Feed The Pig

It seems like there are a number of people that I know lately either popping the question or popping a baby out (my wife included). So it is no question that this email I just received from FeedThePig.org came at perfect timing. If you are pregnant, getting married, or heck if you fall into both categories don't miss reading what they have to say at FeedThePig.org.

For richer or poorer. Each individual brings their own financial history, attitudes and habits (both good and bad) to a relationship. When you get married, personal finances become a joint effort. One of the most important steps before getting married is to define your goals as a couple. Developing a joint spending plan can help you achieve your goals, and determine your daily money management; for example, will you maintain your individual bank accounts, or set up joint accounts?


As with starting a career, you want to make sure that you're maximizing both of your employer benefits, including health insurance and retirement plans, that you have adequate life insurance coverage and that the investments you choose suit your goals, time frames and risk tolerance. For more information on financial planning when you get married, click here.

A bun in the oven. Having or adopting a child is one of the most joyous times of a parent's life. But a growing family means growing financial obligations. Make sure you take the time to sit down and reevaluate your current financial plan and goals. Even though you may be still putting together the crib, you need to adjust your budget to account for new expenses like baby food, diapers, clothing, child care, etc., in addition to thinking about saving for your child's education.

Having a child makes it that much more vital that you have adequate health insurance, life insurance and disability income insurance. It's also important that you establish or update your estate plan—including a will, health-care proxy and power of attorney—no matter how young you are. Click here for more financial tips for parenthood.

Because life changes can mean lots of excitement and stress we often times forget the financial impact of such decisions/events. Make sure that you think ahead so that those times that can be so exciting don't turn into times of financial stress or regret.

Bountiful Baskets

I have been trying to eat better lately and I don't think it is any secret that eating healthy can get expensive. Not this week.

5 apples

6 tangerines

3 mangos

5 tomatoes

7 bananas

Cantaloupe melon

Bundle of broccoli

Bundle of asparagus

Head of Cauliflower

Bundle of Swiss chard

Celery

Cilantro

All that for only $16.50 Saturday morning at Bountiful Baskets, our local produce co-op. You should definitely sign up for this deal.

Free Tickets To Utah Money Watchers Conference

I just received an email that AARP, a sponsor of the Utah Money Watchers conference is offering a limited number of scholarships to the conference I just blogged about. If you would like to go just email me and I will get you two tickets. Let me know soon!

Utah Money Watchers Conference: Money Well Spent

There is a local event going on next Saturday, March 26th, that you may want to be a part of. Sponsored by KUED, it is called the Utah Money Watchers Conference. The event is all about how to be a Savvy consumer and make those hard earned dollars count. This will be all day at the Marriott Hotel in downtown SLC. There is a $15 charge that includes a number of different breakout sessions including an address from Governor Herbert and lunch! Topics such as securing a good financial future, seven steps to debt elimination and financial peace, and avoiding money scams and fraud will be covered.

For more information or to sign up just click on the picture to go to the link... I am getting some mad technology skills... don't deny it.

Driven

A few weeks ago I started on a book that I have wanted to read for quite some time. FINALLY my turn came up at the library and my wifey went and checked the book out for me. The Book is called Driven, an autobiography on the life of Larry H. Miller, a very successful businessman and entrepreneur who passed away a few years back. I just wanted to share a little tidbit about some philosophies Larry had that I share and wholeheartedly support.

When Larry and Gail were first married they uncured a $3,000 medical debt and purchased a home shortly thereafter for around $25,000. They hated the draining slavery felt in servicing the debt, so they reduced their expenses as much as possible and then began to pay down the debt as aggressive as their circumstances would allow. Eventually Larry found a good deal on a Land Cruiser that he restored and sold to pay off their remaining debt. They both vowed at that moment that they would do anything possible to avoid getting into personal debt ever again. They then set another goal together as Larry received a wage increase. He didn't want to do as most and live up to that increase. Rather they went on with life as if it never occurred taking those extra dollars and saving them for the future. Larry and Gail didn't want money, they wanted security and it seems to me that they realized that no one was going to give that to them, rather they had to earn it themselves. Eventually Larry had accumulated $44,000 which he invested in a real estate deal where he was able to double his investment, gaining the initial funds to launch him into the car dealership business.

Larry was very modest in what he wore, drove, purchased, ect. He had the idea that he never wanted to let material things get the best of him. He had a love for Cobras, which he quite the collection of. In their ladder years they eventually built a home as Gail had always wanted to. But when Larry would have people over he apologized for the extravagance of their home, not wanting others to think of their family as boastful or vain. I have a guy from my church that said Larry was his Sunday School teacher as a teenager. He said he remembers Larry drove an old Firebird that he limped along till the day that it puked. From that point he just drove a modest car from one of his dealerships. He had potential for all that he ever wanted but wore the same leather banded wristwatch, simple gold wedding band, polo shirt and white tennis shoes (often times that were mailed to the players that they didn't want).

Larry beleived that his wealth was given to him as a stewardship from God and he wanted to do all the good he could with it. He was very generous in giving to his church among many local organizations, scholarships and individuals. One year he had written a goal that he would give so much to the local food bank that they would cry uncle.

I want to be like him...

Junior Achievement of Utah

I am pretty excited today. This passed week, Valentines day to be exact, I found out about a local organization called Junior Achievement of Utah. They are a non profit organization that deals with financial and economic education in schools from elementary on up through high school.

I just met with Sandra, one of the local reps and signed up to volunteer a few times a month to go into our local high school and teach the financial literacy side of the course. Super excited out it! Stay tuned for updates on how the classes go!

Moola!

So there is this pretty cool app called Moola that I have become fond of. It is put out by Nefarious Monkey...Crazy name, I know, but the app is pretty cool. In essence, it is just a digital checkbook register but you can use it to track more than just checking. Plus, having it on my phone makes it so I don't have to lug one more thing around, and I don't have to sit and log everything at home long after I have forgotten details. Here are a few sweet moves the app has:

✔ Multiple accounts tracking ✔ A Bill tracker

✔ Customizable categories ✔ Recurring transactions

✔ Data import/export/backup

This app is not linked to your account and I prefer it that way. Call me old fashion but I like knowing real time what my finances look like. The light version is free and that is all I have used for quite some time. I suggest it for any android user that is even half as nerdy as I am about their finances.

Patience...

I heard the following six months ago. I wish I knew all there was to know on the subject...

“In the 1960s, a professor at Stanford University began a modest experiment testing the willpower of four-year-old children. He placed before them a large marshmallow and then told them they could eat it right away or, if they waited for 15 minutes, they could have two marshmallows.


He then left the children alone and watched what happened behind a two-way mirror. Some of the children ate the marshmallow immediately; some could wait only a few minutes before giving in to temptation. Only 30 percent were able to wait.


It was a mildly interesting experiment, and the professor moved on to other areas of research, for, in his own words, “there are only so many things you can do with kids trying not to eat marshmallows.” But as time went on, he kept track of the children and began to notice an interesting correlation: the children who could not wait struggled later in life and had more behavioral problems, while those who waited tended to be more positive and better motivated, have higher grades and incomes, and have healthier relationships.


What started as a simple experiment with children and marshmallows became a landmark study suggesting that the ability to wait—to be patient—was a key character trait that might predict later success in life.


Waiting can be hard. Children know it, and so do adults. We live in a world offering fast food, instant messaging, on-demand movies, and immediate answers to the most trivial or profound questions. We don’t like to wait. Some even feel their blood pressure rise when their line at the grocery store moves slower than those around them.


Patience—the ability to put our desires on hold for a time—is a precious and rare virtue. We want what we want, and we want it now. Therefore, the very idea of patience may seem unpleasant and, at times, bitter.”

A few take-aways I have come out with after listening to this a half dozen times...

1. Patience is not just "passive resignation", it is an action... steady work
2. Being able to delay our short term wants for a bigger goal is a sign of maturity and self discipline.
3. Patience is accepting what we cannot change with courage and understanding, or even happiness.
4. Patience requires actively working toward worthwhile goals and not getting discouraged when results do not appear instantly or without effort.
5. Patience means resisting evil even when it appears to be making others rich.
6. Sometimes it is in the waiting rather than the receiving that we grow the most.

This is an excerpt from one of my church leaders Dieter F. Uchtdorf. No matter what faith you are this is wise cousel for all. If you want to read the full monte you can find it here. Or you can watch it here.Here is also a fun video on the very same subject...

I found this on visualeconomics.com and thought it was worth sharing...

It is kind of crazy to see where we as a citizens are collectively spending our hard earned dollars.

Lunch and Learn

Every so often my employer offers these workshops called Lunch and Learn, where we come in on our lunch breaks and they feed us and provide some type of educational seminar. Some nutritional, some motivational. They are a pretty cool thing. This week in lieu of National Preparedness Month, we had a meeting entirely focused on emergency preparedness and creating a disaster plan. I learned a few nuggets worth sharing.

1. Understand your vulnerabilities and where you are at risk. They mentioned this in reference to physical preparation but it also applies to our financial preparation.
2. Dominoes now serves sandwiches... and they deliver! That is what we had for lunch in case you are curious.
3. Make copies of critical documents and store them in a disaster proof container or location. If something bad happens, the loss of those documents could be a disaster in and of itself.
4. Be practical about what you are storing. If you cannot or do not eat it regularly why store it.
5. In an emergency, you will still need meds. If you are on any type of a prescription medicaion and it is critical to your survival, do your best to build up at least a few week supply.