Manage Your Money God's Way

Filing your tax return is a once-a-year event but paying attention to your taxes all year could easily save you thousands of dollars. The goal is to be tax neutral–not paying too much or too little. The  Compass blog  has more on what to consider in adjusting your W-4 so you can come out as close as possible to that net zero goal. Our guest on this podcast is Matt Marcoux, CFP and co-founder of CandorPath Financial.

The WealthSimple.com website features interesting people telling their financial life stories in their own words. While many of the stories are uplifting as people have gotten their finances straightened out, many of the stories are so sad as the people have gotten themselves in to terrible financial situations. This is the story of one couple who did just about everything wrong in their finances. AND they continue to make the same mistakes. Here’s their story and suggestions about how we at  Compass Catholic  can help people recover from these same mistakes.

Money can ruin a marriage or make it stronger. Couples who are opposites when it comes to money can be in never ending conflict unless they find a way to work together. Surveys show that couples who talk about money, share financial goals and make joint financial decisions report happier marriages than those who don’t. The Compass Catholic podcast and  blog  this week are about why it is so important for couples to work together to manage money in their marriage.

No matter how careful you are when buying goods or services, you may run into problems and when that happens, here are tips on how to get your complaint heard and resolved: Be very clear about the problem Define the resolution you expect Mention the company’s reputation Follow the complaint process if there is one Complain using e-mail, or in person, rather than phoning Keep track of the details Use social media If you don’t get the response you want, say so Take it to the next level The  Compass Catholic blog  has more details about how to complain and get the resolution you want.

The failure rate for keeping new year resolutions is 80%.  What seems like a good idea at the time can turn into drudgery if you don’t have a solid plan in place for how to actually keep the resolutions you make—whether you make them at the beginning of the year or the middle of July. Here are 7 Steps to help you keep those resolutions: Make one or two resolutions, not more Define the reason you want to make the change Make sure your resolution is achievable Make your resolution part of a long term goal Make the resolution very specific Automate as much as you can Check you progress regularly The  Compass Catholic blog  has more details about the above suggestions for actually making the change you want in your life.

Are you confused by trying to figure out whether it’s better to pay off debt or invest?  The answer is to do both in an organized approach. Just like losing weight includes both diet and exercise, a solid financial plan includes both paying off debt and investing for the future.   Before you start investing aggressively, there are some basic financial principles to put into place, such as tackling credit card debt, having an emergency fund and setting up a spending plan. Listen in or  click on our blog link  for suggestions on getting your debt paid off so you can invest and meet your long term goals.

Is your financial vision 2020? You’ll never know unless you do the financial version of an eye test by performing a financial health checkup.  Figure out your current financial situation and define what’s going to change or remain the same in 2020. Match that against your short, mid and long term goals to see what you need to modify to improve your financial vision. The  Compass Money Map  is a great place to start and the  Compass blog  has more about a financial health checkup.