Starting Over Financially

Revisiting beneficiaries

I’m Miriam  Neff-with STARTING OVER FINANCIALLY,-and I’m Valerie Neff Hogan, and we’re here to talk about money M Details, details.  Life changes, children grow up.  Sometimes we forget to change important documents with those changes. V  Remember that retirement savings plans, Ira’s Roth IRAs and 401 (k) plans go to the beneficiary noted not the heirs mentioned in the will. With small children, you should have designated a guardian and a will or a trust with a financial plan for them.  Visit those documents regularly to make sure they match life changes, people changes, including marriage and divorce. M  Not […]

Remarriage

I’m Miriam  Neff-with STARTING OVER FINANCIALLY,-and I’m Valerie Neff Hogan, and we’re here to talk about money M  Most women in the United States today are single.  Never married, widowed, divorced.  Marrying or remarrying after time as a single can bring joy, adventure, and challenges. V  Always, always discuss finances, expectations, like housing, and every aspect of what shared life will bring.  Upon marriage, all assets gained are shared unless predetermined plans are made and legally set in place.  Inheritance is important and revisiting wills a must. M Sadly I know women who swallowed the, ‘we’ll resolve that later’ phrase […]

Emotions matter

I’m Miriam  Neff-with STARTING OVER FINANCIALLY,-and I’m Valerie Neff Hogan, and we’re here to talk about money M One study showed that individuals were able to save more if they tied their plan to an item with sentimental value  or an item with a positive memory. Like a diploma, ora gift from someone you cherish.  That item reminded them of a value, with emotion. V Remembering the frugality of a grandparent, or your dreams after high school strengthens your resolve to achieve your goal.  Generosity, education, our goal gets personal.   We realize that changing financial habits is a hard thing.  […]

Obedience with finances

I’m Miriam  Neff-with STARTING OVER FINANCIALLY,-and I’m Valerie Neff Hogan, and we’re here to talk about money M I’ve seen individuals and couples grapple with finances and finally grasp a plan that means they live not just within their income, but with less so they can give and save.  I often see God step in and bless them in some unexpected way. V Obedience always gets God’s attention.  God delights in our planning, however, he may provide unseen solutions.  Proverbs 19:21  “The human mind may devise many plans, but it is the purpose of the Lord that will be established.”  […]

Changing bad habits # 2

I’m Miriam  Neff-with STARTING OVER FINANCIALLY,-and I’m Valerie Neff Hogan, and we’re here to talk about money M My financial picture had changed and I needed to trim my budget.  What was unnecessary?  For me, that manicure stop.  I love seeing my friends beautiful nails and I’m not saying this is a wise choice for any one else.  Just me.  At the risk of sounding trivial–but real, OK, I was self conscious for a bit.  But got over it. V For us, smart phones became dumb phones for awhile.  Name brand groceries became generic. M Scripture that strengthens me is […]

Changing bad habits # 1

I’m Miriam  Neff-with STARTING OVER FINANCIALLY,-and I’m Valerie Neff Hogan, and we’re here to talk about money M A repeated plan of action is like Ready, Aim, Fire.  A bad habit is like, Fire first and then try to recover from the consequence.  Spending has a parallel.  Plan, Compare, Buy.  Bad habit, Buy then borrow and regret the consequences. V What triggers that purchase?  Scrolling online, entering that favorite store.  Change the habit.  Shopping is not a good form of entertainment.  It brings discontent, debt, then regret and waste.  Not my top choices in entertainment. M  Ask God for wisdom […]

Changing habits

I’m Miriam  Neff-with STARTING OVER FINANCIALLY,-and I’m Valerie Neff Hogan, and we’re here to talk about money M Habits are stubborn.  Helpful– we routinely start a vehicle, brush our teeth, no thought.  Harsh–we spend on something we don’t need or simply waste money. My work commute included a drive through coffee, more expensive than coffee made at home.  I could afford it. It was within budget but was it the best use of my money? Val  When finances change, its hard to change those habits. Habits take awhile to change, so make sure yours are good habits even in the […]

Loaning money, relationship impact

I’m Miriam  Neff-with STARTING OVER FINANCIALLY,-and I’m Valerie Neff Hogan, and we’re here to talk about money M Old testament directives defined how loans could be made.  It might be with a cloak for security or years of work to pay back.  Imagine the impact on that relationship.  He has my cloak until I pay him back. I work for him practically as a slave, until I repay V Today’s loans are different, but relationships are still impacted.  An emergency?  Consider a gift instead of a loan, so that relationship barriers are  not erected. M Lender/debtor overtones and master/servant feelings […]

Financial anxiety

I’m Miriam  Neff-with STARTING OVER FINANCIALLY,-and I’m Valerie Neff Hogan, and we’re here to talk about money M A 2016 study found that 85% of adults in the United States feel financial anxiety–up 33% over the past 3 years. 62% have less than $1,000 in a savings account. V To alleviate anxiety, discover the biblical foundation for finances first and then have a person wise in financial matters you can talk to.  Get clarity on what you can spend, and your retirement expectations.  Having a safety net reduces financial anxiety then save, save, save. M While budgeting and planning might […]

Indulgent grandparents

I’m Miriam  Neff-with STARTING OVER FINANCIALLY,-and I’m Valerie Neff Hogan, and we’re here to talk about money M We can’t talk about generosity without talking about over indulgent grandparents. Its important, but not always easy to respect the role of parents in training their children.  Just like too many chocolate chip cookies, more is not necessarily better. V Communicate, communicate.  Mom, you value education; we share that value. Same with meaningful travel, world experiences, but not really new fancy cars.  What you provide for shows your children and grandchildren what you value. M  Consider helping them start a Roth IRA. […]

Generosity # 3

I’m Miriam  Neff-with STARTING OVER FINANCIALLY,-and I’m Valerie Neff Hogan, and we’re here to talk about money M You hear us say often, Do your givin while you’re livin.  Give with a warm hand. Let’s talk about special circumstances for giving. V Weddings  Plan ahead. Whose wedding is it?  Set limits in that plan.The wedding couple and their family need to be realistic.  It’s one day.  An important but single day.  You should not be in debt over a single day event.  Beginning a life together in chains of debt is not love.  Proverbs 16:3  Commit to the Lord whatever […]

Generosity # 2

I’m Miriam  Neff-with STARTING OVER FINANCIALLY,-and I’m Valerie Neff Hogan, and we’re here to talk about money M Scripture is full of instruction on money.   Practical instruction.  When we have surplus to help others, we need to be wise. Note:  I said surplus.  Giving that jeopardizes your ability to provide for yourself is never wise. V A good question to ask is this better done as a gift or a loan? Is repayment realistic?  Can and will I forgive if they default?  How will I feel? How would no repayment effect the relationship?  What about interest if any and the […]