15 {Surpisingly Simple} Money Saving Tips for Families

Before we had our first son I was terrified on how much it was going to increase our monthly expenses.

We were decent at managing our finances, but I suddenly felt that I holes in all my pockets and all our money would just fall off into the new baby abyss.

I’m sure other families feel this pinch and are constantly looking for ways to save money.

While it’s rare that you can eliminate a single expense that will give you control over your finances, you can usually save a lot of money by combining savings from several different directions.

Money Saving Tips for families

Try some of the following money saving tips and use them to take charge of your budget.
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GF¢ 045: How to Compete Every Day and Crush Your Goals

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I love “Dream Chasers”.

There’s something about somebody’s story that put it all on the line to pursue their passion especially when their mission is to encourage others.

About a year ago, I noticed a fellow Crossfitter wearing a sweet shirt on my Instagram feed. When I did some more homework, I found it out it was made by a company called Compete Every Day.

Fast forward to present day and now I own 7 Compete Every Day shirts and wear one of their wristbands daily.

I’m obsessed with their determination to spread positive and encouraging messages to others showing that your life is worth competing for.

Compete Everyday

Jake Thompson, the CEO (“Chief Encouragement Officer”) of CompeteEveryDay.com, was gracious enough to come on the show to share his backstory and what his lifestyle brand is all about.

What’s in The Show:

  • His advice for anyone wanting to chase your dream.
  • Why you should never quit and never forget the mission.
  • Why there’s no such thing as an overnight success.
  • What it’s like telling your family that your goals are different than theirs.

compete every day

What Chris Brogan had to say about Jake:

Jake is building a great business, with elements of participation, motivation, and with a sense of legacy. I’m forever thrilled to see where Jake goes with it, and happy when I get the chance to add my fifty-two cents

Resources from the Show

Warning: If you go to the Compete Every Day site, I promise you won’t be able to visit without buying something. So be careful! :-)

Grow Your Dough Throwdown 2.0

It’s back…..

Just when you thought the Grow Your Dough Throwdown was done, we’re back for another year.

Ahhh yeah….

It’s time for Grow Your Dough Throwdown 2.0.

Grow Your Dough Throwdown 2.0

I had a blast throwing down with my fellow personal finance bloggers that I knew that I wanted to do it again. But if I did it again, I wanted a few things to be different:

  1. More bloggers joining the fun.
  2. A much easier way to track the performance for each blogger.

Enter Motif.

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29 Actionable Financial Tips That Millennials Need to Take Right Now

Hey you, Millennial. Listen up.

Millennials are sometimes seen as the unfortunate generation.

It often seems that the Baby Boomers have taken the best of what’s available, while Generation X is always standing in line just ahead of the Millennials.

If you’re a Millennial yourself, there’s nothing to be gained from feeling cheated; it just means you’ll have to change tactics and work a bit harder.

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Here are 29 actionable financial tips that millennials need to take right now.

If you take enough of them, and make them part of your financial plan going forward, you might start finding yourself further ahead, and faster, than you thought possible.

It’s time to show the Baby Boomers and Gen X’ers what’s up!

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Grow Your Dough Throwdown Final Results

I can’t believe the Grow Your Dough Throwdown is over!

It’s been an exhilarating ride, and I wish I could say that I was excited to share the results.

Alas, my portfolio got its butt kicked, while my wife’s portfolio, on the other hand, did rather well.

In fact, I think everyone kicked my butt.

Oh, well; life goes on…..

Grow Your Dough Throwdown

The exciting thing is that the Grow Your Dough Throw Down 2.0 is ready to launch, and I will have details at the end of this post.

Until then, let’s take a look at how I did.
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15 Reasons Why You Shouldn’t Buy an Annuity – (And 5 Real Life Scenarios When You Should)

Many advisors think they’re doing their clients big favors by telling them that they’ll never put them in an annuity. And with all the negative press that annuities get, it’s not too surprising.

However, I think annuities are fantastic – in the right situation.

There are at least 15 reasons why some people shouldn’t buy an annuity. If you’ve done much research on the subject, you’re probably already aware of a few of them.

But you need to know that annuities serve certain very specific purposes, and if you happen to have a need for one of those purposes, then an annuity can be a game-changer.

Here are 15 reasons why you might not want to explore the annuity side of things– and five reasons why you should.

Carefully consider all of these reasons, and see your financial professional before making a final decision on an annuity.

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Here are some reasons why an annuity might not work great for your situation:
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5 Crucial Lessons I Learned by Starting My Own Business

As a kid, I had no aspirations of being a business owner or entrepreneur.

I was a baseball card collector investing way too much money in Jose Canseco baseball cards.  (That probably ranks as one of the worst investments I’ve ever made but, hey – I was just a kid).

Even going into college, I really didn’t know what I wanted to do when I graduated.

I majored in finance because my dad thought it would be a good major, and I kind of liked numbers.

The self-employment revelation hit me when I read Robert Kiyosaki’s Rich Dad Poor Dad. That really changed my whole mindset, and got me to thinking seriously about becoming an entrepreneur.

After graduation, I was attracted to the financial services industry, because I felt that the income potential there was unlimited. I put in my time doing cold calling seminars – and doing anything else I needed to do to get clients. All went well for the first five years – or so it seemed.

Then another revelation hit me: Even though my income was unlimited, I was still a W2 employee.

That wasn’t exactly the message of Rich Dad Poor Dad, but it did have certain advantages. After all, I didn’t have to worry about who was paying the rent, how much the phone bill was, or what happened if my computer became outdated. My old brokerage firm took care of all that responsibility.

But in the end, that arrangement wasn’t as cozy as it seemed.

5 Crucial Lessons I Learned by Starting

My brokerage firm was bought out, creating one of those moments that almost forces you to change direction, and that‘s what I did. Me and three other coworkers took the leap of faith of actually starting our own financial services firm. I was finally – and officially – crossing over from W2 employee status to legitimate business owner.

I was finally self-employed.

It definitely was very exciting, but it was also very scary. I quickly realized I knew nothing about running a business. Sure, I knew how to make cold calls, get new clients, and schmooze with the best of them. But actually running a business was something that I had never been taught in school and really had no experience with.
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GF¢ 044: Why I Happily Pay $7,900 a Year For Strategic Coach

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What is one investment you’ve made in the past that you’re grateful for today?

In 2011, my financial planning practice was thriving, for the most part. It had been three years since I left my old firm and co-founded Alliance Investment Planning Group, and this blog was doing very well.

In spite all of that, I felt like something was missing.

It wasn’t about the money, because I was making more than enough to support my family. It was more about how I was spending my time each day. There were certain parts about my day that I absolutely loved, but there were other parts that I absolutely dreaded.

I remembered that the mentor who had first hired me to be a financial advisor once told me that he had gone through a few different coaching programs. At the time, I didn’t get it.

Why would you ever spend money on a coach? But I slowly started to realize that I needed someone to help me figure out what exactly I wanted to accomplish, and how I was going to do it.

Through a contact I met on my blog, I learned about a program called The Strategic Coach. This online entrepreneur I met had been in the program for 12 years and suggested that I check it out. I decided to investigate their website.

Then I saw the cost. <insert jaw drop>

Strategic Coach Program Dan Sullivan Review

Based on my income bracket (they have different price ranges depending on where your income falls), it would cost me $6,900 per year to be a part of the program. If that wasn’t a tough pill to swallow, I then learned that the program only consisted of four workshop days per year.
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6 Things I Learned From Finishing the 21-Day Habit Challenge

Over the past few years, I’ve really focused on growing my financial planning practice, my blogs and my other online ventures.

After enrolling in a coaching program and talking with mentors and other successful entrepreneurs, I realized that successful people make strong positive habits part of their daily routine to help them achieve great things.

21 Day Habit Challenge

Dan Sullivan, the founder of the Strategic Coaching Program, developed what he calls the 21-day positive focus. The basic concept fairly simple: focusing for 21 days straight on one key habit that you want to either introduce into your life or get rid of.

I chose two habits to acquire — doing push-ups and reading the Bible — and started the 21-day habit challenge on my blog, hoping to inspire my readers to incorporate new positive habits into their daily lives, too.

I was surprised at the results.
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GF¢043: [Case Study] Can You Retire Early with Only 1 Million Dollars?

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I want to retire early with 1 million dollars.

That statement has a nice ring to it, huh?

I don’t think I’ve worked with a client yet that didn’t want to retire early, or wouldn’t be ecstatic if they had a $1 million portfolio.

But as most of us already know, $1 million isn’t what it used to be.

IMG - Can You Retire Early with Only 1 Million Dollars

This article from USA Today makes the bold claim that $1 million isn’t enough to retire nowadays.

Look, $1 million is A LOT of money, but to stretch that out for the rest of your retirement is tough. It’s even tougher with lower interest rates.

The article states, “10 to 12 years ago, when people earned a lot more on their investments, $1 million could generate $70,000 to $80,000 a year in retirement income. But with interest rates as low as they are, that’s not really feasible.”

Sure, there are ways to make the most of out your short-term investments, and there are intriguing options like Peer to Peer Lending that can yield decent returns, but they don’t magically guarantee an early retirement.

So the question remains:  Can you really retire early with 1 million dollars?
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GF¢ 042: Unlocking Your Inner Greatness with Ben Newman

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Ben Newman is on fire.

And I’m proud to say he’s a friend, mentor and someone that oozes positivity into my life.

Plus, he’s a die hard St. Louis Cardinals fan, so what’s not to love?   :)

Here’s just a few of Ben’s accomplishments

  • Super successful insurance agent (which he recently retired from)
  • International speaker
  • Author of 4 books (with a 5th on the way)
  • Founder of The Continued Fight and Bootcamp Workshops
  • High Performance Business Coach
  • Loyal husband and proud father
  • One cool dude

Did I mention he’s only 35?

Feel like a slacker yet?   Yeah, me too :)

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Fight For What You Believe

My first introduction to Ben was reading his book Fight the Good Fight, A Mother’s Legacy Live On. (In case you missed it, I included this book in one of my Top 25 Books for Entrepreneurs).
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Want to Win $2,500 of Apple Stock?

I’m an Apple fanboy.

A few years ago I got my first Macbook Pro and I haven’t looked back.

If you were to visit the Rose household, you would see that the entire family is on the Apple bandwagon with 1 iMac, 2 Macbook Pro’s, 1 iPad, 3 mini iPads, 1 Time Capsule and iPhone’s galore.

Yeah, we love Apple.

When Nvestly, a new social investment platform, asked me to participate in a $2,500 Apple share giveaway to bring awareness to their recent launch I was totally onboard.

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