We all want our children and grandchildren to be successful in life. Often this translates to a college degree, but a degree doesn’t ensure success or even a job these days.

Encourage your child to really understand the costs and benefits of a BA or BS. There are alternative to college to consider

How Much Does College Cost?

The cost of attending a traditional 4 year college is increasing every year, making saving for college a priority for many parents. [Don't forget to fund your retirement before funding your kid's college.]

Just how much does it cost to attend college? A lot! Use this handy college search tool to determine the cost of tuition, books, room & board for your school of choice.

I did a search for my alma mater Auburn University.

You can also adjust the tab to your appropriate income level.

According to FinAid, the inflation rate for college tuition is double the general inflation rate of around 2%-4% of recent years.

Use this guide to determine how much you’ll need to earn on your college savings fund:

• Conservative: 3%-5%
• Moderate 5%-7%
• Aggressive 7%-9%
• Very Aggressive 9%-12%+

Graduation. Celebration. Endless possibilites. New doors opening, old ones closing. I find myself trying to remember what it was like to have just graduated from high school and have your whole life ahead of you.

There is a lot about life and money that I’ve learned since high school gradation. In that light I will offer up a bit of advice for those 17-19 year olds entering into a new era of their lives.

Wisdom and Experience

In life there are two general ways to learn. Experience and wisdom. Experience is a tough teacher that often times includes bumps, heartaches, and empty wallets.

“Experience is a hard teacher because she gives the test first, the lesson afterwards.”-Vernon Sanders Law (Major League Pitcher)

Wisdom is the ability to learn a truth without having gone through an experience.

Having a good mix of wisdom and experience when it comes to financial matters will give both knowledge and motivation to stay on the right path.

Financial Wisdom for High School Graduates

1. Save- Pay cash for items. Save up or don’t buy it. These are great years to learn how to practice the art of savings. Start with an emergency fund to stay out of debt.

2. Work Hard- A bit of hustle can go a long way. You’ll find that if you work hard you’ll end up ahead of your peers that are smarter than you. Whether it is on a job or in the classroom (hopefully both), learn the value of hard work.

“Opportunity is missed by most people because it is dressed in overalls and looks like work.”- Thomas Edison

3. Solve Problems- Find the needs around you and solve them. If you solve others problems you’ll be rich in purpose and/or monetary gain. The marketplace will pay handsomely to those who solve our problems.

4. Create- With most activities in life you can either create or consume. Err to the side of creation and you’ll be a rich person. Why not start a blog to begin creating today?

5. Give- Giving of your time and money will keep humbleness near. Developing an early practice of giving will ensure you have the character needed to handle responsibility and riches.

“We make a living by what we get, we make a life by what we give.”-Winston Churchill

6. Avoid Debt- Fight tooth and nail to avoid debt. There is always another path besides debt, yes even college or med school.  The path to avoid debt is harder in the moment, but in the end you’re free and slave to no one.

• College Debt- Going to college can pay off in the long run, but you can attain a degree without debt. Debt-Free U is a book that can show you how. Having a college degree won’t ensure a job or career that you’ll love.  There are alternatives to college and learning if you’re interested in why I’m not sending my son to college.  
• Credit Card Debt- The average college graduate has $4,000 of college debt. You can make it through life without debt by learning how to budget.

“The rich rules over the poor, and the borrower is the slave of the lender.”-Proverbs 22:7 (ESV)

7. Find your own Path- Recent graduate, you’ll hear a lot of advice–even from me. Most of it is good, but you’ll have to decide for yourself. It is your life to live, not your parents, not your significant other, not society. Heed wisdom, but forge your own way.

8. Explore Your passions- The richest people are doing something they enjoy + meeting needs (#3 above) the needs of others. Find your passions, focus on your strengths and make a difference.

9. Start a Business- You are never too young to start a business. Learning how to sell, market, bookkeeping, etc will help you for the rest of your life. You might even start your dream job without needing to go to college. Did you know you can start a business for $100?

10. Improve your Character- Your character is more important than money. Oddly enough many people of character have wealth. Find ways to improve your character. Start with the Proverbs. There are 30 short chapters, so you could read 1 per day. No matter if you are religious or not, there is wisdom that will improve your character and finances.

11. Did I mention avoiding debt? I hear horror stories of how debt has ruined lives in my coaching practice. Please graduate, learn wisdom, avoid debt, and choose freedom.

What do you wish you would have known about finances when graduating high school? 

Photo Credit  dotpolka

I’m happily heading back to the land of cubicles. Credit mark sebastian

Today I accepted a verbal offer for a 9-5 position in the land of cubicles.

What?!

Yes, I’ll be kissing the freelancing life goodbye, but I won’t be giving up on this blog–in fact I believe my new career will help enhance this site.

What will I be doing? I’ve accepted a position with a large search publishing/advertising company’s Search Engine Optimization (SEO) department.

I’ll be building relationships and links (white hat and natural only) to help websites rank higher in Internet searches and thus have more eyeballs reading their articles and buying their products.

What? Why Would You Leave the Freelance Life?

I know it is all the rage to flee the cubes to graze in greener self employment pastures.

Why would I leave the self-employment life?

I love the freedom and flexibility self employment affords and especially the time that I’ve been able to spend with family.

I view this position as a natural next step to what I’ve been doing for the past few years.

How My Freelancing Work Earned Me a 9-5 Cubicle

For the past few years I’ve been on a quest to learn about blogging; both the back-end technical aspects and my visible content and writing ability.

Beyond creating OnTargetCoach, I’ve also taken on a staff writing position and an SEO contract gig

In a sense I’ve been preparing to take such a 9-5 position for years–I just didn’t realize it.

Remember when I quit my job and turned in my 2 weeks notice in 2011?

By leaving a job that was killing my creativity and following my freelancing dreams, it has lead me full circle back to a 9-5 job that I’m really looking forward to.

What I’m Looking Forward to by Returning to a Cube

9-5 gigs aren’t all that bad. He is what I’m looking forward to:

Live people- I’ve a good number of online friends, but I’ve never met any of them. I look forward to working with real people again an not just interacting with screen names. 
Nerds who “get me”- Technically I’ll be in the IT department, so I’m officially a nerd.

In my interview I threw around blogging and tech jargon and these guys didn’t blink an eye.  I didn’t have to apologize for geeking out like I have to a parties when I talk about blogging. They understood.

Paid to Learn, Paid to Help- I’ll be paid to learn the best practices of SEO and help my clients understand the weird world of internet search.

And Now Back to the News

I’ll keep everyone updated on how things progress with my new position. Until then get back to winning with your goals, relationships, and money.

Where are you career wise? Moving towards or away from cube life?

NFL draftees have been dreaming about this day since they were young. Credit Amherst Patriots.

An Open Letter to the NFL Class of 2013:

You made it! Years of hard work, sweat, dedication, sacrifice, and determination has put you where you’ve dreamed about being since you were little boy playing backyard football–a member of the NFL.

You are now part of an elite club of super athletes that garners the attention, admiration, and money of the world.

Children and old men alike will up to you for hope, entertainment, and inspiration. You are now a modern day gladiator whose every decision on an off the field will be scrutinized under a microscope.

This is a pressure cooker that requires not only character and skill, but wisdom to handle your new NFL career.

A Bit of Life Wisdom for NFL Class of 2013

If any of the 255 members of NFL class of 2013 read this I’ll be shocked, but if you are reading I believe this advice could help you along the way.

1. You Are a Role Model- Don’t become confused along the way as your once common place name becomes a household name.

Don’t say that you didn’t ask to be role model as an excuse to make poor decisions.

In reality you’ve been a role model for years as you’ve lead your team(s) to championships and victories.

You ARE a role model for young and old alike–especially for those whose city you now wear on the back of your jersey.

2. Be a Real Man- You are one of the fastest and strongest guys in the world. But are you a real man?

A real man respects others: teammates, women, and even opponents. A real man respects himself and avoids addictive behavior.

A real man has faith that is deeply personal and attractive to others.

A real man admits his mistakes and asks for help when he’s headed in the wrong direction.

3. Give More Than You Take- This might be common place for many of you draftees, but for others you’ve been struggling for so long that you’ve lost the art of giving.

Give.

Give to the community. Give to your teammates. Give to the world.

Give not only your money, but your time, energy, and emotions to causes bigger than yourself.

4. Marry Well- Find a woman who doesn’t just want you for money or fame. Find a wife who will inspire you to be a better man.

This decision on whom to marry is the second biggest decision of your life. Don’t take it lightly.

Financial Wisdom for NFL Draftees

Not only do you get to play a sport you love, but you are paid–and paid well. It’s a bit like winning the lottery.

This financial incentive comes with its own set of rewards and responsibility–a lesson that 78% of your NFL predecessors have failed at learning.

Below are 8 nuggets of financial wisdom that would make this incoming NFL class the most financially successful class to date.

1. Save Your Signing Bonus- Yes, I said save. Don’t touch it. If you need to take a small amount to live off of until you receive your first check, then do that–but save the rest.

This signing bonus isn’t mad money to blow. It is your beginning retirement fund.

2. Retirement is one Tackle Away- The average NFL career last between 3-6 years depending on whose stats you use. This ride won’t last forever, so financially plan on this.

Make a plan early in your career on what you’ll do after the NFL and how you’ll fund that dream.

3. Make a Budget- This might seem silly since you’re making more money than you ever dreamed, but a budget will help you reach your goals–you’ll just have more 0′s on the end of your numbers than the average joe.

4. Learn How Money Works- Chances are you’re like most Americans haven’t a clue how money works. Take a class on finances like FPU, read books about finances, and learn for yourself.

5. Find a Financial Mentor- You need someone to give it to you straight. Someone who won’t stand to profit from your financial investments. I’d use someone like Chis Hogan if I had the chance.

6. Handle Your Business- Know what is happening with your money. Don’t trust some family member selling insurance for advice, nor trust your brother in law to handle your assets.

Have a monthly profit and loss statement that is reviewed by yourself, along with your tax professional and other trusted financial advisors.

7. Run Away From Schemers and Fast Money- You are now on the hit list for scammers, financial quacks, and people with ideas on how to make fast money.

Chances are if someone approaches you with an investment idea–they are scam artists or mislead at best. Seek out your own financial advisors and shut those out who seek you first.

8. Avoid Debt- This is true for all of us, but you now have the ability to qualify for Jumbo Home Loans which could lead to serious problems if your career ends. Flee from debt and investments that enslave you to debt.

Final Thoughts to the NFL Class of 2013

I hope at least 1 of the 255 draftees find this, or maybe one of their relatives. These pearls of wisdom will help ensure that your years of hard work won’t end up in bankruptcy and heartache.

If you’re not one of the 255 ESPN NFL Draft picks, what advice do you have for future NFL players? 

Can you live stress free?

Stress is a part of our everyday lives. Stress causes us to react out of fear to preserve our lives. We don’t have sabertooth tigers chasing us anymore, but the stress mechanism remains.

Long term stress can cause serious health problems: heart disease, sleep problems, digestive problems, depression, obesity, memory impairment, and I’m sure others that haven’t been discovered yet.

If you’re like me, money has be one the top stressors in my life. I’ve learned to reduce financial stress and hope I can help reduce yours too.

Causes of Financial Stress

1) Lack of Income- Not having enough income is frustrating. Being laid off or not able to find a job that pays the bills is frustrating. I’ve been there.

Finding a part-time job while you are searching for full time employment might be a short term solution. Ultimately you’ll need to find something you love doing that pays the bills. These books have helped me with career questions and finding work I love: No More Dreaded Mondays and The $100 Startup.

2) Debt- Debt weighs you down and causes stress, especially when bills keep coming in. Bill collectors only add to your stress level.

Find a plan to deal with your debt will reduce your stress. I’ve seen it happen with friends and clients.

3) Wind in the air budgeting- Determining the wind direction with a wet finger isn’t an accurate method, yet many budget their money with this method. Ditch the best guess method and learn how to budget like a pro.

4) “It’s all up to me.” mentality- Believing that your financial future is all up to you can cause stress. Don’t get me wrong I am a strong advocate of personal responsibility and hard work–I do however recognize there is a spiritual aspect to money and life.

I’ve found that trusting God with my finances and the future has relieved much stress in my life. This is a daily practice and a perspective I have to remind myself of when I feel stress creeping in.

Dealing With Stress

The effects of stress are not enjoyable and our relationships will suffer. Coping with stress and stress management are short term solutions At some point you’ll need to deal with the root causes of stress.

If you need financial help, consult an counselor and/or clergy member to discuss the root causes and find solutions. If I can help, contact me directly with your questions.

Let’s reduce our financial stress and move towards financial peace.

Photo Credit programwitch

Does money stress you out? How do you deal with these financial pressures? 

Photo Credit HRC

Shh… American Airlines has a secret program for expired miles. Credit Daniela Vladimirova

Do American Airlines miles expire? Yes, If you have no qualifying activity in an 18 month period those miles are toast.

BUT I can show you how to restore those “lost” miles on the cheap with a secret program.

My wife and I racked a good number of AA miles flying from California to visit family and also flying around the world when we were single.

Due to Southwest’s Bags Fly Free program and generally cheaper prices we’ve stopped flying American Airlines and our accounts became inactive.

Thanks to my wife’s persistence we learned about one of their secrets. (Side tip: Marry a frugal spouse!)

They have a secret program code named the American Airlines Re-engagement Challenge that can’t be found on their website.

American Airlines Re-engagement Challenge

You’ll have to actually call their hot-line and talk to a real live person. (1-800-882-8880)

Explain the situation of your lost miles and ask if there is any way to revive those miles. If they aren’t helpful ask about their Reengagement Challenge.

They might be shocked that you are such a knowledgeable insider–just don’t tell them where you heard about it or they might come after me and my AA miles.

ReEngagement Challenge Details: How Does it Work?

Simple really. I’ll share the bullet points. If you want to see the details click Reengage AA Miles.

• Agree to sign up for two email lists for the length of your re-engagement challenge without unsubscribing.
  
• Pay $30 over the phone.
• Fly on 1 round trip flight on American Airlines, British Airways, Iberia, or Japan Airlines within 6 months OR
• Earn 5,000-7,000 base partner miles to revive up to 50,000-75,000 expired miles. (This seems tricky since many programs for earning are exempted from the Re-Engagement Challenge)
• To restore 75,000+ miles you’ll need to fly on 2 round trip flights in 6 months or earn 10,000 base partner miles.

If you have enough miles to redeem American Airlines miles for a free ticket (12.5 one way for EconomyMileSAAver program, 25K miles for round trip), AND have a plan for earning the miles–Only then you should consider coughing up the $30 for the Re-Engagement Challenge. 

We both have near the 25K needed for a free flight and an upcoming AA flight will push us over the ledge, so we choose to pay $60 total to reactivate both accounts.

On a side note we learned one way to keep your AA miles active is to donate 1,000 miles to one of their active nonprofit listed on their site every year.

Have your American Airlines miles expired? Will you start the Re-Engagement Challenge to revive those expired miles? 

Happy Tax Day! Credit brianjmatis

Happy Tax Day! Wait you remembered to file your taxes for 2012 right?! You have until tonight to file your taxes or file an extension for 2012. [Tax Deadlines for 2013]

At the second I write this, we’re waiting to hear back from our tax professional if we need to file an extension or if we’re in the clear. Update: We ended up filing an extension for the first time ever since we didn’t get our tax guy the papers till Friday.

In our defense we are still living in suitcases and boxes while we remodel our new place.

I thought I’d share some cool Tax Day Resources if you’re still getting crazy with your calculator and Turbo Tax.

Tax Day Free Stuff

Free Paper Shredding and Copying at Office Depot on Tax Day- Thanks Living on the Cheap for making us aware!

The Penny Pinchin’ Mom has a good list too for tax day deals too, along with list from Huffington Post.

Coupon for tax relief Arby’s Fries

Tax Day Resources

What Happens if I Don’t Pay My Taxes? 

What Happens if You Miss the Tax Deadline + How to File a Tax Extension

15 Ways to Spend a Tax Refund Traditional and Non-Traditional Ideas

Why Getting a Large Tax Refund is Bad

Oops! I Made a Mistake on My Tax Return, but I Already Filed. Now What? 

How are you feeling on Tax Day 2013? 

Is it time to clean out your Costanza Wallet? Credit shareski

I’ve been a fan of the trifold wallet since I started carrying one back as a wee lad.

The trifold is nothing special, it’s just what I grew up and what is comfortable to me…that is until it becomes so fat that I can’t have it in my pocket.

“This is an organizer, a secretary, and a friend.”- George Costanza

That makes me begin to wonder: What is in my wallet? In homage of Spring Cleaning. It’s time to clean out the ole’ wallet. For you voyeurs, this should be fun.

A Catalogue of What’s in My Wallet

I have to make this wallet thinner. I’ll put a Trash to those items I’m taking out.

Inside the folds

• $40 in mostly one dollar bills that I have saved for garage sale season.
• $1.26 left over for money to spend on my wife. (We budget cash to spend on each other each money)
• My new address listed on sticky note.

Left Fold

• ING relic debit card that will soon be replaced I’m sure [RIP ING Direct...].
• XX bank debit card
• Insurance card
• Best Buy Rewards Card Trash
• REI Member Card
• Safeway Club card Trash
• Old insurance card Trash
• Costco Card- I can trash this when our membership expires.

Middle Fold

• Drivers License
• Picture of my wife
• Picture of my son as baby
• Stash of old receipts
• 4 OTC business cards

Right Fold

• Starbucks Gold card–yes I like coffee.
• Business Debit card
• Old McDonald’s Gift Card Trash
• Panera Bread card
• HSA debit card
• AAA card

What’s missing?

• Current insurance card-doh!
• My lunch money, mad money, and couples spending money for the new month. Time to check YNAB to see how much to withdraw.

Sorry, nothing too exciting or revealing. I was able to ditch a few items, but most are essentials.

I’ll need to investigate an app that stores my reward card numbers. Any suggestions?

Now it’s your turn to Spring Clean your wallet or pocketbook.

What’s in your wallet? What could/should you take out. 

Helpful Articles on Cleaning Your Wallet

• 6 Things to Keep in your Wallet
• 5 Things You Should Never Keep in Your Wallet or Purse
• The Digital Wallet and Future Payments (Infographic)
• Don’t Sit on Your Wallet: Ergonomic Tips for Your Back

It was 2008. We had been married for 4 years and had a one year old daughter.

And we were in debt. A lot of debt.

At one point, my husband calculated that all of our debt combined was $90,000. We tried to avoid using our credit cards as much as possible, but things would just pop up. Things like moving expenses, flights back east to visit family, and the occasional (read: frequent) meals out. The really bad part was just 4 years before, we had been in debt to credit cards $20,000 and had paid them off! This $90,000 was an entirely new set of debt. Ouch.

We had heard some friends (On Target Coach and his sweet wife) talk about Dave Ramsey’s Financial Peace University course and decided to sign up for the next session they were hosting. We signed right up (because deep down we knew it was baaaad). We got there for that first class, pencils and workbooks in hand and smugly settled in to do some light reflection and learn about budgeting. Maybe learn how to become millionaires next week…boy were we in for it!

Taking the First Steps

Toward the end of that first month and after drinking the Dave Ramsey Kool-aid, we made a decision to cut up all our credit cards. Yup, all of them. The funny thing is, when you don’t have a credit card handy at a store? You won’t use it. Funny, huh? After the Epic Cutting of the Cards, we somehow stowed away $1000 into an emergency fund. And then the Great Long Haul started. That is: paying off debt.

I clearly remember Ramsey saying that most couples will be able to pay down their debt (using his Debt Snowball procedure) in an average of 18-24 months. I also clearly remember saying “We will literally never get this debt paid off in 24 months. Uh-uh, no way.”

But we worked and worked and my husband kept the faith for me when I despaired. A friend gave me a ton of old text books which I started selling on Amazon for a couple of bucks profit per book. I ended up making about $5500 in about 4-5 months and paid off one credit card. But it felt so good! My husband’s income was going for all the essentials, the “four walls” Ramsey talks about. I was teaching piano and much of my piano money would go toward paying something down.

A Tight Spot: Debt Free Journey

In May of 2009, we found ourselves in a really tight spot. Namely, no money. At all. Ninety six cents sat in our checking account on May 1st when rent was due. We knew we would get a payment from my husband’s work on the 15th. He is self-employed and has irregular income. No steady checks for us! That left two weeks in which we were supposed to somehow pay rent, eat, and pay utilities-all without a credit card. It was a very humbling time.

We had to call our landlords and ask for an extension on our rent which they graciously gave us. I signed up for LA’s ReUseIt community where material items are exchanged among the community rather than buying new. But by May 14th, we were down to nothing in the fridge.

I knew that I must maintain a cheerful attitude for fear that if I didn’t, I would crumble. I got out our jar full of coins and counted out about 6 dollars in change. I took our daughter, Emma (19 months old) to the grocery store and managed to buy generic brand Cheerios, a pint of strawberries and a half gallon of milk. This would have to do!

When I got home, I heard from a friend (she knew what we were going through) who said she was going to drop off some fruit and diapers for us. I was ecstatic! What a blessing! Although I nearly fell to the floor when she showed up about an hour later, not with just fruit and diapers, but with fruit, diapers, and about $300 worth of groceries. No generic stuff here, everything she had bought was name brand. We were floored. This debt free journey had turned out to be WAY more than we expected.

Oh, and the ninety six cents in checking? Stayed there for 15 days. No “whoops!” overdrafts and no using our debit card. Miraculous really.

By the end of 2009, we had gone through the hardest year of our marriage yet, but we had almost paid off our credit cards. Now it was on to paying off our car and our student loans. Oh yes, student loans. Debt doesn’t stop at credit cards and cars.

Becoming a Debt Free Family

By 2010, we were a bit obsessive about not having debt.Sometimes, I would even tell the cashier at Target or Kohl’s,

“Nope, I don’t want a credit card…we are a debt free family.”

Self-righteous? Maybe a bit, but it helped focus me and put our family’s goals first. Halfway through the year, our second child was born, a son, Noah whose name appropriately means Peace. My husband’s company began doing very well in sales and around December of 2010, we sent our last lump sum payment to Toyota Financial, paying off our car.

The next month, January 2011, we sent our last payments off to our student loans and (GULP) we were officially debt free. It took exactly 24 months to shave away at our debt.

We then kept right on going, completing our emergency fund and starting to save for a down payment for a house. In June of 2012 (with a third baby at 3 months old), we bought our dream house. We didn’t buy it with 100% cash, I mean, we live in LA-come on!!!

We were able to put down a good down payment, securing both a great interest rate and a great loan. When we were signing THE STACK (and by stack I mean 10 inches of paper piled up) of papers to close escrow on the house, there was one section where it was supposed to list our liabilities.

The woman guiding us through all the signing looked at the blank space and then up at us. “You don’t have any debt? No liabilities? I’ve never seen that before.” My husband and I looked at each other, chuckled, then shook our heads “no” as we both remembered buying groceries with coins, selling books, doing a yard sale, and trying to paint a baby nursery for under $4 dollars.

I won’t for one second say that our debt free journey has been easy. But I will say that all that work we put in combined with the support of many loving, caring, praying friends was totally worth it. Our marriage is stronger, our children are more secure, and we are able to give so much more to those who need it more than us.

Your Turn to Become Debt Free

Feel inspired? [Read more debt free stories] You can become debt free too!

Sign up for Financial Peace University in your town or start your own debt free journey learning how to pay off debt.

Time to begin your journey! Credit stevendepolo

Seriously what are you waiting for? The time for excuses and procrastination has ended.

Did you make New Years resolutions that fizzled out before Valentines Day?

The time to act is now!

Small Steps Matter

No matter whether your goal is to be debt free, loose 30 pounds, or do a muscle up (mine)–take a small step today towards that goal.

Small steps really matter. Think you can beat $100,000 of debt in one day? No way! It will take years, but if you don’t start today, then your journey will never begin.

My friends, it’s time to begin or restart that journey. You know what it is. You know the goal you’ve been neglecting.

Take a step today. One pushup. One dollar saved. One less TV program watched. One more pull up. One dollar budgeted.

Take a step. What are you waiting for?

Start Your Journey Today

Below are few good resources for starting a solid financial journey today!

Financial: 

• Becoming Debt Free
• Learning How to Budget
• Writing a Will
• Buying Life Insurance
• Buying A Home
• Saving for Retirement

What step do you need to take today? Ready. Set. Go!