March 27, 2019
That new car smell is great, but leasing one car after another means spending more money in the long run. Buying a car means you have an asset (even though it is a depreciating asset.) When you lease a car, you have nothing at the end of the lease - no transportation, nothing to trade in or sell.
It is hard to compare leasing versus buying head-to-head because they are so different and each is based on different parameters. Join us for more on why leasing may not be good for you. Our recommendation is to buy a certified used car and drive it till the wheels come off.
March 20, 2019
We rarely think about the end of life issues or what would happen if we became incapacitated due to illness or accident. What a blessing it would be to your family in this situation if all the important information they would need was up to date, organized and easy to locate.Â
March 13, 2019
When people retire, many times the goal is to simply stop working. As our lifespan increases, retirement can be a time of great fulfillment by planning well in the following areas:
- Talk to your spouse to develop a joint plan for retirement.
- Use a budget before retiring to manage your income and spending in retirement.
- Ditch the debt so you can be debt free when you retire.
- Find a passion to use your talents and skills in serving others.
Retirement can be the most fulfilling time of your life if you plan to make it so.
The Compass CatholicÂ blogÂ has more thoughts on retiring well.
Check out our retirement calculators as part of your planning process.
March 6, 2019
We would all be a lot happier if we defined financial success based on our own life, resources, capabilities and progress. Judging your circumstances against other people can be disheartening. All God is calling you to do is be a faithful steward of the blessings he has given to you, with no regard to what the next person is doing
The Compass Catholic blogÂ has more thoughts on defining financial success for yourself.
Based on a listener's question, here are the percentage guidelines for various budget categories. Use this as a starting point and customize it to fit your life.Â
February 27, 2019
Health care sharing plans are gaining popularity in the face of the rising cost of traditional health insurance. Both traditional insurance and health care sharing plans have pros and cons, so be sure you know the difference.
For an overview, check out last weekâ€™s podcast and blog, which also provides links to the major health care sharing plans. This week weâ€™ll focus on what health care sharing plans do not cover and what questions to consider asking if you are making a decision on which to buy. Check out the related blog.
February 20, 2019
Increases in the cost of traditional health insurance have driven many people to participate in health care sharing plans. Sharing plans are usually based on Christian ideals where like-minded people help each other. If you are considering a health care sharing plan, listen in for how this differs from traditional health insurance.
For links to the major healthcare sharing plans, check out the Compass Catholic blogÂ which has more details on this option for health care. And join us next week for Healthcare Sharing Plans - Part 2 where weâ€™ll share some questions to ask before participating.
February 13, 2019
There are lots of things to think about and plan for as you approach your wedding day. Unfortunately, most couples who are engaged to be married talk more about the flavor of their wedding cake than about their marital finances. The cake cutting ceremony takes about 10 minutes but finances are something theyâ€™ll deal with every day of their entire married life.
The Compass Catholic blog has more about why the â€śMoney Talkâ€ť is so important to a strong healthy marriage.
February 6, 2019
Hereâ€™s a family who has made, and continues to make financial mistakes. They admit the error of their ways but just canâ€™t seem to grow up enough to stop the madness. The Compass Catholic blogÂ has more about this couple who are in the middle of financial train wreck, but wonâ€™t make the effort to escape.
Take this as a warning and examine your own finances!
January 30, 2019
A 2017 study from CreditCards.com found that 74% of parents reported helping adult kids with expenses and debt. But once your child is an adult, there is a difference between lending a hand and providing them with a lifestyle they canâ€™t afford.
For more on this topic, join us on the Compass CatholicÂ blog if you are supporting your adult child financially.
January 23, 2019
Christmas spending was funâ€”lots of gifts, decorations, plenty of food and traveling to see the family. And now the bills are starting to roll in for all the spending fun. Make 2018 be the last year you get into debt for Christmas.
The Compass Catholic blogÂ has more on staying out of debt for Christmas 2019.
January 16, 2019
Resolutions are popular on January 1, but by now most of them have been abandoned. Join us on the Podcast for some ideas about how to set resolutions you will actually keep. The key is making them part of a large important life goal and managing the daily activities you need to accomplish so you eventually reach your life goal.
The Compass Catholic blog also has some Bible verses for you to reflect on as work on your financial resolutions.
January 9, 2019
There are three things you should do to review your 2018 finances and get prepared for 2019:
- Review your budget in 2018 and make the necessary changes for 2019. Which categories will decrease or increase in the new year?
- Review where you are on the Compass Money Map. Which destinations are complete and which still have open items?
- Calculate your Net Worth. Do you owe more than you own? Or is your net worth positive?
The Compass Catholic blog shares more about these three important steps to get ready for a successful financial year in 2019.
January 2, 2019
Financial problems can creep up slowly until they suddenly feel overwhelming. If you have an inkling that your finances are headed for trouble, address the issue as soon as possible to avoid long term financial harm. Join us here and on our blog as we talk about how to handle a looming financial issue. If you are experiencing financial challenges, youâ€™re not alone.Â
December 26, 2018
How much money do you need to feel wealthy? Is money the key to a wealthy lifestyle, or is there more to it than simply accumulating more and more? Join us as we discuss a Charles Schwab survey about wealth in America. Our blog has more on the topic.Â Interestingly, the survey results indicate money has nothing to do with feeling wealthy.
December 19, 2018
Christmas Day is fast approaching. Donâ€™t get so caught up in the busyness that you forget what the day is all about. Join us for thoughts on how to make conscious plans for a Christmas day you will enjoy. The Compass Catholic blog has more suggestions on this topic.
November 28, 2018
Sometimes we spend money on Christmas in an effort to fulfill some requirement that doesnâ€™t make sense if you stop and think about it rationally. Maybe your gifting is done out of guilt or obligation or competition.Â But what does that have to do with the real meaning of Christmas?
Tune in and join us on the Compass Catholic blog for stories about why people feel forced into Christmas spending and how to avoid it.
November 21, 2018
Time goes by quickly and we get so caught up in our day to day activities that we often forget to stop and thank God for the blessings he has given us. This year, instead of having the Thanksgiving holiday be a one day event, have it be the beginning of a year of gratitude.
November 14, 2018
Seems like we just jump from one buying season to another without much thought about why or even what we are celebrating.Â Debt can be the number one fear for many people at this time of year as they face the pressure to make everyone in their life happy by showering presents on them.
Join us and stop the madness by not going into one penny of debt for Christmas this year.
The Compass Catholic blog has more ideas about how to celebrate but stay sane in your spending.