Category Archives: Financial Evangelist
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- What are your qualifications and background in financial planning? – As much as possible you want to check and investigate the credentials of your potential adviser. Trust is the currency of relationships. If you think their competencies won’t work with you. Be honest and decline their services.
- What services do you provide? Financial Adviser is a general term that offers a lot of services such as providing a detailed plan for insurance, estate planning, debt resolution and even coaching. They are preventing you from getting scam. Understanding what they offer will lead to growth of your asset and finding a long term resolution to your existing problem.
- How does your faith affect your investment philosophy/strategy and recommendations for clients? Advisers are summation of values, beliefs, habits and life experiences. Extracting this will give you an idea whether your potential advisers have biases that might not be beneficial for you. If it make sense, it will make sense.
- How are you paid? Knowing how your potential adviser will be compensated from their expertise is essential to maintain really good working relationship with them.
- How much do you typically charge? This will reveal if you can afford them. Knowing the process on how they charge will give you more ways how to maximize your advisers expertise. Prepare for this so you can gain more from it.
- What products do/don’t you put clients into? Advisers are expert into looking in a macroeconomic issues and risk mitigation. Advisers should be updating you what current risks you may have. Diversification to gain risk will help you to win long term.
- What is your average portfolio size? Don’t hesitate to ask this because advisers will share their current achievement thru this way. Many people trust them so this means it is a plus factor that you just don’t give your money to someone who will run it whenever they want.
- What resources do you have to address issues outside your area of expertise? I love people who are creative when it comes to maximizing their resources. Asking this will reveal how they will exceed your expectations in the long run. Will they be happy to collaborate with someone just to simply make you happy?
- How do you communicate with clients? How often? Constant follow up will play a big role when it comes to building your wealth. As a client you would like to have an excellent customer service thru communication especially when your investments in stock market or mutual funds are going down. Informing you the best strategy will help you to be more equip.
- Will I work with anyone else in your office? Collaborating with other people in taking care of clients is good but with proper endorsement this will be excellent. Your potential advisers may not be jack of all trades but they are master of something and that is what you want. Your adviser knows a lot of people so he/she can ask someone too work with you to win long term.
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Get closer to God You may either have sufficient funds or not but without peace inside you won’t last this journey. Tough battles are ahead of you but being with God will keep your sanity within. Many single moms are distress with too much stuff in their minds. Without faith to the One who holds the future you may end up in chronic depression that may lead into suicidal thoughts. According to circleofmoms.comthe most common problems of single moms are no sounding boards when making decisions, taking care of the kids without someone to consult with during the middle of the night. You are not on your own. God cares for you His daughters no matter what happens specially with your life .
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Art. 194. Support comprises everything indispensable for sustenance, dwelling, clothing, medical attendance, education and transportation in keeping with the financial capacity of the family.
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Credit card debt Never ever use your credit card as your emergency fund. If you are already in debt don’t lose hope. There are a lot of ways how to take care of those things. Talk to someone who is financially inclined. Don’t talk to your family members or friends who are also broke. They will not give you the best advice to win. Just find a winner who have gone the same issue and found a way. Keep asking. Look for forums. Use the internet and the mighty power of google. There a re a lot books who talks about debt. U2 said a famous line Sometimes you can’t make it on your own.
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More than that, we rejoice in our sufferings, knowing that suffering produces endurance, and endurance produces character, and character produces hope, and hope does not put us to shame, because God’s love has been poured into our hearts through the Holy Spirit who has been given to us
Start with why you are doing this?
Example of BIG WHY
· To make sure I can be financially free and pass this legacy to my family.
· To be an excellent steward when it comes to finances.
· To support nonprofit organization and help campus missionaries.
2. Emergency fund
3. Saving goals
4. Debt plan
Please don’t ever go to investment without paying your debt first which earns a higher interest rate. Your debt plan should include how much you need to pay for every single cent and when you will be debt free. The plan is you need to stick to it no matter what happened. When you put it in paper you can see the big picture. The reason why you don’t want to be debt free is very simple; you think everyone is in debt so you think you are in the zone. Live like no one else so you can live like no one elsesays Dave Ramsey. Debt snowball is a really good strategy, you pay the debts that you can eradicate first and as you get the momentum it will be very hard for you to break it.
5. Estate plan
You are accumulating a lot of assets now and your investment is off the chart. Estate planning is not only for the rich kids, it is for everyone that you love. Your legacy to your family is important even when you depart; no one will plan for your family so take responsibility for yourself. Be selfless and take time to check your current assets over liabilities. Remember that you don’t want to add up to the inconvenience of your family members once you evaporate from this world.
6. Insurance coverage
8. Read Books, Attend seminars, join a Face book group and find a coach.
Your unique plan is totally not identical with anyone so don’t copy someone’s financial plan or strategy. How you manage your finances while you are working is a glimpse of your future financial plan during retirement. You can change your tomorrow today. With the help of our God who holds the future and your willingness to make sacrifice you are surely going to win long term.
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