Blog - Russ Bell Money Coach

03Jul 2023 by Russ

Wild Money Success

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…

14Dec 2023 by Russ

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

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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…

20Jul 2023 by Meghan Smith

More Ideas on Wild Money Success

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The last Blog Post asked you to consider how you would define Wild Success with your money. What does it look like for you? For many of my clients, in the early stages of gaining control of their money, Wild Money Success is simply knowing that more money is coming in than is going out. Having a monthly, money surplus seemed impossible only a few short time ago. Now a surplus is happening every month. That is one definition of Wild Money Success! It is a great first step! It is something to build on. Be careful of Social Media. Social Media skews our concept of Money Success. It seems that everyone you know is off on a big trip or out to a fancy dinner. The truth is that…

12May 2021 by Meghan Smith

Ten Random Thoughts of a Person that is NOT in Control of Their Money!

Getting Started, Money Worries

1. I wonder what my bank balance is. 2. How many credit cards do I have? 3. Which credit card has a little room for dinner or a fill up at the gas station? 4. Thank goodness I haven’t gotten an overdraft notice this month. 5. One of these days I will start saving. 6. If I could get a big raise, all of my money problems would be solved. 7. I wonder how all of my friends can afford their cars and boats and trips. 8. A budget is just too restrictive. 9. One day I’ll be OK with my money. 10. Maybe I’ll win the lottery and then I’ll be rich. Can you identify with any of these thoughts? Maybe today you have thought one…

20Jan 2021 by Meghan Smith

Income and Expense Register Defined

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The last post defined a budget in a simple way. A budget is a spending plan. It is a key tool to use when you want to gain control of your money. Another tool to use in your effort to gain control of your money is the Income and Expense Register. An Income and Expense Register records, or writes down, money activity of inflow (income) and outflow (expense) for your money. A check register is a good example of an Income and Expense Register. For each transaction enter the date, received from or paid to name, the amount to be added or subtracted from the prior balance, and the new balance. Common registers are a check account register or a saving account register. A register for ATM or cash withdrawals…

13Jan 2021 by Russ

Budget Defined: Spending Plan

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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…

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…

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…

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…

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…