Spring is my favorite season. Winter, my least favorite season, has ended. The air is fresh and warm. Color is starting to return to the landscape. And baseball season is here. What could possibly spoil spring? Tax day, April 15, is our annual reminder of the in-efficiency which our government operates. more >>
Cash Flow Plan Scott Doehrman
“A cash flow plan is telling your money where to go, instead of wondering where it went.” John Maxwell more >>
Family Traditions Scott Doehrman
In November many of us will once again take part in long time traditions. The traditions that I am referring to are guilt-free eating and guilt-free shopping. more >>
Holiday Stress Scott Doehrman
December is here and with it comes the most beautiful time of the year. This is the time of Christmas decorations, beautiful music, presents and shopping for loved ones. But for many it also means a tremendous amount of stress. more >>
New Year's Resolutions Scott Doehrman
January is the when many of us make resolutions for the New Year. It is a new beginning, a time to lose weight, exercise more, quit smoking, read that stack of magazines, and for many of us it is time to face our growing debt.
more >>
Home Is Where The Heart Is Scott Doehrman
“Home is where the heart is.” Just the sound of that brings visions of love, warmth, and security. But too often in these tough economic times, our thoughts of home and loved-ones center on late or missed mortgage payments, collection calls, property taxes and fighting with our spouse about finances. more >>
A Month For Me Scott Doehrman
This month’s focus is “A Month For Me”. This brings visions of pampering and rewards. And often these items are purchased, with funds we do not have, by using credit. Is this really what’s best for you? more >>
For Mom Scott Doehrman
In football the goal of everyone on the offense is to score a touchdown. But what happens if the quarterback expects his receiver to cut across the middle of the field and the receiver instead cuts to the corner? The result is usually an incomplete pass or an interception and may even result in points for the other team. Why does this happen? more >>
Has anyone else ever sat down on payday, with plans to finally get all off the bills paid, only to find out that the money ran out prior to even making a dent in the stack of bills. I know I’ve experienced that and the overwhelming sense of despair that envelopes you can be almost suffocating.
more >>
How Large Is Your Opponent Scott Doehrman
My son, Jack, will be going into the 3rd grade this year. He enjoys playing basketball and has really enjoyed the chance to play with some 4th, 5th and 6th graders at Open Gym held at the High School. Recently, we were told that East Middle School also had Open Gym for elementary and middle school players. more >>
Home Makeover Scott Doehrman
One of my favorite shows to watch is This Old House. That statement alone is actually funny, since I lack the patience and skill to do any handyman projects at MY old house. I think I like the show because it helps me to dream and to think of the possibilities. But one thought always nags at me when I watch the show, how much did these people plan to spend when they started this project?
more >>
Spring is my favorite season.Winter, my least favorite season, has
ended.The air is fresh and warm.Color is starting to return to the landscape.And baseball season is here.What could possibly spoil spring?Tax day, April 15, is our annual reminder of
the in-efficiency which our government operates.
Although I hate taxes, file your taxes on
time.If you cannot file on time, file
an extension.If you struggle to
complete your taxes, either because of the difficulty or you procrastinate,
hire a professional.There are several
excellent CPA’s and tax services in the area.
On a brighter note, many of you will
receive a refund.What is the best use
of this money?
1.Develop a
budget.Your money will disappear quicker
without a budget.
2.Get “current”
with your debts.
3.Develop an
Emergency Fund (of at least $1000).
4.Pay off or pay
down some of your debts.
5.Use some of
your refund for enjoyment.But be
sensible, if you have debts, don’t blow the entire amount on a trip to Disney World.
6.If you
typically receive a large refund, and you are using a budget, look at
decreasing your withholdings.This will
give you more money in your regular paycheck.
Let this refund be a new beginning for your financial
future.If you need help developing a game
plan, give us a call.858-7270.
“A cash flow plan is
telling your money where to go, instead of wondering where it went.”John Maxwell
Championship
teams have the ability to focus on and execute the fundamentals.The same is true with your
personal finances.
The
basic fundamental is using a budget that works for your family.Many people feel sick at the mention of
the word “budget”.This
shouldn’t be the case.A budget
doesn’t mean that you can’t spend any money or that your shopping
days are over.It means taking
control of your finances and determining, ahead of time, how you will utilize
your money.Now, when you budget
money for clothes or eating out, you can enjoy the experience, instead of
feeling guilty.
If
you are struggling with developing a budget, or just lack the discipline to
stick to your budget, give me a call at 858-7270, I can help.
Coach
Training
tip:The Dave Ramsey Show,
M-F, noon-3 pm, on 95.9 FM.
In November many of us will once
again take part in long time traditions.The traditions that I am referring to are guilt-free eating and
guilt-free shopping.
I
enjoy the first tradition.This
non-stop snack feast begins with Thanksgiving and goes right on through the
college bowl games.The net effect
is usually an additional 10 lbs.
Many
others enjoy the 2nd tradition.Some marketing genius has convinced people to get out of bed at 4:00 AM
the day after Thanksgiving.Battle traffic in the
streets, crowds in the store, and long lines at the cash register.Ultimately, this environment encourages
spending as if the first to max out their credit cards wins. The net effect is
an overwhelming amount of debt.
This
year let’s start new traditions.I’ll eat healthier with no new pounds and you shoppers can set
reasonable spending limits on Christmas with no new debt.
If
your family needs help setting those limits or getting out of debt, give me a
call at 858-7270.
Coach
Training
tip:read The Total Money
Makeover by Dave Ramsey
December
is here and with it comes the most beautiful time of the year.This is the time of Christmas decorations,
beautiful music, presents and shopping for loved ones.But for many it also means a tremendous
amount of stress.
This stress might be caused by low
funds, loss of a job, increased expenses or an overwhelming amount of debt and
maxed out credit cards. What can we do to lessen the financial stress that we
will be facing this month?
Develop a budget that works
for your family.
Set realistic limits for
gifts.
Trim your gift giving list.
Be creative.Sometimes a foot massage (gag) is the
perfect gift.
Give a gift such as playing cards,
board games or puzzles. These gifts involve the giving your time also.This time will be treasured much more
and much longer than the latest video game.
Most importantly, FOCUS ON WHAT YOU CAN GIVE, NOT ON
WHAT YOU CAN’T
Coach
Training
tip:read The Gift of the Magi by
O. Henry
January is the when many of us make resolutions for
the New Year.It is a new beginning, a
time to lose weight, exercise more, quit smoking, read that stack of magazines,
and for many of us it is time to face our growing debt.
The process to accomplish any one of these
goals can be overwhelming.But each of
them can be accomplished.Most of us
have the intelligence to accomplish these goals but we don’t have the proper know
how.We need to:
Implement a game plan to attack the problem.
Develop the discipline to change our
behaviors.
Find someone that will hold us accountable.
If you need help with your game plan,
discipline and accountability give me a call at 858-7270 I’ll be glad to help.
“Home is where the heart is.”Just the sound of that brings visions of
love, warmth, and security.But too
often in these tough economic times, our thoughts of home and loved-ones center
on late or missed mortgage payments, collection calls, property taxes and
fighting with our spouse about finances.
Give love a chance in your home.Relieve the financial stresses.Work together with your spouse instead of
placing blame.
Prioritize what is important.Develop and implement a budget.Commit to your budget.
This month, really show your family how
much you love them.Learn to say “NO” to
unnecessary spending and instant gratification.Give your family a secure, debt-free future.
If you need help with your game plan, give
me a call at 858-7270 I’ll be glad to help.
Coach
Training tip: signup for FinancialPeaceUniversity @
daveramsey.com
This month’s theme is “A Month For Me”. This brings visions of pampering and rewards. However,
let’s look at how we can really do ourselves the most good. With a proper
perspective, we can turn “A Month For Me” into “A Great Life For Me” and a legacy for my
family, as well.
Most of us never learned about delayed
gratification.We were taught, get it
now and pay for it later. But we keep paying month after month for the things
that we purchased long ago.In fact, many
people are making payments on previous vacations, Christmas gifts, and may even
be making payments on restaurant meals from over a year ago.
We may justify our actions and say it is
for the “family” or rationalize that the items we want are items that we need (new
clothes, a new car, a bigger TV, a faster computer, new furniture, and a bigger
house). We may even convince ourselves that we deserve these things because we
work so hard and are so busy.But do we
really need and deserve these items?
This month, make it a real “Month for Me”.Learn to say yes
to the “Me” of the future and no to the wants that are holding you back.You may find that you will end up living like
no other “Me” you know today.And that
will be a reward you have earned.
In football the
goal of everyone on the offense is to score a touchdown.But what happens if the quarterback expects
his receiver to cut across the middle of the field and the receiver instead
cuts to the corner?The result is usually
an incomplete pass or an interception and may even result in points for the
other team.Why does this happen?
This generally
happens because of miscommunication, thus, players are running different
plays.
This same
phenomenon happens with our family finances.The stated or implied goal is that we would all like to be
debt-free.But, if we do not work
together and have a common plan of action, we will not reach the desired goal.
For
example:You want to get out of debt so
you pick up a part-time job.While this
brings in extra income, it also keeps you away from the family many evenings a
week.This may put extra stress on your
spouse who is running the kids to various activities.With all of the extra running around she
doesn’t feel that she has the time or energy to cook a meal.This can quickly become a habit and repeat
several times during the week.The net
result is you have picked up an extra job to pay for the convenience of eating
out for your family.This could have
been avoided if you had both sat down and developed a plan of action.You would have agreed on why you were working
this job, how this job would affect your family and how this new income would
be used by your family.With a plan in
place that is designed specifically for your family it is easier to say no to
convenience and stay focused on the ultimate goal.
This Mother’s
Day give your wife a gift she will truly cherish; communication with you.Sit down and develop a budget together.Talk about your finances.Talk about your goals and yes talk about your
fears.This will help you bond together
as a “Team” and will result in you accomplishing your goals together.
If you need
help developing a game plan, give us a call.858-7270.
The economy,
downsizing, layoffs, bankruptcies, foreclosures, wage cuts, furloughs, business
closings, unemployment rates…With news like this hitting us in the face every
day, how can one feel comfortable planning a vacation.That money may be needed soon just to get by.So, in times like these, should we spend
money on a vacation?
A vacation is
meant as a time to get away from the everyday stress and routine of work and
life to recharge our battery.It is quality
time with our family.
Can this only
be accomplished by going to Disney World or Myrtle Beach?Does the amount of money we spend equate to the quality of time and the
memories we’ll have with our kids?Instead of canceling your vacation plans, consider altering your vacation
plans.
Instead of a
week long vacation, try taking several short adventures instead.This will allow many opportunities to have
quality time with your family.
Here are some budget-saving suggestions:
* Turkey Run or
EagleCreekPark:Take a picnic, toss the Frisbee or Nerf
football, & go for a hike.
* Indiana Dunes:Experience the beach on Lake Michigan.
* Bike riding
on the Monon Trail.
* Fishing at a
friend’s pond
* Indianapolis
Indians baseball (my favorite).Experience a great stadium at affordable prices.You can even sit in the outfield lawn and
take in your own picnic.
* Camping:Imagine sleeping outdoors in a tent, roasting
hotdogs on a campfire, making s’mores, playing cards
& telling ghost stories.There are several
inexpensive campgrounds nearby or getaway in your own backyard (and have
toilets, refrigeration, a/c and a roof nearby, just in case).
So stop moping
around if Disney World isn’t in your budget.Try one of these other alternatives and really concentrate on enjoying
time together as a family.Make it a
summer of adventures and memories.
If you need
help developing a game plan, give me a call.858-7270.
Has anyone else
ever sat down on payday, with plans to finally get all off the bills paid, only
to find out that the money ran out prior to even making a dent in the stack of
bills.I know I’ve experienced that and
the overwhelming sense of despair that envelopes you can be almost
suffocating.
A client once
told me that their house had one rule and that rule was that his wife couldn’t
tell them they were out of money on payday.She had to at least wait until the next day.He said that he wanted to believe, at least
for one day, that things would get better.This sounds funny, but the reality of this rule probably hits home with
many of us.How often has your paycheck
been spent by the time it has hit your bank account.This has put many of us in the paycheck to
paycheck mentality.
How do we break
this cycle?We need to develop a
financial game plan.This plan needs to
start with a budget.Ok, I realize many
of you want to stop reading.You don’t
want to read about budgeting.You want
to enjoy your money.But give me a
moment.Notice budget is not a four
letter word.It is not a word to
fear.A budget does not mean your life
is over and that you can never spend money again.A budget is just deciding what YOU want to do
with your money.It lets you decide what
is important in your life.And it helps
you to organize your finances.It will
help you see the progress you are making.And it will put joy back in your payday.
If you think
your family needs a financial game plan, but you are not sure where to start, give
me a call.I offer a free, 45-minute
initial consultation.
My son, Jack,
will be going into the 3rd grade this year.He enjoys playing basketball and has really
enjoyed the chance to play with some 4th, 5th and 6th
graders at Open Gym held at the High School.Recently, we were told that EastMiddle School also had Open
Gym for elementary and middle school players.
When we walked
into the middle school gym, there was only one other elementary age/size
boy.The rest of the players were all 6th
– 8th graders. I quickly analyzed the
situation, Jack was: 3 to 5 grades younger, 1 to 2 feet shorter, 50 to 150
pounds lighter than the other players.Plus, his career has encompassed 1 year on a 2nd grade
team.
Many thoughts
were going through my head:overwhelming, intimidating, inexperience, dangerous, and
embarrassing.In my mind, these players
were looking more and more like the Indiana Pacers and Jack had no chance to
play with these guys.
Coach James
included Jack in the shooting drills. But, when it was time for the players to go
full court and play a game, he came over and said he would have Jack sit out
this part.I quickly agreed with this
decision.
My 9 year old
son then taught me a major, life lesson.He said, “I know why Coach doesn’t want me in there, I don’t know any of
their names.”
Our
perspectives were totally different.Mine
was that I was happy he was on the sidelines.He was safe.He wasn’t being
embarrassed or facing such and insurmountable opponent.Jack’s perspective was that he wanted to get
into the game, he was a ball player and he wanted the opportunity to play with
the big guys.He wanted the opportunity
to score and the opportunity to win.
I say this is a
life lesson, because we all face opponents in life.Maybe your opponent is your job or lack of a
job.Maybe it is your finances, your
marriage or a spiritual issue. Does your opponent look too large, too
intimidating, too experienced or too overwhelming for you?Do you just want to play it safe and sit on
the sidelines and hope your opponent goes away?
Maybe you need
to change your perspective.Maybe you
need to look at your situation with the eyes of a 9 year old and look for the
opportunity to get into the game and win.
One of my favorite shows to watch is This Old House.That statement alone is actually funny, since
I lack the patience and skill to do any handyman projects at MY old house.I
think I like the show because it helps me to dream and to think of the
possibilities.But one thought always
nags at me when I watch the show, how much did these people plan to spend when
they started this project?
Sometimes it
seems that the projects keep expanding minute by minute.Oh look here, we have dry rot, sagging
floor…Some of these projects grow and grow until the only remaining piece of
the old house is the oak tree in the front yard.Oh wait its diseased it will have to come
down.My point here is that home
projects tend to get away from us.We
start with one thing in mind, but a little change here, a little change there,
add a little…soon we are taking out a home equity loan, whipping out the credit
cards and creating larger monthly payments.This leaves you wondering how this spun out of control.
The problem is
you didn’t have a game plan.Develop a
plan by following these simple steps:
Develop a budget for the
project.Leave some wiggle
room.What can you afford to
pay?Notice, I did not say what
monthly payment can you afford to pay?
2.Don’t start
until you can pay for the project.If
you don’t have enough money, scale your project or start saving your money.
3.Get referrals
and get several quotes.
4.If you get the
quotes and don’t like what you can afford, then continue to save.
5.Get an
accountability partner other than your spouse.Pick someone you can bounce ideas off, but they must also be willing to tell
you what you may not want to hear (No!).
6. Stick to your
plan and enjoy your paid for home makeover.
