14Dec 2023 by Russ

Getting Clarity is the Number One Key to Improving Your Money Situation!

Uncategorized
As I have coached clients in 2023, a common theme has emerged. In fact, 100% of clients coached this year report the same concept has made a positive difference in their money. As they gain clarity and understand their money better, their money seems to last longer and they gain confidence in their ability to manage their money. In the early stages of working together, clients record all spending. That seems like a lot of work. It does require commitment to the process. That commitment produces tremendous results. The reduced stress is worth the work. (actually, it is not a lot of work) In a couple of weeks of journaling your spending, a picture will emerge. You will begin to see where your money is going. It will help you…
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03Jul 2023 by Russ

Wild Money Success

Blog, Getting Started
How would you define Wild Success for you and your money? Would you think in terms of a dollar amount in your checking account? Would you measure success by your 401k balance? Your portfolio? Maybe success for you is having a big house and a beach house? Or, Money Success may be measured by how much you give away each year. If you are to achieve Money Success, you must define what that means to you. Take some time with a pen and a piece of paper. At the top of the page write "Wild Success with My Money Means:" List as many ideas that come to mind. Be unreasonable in your thinking at first. Later, come back to your list and edit it. Is it possible to accomplish your…
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13Jan 2021 by Russ

Budget Defined: Spending Plan

Uncategorized
A budget is a spending plan.  It tells your money where to go before you spend it.  A budget puts you in control of your money so that you don’t wonder where it went.  In its simplest form, there are a few steps to creating a budget. You enter the amount of income that you are about to or have just received.  Then you list where you are going to spend that money.  That may be food, rent or mortgage, utilities and other recipients of your hard earned income. Subtract the total expenses from the income.  The remainder should be zero or a positive number that can be put into savings. It is that simple.  Your budget or spending plan is not that complicated.  Visit russbellmoneycoach.com/blog/ for help creating, or…
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24Mar 2020 by Russ

Overcoming Fear

Blog, Budgeting, Money Worries
How are you handling the fear that can take over during times like these?  I have heard many suggestions for handling fear.  Perhaps one of these will help you: 1. Trust God and remember that He is in control.  Spend some time reading his Word.  Read 1 John or Psalm 139.  Let God speak to you through his word.  Spend some time quietly meditating on Him and His word.            This post could stop right here and that would be fine.  2. Connect with your family. The next thing you should do is to call your family.  Maybe you have not talked with a family member in a while.  Take a moment and call.  If you don’t know what to say try this, “I am thinking about you and want to…
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11Feb 2020 by Russ

Your Budget start in 2020!

Budgeting, Getting Started, Spending Plan
How are you doing with your money in the new year? People that I talk with answer that many different ways.  Some say that they are doing well.  Others say that nothing has changed. People that are doing well with their money report that they have more confidence that they know where their money is going.  Their budget or spending plan is not perfect but it is getting better.  They are making progress in being more effective telling their money where to go.  They have set some goals and are making progress toward them.  It may be a starter emergency fund or beginning to reduce debt.  The common denominator of progress with your money is a budget. Those people that are struggling with money are frustrated.  Some of them report…
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03Dec 2019 by Russ

Components of a Financial Assessment Part 2

Budgeting, Financial Assessment, Getting Started
Components of a Financial Assessment Part 1 listed the beginning of understanding your own financial situation. The first steps include determining your Assets, Liabilities and Net Worth. Next, list your income and expenses. You need to know how you will track or record your financial transactions. Then, begin building your budget-the key to controlling your money and financial future! After understanding these ideas, here are a few ideas for your next steps! Do you have a will?                 Having an up to date will is a great gift to give your loved ones.  You know you need one.  Begin to think about your will and the directives that you would have for your assets.  Take the steps to create an online will or talk to an attorney to begin the…
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08Nov 2019 by Russ

Components of a Financial Assessment

Budgeting, Financial Assessment, Getting Started
In order to start on the journey to Financial Peace of Mind, you first need to determine where you are. This means that you need to assess your financial situation. This might seem scary, but no matter how good or bad the situation, the more you understand the situation, the easier it will be to improve it. You may have heard the saying that a problem understood is a problem half solved. After completing a financial assessment, you will have taken the first step to understanding where you are with your money. You can then set realistic goals for you and your money Today, we will look at fundamentals of a financial assessment, and in the next blog post we will discuss other aspects of a personal financial assessment that…
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10Oct 2019 by Russ

Why Budget?

Budgeting, Money Worries
Before talking about what it’s like to live with a budget, let’s look at life without a budget. You can let each dollar do its “own” thing. Have you ever heard someone say that as long as they have checks in their checkbook, they can write them?  That is not taking into account what the balance may be or what checks may have been written.  Folks also will write checks and keep a register but do not have a plan for their money.  It may be possible to operate without a plan for a while and be OK, but it will catch up with you.  But this way of dealing with your money is characterized by: In the back of your mind you are concerned about cutting it too close…
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25Sep 2019 by Russ

How to Eliminate the Sleepless Nights!

Budgeting, Getting Started, Money Worries
How do you eliminate the sleepless nights caused by your money worries?  How do you eliminate the sleepless nights caused by your money worries?  Your mailbox is a constant stream of reminders that you are late or past due or overdrawn. You want money peace of mind! You know that you should be able to be better at handling your money.  You know that you are capable of getting this under control!  What is wrong with your system?  You may need accountability.  You may need a new system. Most people are struggling with money, in fact, 76% of Americans live paycheck to paycheck.  Perhaps you can identify with this struggle.  You may have wondered where your money has gone.  You may have found yourself with too much month at the…
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12Sep 2019 by Russ

How do I start?

Budgeting, Getting Started
What do I Need to do to Begin Gaining Control of My Money? Four Essential Steps! What are the fundamentals that you need to have in place to gain control of your money? The Tools: List of Assets or things that you own.List of Liabilities or things that you owe.A register or list of money transactions.A budget or spending plan. List of Assets that you own: This list is the place to begin. The list the assets includes cash on hand, checking account balances, savings account balances, retirement balance and other investments. This list includes items that you could easily convert to cash. The only other asset type that should be included in this list is real estate that is in your name. For this list, do not include items…
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