Meet our newest Financial Coach - Jaclyn Wise!
As a former math teacher you might expect budgeting would come easily, but Jaclyn shares she was a mess when it came to budgeting and balancing her own checkbook. Once she started making “real” money, she thought her finance worries would be solved. She was wrong. Six years after graduating college, she found she was still living paycheck-to-paycheck and feeling extremely jealous whenever her friends posted pictures on Facebook of themselves enjoying vacations in exotic places. She scrutinized and antagonized every purchase she made, big and small. Money made her feel all the wrong feelings. 

That was years ago. Today, her life looks a lot different. 

Since investing in financial coaching in 2015, Jaclyn and her husband have made a remarkable amount of progress in five short years. 
Jaclyn shares her story of how she became a financial coach and some of the challenges she has overcome along the way. Jaclyn has a heart for financial coaching and wants you to see the all of the possibilities in life too. She is on a mission to help you reach the goals you have in life. Even the ones that seem out of reach right now. The thing is they’re not. Jaclyn cannot wait to show you how much closer you are than you think. 

Knowing your income and expenses are important.

But just as important are numbers that show you the bigger picture of your financial situation and that’s where your Net Worth & Savings Rate come into play.

Kelsa will walk you through how to calculate these, provide some insights as to why you might want to care about them, and even provide some tools for you to use!

Notes from episode:

  • Why your savings rate & Net Worth are important numbers to know
  • How to calculate both of these figures
  • Pros & cons of using these numbers
  • Next steps once you’ve gained awareness of these figures
  • How to improve & strengthen your net worth & savings rate

 

Resources:

 

As we start the slow return to normalcy following the COVID19 quarantine, it's time to consider what our spending habits will be.

Companies will more than likely start to market towards our need for normalcy and the things we have been missing out on the past few months. 

Jill and Kelsa talk about some strategies to make sure that your climb out of quarantine will be well within your budget!

 

Tips from Jill and Kelsa:

  • Some expenses you may see a quick spike in 

    • eating out
    • travel
    • entertainment
    • What else do you expect?
  • Don't forget to add back into your budget
    • childcare
    • gas expense for traveling to work
    • kids activities if they were cancelled for a while
  • Grooming
    • hair
    • nails
    • facials
    • waxing
    • etc
  • Be honest and realistic with yourself on what you may need to add
  • If you lost your job, now is the time to get your resume updated and maybe learn a new skill that makes you more marketable

Resources:

Gaslighting article mentioned

Join our free awesome Facebook group here

Amazon has made it so easy and convenient to have all of your purchases on your doorstep within a matter of days (or sometimes hours!). The convenience is great, but how is this impacting your finances?

The convenience of being able to order anything we want in the click of a button, may be holding you back from reaching your financial goals.

In this episode, Coach Jill gives some quick and simple tips to help you gain control of your Amazon spending habits in this episode of The Fiscal Fitness Podcast.

Coach Jill's Amazon best practices to stop overspending:

  • The convenience of instant gratification may be sabotaging your financial goals.
  • Practice strengthening your delayed gratification muscle by adding items to your cart, but waiting to click “buy” until a set day each week. (**Hint - choose a day at the beginning of the week - try Tuesday or Wednesday)
  • Review your cart each week and determine if you still want each item and if the total amount of items in the cart are in line with your spending goals. 
  • Move anything that isn’t top priority onto your wishlist to save for later.
  • Prefund an Amazon gift card for yourself to keep your spending on track. Each payday, put a set dollar amount onto your gift card and make a commitment to yourself not to spend more than what you have put on the card.  

We were in a total funk for meals and found ourselves spending way too much on both groceries AND eating out! Here’s how we fixed it!

Notes from episode/ summary of major points/ etc:

  •  What being in a rut with food spending can look like
  •  Various strategies for getting a handle on your food spending
  •  One out-of-the-book solution you may want to consider

Additional tips/ strategies/ other things to consider/ etc:

  • This wasn’t always a problem - it just sort of becomes a problem suddenly. In fact, we used to be really good at cooking, eating at home, etc.
  • Practical tips for meal prepping and planning 

Resources/ links related to topic/ mentioned in podcast:

April 16, 2020

Episode 84: April FC Beat

It’s one of our favorite times of the month! It is time for the FC Beat.

That’s the Financial Coaches Beat, in case you didn’t know, where Kelsa and Jill are giving you the inside scoop on what’s happening, all things in the Fiscal Fitness world.

And of course our favorite part which is tooting the horns of our amazing clients, sharing the great work that they are doing and celebrating their accomplishments.

You’ve got to tune in for this one!

Related Links:

What are some simple activities that you can do that can have a quick yet significant impact on your budget?

Kelsa is going to share 5 of those actions!

Notes from episode:

  • 5 Quick money-saving and confidence-boosting actions you can take today
  • Why these things are more impactful than they seem on the surface

5 actions:

  1. Review your pay stub

    1. Is there anything you’re paying for that is optional that you’re not using? 
    2. Is there anything you’re paying for that you can take advantage of - such as an Accident policy or Aflac type. Or a prepaid legal service where you can get a free will for you and your family? 
    3. Does your pay look correct? 
  2. Call to get a CC interest rate lowered
    1. Call in the morning when customer call reps haven’t been answering the phone all day and getting yelled at by cranky customers all day
    2. Use first names, thank them for their help
    3. The first couple times, you might hear no. Thank them for their consideration and hang up.
    4. Wait a week or a few days and keep calling back.
    5. Tell them you’re loyal and you are hoping they can work with you. You don’t want to have to transfer the balance elsewhere and you’re looking to see what they can do.
    6. Even if they say it’s temporary - such as we can lower it for 6 months, take it. Every little bit helps. 
  3. Review your bank and credit card activity - NOT doing this can really bog us down mentally. 
    1. We worry and question about what might be happening or clearing that we're not aware of. We start to think "Gosh, I'm sure I'm blowing money but I just don't have time to get organized." And these thoughts to lead us to feeling bad with money and the trickle affect can be damaging. 
    2. So block off the time NOW to review all activity for the past 3 months on your credit cards and bank statements and even if you don't find anything wrong or that you can cancel, I promise that will be so reassuring and will be a huge boost to your financial confidence.
    3. Are you paying bank fees and you can avoid that by jumping through a hoop or two?
  4. Cancel a subscription you aren't using
    1. You can ALWAYS add it back later and chances are, they’ll even discount it substantially for getting you back. 
  5. Make a list of free activities you would enjoy doing
    1. And don’t just make a list but do any research too. The idea is that if you’re tempted to spend money, you want these things to be as easy as possible to do. No burden of figuring out where to park or what the address is, etc. Planning ahead is the trick.
    2. List of 50 Free activities can be downloaded by clicking here: fiscalfitnessphx.com/episode82

Resources/links related to topic:

When there is so much uncertainty and things feel out of our control, it’s very easy to get sucked up in the worry and feel as if everything is “on hold” until this all blows over.

In this episode, Coach Jill talks about how important it is to keep morale high while living through this very uncertain time. We have the opportunity to choose or DECIDE what we really want to get out of this time, so let’s choose to make it a time that we can be proud of.

Notes from episode/ summary of major points/ etc:

  • Ask yourself: “What would make me really proud to say I did during the Covid-19 quarantine?”
  • Our level of productivity will translate to our mental health. Take care of yourself by finding a way to be productive.
  • Declutter, find a fitness or nutrition challenge to participate in, learn something new, put your spending in check with a financial challenge, volunteer or donate your time, money or talents. All of these things will help you to feel productive and proud of yourself at the end of this.

Resources/ links related to topic/ mentioned in podcast:

You can be really disciplined and still fall for temptations so today we’ll be covering 3 steps to conquering temptations once and for all.

Kelsa will be covering:

  1. How to identify when triggers happen for you - this awareness is key! 
  2. Then Kelsa will discuss 13 ways you can reduce the chance of temptations tripping you up and essentially ways to prevent facing temptations to begin with. And then...
  3. How to have a backup plan of free activities so that when temptation strikes, you are prepared!

CLICK HERE to receive the 50 Free Activities handout!

Notes from episode:

  • Identify your spending triggers that are pulling you off track
  • Pick 2-3 changes you can make right away to curb your temptations
  • Pick a minimum of 5 free activities you can do instead of spending money

Resources/ links related to topic/ mentioned in podcast:

 

Thinking about buying a house?  Listen to what mortgage lender Jeff Quincey shares with Jill.

Coach Jill interviews mortgage lender Jeff Quincey of Fairway Independent Mortgage and they give you the scoop on everything you need to know about mortgages, refinancing and what to expect in the process. 

This podcast is the perfect prep for our 4-week “Home Buyers” course that is about to kick off on Monday March 23rd, 2020 (postponed and new dates TBD). This live & interactive course is led by our own financial coaching experts Jill Emanuel and Kelsa Dickey. This course will help you feel more well-prepared and confident as you make the big decision to buy a home, which may very well be the single largest purchase of your lifetime. It only makes sense to invest a bit of time, effort and money to learn how to ensure your home is a blessing and not a curse!

Click THIS LINK to find out more and get enrolled!. The Home Buyers mini course is postponed and new dates TBD.

Episode notes:

  • Jeff tells us what you need to know in order to qualify for a loan, do’s and don’t, how much you need for a down payment, where your credit score needs to be….and so much more!
  • We talk refinancing - when does it make sense and when doesn’t it? What are some of the key things you need to evaluate to ensure you are making a smart decision? 
  • Hear some examples of past clients and the mistakes and successes that they experienced through the lending process!

 

We answered some questions from our Facebook Community!

  • Janelle Asks: When should a mortgage be refinanced? At what rate difference is it “worth it” after all of the fees are added in? 
  • Matt Asks: Dave Ramsey says you don’t need a credit score to buy a house. Is this true? Can someone who has no credit history actually get a loan? 
  • Amy Asks: How does one go about refinancing in order to pull cash out for a home remodel/renovation? Can you elaborate on this? How much equity needs to be in the home to do a cash out, etc?
  • Barbie Asks: Is it worth it to refinance a 15 year mortgage to another 15 year mortgage if the interest rate has dropped 1%? Not to add any more debt, but to lower the payment? (currently 14 years remaining)
  • Ian Asks: What type of help can a first time home buyer get? And how do you know when you’re buying too much house for your budget?

 

Resources/ links related to topic/ mentioned in podcast:

 

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