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Notes From The Financial Shepherd

Why Dollars + Change = Sense by Glen Wright and Sy Pugh

The main purpose for the budget is to plan how someone’s money will be spent. Since most of us have limited resources, budgeting provides a way for us to monitor and manage personal cash flow, and to meet both current and future needs. Everyone needs a budget, regardless of how much or how little money they have, because everyone needs to have a solid understanding of their individual financial position. Following the example of the wealthy, it is important to know that most affluent people have an excellent understanding of their personal budget and a keen awareness of how money comes in and where money goes out.

Notes From The Financial Shepherd

Why Dollars + Change = Sense by Glen Wright and Sy Pugh

Truth be told, investing has changed my life and the lives of my clients for the better. My advice to you: Don’t be afraid, be prepared!  There is no such thing as the perfect investment so before starting to invest, you have to ask yourself some questions:

Why are you investing?
Do you need current income (i.e., bond interest or CD’s) or are you saving for accumulation goals?

Excerpt From The Financial Shepherd

Why Dollars + Change = Sense by Glen Wright and Sy Pugh

If you’ve ever been in a Fun House at a carnival or a fair, then you know how different you can look depending upon the mirror that you’re looking in. There are mirrors that can make you look 10 feet tall, or five feet wide. There are mirrors that contort your shape and proportions to the extent that you can hardly recognize your own reflection. On first glance, you know it’s you because you’re standing there and can recognize the clothes or shoes you have on, but everything else is so different, it is difficult to tell what’s real. In the Fun House, how you look in the mirror is not necessarily how you look in real life. The good news about these mirrors is that they are for entertainment purposes only – just for fun. The bad news is that some of us need to take a second look – because the distorted images we see reflected aren’t that far from the truth.

Excerpt From The Financial Shepherd

Why Dollars + Change = Sense by Glen Wright and Sy Pugh

My spouse and I have different spending habits, how do we compromise and start communicating about money?

First, married couples should be aware that this is a common theme in marriages. When individuals marry after being independent for a number of years, their personal goals need to be readjusted from focusing on “me” to “we.” In my practice as a therapist, conflict involving money is the problem presented most often by married couples. Money is important in marriage but it should never be what a marriage is based upon. In fact, if the marriage is based upon anything other than Christ, the conflict will manifest itself through that substitute.

Excerpt From The Financial Shepherd

Why Dollars + Change = Sense by Glen Wright and Sy Pugh

Hope for the Best, Plan for the Worst focuses on the sometimes random, yet inevitable events in life that occur (illness, disease, disability, death) but are never fun to discuss. It is of the utmost importance that we prepare ourselves and others (those that we leave behind) for the perils and hardships of life that often create financial difficulty if not addressed. Unfortunately, many of us find ourselves in a reactive mode instead of a proactive mode; responding to the latest crisis instead of simply implementing the plans that we have already put in place in advance. What’s worse, when times are tough, we tend not to follow our faith, but rather our sight and circumstances.