Wellness Coacheshttp://FinancialWellnessShow.com/coaches

Coach Jeremy tells us about the Dataman app, budget billing, and how to avoid getting caught short when the air conditioning bill skyrockets in July. For a full list of show notes or to schedule an initial consultation (free), visit http://FinancialWellnessShow.com/17 Schedule a free initial consultation http://FinancialWellnessShow.com/coaches

Captain Nanavaty joins us to share his passion for helping first responders and emergency service personnel through the tough times they face in the day-to-day activities of their stressful jobs.  You can contact Safe Call Now by calling 206-459-3020 or 877-230-6060 or visiting SafeCallNow.org

Coach Greg has found a correlation between what we observed as a child and how that translates to our behavior as an adult.  One of the first questions Coach Greg asks of his clients is “What did you observe about how your parents handled money”? Just because mom or dad handled money one way or another doesn’t make what you are doing right or wrong, but it does shape the behavior you tend to lean towards. Full show notes at http://FinancialWellnessShow.com/15 Join MyMoneyWellness using promo code show50 to save 50% on your membership. Take action today and sign up at http://www.financialwellnessshow.com/mymoneywellness

Coach Ahmad hasn’t had it easy, but he certainly has it good now. It started 14 years ago when Coach Ahmad went through a divorce, chose to be homeless, and lived of ravioli and pinto beans for years. He made the decision to work his way out of debt, pay cash for everything, and turned his life around. Ahmad’s victories: Paid off all the consumer debt Paid for his wedding with cash Paid for eight cars with cash Is working on paying for his children’s college (and teaching them to get scholarships)   If you'd like to learn more about Coach Ahmad or connect with any of our Financial Coaches, visit http://FinancialWellnessShow.com/coaches

Tom Corley has written two book: Rich Habits and Rich Kids. Both are full of great information and can be found at his website: http://RichHabits.net Today he joins us to talk about teaching children the rich habit of saving and spending wisely - or learning from bad purchases. Get your finances in order while teaching your children how money really works by connecting with our Coach Connection center   http://FinancialWellnessShow.com/Coaches

Most believe a big tax refund is a good thing, but what if you could use your refund during the year instead of getting it in April? A refund is simply this: Individuals sending more money to the government than they have to and the overage is returned in the form of a tax refund. While that money is sitting in government coffers, you are not able to use it for investing, debt repayment, car repairs or the grocery bill. It is an interest-free loan to the government. Example: You have a car payment with an interest rate of 3 percent or credit card at 18.99 percent, yet you are receiving a $1,200 tax refund. Would your finances be improved by bringing home an additional $100 a month and use it to pay down the higher-interest debt? The not so happy crossroads of tax refunds and identity theft Identity theft has been on the rise for many years. Last year, an influx of fraudulent tax returns were filed and your tax refund could be sent to somebody else. It takes many, many months for the problem to be sorted out and your refund returned to you. This is yet another reason why we recommend you follow these three steps: Estimate your tax liability before the year begins Adjust your withholdings Re-assess your situation every quarter Consult with a Financial Wellness Coach, CPA, or tax professional for help   Learn more about our services and how we can match you up with the right coach for you, visit http://FinancialWellnessShow.com/Coaches For more on this topic, visit http://FinancialWellnessShow.com/12    

Can a Financial Coach help you dump a timeshare?  Coach Hal assisted his clients out of a timeshare they no longer wanted. This is just one of the ways a Financial Coach can help. It’s not just about budgeting and saving money - it’s helping you get through life’s financial challenges. If you want unbiased assistance from a trusted 3rd party who can speak into your financial life then visit FinancialWellnessShow.com/coaching

For a summary of this show and a link to James Kinson's "14 Steps to Your First Cash Car" visit http://FinancialWellnessShow.com/10 James Kinson is a Cash Car Convert - it even says so on his website.  The reason James is so passionate about helping people buy used cars is because he understands the impact new cars have on an individual’s personal finances - and buying new is what most people do. James Kinson shares this, "Most of us were taught that we will always have car payments. Within the first year a new car will lose about 19% of its value and 60% over five years. It is because depreciation isn’t directly hitting a person’s wallet that most people don’t consider the financial impact.” He shares with us ways to get out of car debt: Sell the car What if you are upside-down? What would I drive? (buy a beater) Trade in to lower-value debt car   Accelerating the existing loan payment Sell stuff Cut costs in your budget Get an extra job   Getting out of a lease Swap-lease and LeaseTrader.com Sell the car, pay the difference (if any) Turn in early and pay the remaining lease payments ___________________ Consider taking our online Financial Wellness course called http://MyMoneyWellness.com/dj Use the promo code show50 to get half off the first month's membership. Send in questions to Steve@FinancialWellnessShow.com

A budget does not restrict your spending - your income does.   Whether you make $4k a month of $100k a month - you can only "spend" what you have or you will go into debt.  Note: I consider putting money into savings or retirement another form of "spending"   Coach Justin joins us to discuss the 4 Keys to successful budgeting: Updated our budget Balanced our budget Discussed it with our spouse Live on it (follow the plan)   Schedule your free consultation with one of our expert Financial Wellness Coaches http://FinancialWellnessShow.com/contact To receive updates and invitations to special webinars enter your name and email here: http://FinancialWellnessShow.com/Updates

Mindset is important to the wellness of our money. Austin Netzley joins us to share what he learned by interviewing more than 70 experts in the financial industry - and he wrote a book around it.  Tweetable: Your ability to build wealth isn’t a money problem, it’s a priority problem @AustinNetzley http://FinancialWellnessShow.com/08

Contact a coach to help you http://FinancialWellnessShow.com/FindACoach Are there any options when you fall behind on your bills? Coach Parkey joins us today to share ideas for dealing with collectors. When do you call your creditors? What can you negotiate with? Is there a moral responsibility to to pay the debt in full? Dealing with collectors isn’t fun, but ignoring them is the worst thing you can do.  Best practices for settling debts or negotiating new terms: Communicate Be honest about your situation Offer them only what you have Get any new deals put into writing Never give collectors banking information  Send cashier checks via certified mail While dealing with creditors is scary, it is only temporary. Once a new deal is negotiated you have another chance to satisfy your creditors.  If you are looking for assistance, support, or a Financial Coach to help you get through this, contact one of our coaches like Coach Parkey at http://FinancialWellnessShow.com/FindACoach    

To find out more contact a coach http://FinancialWellnessShow.com/FindACoach   Buying in bulk can mean a number of things: You can buy more for less money You can buy more, less often. It is also wise to be aware of the costs involved with buying in bulk. In this episode Coach Dave and I discuss when it makes cents to buy in bulk. More importantly, we challenge you to think outside of the Big Box.

How do you get a reluctant spouse on board?   Coach Justin shares some startling statistics about money and marriage.  60 percent of married couples partially mix their money, 30 percent keep separate checking accounts, and only 10 percent keep everything together. Is there a correlation or is this causation? Listen to Coach Jeremy discuss the benefits of sharing a bank account and how to get a reluctant spouse on board. To get one-on-one help or couple's financial counseling, contact a Financial Wellness Coach http://FinancialWellnessShow.com/findacoach

Coach Mary and her husband had a plan - even though they weren't sure exactly where that plan was taking them. They made the decision to forgo unnecessary vacations and spending their bonuses and lived on less than they earned. After a few years they paid off their last consumer debt and found financial freedom to do whatever they wanted.  Listen to the interview with Mary by clicking the play button above. Steve: Mary, you have a wonderful testimony that I would love to have you share with the audience. Before we get into all of that, tell people who is Mary Hayford. Mary: Thanks for having me, Steve. As a professional, I am a financial coach, and I also teach financial education. I not only do it for work, but we live it in our lives every day. Steve: How do you live it every day? Mary: The first thing we do is we live on less than what we earn; it’s a conscious choice and a conscious decision. This is contrary to what our society dictates to us, but we’ve found it to be a smart choice. Steve: And the reason you did this was to become a millionaire? Mary: I don’t know if it was that clear to us back then; it started when we were in our early 30’s. We had seen many people work for years and years at their jobs, make a lot of money, and be very successful. Unfortunately, these people made the decision to spend everything they made. They spent additional money they made, like bonus checks, raises through the years. They weren’t able to enjoy the fruit of their labors because they weren’t saving anything. They were living month to month, spending everything they earned. It became clear to use that this is not how we wanted to live our own lives; we didn’t want to feel that way after decades of working. Steve: That sounds like the typical American. So what was your end goal here? Mary: The end goal in making the decision to live on less than what we made, and save for our retirement, and have an emergency fund, was that I knew that my current career was not something I wanted to do for the rest of my life. This was the driving force of us getting focused. The first thing this afforded us was to give us options to look at. So many people are in what they consider “dead end” careers that they despise going to every day; once we got out of debt we were able to have the option for me to consider leaving my full time job. It was not possible for us to do this or think about it in a responsible way until we paid off everything. Steve: Most people would call that early retirement, but what you’re going to tell us about is the big life-changing event you guys are working on right now. By being debt free, you’re now about to adopt! Mary: It’s very exciting! I consider myself living out two dreams at once for our family: I stopped working my first career, but I never stopped working all together. My husband and I have always wanted to have children; we felt that somehow, someway it was going to be possible and become real for us. So we continued all throughout our 30s and 40s to search for God’s plan for us to have children. Lo and behold, at ages 51 and 52, we are in the process of adopting two beautiful children. They are sisters age 10 and age 15 Steve: That’s so great!! Would you say that five years ago you knew this was your plan? Mary: No, we didn’t know this was our plan. It was our desire; we are very goal oriented and very patient. We felt that if this was really the true plan that God laid out for our life, then somehow, as long as we kept working toward it in our home life, marriage, and finances, God would allow it to happen. Steve: The point I’m trying to lead to is that you didn’t know that this was your goal, but you continued just living on less than you make in order to get rid of that consumer debt. You’re actually consumer and mortgage debt free, is that correct? Mary: Yes, we are. What you just said is right on. At this stage of our life, in our early 50s, if we were saddled with a lifestyle that we spent everything we made, and if we didn’t have money for retirement, and if we had a big, hefty mortgage payment, bringing two children into our home would not have been a responsible decision that we would have considered. Steve: And your desire was to be able to be home with the kids as much as possible. Mary: I wanted to be able to position myself and our family, that if we were able to bring children into our home, that I was in a career that would allow me the flexibility to be here for the kids. Steve: And you did it!!! Mary: I feel 100% certain that people who are working two full times jobs can still adequately meet the needs of their children, but I am sure however, that without the financial strain of needing two full time incomes has made a difference for us. Steve: Would you caution a person, in their 30s with debt, against adoption? What would the roadblocks be for them? Mary: I wouldn’t caution or deter them, but I would say that some people have felt that adoption wasn’t an option because in many cases adoptions can cost $30K to $40K in a private placement. We are adopting two girls that are in the foster care system and it’s not costing us anything. For people that want to adopt, but are worried about the cost, there are options out there. I encourage people to consider all the options, and not to allow money to be the reason they stop dreaming of having a family of their own. Steve: I’m certainly not an expert on the adoption process, so can you give us an idea of what those options are that you were just referring to? Mary: There are two main ways that people choose to adopt. One would be through a private attorney, either a domestic or international adoption. When you do either of those through a private placement, that necessitates a lot of work on the part of the attorney. The rate for this is about $30K-$40K per child right now. For many families that is not an option; for those that would consider adoption, we have a system here in the US that does not have a good reputation. It is the foster care system. These children have been removed from their homes for one reason or another. When you choose to go this route, you can adopt these children at essentially no cost to you. And children are available from all ages newborn to teenager. I encourage people that if it is your hope and dream to adopt, do your homework and look at your options. Steve: Thanks for coming on to the show. Your testimony is wonderful; I love the idea that you didn’t exactly know what you were going to do, but by living on less than you make and paying off the debt, you have been able to make these choices. Adoption is a wonderful thing for those looking to increase the size of their family. Are there resources that you would like to direct our listeners to, that will help them discover their options? Mary: I tell people to start local. Every municipality has an agency to obtain where they can obtain more information. The second thing I tell people is to check online for the state agency. The third thing is to check online and look at national data base. Keep looking until you can connect with an agency and a child that you can work with and bring in as part of your family.

Getting what you want out of life means having a plan. The best way to accomplish goals is to make them SMART Specific Measurable Actionable Realistic Timebound Coach Jeremy shows us how SMART goals work To contact Coach Jeremy or any of our respected Financial Coaches visit http://FinancialWellnessShow.com/coaches

The most efficient dollar spent is one that has been given a name. The best way to control your cash is to, well, spend with cash. Coach Greg shares how easy the cash envelope works and he even tells us where he stashes his. To contact Coach Greg or any of our Financial Coaches visit FinancialWellnessShow.com

Welcome to the Financial Wellness Show. We are here to help improve the health and wealth of your money. We bring you the most respected Financial Coaches to discuss various topics from spending, saving, retirement, and making wise purchases. Oh, and we show you how to get out of debt too.   To contact a coach visit http://FinancialWellnessShow.com/coaches