1. STOP borrowing money.
2. Spend LESS than you earn (live within your means).
3. SAVE 10% of your net income (even if it hurts).
4. Lather, rinse, repeat.

The days of thinking it has to be hard are OVER in your life!  The death of common sense can’t be tolerated another second.  The above 4 steps would solve the financial problems of this country.  Not over night, mind you.  But much, much sooner rather than later.

To Your Financial Freedom,
Greg Whitaker
www.debtshepherd.com 

© Greg Whitaker 2011, All rights reserved

When relatives ask you for money it can seem very innocent. Hardly ever would the word moocher come to mind. After all, we have all had hard times here and there. But what happens when someone will not stop asking you for money?

Saying no is hard, especially to someone you love. But what if you simply cannot afford to help them? One thing that is very important is to consider the person who is constantly asking you for money. What is their story? Are they working? Do you know if they are still traveling or going out to dinner? Are they working hard to make it on their own? Are they working on weekends and if they don’t have work are looking diligently for a job? Sometimes when we are asked by relatives for money it can be easy to overlook their actions. Our love for them can get in our way of being honest with ourselves. Many of us want to be generous and giving, but how often have you really thought about whether giving is a good thing or is harmful?

Giving can be harmful to you because you do not know what is around the corner for yourself. Have you seriously looked at your own finances and made sure you can give? Do you have a large emergency fund for at least a year and a half? Are you working or do you depend on social security? Are you young and have lots of years of work ahead of you? Or, are you older and sometimes wonder if you should skip taking your medication to pay your bills?

Are you an older person being asked for money by someone young? When a relative or loved one asks you for money do you become stressed? Notice your own thoughts and feelings because they may be telling you to say no even when your mouth is saying yes. People who are asking for money can paint very bleak pictures about how they are so desperate and are starving or about to be evicted from their apartment. That can make it even harder to say no.

None of us know what our future will bring and life is very difficult when we are broke. It can be even more difficult when you know you gave away your money to help someone else and they are nowhere to be found in your hour of need. Seriously look at your situation and please re-evaluate giving to relatives, especially when they are younger than you. Money is hard to come by and you deserve to keep it. Many of us have generous hearts and want to see our loved ones succeed but if you are putting yourself in harm’s way then you need to stop.

Julie Horton lives in Utah has created a website to share the detriments of over-giving. To learn more about why you should keep your money and not give to moochers, please visit: Be a Smart Giver.com

Article Source: http://ezinearticles.com/?expert=Julie_K._Horton

Dave Ramsey discusses the importance of budgeting.

I can not stress ENOUGH the importance of becoming debt free and having a financial plan. Be honest. The “economy” isn’t getting any better. Home values are depressed nationwide. Gas and food prices are on the rise. Corporate layoffs are a harsh, daily reality. And even if things were picture perfect, being debt free and having a financial plan will serve you for a lifetime. If you fail to plan, you plan to fail.

I didn’t start getting serious about my finances until I was about 35 years old. A bit late? It’s never too late. I was working in residential mortgage lending. You’d think lenders would be the smartest people when it comes to handling their personal finances. I can’t speak for all lenders, but I certainly didn’t have my ducks in a row.

Being on the “inside” of the money game wasn’t enough. I knew how to create debt. I was good at creating my own personal debt and helping others create debt (mortgages). But I wasn’t saving. I had a mortgage, two car payments, and $17,000 in credit card debt. Fairly normal by most standards for sure.

If you want to get your debt under control and have a financial plan, you are going to have to do a few things that aren’t “fairly normal”!!!

Review:

What is it?

Debt To Wealth® is a debt elimination, financial freedom plan in a box. It’s an e-course you can study and follow at your own pace. It’s author, John Cummuta, created the #1 selling debt elimination program in the world. You may have heard some of his ads on radio.

Things I Like:

The material is straight forward and presented in a logical step-by-step fashion. There’s videos, audios, and a printable workbook. You can download all the material at once. Or you can bookmark the content page and access the material from there. Either way is a big plus, especially if you don’t like to wait for snail mail. There’s some pretty cool bonus e-books too. The author issues a “14 day challenge” to keep you focused and motivated.

This author is who got me started back in 2006. I refer to his material often.

If you need coaching and guidance, there’s a free resource offered via a toll free number. Prosperity, Inc. is the name of that company. I checked them out and they appear to be solid with a top notch client list.

Things I Would Change:

There’s nothing I would change, content wise. I had a little bit of trouble downloading one of the files, but just refreshed my web page and tried it again with no problem. One of the video modules looked a little bit grainy, but wasn’t an issue. You could adjust the window size of your video player. A smaller viewing window can help with picture clarity.

Rating: 4.5

Highest rating will be 5 Stars.

Click on the link below for more information on Debt To Wealth®:

Note: Yes, the above link is my affiliate link. And I will get a commission if you click on it and buy this product. However, that doesn’t affect how I review the product because I will tell you both the good and bad regarding the product. Any commissions I earn cover the costs of maintaining this site so that I can continue to provide informative and entertaining reviews on the products that matter to you.

© Greg Whitaker 2011, All rights reserved

I’m blogging this because in recent months I’ve realized something. I need to refocus my commitment to financial discipline. I always apply 10% of my gross income to pre-paying my smallest balance debt first. What I realized today is my wife Lynn and I aren’t both doing that.  No fault, we just got lazy.

• Couples need to be on the same page financially
• Bills are paid together
• Budgeting is done as a team
• Grocery shopping is done together, when possible.
• Major purchases are discussed ahead of time
• No “secret” savings accounts or credit cards the other spouse isn’t aware exist
• Money is the #1 cause of marital problems

Late last year we hit a comfort zone with our efforts toward debt freedom. We got a little lazy and made some cash purchases we don’t normally make. We got even lazier and pulled out the plastic end of last year.  I paid off most of the plastic with saved cash, but there’s a small balance left.

So Visa is getting a piece of my action every month.  Greg got stupid and decided he needed a “business partner” who gets a share of his monthly profits.  You don’t need any business partners with credit card names.  It’s a losers game.  I paid a $17k credit card mountain off in 12 months in 2006.  I can handle this $3,100 mole hill, but it’s just irritation with myself for slipping.  Know what I mean?

Went to a used book store today.  To stay on track I bought Dave Ramsey’s “Financial Peace University” in a box.  The CD’s alone are worth 100 times the purchase price.  So I get to brush up on my knowledge base and get inspired to keep my game sharp.  That fuels my coaching/teaching efforts.  When privileged enough to be asked to help someone, I like to be prepared.

I encourage you to develop financial discipline if you don’t have it.  If you do have it, keep it focused and fresh.  Never stop learning.  Read a book on the subject.  Listen to an audio teaching.  And most importantly, share your knowledge with others.

As the great Jim Rohn said “Everybody wins when somebody shares.”

To Your Financial Freedom,
Greg Whitaker
www.debtshepherd.com

© Greg Whitaker 2011, All rights reserved

Take a look at the BRANDZ(tm) Top 100 most valuable global brands report. This speaks volumes to human behavior.  What we buy most is what’s most important to us.

Of the top 10 global brands, Marlboro is 8th & McDonald’s 4th. It comes as no surprise that the top 2 killers of Americans are heart disease and cancer (1.1 million deaths). Source: Deaths: Final Data for 2007, table B, The Centers For Disease Control.

Those deaths are strongly related to what we consume, what we buy. What we buy most tells us what’s most important to us. Heart disease and cancer are primarily diseases of affluence. Affluence means abundance. Abundance of what, tobacco and junk food? I don’t know, but 1.1 million deaths really make you think.

Don’t get your shorts in a bunch about the disease comments. I lost both my parents to cancer before I was 40. They passed away 13 months apart. I’m not judging here. I just want you to stop and think about what you buy. What’s most important to you? How do you spend your time?

So what does any of this have to do with money? It has everything to do with money. If I’m spending more than I make, that’s an abundance problem. Just as when I’m eating more calories than I burn, that’s an abundance problem. What’s the old saying? Too much of a good thing……

The question “What do you buy?” is the same as “What are you eating, drinking, or doing?” If you aren’t happy with what you’re getting, stop doing what you’re doing. If you want different results with your money you have to take different action. No area of your life is immune to this rule, especially money.

I want you to win in the area of your finances. Just take an honest look at your results. Ask yourself “If I could change one thing about my finances, what would it be?” Realize you are 100% responsible for your current situation. No one wins the blame game.

I’ll close with a few book recommendations from Larry Winget, The Pitbull of Personal Development.  He’s a 5 time Wall Street Journal & New York Times bestselling author. I’ve read one of them and gave a copy to a friend.

• “You’re Broke Because You Want To Be”

• “Shut Up, Stop Whining, and Get a Life!”

• “That Makes Me Sick”

You are 100% responsible for YOUR economy, and that means 100% in control of changing it if you want to!

To Your Financial Freedom,
Greg Whitaker
www.debtshepherd.com

© Greg Whitaker 2011, All rights reserved

Just what is broke?  What is financially free?  The two terms are relative.  Broke or financially free to you might be something completely different to your neighbor.  Here are a few thoughts:

• Broke is zero money in savings/checking, no assets to sell for cash.
• If you have debt on an “asset”, it’s not an asset.  It’s a LIABILITY.
• If you’re employed and broke, then you’re just “temporarily unfunded.”
• Ever been broke, busted, and thoroughly disgusted?
• Broke means something needs to be fixed, repaired, or changed.
• What’s really broke is the way we think about money.
• Financially free means monthly passive income exceeds monthly expenses.
• Passive income means income earned if you decide to stay in bed.  SWEET!!
• Do you know if/when you’ll be financially free?
• Why do we envy and/or respect people who are financially free?

Huge tip.  Stop taking financial advice from people who are broke.  If someone gives you financial advice, ask them about their current financial health.  What results are they getting?

As of this writing I have an $80K mortgage balance and $3,200 Visa balance.  I pre-pay the Visa as much as my budget allows each month.  That’s 10% of my net income toward pre-payment.  When that’s paid off, I’ll pre-pay the mortgage the same way.  My wife Lynn and I hold title (no debt) to both our cars. Slow and steady wins the race.

I’m willing to bet you spend more time thinking about money than you spend thinking about:

• sex, (abundance or lack thereof)
• your relationship(s)
• your health
• God

It’s really a choice.  Broke or financially free?  What do you really want?  If you’re broke and want to change it I suggest getting out of debt fast.  If you’re not in debt and working toward financial freedom, teach someone how to do what you’re doing.  Assuming you’re happy with your current results.

To Your Financial Freedom,
Greg Whitaker
www.debtshepherd.com

© Greg Whitaker 2011, All rights reserved

Powerful video. Want to know how the money system really works? This video explains that and a whole lot more. Beware, once you know something you can’t not know it.

“The bold effort the present (central) bank had made to control the government … are but premonitions of the fate that await the American people should they be deluded into a perpetuation of this institution or the establishment of another like it.” – Andrew Jackson

To Your Financial Freedom,
Greg Whitaker
www.debtshepherd.com

© Greg Whitaker 2011, All rights reserved