How’s Your Financial Health?

 

During the month of January we will continue our focus on finance.  Here is a little food for financial thought.

Most of us have a general idea of our height and weight. Some of us know our blood pressure and cholesterol level. Those of us that are really health conscious may even know our Body Mass Index, or BMI and our Fat Index.

How many of us know our credit scores? How many of us know our debt ratio? How many of us know how much disposable income we actually have?

Just as most of us are aware of some of our physical statistics we should be just as aware of our financial statistics.

Our financial wellbeing is just as important as our physical well being. Did you know financial stress is often manifested physically?

Financial worries can cause headaches, fatigue; even a lowered immune system.

If untreated financial stress may result in reduced productivity or a reduction in activity on or off of the job.  You may be distracted by calls from creditors. You may not be completely focused on the tasks at hand. You may need to slip away at work to make a phone call that can only be made during business hours. Your mind may be fixated on how you are going to make ends meet. You may be embarrassed because you can’t afford to go to dinner, a movie or shopping with friends.

Are you postponing doctors or dentists visits because you can’t afford them? Maybe some of you aren’t taking all of your prescribed medications because of the costs.

 

Do you choose between buying groceries and paying the utility bills? Do you neglect regular maintenance on your cars, or drive on tires that should be replaced?

Maybe none of this applies to you. Perhaps your income is sufficient but you can’t figure out where your money goes each month.

Are you in need of a financial checkup? Do you want to be in Optimal Financial Health?

Being in Optimal Financial Health means:

·         knowing your credit score and having a credit score which enables you to receive the best interest rates when applying for credit*

·         setting and living by a budget

·         having a financial plan

 

*I am not an advocate of credit however, not everyone is able to make larger purchases such as automobiles and homes with cash. Credit should always be used responsibly.

If you are interested in being in Optimal Financial Health contact me at gretahillman@gmail.com group and personal consultations are available as well a self study program.

 

Don’t Let Your Mind Defeat You

God has not given us a spirit of fear, but of power, and of love and of a sound mind. Last week’s blog was on reflection, reflecting on your finances, your budget, and your saving habits. Some of you may have already started saving your receipts, requested a copy of your credit report and are on your way to a financially savvy 2014. Congratulations for taking those steps!

Others of you may ask yourself what’s the use? You may say you have tried before but were unable to commit to making changes or something unexpected happened which prevented you from moving forward.

So often we allow what has happened in the past or what we anticipate may happen in the future to prevent us from moving forward and accomplishing our goals. What we need to ask ourselves is what is stopping me from moving forward. We make excuses, some valid and some invalid, but even those that are valid can be overcome.

When I had breast cancer I remember having a conversation with an uncle. He referred to me as being sick. I quickly told him I was not sick. I had been diagnosed with breast cancer. In my opinion I was not sick. I had breast cancer. God told me I would not die so I knew I would get better. Some of my chemotherapy treatments made me sick. I became physically ill, I was nauseas. That was what I considered as being sick.

Oftentimes we allow the thoughts in our mind to defeat us. We may not have any idea of what we can or cannot do, how things are going to turn out, whether or not we can achieve a goal but a single thought can take root and immobilize us. Our quest is to find that root. Some of us don’t have a clue as to why we think we can’t succeed we just believe that we cannot.

A few years ago we had a strange weed growing in our yard. The yard was being treated but rather than die the weeds increased. Finally my husband took a picture of the weed to a local lawn and garden store. They immediately identified the weed and told my husband what he should use to kill the weed. The recommended weed killer not only destroyed the weed from the root it prevented future growth of new weeds while protecting the healthy grass around it.

Whether you are making excuses, ignoring what is preventing you from moving forward, or even believing that there is nothing that is immobilizing you it is imperative that you admit there is something that is standing in your way then identify it. Many times we know what it is but are afraid to admit it. Again, God has not given us the spirit of fear. He cannot give us what is not in Him. Face whatever it is and ask God for the strength to overcome it.

Perhaps you have tried unsuccessfully in the past to overcome circumstances that you thought were standing in your way. Don’t give up, try again, this time seek God first and ask Him to show you what it is that you must overcome. You may be trying to overcome what you think is the problem when it could be something completely different, just as my husband was treating the wrong type of weed you may be trying to overcome something that is not really standing in your way. With God’s help you can overcome anything and everything. Let Him show you what is really standing in the way and allow Him to help you move it out of the way. As we read in John 8:36 if the Son therefore shall make you free, ye shall be free indeed.

Mark 11:23 for verily I say unto you, that whosoever shall say unto this mountain, be thou removed, and be thou cast into the sea; and shall not doubt in his heart, but shall believe that those things which he saith shall come to pass; he shall have whatsoever

 

Time For Reflection

January should be a time of reflection. For those that have charged Christmas gifts on credit cards you will start receiving your billing statements. Mortgages companies, financial institutions and employers are mailing year end statements. Some people may be surprised at how much income they received because they may not be able to account for a majority of what they earned. Others may be surprised at how little income they received yet consider it a blessing because God multiplied their income like the fish and the loaves. Their needs and wants were met and they still had money left over.

As your financial statements are coming in it is the perfect time to prepare a budget if you do not already have one.  Take a look at your spending and your saving habits. Are you where you want to be? If not what changes can you make to move closer to your financial goal? We are only a few days into the New Year. If you cannot account for your income from last year start saving your receipts. Itemize all of your spending. You may be surprised by how much or maybe even how little you spend on certain items.

Oftentimes when people are trying to reduce their expenditures they are advised to reduce or eliminate what they spend on soft drinks, coffee, eating out, entertainment, and wants verses needs. Well what if you have already reduced or eliminated those expenses and still cannot make ends meet? As rich as this country is it is unfortunate that they are many people who are unemployed or underemployed.

Comparison shopping is important. Using coupons saves money. Sometimes it may be less expensive to eat out than cook if you are discarding uneaten food when preparing meals. Freeze leftovers or reinvent them. I used to use leftover meatloaf to make spaghetti. Be creative. Purchasing clothing at a discount isn’t always a discount if the items require dry cleaning.

Over the next 3 months from January through March I encourage you to take a close look at what and how you spend. Are you paying yourself first? Do you have any money put away for a rainy day? Are you prepared for a financial emergency? Some people may think because they cannot save a substantial amount that they should not save anything. This is far from the truth. How many times have you found just enough money to get exactly what you need? Every little bit helps and it all adds up.

I believe in tithing and know that Gods word is true. Think about it. If you receive a salary your net income is what you have to spend. You do not have the option of deciding whether or not certain deductions are made from your gross income. You accept what is deducted and live off of the rest. You have no guarantee that you will ever reap any benefit from any deductions taken from your gross income. However there are several guarantees made by the only person that cannot lie that are associated with tithing.  Decide for yourself who you will believe…but as for me and my house we are sticking with the One that cannot lie.

While you are reviewing your finances get a free copy of your credit report from www.annualcreditreport.com. This site does not provide a free credit score but it will provide you with a credit report from TransUnion, Experian and Equifax.  I recommend you review your credit history annually. Errors can be made. Oftentimes unpaid medical payments are added to your credit report without notification.

God wants us to be whole, mind, body and spirit. That is why He says beloved, above all things I wish that you should prosper and be in health even as your soul prospers. He also says my people perish for lack of knowledge. Learn what you can. Use what you learn and share what you learn.

Everyone can exceed their wildest dreams but not everyone will. It is only those that will not give up, those that believe, those that are confident in God and the gifts He has given them, those that will not accept defeat and don’t know the meaning of the word can’t, and those that think it is impossible for them to fail that will see the fullness of what God has planned for them.

Are you one of the ones that will excel or are you one of the ones that will not excel?