Even good financial habits still need to be examined from time to time. We still need to take inventory of what we have, where we are and where we are trying to go financially. That is how we grow. Repetition without reflection can lead to disappointment and lack. For example, let’s say your friend Grace realized at 25 years old that she needed an emergency fund. So she started putting $50 aside per week for that purpose. Great! She has been blessed to have few emergencies and now she is 29 years old with about $10,000 in her emergency fund. So where does the disappointment and lack enter the picture? Well Grace is only saving which was great at 25. However at 29 she is not focusing on cleaning up her credit or paying down her college debt or setting aside some of that cash for a down payment on a home. That means that her dream of home ownership may stay a dream or be deferred. Now comes disappointment and lack. Grace is disappointed because after all that hard work and discipline she still didn’t get what she really wanted and she lacks the right financial equation to equal home ownership.

Reflection does two very important things. It helps to keep you on track with your goals and helps you to balance your spending based on your greatest life needs and wants. Reflection helps to keep you on the road to abundance.

The definition of Abundance is “a great or plentiful amount; fullness to overflowing and affluence, wealth.” However most of us believe that in order to have more we must earn more, not so. In order to have more we must successfully manage the money coming in, for example our paychecks. You have the ability to live a more abundant life right where you are by becoming mindful of how you use your money. Saving is one slice but it is not the whole pie. You have to decide on where you want to go in your life.  You must know in your heart and mind what abundance will look like in your life. Only then you go about financially planning for it. You money is the gas to get you where you need to go so you have to have a direction.

You can have more by thinking ahead, prioritizing and cutting the fat from your financial diet. If you don’t have a budget, develop one. If you already have one, look it over to make sure it is still meeting your needs and helping you to meet your goals. But the very first thing you need to do is pick a direction for your abundant life to take. Only then can you plan out how to pay for it.

Tanai M. Coleman

Your Money Is A Tool. Are You Using It Wisely?

"And we know that all things work together for the good to them that love God, to them who are called according to His purpose.

For whom he did foreknow, he also did predestinate to be conformed to the image of his Son, that he might be the firstborn among many brethren.

Moreover whom he did predestinate, them he also called, them he also justified and whom he justified, them he also glorified."

I have two very important questions to ask you. Do you love God? Did He call you? If you answered yes to both of these questions you should be feeling very relieved right about now. The bible says that if you love God and He called you, then all (not some) things will "work together for good". Yeah for us!!! Now let's dig a little deeper. The word 'good' as it reads here refers to God's greater good. Many of us (including me) have read this and believed that it only meant that everything would work out in our favor. Meaning that we would get the job, house or promotion. Sometimes that is very true. Things do work out in our favor. We are believers. They are supposed to as long as we follow the leading of Christ in our actions. However sometimes we don't get the immediate result we are looking for and we end up discouraged. This happens because many of us don't understand the B side of "all things work together for good". Well here it is. God the Father knows what we truly need, want and desire. He knows the boss on that job we wanted would have been very abusive toward us. So he caused them to choose another candidate to protect us. He knows the house you may have wanted has termites and a leaky roof. He also knew no one would tell you that, so he allowed you to be outbid by another buyer. Sometimes things working together for good means that our Father has to protect us not only from ourselves but from the unknown and from heading in directions that will bring us unnecessary pain. Most parents know that love means telling your children no as well as yes. God also knows his purpose for you. He knows why he sent you here. So if you pray and ask God for permission to go in a particular direction and He says no, realize His answer is based purely on His love for you.

But Tanai, what about the other 2 verses? 

Well, you tell me! What do you have to say about the other verses? When you read it how did the Holy Spirit enlighten you? Please share with me and your fellow readers what you got out of your study of this scripture. I know I would love to here it! We are a body of believers and each one of us has a part. You read my part.......where's yours???

This post will be open for comments until next month's issue of Money Mastery News is released. If you would like to recieve this powerful newsletter in your inbox, you may subscribe here.

Session 1: Are You Holding Yourself In Contempt

Session 2: Understanding Your Statements

Session 3: Assessing Needs Setting Goals (Individual Consultation)

Session 4: Reading and Understanding The Fine Print

Session 5: In Whose Interest Is Interest?

Session 6: Who Are You Paying and How Much?

Session 7: Insurance 101

Session 8: Does Your Money Have A Mission?

Session 9: Saving 101

Session 10: Budgeting 101

Session 11: A Winning Budget Needs A Winning System

Session 12: Goal Review and Revision (Individual Consultation)

Session 13: Graduation (provided at no charge)

General Information:

Here Are Some of the Details:

The students' $25 per session / per student tuition covers all materials.

Payment is always due before the beginning of each session. I prefer to deal only with the group leader for the collection of tuition.

At least one week's notice is needed to reschedule a class session. If less notice is given I reserve the right to reschedule the session based on my availability and convenience within reason.

Arrangements can easily be made to teach this class via webinar and conference call for groups that are out of state. All materials can be downloaded and printed by students in the comfort of their home. I can also send class textbooks to each student if this is a more convenient option for your group. Please be aware that with this option, there is an additional fee for postage and handling.

Next Steps:

By now I hope you are excited about the Program and what it can do to help the women in your church prosper financially. So what's the next step you need to take to bring this program to your church? It's easy. Just call or email me. I would be delighted to discuss working with you.

Tanai M. Coleman
(914) 502 - 7120
TMCFinancialConsulting@gmail.com

Still Not Sure? Keep Reading............

1. Click Here to check out Who I Am

2. Click Here to check out My Teaching Method

This is a prayer for those of us who know in the quietness of our hearts or by the results we have seen that we have not handled our money properly. I encourage you to take a moment to receive God's change and everlasting love into your life. Remember, before you are a minister or business owner, you are your Father's child. If you can't go to your Father and tell Him you need help then the relationship itself needs repair. Know that your Dad is not angry with you. Remember God loves you and and wants the very best for you.

"Beloved, I wish above all things that thou mayest prosper and be in health, even as thy soul prospereth" 3John 1:2

Lord,

I love you and I need you. I lift your name on high and I thank you for the opportunity to come before you and lay any and every issue financial or otherwise on your altar. I lift my finances up to you at this moment and I ask your forgiveness. I have not successfully managed my money and I admit that to you oh Lord. I know you forgive me Lord but help me to forgive myself. Help me to learn from my mistakes and move on. I am choosing today Lord to try again to succeed and honor you with my finances. Help me to be a faithful tither. Help me to be a cheerful giver. Teach me how to use money as the tool you intended it to be. Help me Lord not to be afraid of money or the power you gave me over it. As my Lord and Savior you have given me dominion to rule within my sphere of influence. Help me to be a wise ruler. Lord I pray that you would give me the confidence to share the wisdom you have allowed me to gain from the mistakes I've made. Don't let me keep it to myself. Use me to help others avoid the financial traps I have fallen into. Lord I ask that you would restore my finances and help me to change any bad financial habits I have picked up over the years. Thank you Lord for loving me and helping me walk step by step through this process. I praise you in advance for my breakthrough and my new beginning. I match my faith with your power and I expect change.

I pray all these things in the matchless name of Jesus Christ who lived, was crucified unto death, rose again with all power and now sits at the right hand of the Father making constant intercession for me and my fellow brothers and sisters in Christ. It is in his mighty name I confidently pray,

First things first. If you are the bride to be then CONGRATULATIONS  on your recent engagement!

1. What kind of wedding is going to make me and my groom the most satisfied and fulfilled?

You may think you want to get married in a big church with every person you've ever met looking on but if making that happen makes you and your groom stressed out and snippy toward each other until the day of the wedding, is it worth it?

2. Do we want a honeymoon? If so what kind and where?

Different couples have different priorities. Those couples that want to go all out on their honeymoon accomodations need to plan for that when budgeting for the wedding. If a honeymoon is not that important to you and your fiance, then that could be money put toward your wedding budget or a savings account for after you are married.

3. Where do we want to get married?

Location. Location. Location. Justice of the Peace. A local church. A wedding hall. The options are endless. Think about what you want your location to do for you. Will it serve as the reception hall as well or is that going to be at another location? Really think strategically about how your location is going to fit into your vision.

4. How many people do we as a couple want to attend our wedding?

The more people you have at your wedding the higher the bill is going to be. Ask yourself this question. Is everyone on my guest list someone that I would want to call up and invite to a casual dinner? If the answer is no then I want you to ask yourself why you would invite someone to one of the most important events of your life if on a normal day you wouldn't want to be in their company. Somewhat harsh, but worth thinking about.

5. How much can we afford to spend?

Finally we arrive at the million dollar question. The answer however is going to be different for everyone reading this. The key is to look know where not to look for money to fund your wedding. Don't look at the account that has the bill money because that money is already assigned. Don't look at any money in your savings account that already has a purpose (for example house down payment). Here's where you should look. Take a look at all of the places in your budget where there is wasteful spending, that's first. Then sit down with your fiance and decide on how much incoming money can be dedicated to this upcoming wedding project. Once the two of you decide on an amount to contribute on a regular basis look back at the previous four questions and see if the amount you have decided to save is going to cover those ad the other items on your list. If the money won't cover it, you have to do one of four things:  

A. Edit your dream. See what you can must have and what you can live without.

B. Edit your budget. If you decide it is worth it and it won't hurt your household's regular bills increase between you and your fiance how much each of you will contribute to the wedding budget pot.

C. Choose your vendors wisely. Don't sacrifice quality but find better, smarter vendors who are willing to negotiate by doing your due diligence.

D. Do a little of all of the above. The key to compromise is moderation. You need to be happy with your event when you finally see it all come together.

Rule #4

Remember as wonderful and special as this long awaited event is, it is called a wedding day for a reason. In 24 short hours it will be over. Remember what is important. The family you will create by saying I DO is really the most important thing. Financial stress is one of the main reasons married couples fight and get divorced. Start out on a good foot by thinking soberly about your day and your day after. Use your creativity to create the fabulous wedding of your dreams for less money than you thought possible.

1. Put God First

It may sound strange and unrelated but it's true. We give honor to people in various positions all the time without even realizing it. Our Supervisors, Pastors, Police Officers and the like, get our attention and cooperation fairly easily. Why not honor the God who created everything, including us. He only asks for a tenth. Give it to Him. What God gives you in return is so much more.

"Thus speak unto the Levites, and say unto them, When ye take of the children of Israel the tithes which I have given you from them for your inheritance, then ye shall offer up an heave offering of it for the LORD, even a tenth part of the tithe."
Numbers 18:26

2. Put Yourself Next

You've paid your tithes, now what?

Pay yourself next. You have given God portion now be sure to pay yourself at least 10 percent. Life is cyclical and in good times you need to be putting away at least a portion of your increase into a savings account for a rainy day. Use this 10 percent to build up a cushion that will cover all of your expenses for at least three months in the event of unexpected unemployment.

3. Be An Eagle Not An Ostrich

Never take an ostrich's approach to your finances. They hide their head in the ground at the site of danger. Take the eagle's approach. They soar high above their prey, and swoop down at just the right time to attack. Eagle's act as aggressors in confrontation. I encourage you to be an eagle when creditors call. Be an eagle when you are behind on your mortgage. Be an eagle when you need to negotiate a payment plan with Visa. Hiding only helps interest to accrue against you. Don't hide from your financial problems, face them.

4. Control Your Credit. Don't Let Credit Your Credit Control You.

If you are standing at the register and you know that you don't have the money to pay off what you are about to charge on your credit card by the time the bill arrives, PUT THE ITEM BACK. That is part of what it means to control your credit. Don't let a desire of things and / or a lack of proper budgeting cause you to spend money you don't have. It is very important that you remember that if you use your credit card and can't pay it off, you are borrowing money from your future. You are spending money you haven't earned yet and putting your financial future at risk.

5.  Keep Your Word

For most of the monthly bills you have now you had to agree to pay a certain amount per month by a certain date in order to receive that service or product. I encourage you to keep your word by paying these obligations on time to the best of your ability. Just like with people, when you keep your word with vendors you build credibility with them. This opens the door for exclusive discounts and it will also help you to improve your credit. Late payments on your credit report can be very damaging. Being seen as a reliable customer has its benefits. Not to mention that you will be able to sleep better at night knowing your bills are paid.

If you can do these five things you will be well on your way to a better financial lifestyle. It is the little habits that we don't think are very important that actually turn out to be crucial to living a healthy financial life. There are many more components to successfully managing your finances but let's just take one step at a time.

You may not know the name Frank Fedie, but he is making history. You may not have ever heard of Wisconsin Dells High School, but their administrators are considering a very important decision. Frank teaches personal finance to high school students and the school administration is considering making the class mandatory.

"The personal finance class at
Wisconsin Dells High School is already popular, but administrators now
want to make it mandatory.  The school board is considering the idea
starting with this year's entering freshmen class. The course covers banking, budgeting, loans, stock markets, and more."

Ask yourself, what is one thing you can start doing or stop doing TODAY that can help you and your children live better tomorrow?

Is it Bills?

Is it Unexpected Expenses?

Is it Lack of Planning / Budgeting?

Is it Lack of Discipline?

THINK ABOUT IT............

LEAVE A COMMENT ON IT................

THEN COME BACK NEXT WEEK TO SEE A WAY YOU CAN...............

START SAVING NOW!

THE TERM INTEREST IS DEFINED AS......
 

1. The charge for the privilege of borrowing money, typically expressed as an annual percentage rate.
2. The amount of ownership a stockholder has in a company, usually expressed as a percentage.