2008 Year in Review

Budget

Contrary to what you may think, budget is not a dirty word, doesn't mean taking away all of your fun, and it isn't scary. As Jon Maxwell said, "A budget is simply people telling money what to do instead of wondering where it went." How many times have you wondered where your money went? Does there seem to be too much month at the end of your money? (Process that question a minute.)

With the price of milk and gas now just under $4/gallon, it’s time to get “Back to Basics” by managing our income, spending, saving, debt, and giving.

"Any enterprise is built by wise planning, becomes strong through common sense, and profits wonderfully by keeping abreast of the facts." Proverbs 24:3-4.

This article is the beginning of a series of articles dedicated to getting a grip on our finances. By getting “Back to Basics” I will provide guidance on budgeting, debt reduction, saving, giving, and stretching your money.

I talk with people everyday who are tired of living paycheck to paycheck (and beyond), who are tired of their mountain of credit card debt, who have no emergency savings, who have little saved for retirement, and who have no idea where to even begin to manage their money. Through these articles, I hope to get people talking about their money questions and get them motivated to want financial wellness.

If you have questions or need money coaching, please email angiev2@mchsi.com or call 815-631-7241. Finding Faith Ministries www.finding-faith-ministries.com

College Credit Cards

College freshmen are gearing up to face challenges academically, socially, and financially. Today we will focus on one of the many financial challenges that college kids will face: CREDIT CARDS. College kids are the most heavily targeted market for credit cards, and I am mortified that many colleges allow credit card companies to solicit business from students on campus.A recent Nellie Mae survey found the following: 78% of college undergrads have at least one card, with the average number of credit cards/student being 3; the average credit card debt/student is $2,748, and 13% of students surveyed have between $3000-$7000 in credit card debt, while 9% of students have >$7000 in credit card debt.Parents, please talk with your children about credit card avoidance, and demonstrate this avoidance by stopping the use of credit cards yourself. I would not challenge you to do anything I am not willing to do myself. Credit card companies know that many students have witnessed their parents using credit cards, and that the kids have become to believe falsely that using credit cards is as normal as writing a check or using a debit card. However, we all know that using credit is different and that it straps the user financially. Support your college student financially by laying down your credit cards while encouraging them to never pick-up one.

by Dawn Zuidema, theCity1.com
July 29, 2008