Whether you have broken your 2020 new years resolution by now or not, for the most of us, our finances continue to be a concern.
Here is the first step towards planning for a Secure financial future.
Take Stock of Current Financial Status, that is,
Calculate your current NET WORTH.
Do this at least quarterly; certainly
do it once a year!
Compute the current value of all your assets (what you own).
The total of non-obligated funds (balance) at all bank accounts The fair market value of all real assets you own
trade-in value of cars, motorcycles, boats, scooters, trucks, etc.
Current fair market value of all real property you own
house(s), farm(s), land(s), etc.
Current trade-in value of equipment and appliances you own
TV’s, Refrigerator, tools, computers, sound systems, etc.
Current trade-in value of all furniture, jewelry, antiques, etc.
Compute the current value of all financial investment instruments
(these are the value of these instruments
that will be available to you on demand
after deductions of all penalties, fees,commissions etc.)
Cash payout of all retirement accounts
Cash payout value of bonds, stocks, etc.
Cash payout of life and other insurance policies
Cash payout of all other investments
Compute your total debts (Liabilities);
Current short term loans
(those payable within 1-5 years)
credit card(s) balance(s)
total current value of all car loans/note(s)
other short term debt(s)
e.g. lease or rental obligations
current value of total long term obligations
Mortgages/house payments
Student Loans
many student loans have a payoff value
attached to your total balance
Other Long term contractual Obligations
current value of total child support payments
current value of alimony or divorce settlements, etc.
current value of all other court ordered payments, etc.
Compute the Net Worth
= Total Current value of Assets – Total Current Value of all Debts. This is the foundation of all planning for a secure financial future!
The numbers need not be super accurate.
This is just a birds eye view of your current position
Now that you know your current financial status,
the Next Step is to SET SOUND FINANCIAL GOALS
That is, clarify where you want to be
That’s in the next Post
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I NO LONGER MAKE NEW YEAR’S RESOLUTIONS!! WHY? Two things!
I have come to view the end of one year and the start of another as
a little too artificial.
Imagine looking back to the earth
from the vantage point of the moon.
What is the difference between
December 31st and
January 1st?
Or Imagine being a bird, or another animal.
What is the difference in the experience
of December 31st relative to January 1st?
I have resolutions,
but they are no longer bound by an artificial timeline. My resolutions
like time itself,
are always on a continuum; and they
are about
‘always growing’;
always becoming a better version of me.
Photo by Akil Mazumder on Pexels.com
I don’t stop striving to become better version of me
just because I broke a resolution after two months.
Neither do I wait until the next December 31st
to resolve to start again;
to become a better version of me;
after I fail by February 1st each year.
So what should we do on the 31st of December each year?
Do celebrate
the end of a block of (man made) ‘time’ and the start of a new one,
like everybody else; and
it is useful to have time markers along the way, but
Do, never become obsessive
that you must meet all your benchmarks within the year
to consider yourself successful!
So here is the ONE AND ONLY RESOLUTION
Always strive to become a better version of yourself with each passing day:
Be better at your faith, you know,
trust, pray, love, give, testify, know, and serve more, etc.,
about and as a result of your faith!
Better in your character
(the real you;
what’s inside;
like toothpaste,
what comes out when pressure is applied);
Be more dependable, more patient, more truthful,
more balanced, less self-centered, more at peace with yourself,
more generous with others,
with your resources as well as with their faults etc.,
more self disciplined with time, words, and actions; wiser.
Better in your relationships: more
serving, self-less, open, forgiving, listening and less talking,
considerate, gentle, humble, and more self-control.
Better at your Career: Make it your goal to be
more dependable, knowledgeable, skillful, useful, available, etc.
A wise man once said, long ago:
“…One thing I do: Forgetting what is behind and straining toward what is ahead, I press on toward the goal to win the prize…” Paul (ca. AD 52-62, Phil 3.13-14)
HAPPY NEW YEAR!! PLEASE LIKE AND SHARE!!
A Very Profound Event Happened at Christmas: The Scriptures Says it Best: Photo by Snapwire on Pexels.com
In the beginning was the Word, and
the Word was with God, and the Word was God. He was with God in the beginning. Through him all things were made; without him nothing was made
In him was life, and
that life was the light of all mankind.
The light shines in the darkness, and the darkness has not overcome it. . . .
He was in the world, and though
the world was made through him,
the world did not recognize him.
Photo by Pixabay on Pexels.com
He came to that which was his own,
but his own did not receive him.
Yet to all who did receive him, to those who believed in his name,
he gave the right to become children of God
children born not
of natural descent, nor of human decision or a husband’s will, but
born of God.
Photo by KML on Pexels.com
The Word became flesh and
made his dwelling among us. We have seen his glory,
the glory of the one and only Son,
who came from the Father, full of grace and truth.
Photo by Jill Wellington on Pexels.com A Very Profound Event Happened at Christmas: MERRY CHRISTMAS TO YOU ALL!!
For most of us, the Christmas season is special,
a welcome time of the year.
But I ask myself the question, Why?
WHAT IS SO UNIQUE ABOUT THIS TIME OF THE YEAR!?
Photo by bruce mars on Pexels.com It is about the giving and receiving of gifts?
Everyone seem to make an effort to give a gift to someone else
No doubt receiving a gift is a pleasant experience.
Giving a gift that brings joy to someone else
is also a beautiful thing.
All this shopping for gifts mean more sales for businesses
which allows them
to hand out bonuses to workers
Even without increased revenues,
Christmas is when businesses
make positive gestures
towards employees and the public.
Photo by Pixabay on Pexels.com Could it be the Bright and Warm Colors of the season?
A lot of people put on
red, green or gold or other bright and warm colors during this season.
Many homes are decorated with multi colored Christmas lights
on the outside
and, with colorfully decorated ornaments
on the inside including on Christmas trees.
Many stores and businesses
make dramatic and colorful window displays. On the inside, their products
are also beautifully arranged with Christmas decorations.
The streets, and city centers in many areas around the world
are also impressively decorated.
But the Christmas season is all this and more!
Could it be the Wonderful Sounds that fill the air?
Lots of music and the sounds of bells and whistles
fill the air during this season.
Christmas Carols tell the wonderful story
of the love of God and
of peace and goodwill towards all men.
The sounds of the Christmas season evokes nostalgia
in the minds of adults
about innocent childhood days as well as
about simpler days and times;
when they looked forward to
Christmas gifts, toys, family, and fun.
But the Christmas season
is special for all this and more;
more than just the sounds of love, joy, peace, and hope that fills the air!
Is it because of the Special Food we enjoy at this time of the year?
Everyone goes out of their way to prepare special food and
there is plenty of it there is also a large variety of it
there is plenty of food and lots of variety
But the Christmas season is special
for more than lots of very fine food.
Is it the many celebrations, the events we get to attend?
Parties among friends and families,
nine lessons and carols;
special concerts and
sporting events etc.,
are all mostly very nice experiences.
Even without a party to go to,
the streets have more people
out and about,
(shopping, dining, buying and selling, etc.
not to forget the traffic);
during the Christmas season
giving a special ‘event’ type feeling.
This is good but Christmas season is special for much more!
All of the above,
each have a part to play
in making the Christmas Season
But together,
the giving and receiving of gifts,
the bright and warm colors,
the sounds,
the special and very fine food,
the celebrations and special events;
combine to create a very powerful and positive vibe
The season is special,
because together
they make it a season of GOOD WILL
wherever Christmas is celebrated!
And we
(all of humanity, our families, our communities, our nation, our economies)
need AT LEAST ONE SEASON OF GOOD WILL
MERRY CHRISTMAS TO YOU THE READER AND SUBSCRIBERS! Please invite others to subscribe to this blog. Thank You!
This should have been posted before Thanksgiving Day. All the same,
“Better Late than never,” and on thanksgiving week,
I heard one radio announcer say:
“Thanksgiving is not a day, it is an attitude of the heart.”
Photo by nappy on Pexels.com
T – THANK and PRAISE God
for all things BIG SMALL
And do not forget
the precious people in your life!
H – HEALTH AND
are things we can all be thankful for
even if we are ill at a hospital
A – APPRECIATE and ADMIRE
the beauty of God’s creation
N – NAME and NUMBER
your blessings
its a rewarding experience,
including the precious people in your life.
K – KINDNESS and THANKSGIVING
in the heart
are twin siblings in the same home.
S – A SMILE and a CHEER;
want to see it on the face of the deserving?
Just say, “Thank You!”
from the heart
and with a warm smile
G – GIVING and RECEIVING:
The one exists not without the other
I – ICTUS;
Five Greek letters for ‘fish
Jesus, Christ, God, Son, Savior:
at least one reason to “give thanks!”
V – VISION and VALUE:
Nothing says:
“I see and I value what you have done” like when you say
I – INSIDE and OUTSIDE:
A thankful heart outwardly
N – NICE and NEW:
Thanksgiving is always that
Photo by Panos Sakalakis on Pexels.com
G – GOOD to GREAT:
‘Good Gifts’ ‘GREAT GIFTS,’
when it is received with a heartfelt:
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We are Designed by God to Reach out to Him and to Others; To Reach Out for Love and Towards our Dreams!
Reach!! 