Jodee Brydges

The Healthy Balance

October 13, 2019 by Jodee Brydges Leave a Comment

Maintaining Financial Health Through the Holiday Season

We all know the drill; we vow each year to spend less and watch our intake of food and alcohol during the holiday season. But the spirit of the season is contagious. We gather with family, friends, and coworkers and share an abundance of food, toast to good health, a vibrant New Year, and shop til’ we drop!

Like a bad cold virus, we all catch it quickly and the next thing you know, the holidays and parties are over, the credit card statements start arriving in the mail, the scale moves up a few pounds, and the New Year starts with the post-party blues versus the bang we all anticipated.

Whether you can afford to pay off the debt or not, overspending and adding an angry inch to the waistline can take the pop out of the champagne bottle and leave the memory of the firework display to feel more like a dud than a grand finale.

So how do you enjoy the holidays without having the pain of the after-party? One word, MODERATION. Like anything in life, moderation is the key. Regardless of income level, where you live, or your background, moderation is the key to maintaining your financial (and physical) health during the holiday season. A little preplanning blended with a few challenges can spark creativity, keep you on track financially, and reduce the stress of spending.

The holidays entail loads of lists from grocery shopping lists to gift lists and from decorating lists to entertaining lists. Beginning with entertaining, create a list of all the events you are planning to host and determine how many people will be in attendance. For example, if you are hosting Thanksgiving, make a list of the family and friends who will join and create the menu. Make the menu list as detailed as possible (e.g., appetizers, entrée, side dishes, desserts, beverages, wine, cocktails, etc.).

Challenge: To keep expenses down, ask each person to bring a dish, bottle of wine, or specialty cocktail. Not only does this reduce the cost of hosting, but it also shortens your to-do list and allows guests to showcase their favorite dish or libation. Guests love to help the hostess and contribute to a memorable event.

If you plan to host a holiday party, choose a fun theme and involve your guests. Parties do not have to involve massive amounts of food, nibbles and cheer are typically preferred. Host a wine and hors d’oeuvre party or cookies and cheer party.

Challenge: Ask each guest to bring a bottle of wine, hors d’oeuvre, or a plate of cookies and set a limit on the amount everyone can spend on a bottle of wine. This is a fun, creative, cost-effective way to host a party, have tasty nibbles versus a heavy buffet, and host an evening full of laughter and cheer without breaking the bank—or adding inches to the waistline.

Shopping and gift lists should include gifts for family, friends, colleagues, clients, teachers and hostess gifts. If the list is ridiculously long, reduce the number of individuals you buy for and ask family members to draw names. Family members will likely thank you for introducing this idea as many are in the same boat and would rather spend quality time with you than go into debt buying gifts.

Challenge: Set a limit for the amount each person can spend on the gift and find ways to get creative with gifts. For teachers and colleagues, bake your favorite holiday treat and give a little to everyone on your list. The thought and time that goes into a homemade gift will go a lot farther than buying a gift card to a coffee shop.

Partner up with a family member or friend and coordinate a day to shop together. Find a sale day, coupons, discounts, or offers. Refrain from the temptation to shop for yourself or get lured into retail offers that encourage you to spend more to earn rewards. The rewards can be tempting, and many are not valid until the New Year.

Challenge: Shop together and encourage your partner to only purchase items on the shopping list, share deals and cool gift finds, and see who can save the most. The one who saves the most money wins a small prize (a cup of coffee, lunch, or a baked goodie).

If you start the season well, you can end the season well. Doing so will help you jumpstart 2020 and put you on the path to your wealthiest and healthiest year yet.

I want to hear from you. Start a challenge today and follow me on Instagram (jodeebrydges1), and share the details of your challenge. Each post will enter you in a chance to win my book, Digging Out!

Jodee Brydges is a Loan Officer at RPM Mortgage and the award-winning author of “Digging Out: A Practical Guide to Getting Out of Debt and Paving a Path to a Secure Financial Future,” published by ALIVE Book Publishing. It is available on Amazon.com, BarnesAndNoble.com, and Target.

HOLIDAY HAZE

September 16, 2019 by Jodee Brydges Leave a Comment

Maintaining Financial Clarity One Holiday at a Time

Retailers are at it again! The kids have barely had the opportunity to unpack and use all of their cool new school supplies, and the aisles of retailers are being transformed into candy shops, haunted houses, harvest décor, and believe it or not, snowmen and Santa figurines. This transformation started to happen before schools were even back in session!

As if shopping for back to school supplies, clothes and getting into a new routine is not stressful enough for families, retailers want to inject a little bit of FOMO (fear of missing out) and get you spending on items that are 60 to 100 days away. Stores ranging from Safeway to Costco have been haunting and daunting consumers with bags of candy, costumes, and festive fall décor.

Just reading this article might start putting your brain into a frantic frenzy and give you a bit of retailer FOMO! But, stay calm and read on. There is still plenty of time, and definitely enough inventory, to fill your decorative dishes with candy corn, purchase your child’s favorite superhero costume, stage your front porch for a fall photo shoot, and deck your halls with holiday décor. The following tips will help you plan, organize and budget your way through the holidays without getting your tinsel in a tangle.

FOCUS ON ONE HOLIDAY AT A TIME

The first and one of the most important steps is to focus on one holiday at a time. Look at the calendar for the next few months and make a list of each holiday that you and your family celebrate. Once you have the list, take inventory and purge before you splurge.

TAKE INVENTORY

Next, take inventory of items that you already have and make a detailed list of what you need. Before you purchase one new item for your home or child, take the time to pull out all decorations, refresh your memory on what you have, and decide if you really need new décor. It is so easy to forget what is stashed away in a closet. Think about how many times you open a box of holiday loot and have forgotten what you had tucked away. Usually, when a holiday is over you are so busy packing up and restocking for the next, that the inventory becomes one big blur. Taking inventory avoids spending money on items that you already have or don’t need. If you find that items need to be replaced or updated, take the time to purge before you splurge.

SET A BUDGET AND MAKE A LIST

For each holiday, set a budget and make a list of items (or people) that you need to shop for. For Halloween, a list might include candy, parties, costumes, and décor. Set a budget with the total that you can afford to spend and then break it down by each item.

If you are over budget, revisit the list, revise/remove as needed, and get creative. If you have children, take the time to communicate the maximum amount each can spend on a costume. Or, get creative and have a contest on who in the family can make the most creative costume on a budget. Getting creative can add up to substantial savings.

For Thanksgiving, Christmas, Hanukkah, Kwanzaa use the same format. Set the maximum amount you want to spend and then break it down by category and individual.

Regardless of your income, taking the time to take inventory, creating a written plan, setting a budget, and sticking with it will eliminate holiday debt drama, allow you to plan with ease, and most of all enjoy every moment of the busiest quarter of the year!

Looking for more savvy spending tips, visit my blog at jodeebrydges.com.

Mid-Year Financial Review

July 10, 2019 by Jodee Brydges Leave a Comment

This year is just clipping by! It is hard to believe that it is July, halfway through the year, and on the fast track to the holiday season. Before we know it, retailers will once again be decking the halls. But, before we start stringing lights, let’s focus on the here and now and take the time to do a mid-year financial review.

Mid-year is the perfect time to reevaluate annual financial goals, review recurring monthly service expenses, and research and update plans to lower the overall monthly expenses associated with these services. Here are a few steps and tips on reducing the cost of monthly service contracts that can add up to significant savings on a monthly basis.

First, gather all the statements that you pay a recurring monthly fee to and stack each in a folder. The folder should include the following monthly bills:

-Cellular Phone

-Cable / Internet / Phone

-Mortgage

-Insurance (Home / Auto)

Next, schedule the time to call one provider each day for a week. For example, one day phone your cell phone company, the next day call your cable /Internet/phone company, etc. Each call will take approximately 20 minutes to discuss and compare the existing plan, to a new and improved plan, and make the appropriate changes with a representative. Scheduling one call per day will allow you to focus on one plan at a time and will help avoid phone call burnout.

Here are the details to discuss with each servicer:

Cell phone service: Cell phone providers have been forced to reduce monthly fees to keep up with the competitive marketplace. When you call your cell phone provider ask the representative to first review your usage for the last six months. If you are burning through your minutes or wireless data allowance, you may be incurring steep overage charges. Find a new plan that will eliminate the costly overage fees and provides enough data coverage to meet your average usage.

On the flip side, if you are not using your full allowance of minutes and/or data, find a lower cost plan that will meet your average usage. Calling your cell phone provider and reviewing current options available will typically result in a new plan with a lower monthly cost and better coverage. Saving $20 a month on a new plan adds up to $240 per year. Well worth a 20-minute call.

Cable/Internet/telephone provider: Similar to cell phone providers, cable, internet, and phone companies have also had to lower their monthly charges to remain competitive. If you do not already have a bundle package, take the time to call your provider and research one. A bundle package provides discounts that can significantly reduce your monthly bill. While discussing current plans with the representative, be sure to review your cable package and determine if you truly need all of the channels that you are paying for. If you are not a big TV buff and rarely sit down to watch a show, it may be time to pursue a more cost-effective package that provides basic cable or an on-demand service like HULU. Eliminating movie channels, sports channels and every other trendy channel can greatly reduce a monthly bill.

And, finally, evaluate whether you really need a landline. Many individuals use their cell phones as their primary contact number and eliminate the cost of a landline.

Mortgage: The Fed held off on lowering interest rates in June. However, this decision should not stop you from taking the time to review your current mortgage. Rates are at their lowest levels once again. This is an excellent time to talk with a mortgage professional, review your current mortgage and determine if it makes sense to refinance. One half-percentage lower in interest can translate to substantial monthly savings. It is also an excellent opportunity to consolidate a first and equity line of credit, potentially remove mortgage insurance, or take cash out for home improvements. There are mortgage programs available to help meet most financial goals. For a complimentary mortgage review, please contact me directly (jbrydges@rpm-mtg.com or 925-552-3863).

Insurance: Be sure to review your home and auto insurance policies too. Having both policies with one insurance provider or increasing your deductible can provide significant discounts to lower monthly / annually payments.

This month take the time to get your finances sizzling with savings! Service Providers will rarely call you to offer a lower monthly fee (even if a better plan is available). Be proactive and take control of your financial future. There is no better way to be cool this summer than to be financially fit!

Jodee Brydges is a Loan Officer at RPM Mortgage and the author of Digging Out: A Practical Guide to Getting Out of Debt and Paving a Path to a Secure Financial Future, available on Amazon.com.

“Even if you use only one good suggestion from this book (and this book is full of great ideas), it could save you thousands. At $16 that is a great return on your investment!”

Just Say “No” to junk Mail

June 11, 2019 by Jodee Brydges Leave a Comment

Tired of finding your mailbox, inbox, and voicemail full of unwanted credit card offers, insurance solicitations, and coupons and catalogs from retail companies? Investing just a few minutes of your time will allow you to “JUST SAY NO” to junk mail and pesky offers.

There is nothing worse than coming home from a long day, opening your mailbox, and having to spend time sorting, recycling and shredding loads of unsolicited offers. Taking the time to make a quick call, submit an online request, or mail a letter will not only significantly reduce the amount of time you spend sorting through the piles, but it will also reduce the temptation to spend and open new credit accounts. Here is the scoop.

Credit Card and Insurance Offers: Credit card and insurance companies purchase lists from the four Consumer Credit Reporting Companies (Equifax, Experian, Innovis, and TransUnion). These lists provide pertinent personal information about consumers which trigger the offers in your mailbox. However, under the Fair Credit Reporting Act, you have the option to “Opt-Out” and prevent Consumer Credit Reporting Companies from sharing your information for five years or permanently.

Simply phone 1-888-5-OPTOUT (1-888-567-8688) or visit www.optoutprescreen.com. You will be prompted to provide some personal information, including your home telephone number, name, address, and social security number. Having your name removed from credit card offers will remove the temptation to open new credit accounts and can help prevent identity theft. If you ever miss receiving these offers, you can “Opt-In” at any time by calling or visiting the website.

Junk Mail: The Direct Marketing Association has a mail preference service that allows you to reduce the amount of commercial advertising mail that you receive at home for five years. The quickest and most efficient way to remove your name from the “do not mail” list is to visit www.dmaconsumers.org. Click on the “Consumer Assistance” tab and then click on the “How to remove your name from mailing lists” tab. Fill out the required fields and pay the $5 fee (you can submit it online).

You can also print and mail the letter to the below address:

Direct Marketing Association, PO Box 643, Carmel, NY 10512

Please note, this service will not prevent companies that you do business with from mailing catalogs. For example, if you have a Macy’s card, Macy’s will continue to send catalogs on a regular basis. You will need to contact each retailer and request that they stop future mailings.

Email: If you provide your email address to any retailer you will get weekly or sometimes, daily emails from them prodding you with the latest seasonal items and sales. Stopping unwanted emails that come into your inbox will remove the temptation of clicking through, browsing, and then buying.

The Direct Marketing Association also has an Email Preference Service that allows you to opt-out of receiving unsolicited emails for five years. Visit www.dmaconsumers.org, click on the “Consumer Assistance” tab and then click on the “How to get your name off e-mail lists.” Or, you can unsubscribe to emails or report the emails as spam to reduce offers in your inbox.

Phone Offers: Another common tactic for soliciting consumers with tempting credit card offers are random calls on your cellular phone. Take the time to register your cellular phone number and your home phone number (if you still have one) by logging on to www.donotcall.gov. This is a free service that is offered by the Federal Trade Commission and helps reduce the number of calls.

Taking the time to “JUST SAY NO” and remove your personal information from these lists will significantly reduce the number of solicitations that you receive. It will also save you time, avoid the temptation to open costly new credit accounts, eliminate impulse buying and decrease the risk of identity theft.

Jodee Brydges is the author of Digging Out: A Practical Guide to Getting Out of Debt and Paving a Path to a Secure Financial Future, available on Amazon.com.

“Even if you use only one good suggestion from this book (and this book is full of great ideas), it could save you thousands.” ~ Amazon 5-Star Review

For more information about Jodee, visit www.jodeebrydges.com.

College and Cash

May 7, 2019 by Jodee Brydges Leave a Comment

How to Prepare Your Child Financially for College

It’s hard to believe that another school year is coming to an end. College acceptance letters have arrived in the mail and graduating students are buzzing with excitement about closing a grade school chapter and embarking on their college adventures. Graduating seniors will fill the summer months with hanging out with friends, summer jobs to earn money, shopping for dorm accessories, school supplies and packing it all up to head to a University or College.

For parents, graduation is bittersweet and filled with emotions, great pride, and a glimpse to the future of what the next generation will become. But it is also a time when parents make huge sacrifices to invest in their child’s education. And for many students and parents, taking on debt is the only way to pay for a college education.

According to the website Student Loan Hero, “Among the class of 2018, 69% of college students took out student loans and 14% of their parents took out Parent PLUS loans.” These statistics do not include the home equity lines of credit that many parents have also obtained on their homes to finance tuition. College is an expensive investment! Americans currently owe over $1.5 trillion in student loan debt, and regardless of where a child goes to college, the vast majority will graduate with student loan debt.

Students are transitioning from living at home and having a large portion of their expenses paid by mom and dad, to living in a dorm on a set budget. As students move away to college life, everyday expenses like meals, clothing, lattes, and entertainment must be budgeted. Parents should determine a monthly amount to send and students need to create and manage a monthly budget to make the funds last and avoid getting sucked in by credit card companies to take on debt.

The lull between graduation and the start of the next school year provides the perfect opportunity to sit down with your high school graduate and teach the life skill that will be needed throughout college and beyond—financial literacy.

Start by sitting down with your son or daughter and have a discussion about the importance of building a budget and learning to live within that budget. Set an amount that you are willing to give your child each month to cover monthly expenses, give them the amount while they are still home, and explain that the amount given needs to cover all expenses for an entire month.

Next, have your son or daughter monitor their spending habits with the funds for 30 days. The easiest way to do this is to deposit the amount into your child’s account and have them use a debit card to pay for all purchases. Try to avoid giving your child a credit card to track spending as this may develop negative spending habits since they are not limited to a specific amount.

At the end of 30 days, take the time to review all expenses and break the expenses into categories such as these: Coffee/Breakfast; Lunch; Dinner; Entertainment; Gas; Clothing; Sports/Fitness; etc.

Review the spending activity with your child and determine if the budgeted amount covered all expenses. If the spending was under budget, carry the funds to the following month or transfer the amount to savings. If the spending was over budget, make the necessary cutbacks to stay within budget. For example, if entertainment is over budget, cut back that expense. Review each category on the list and adjust where necessary.

Additionally, make adjustments to the categories prior to the start of the school year. If your child will receive a meal card each month, replace breakfast, lunch, and dinner with the expense of the meal card and add a category for dining out. Set a limit to the number of times the child can dine out. Or, gas may be replaced with a bus pass while in college. Modify where necessary.

Reviewing spending habits now will allow each of you to make adjustments to stay within the budget. It will also help your child avoid getting into credit card debt should they run low on funds. Credit card companies are notorious for luring in college students by offering free t-shirts, credit cards with school logos, or miscellaneous sign-up gifts. Innocently filling out an application for a credit card can end up being one of the costliest mistakes a college student can make.

Teaching your child money management skills now will provide them with the financial literacy needed both during and after college and will establish smart spending habits to avoid getting into credit card debt.

Jodee Brydges is the author of Digging Out: A Practical Guide to Getting Out of Debt and Paving a Path to a Secure Financial Future. Digging Out is available on Amazon.com.

I wish I had this book when I was younger. This should be a gift to all graduates, start them off with a good understanding of the importance of getting a handle on their finances. ~ Amazon Review

For more information about Jodee, visit www.jodeebrydges.com.

Clutter and Cash

April 7, 2019 by Jodee Brydges Leave a Comment

How Purging Clutter Can Uncover Spending Habits

Recently, I had the pleasure of attending the book talk of New York Times Bestselling Author, Gretchen Rubin. Gretchen just released her new book, Outer Order, Inner Calm and delivered a joyful discussion about decluttering a home to make room for happiness.

While driving home I started to think about this hot topic “decluttering” and wanted to understand how individuals have gotten so deep in clutter. There had to be a common source. Within minutes of taking the time to dig a bit deeper, the root of the problem became vividly clear. Knowing the source of the problem is the only way to truly prevent repeating the habit of getting buried in clutter.

Decluttering a home is definitely a learned skill and I applaud these women for writing such incredible guides that are helping millions of people shed pounds of unwanted goods, organize homes, and learn to live with the concept that “less is more.” But, one thing not discussed in either book that, in my opinion, is the source of the problem, is SPENDING! Clutter goes hand in hand with poor spending habits that if not kept in check, clutter creeps back into a home. How many times have you cleaned out the garage, a closet, or a desk only to find a few years (or months) later that the same decluttered space is packed full again with items that you a) don’t need and b) never use? This happens to all of us!

Regardless of which system you choose to purge unwanted items, adding the additional step of identifying the items creating the most clutter and then reviewing spending habits behind purchasing these items, will help break the habits that led to clutter in the first place. It will also eliminate the buildup of clutter in the future and save you money. Every room, closet, box, or drawer presents an opportunity to identify where money is being spent on unneeded items. But before you just dump and donate, use the below tips to help break future clutter habits:

Take inventory

As you clean out each closet, drawer, or room, take the time to look for duplicates, review the items that you are giving away or selling, and write down the quantity of each item. For example, while cleaning out a clothes closet stack the items into groups(e.g., shirts, pants, shoes, handbags, etc.). Before you pop everything in a bag and donate the items, grab a notebook, review each stack, and write down which items make-up the largest portion of the donation. Once noted, immediately put the items in a donation bag.

Most donated awards

Next, review your notebook and determine which items win the largest donation pile. For ladies, most donated pile may be shoes or clothes. For the gentlemen, the pile may be tools from the garage or a coffee cup collection (random, but true). For kids, the list may range from clothing to puzzles or books to squishies.

Recognize spending habits

Sit down as a family and review the quantity of items being donated. Determine the purpose of buying such a large quantity of each specific item and ask the following questions. Were the majority of the items purchased on impulse? Is there a pattern of buying in bulk? Were the items purchased a “need” or a “want?”

Knowing the above will help identify spending habits. If items were purchased on impulse, going forward, take the time to think about a purchase before buying. Go home, review what you already have, and decide if the item is a necessary purchase. If items were purchased in bulk, buy less the next time and see if you can make do with one versus several. Always ask if the item is a “need” or a “want.” We tend to always want new things, but seldom do we really need them.

Jodee Brydges is the author of Digging Out: A Practical Guide to Getting Out of Debt and Paving a Path to a Secure Financial Future. With over 30 years of experience in the financial industry, Jodee is a financial coach, speaker,and currently works at RPM Mortgage in Alamo as a loan originator. Jodee can be reached at jodee@jodeebrydges.com.

The Heart of the Spending Matter

February 9, 2019 by Jodee Brydges Leave a Comment

The year is off to a roaring start and time is not slowing down. January is in the books and here we are in February. Love is in the air and retailers have been gearing up since January 5th to share the love of more spending. Yes, you read that correctly. I was in a local store on January 5^th, wondering the aisles, looking for the deeply discounted holiday merchandise, hoping to stock up on wrapping paper and bows for next year and “poof” just like magic, the aisles had been transformed from a holiday wonderland to a sweet celebration with an endless supply of heart-shaped boxes filled with tasty treats.

I stopped and thought, wow, the term “that’s a wrap” has taken on a whole new meaning! Folks are still trying to get over their holiday spending hangover and settle into their new year resolutions. You know the resolutions: to cut spending, start saving, get out of debt, and live a healthier lifestyle. Meanwhile, retailers are pulling at your heart strings by providing the perfect balance between temptation and impulse buying.

Seeing all those tasty, sweet treats provides the temptation to 1) get you shopping again (because the holiday season did not give us enough retail therapy). 2) Break your new year resolution to live a healthier lifestyle (one chocolate won’t make a difference). 3) Fill your mind with the FOMO (fear of missing out) symptom that if you don’t impulse buy today, the treats will be gone, and you won’t have a card, stuffed animal, or heart-shaped box filled with candy for your loved one(s). Before your heart skips a beat from the stress of shopping for the loves in your life, take the time to review the goals you set in January and develop a plan to stay on track! Believe me, there are plenty of ways to share the love.

Valentine’s Day has become a multibillion-dollar day. According to the National Retail Federation, consumers will spend $19.6 billion. So how do you share the love without experiencing the spending rush followed by the sweet spending crash once the day is over and the bill arrives in the mail? I have mentioned these tips before but, repetition is the key to forming new and improved habits (especially when it comes to spending).

Start by making a list of the family members and friends that you want to buy for (e.g., spouse, children, siblings, grandparents, friends, coworkers, teachers, etc.). Write down the name of each and what you want to buy for each. List items like cards, candy, gift cards, and dining out. Then, review the list and determine if you “really need” to buy for everyone on the list. If you don’t, eliminate names from the list.

Next, set a budget of the maximum amount that you want to spend on everyone and divide the amount between those listed. For example, if the maximum amount you want to spend is $100 and you have four loved ones on your list, note $25 for each. Or, spend $40 on one person and $20 each on the remaining three. If you plan on dining out that evening, be sure to include that figure in the budget too and then reduce the amount for each person on the list.

When you venture out or online to shop, take the time to search for deals and coupons online, stick to your list and your designated budget, and don’t waiver and buy additional items. Once you fill your cart (either online or in the store), review the total of all the goods to confirm that you are within your budget. If you are over, put items back and get creative. I know this sounds harsh, but the reality is, cards and candy add up quickly. Last year, I had four cards in a basket, when I added the price of the cards up, the total was $25! The cards went back on the shelf and I got creative.

Getting creative will help you stick to a budget, help you avoid the temptation of spending, and could help the recipient with a new year resolution too! If you know that a loved one is trying to eat healthier or exercise more, give the gift of a coffee card and a walk together versus a box of chocolates. If a friend or relative is trying to get out of debt, support them by cooking a meal at home versus going out. If cards put you over your budget, make fun cards for your loved ones. If sweet treats are a must, take the time to bake festive brownies or cookies. Recipients will appreciate the time you invested in making a homemade goodie, card, meal, or joining them on a walk far more than a store-bought gift. Getting creative allows you to stick to your goals, help a loved one stick to their goals, and give gifts made from the heart. Isn’t that what this day is all about anyway?

Need additional ways to get to the “Heart of the Spending Matter,” visit my website, www.jodeebrydges.com where you can find blog posts and links to purchase my new book “Digging Out.” Digging Out has a wealth of tips that will help you stay on track and meet your financial goals in 2019!

Get Your Financial House in Order in 2019

January 9, 2019 by Jodee Brydges Leave a Comment

A new year is upon us which brings the gift of new beginnings, goals, and resolutions. It is the time of year when we reflect on the previous year and determine what goals we want to achieve in 2019. With each new year we strive to make this year better than the last. As mentioned in last month’s article, the top two resolutions and goals each year include: 1) Living a healthier lifestyle by eating well and exercising more and 2) improving financially by getting out of debt and saving for the future.

This month we are going to kick off 2019 with a goal to “Get Your Financial House in Order.” For some, reviewing finances can be overwhelming and can leave you feeling like you are the only one not on the right financial track. I am here to tell you, you are not alone.

The National Retail Foundation expected retail sales in November and December to total between $717 to $720 billion in 2018. That retail sales figure, along with the outstanding credit card debt figure, have been rising consistently since 2009 when our economy suffered the greatest financial crisis since the Great Depression. Since the financial crisis, revolving debt has exceeded the all-time high set in 2008 and is now in excess of $1.023 trillion. An online survey by Nerdwallet found that almost 73% of respondents said the bulk of their holiday spending would be on credit card and found that over 39 million Americans haven’t yet paid off their holiday bills from 2017.

That said, it is no wonder that improving financially is one of the top resolutions. Millions have turned to credit cards to pay to deck the halls, make their list and check it twice, and ring in the new year in Rockstar style. Consumers nationwide are suffering from a holiday spending hangover that can’t magically go away with a dose of Alka-Seltzer.

Although it was the most wonderful time of the year, and everyone deserves to enjoy the holidays, the credit card statements are starting to arrive in the mail (or inbox) and Americans are going to need a little bit more than a little “drop, drop, fizz, fizz” to take this headache away. Having a solid plan in place is the only cure that will start the year off with a financial bang!

As you ponder ideas of what you really want to achieve in 2019, make your financial goals a top priority. Start by gathering every statement that arrives in the mail (or in your inbox) and face your current financial facts. When each statement arrives, whether it is a credit card or student loan statement, take the time to review the statement in detail, document the findings, and set financial goals.

Step 1, Review Each Statement: As statements arrive in mail, don’t just tear off the coupon with the amount due and shred the evidence. Grab your highlighter, take the time to review each statement, and highlight the following findings:

Step 2, Document the Findings: Once you have highlighted the above items for credit cards/loans, document each on one page using the following chart:

Step 3, Face the Facts: Total and review the amount that you owe on all credit cards/loans and make a commitment to pay all, or a portion of, the debt in 2019. For example, if you owe a total of $10,000 in credit cards, write down an amount you want to pay off in 2019.

Step 4, Breakdown the Goal: Once you have determined the payoff amount, take the amount, divide by 12 and set your monthly goal. For example, if the goal is to payoff $5,000 in 2019. Take the $5,000, divide by 12, and set a goal to payoff $416 per month. Breaking the goal down into monthly bite size chunks will give you monthly results that will help build the momentum needed to achieve the annual goal.

The hardest step is always the first one. Take that step today and use the above steps to make 2019 your best financial year yet. By getting your financial house in order in January, all your other goals will fall into place.

For these and many more financial ideas, be sure to visit my website jodeebrydges.com and pick up a copy of my new book Digging Out, which is full of practical advice to help you obtain your financial goals in 2019.

Wishing you a new year filled with a wealth of financial success!

Setting Goals for the New Year

December 9, 2018 by Jodee Brydges Leave a Comment

The new year stands before us, like a chapter in a book, waiting to be written. We can help write that storyby setting goals. ~ Melody Beattie

It is so hard to believe that we are in the final month of 2018. This month is typically the busiest month of the year filled with shopping, festive parties, family, friends, and loads of memorable moments. Before we know it, the gifts will all be unwrapped, the parties will be over, and we will be welcoming the New Year. The chance that many refer to as “Out with the Old and In with the New” – an opportunity to set goals, make resolutions, and improve specific areas of our lives.

Once the holiday craze is over, there is usually a lovely lull the week before New Year’s Eve. Typically, this week provides a calmer, quieter pace, both at home and at the office. Don’t wait for the calendar to change, use this week to geta jumpstart on setting your New Year goals and resolutions. Here are a few tipsto help get started.

The most popular New Year’s resolutions year over year include, health and fitness (exercising more, losing weight, and eating healthier), getting out of debt, and saving money. Set aside time to sit down, grab a notebook, and write down what you want to accomplish in 2019 and break the goals into categories: Health and fitness, financial, travel, career, and major purchases. Under each category set an annual goal and then break each goal into monthly goals.

For example, if your goal is to pay down debt. Grab your statements, tally your total debt, and determine the pay down amount. If your goal is to pay down $5,000,write $5,000 for the annual goal and $417 for the monthly goal. The same goes for building a savings account or saving for a major purchase. If your goal is to save $12,000, write the annual goal of $12,000 and the monthly goal of $1,000. If your goal is to lose weight, travel, or change careers, set a goal of when you want to achieve it and break it down to monthly steps. Breaking the goal into bite size chunks allows you to focus on smaller, more achievable steps to reach the overall goal.

Next, create a vision board with charts to track and monitor your monthly and annual progress; include photos of items you want to save for, purchase, or reward yourself with when you meet specific milestones. Vision boards should include short-term and long-term goals and dreams. There are loads of tips and ideas for creating a vision board on Pinterest and there are Apps available for creating vision boards on your mobile device.

Once January arrives, be sure to review your written plan and vision board weekly, update your progress, and adjust as needed. Having a written and visual plan and reviewing your progress weekly will provide the focus and momentum needed to more easily accomplish every goal you set in 2019.

Wishing you a joyous holiday season and a New Year filled with accomplishments both bigand small!

For more tips on setting andachieving financial goals in 2019, be sure to check out my new book Digging Out, available at jodeebrydges.com. It has everything you need to get your financial house in order and make 2019 your best financial year yet.

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Entertaining on a Budget

November 10, 2018 by Jodee Brydges Leave a Comment

There is a reason this season is called “The Most Wonderful Time of the Year”—it is a joyous time to gather with family and friends. Everyone loves to open their home to entertain when it is beautifully decorated. Calendars are booked with holiday parties, cookie exchanges, and multiple course sit-down dinners from Thanksgiving until New Year’s Eve.

Whether you are hosting or attending these fabulous events, the cost of food, beverages, and hostess gifts all add up and can take the jingle out of your bells. However, a little planning in advance can help you maintain your holly jolly spirit and keep your budget in check.
Regardless of the type of holiday event you are hosting (holiday dinner, cookie exchange, cocktail party, or white elephant party), use the following steps:

MAKE A LIST: Make a list of all the people you want to invite to your event. Knowing the total count will help you set an accurate budget and determine the theme of your party based on the number of guests.

SET A BUDGET: Take the time to determine and write down the total amount you can afford to spend on the event you are hosting. Then, break down the amount into categories (food, beverages, dessert, decorations, gifts) and note the anticipated amount for each. Research the cost of each category and make certain that your estimated amounts will allow you to purchase enough for all of your guests and that each amount is within your budget. If your numbers are off, review by doing the following.

SCALE BACK: If the cost of any one category is too high, trim back by either adjusting the number of guests you are inviting or changing the theme or menu. For example, if you are hosting a sit-down dinner holiday party, either change to an appetizer party, or reduce the number of main dishes and choose to have more appetizers. More times than not, guests prefer appetizers over several main dishes as they are juggling several holiday events (sometimes, more than one on the same date) and prefer to nibble, mingle, and not overeat.

ALLOW GUESTS TO CONTIBUTE: If the thought of cutting out guests makes you feel like the Grinch, allow guests to contribute and bring items. Guests always offer to “bring something” and allowing guests to do so, makes the occasion far less stressful and helps reduce entertaining expenses. Additionally, you are able to spend more time enjoying your guests versus being in the kitchen.

CREATE A THEME: Get creative and make the evening fun! There are loads of fun ideas on the internet from Flannel & Frost to Mistletoe & Margaritas! Find a theme and have guests sign up to bring a festive libation, a scrumptious appetizer, or a decadent dessert that compliments your theme. Guests love to showcase their holiday favorite(s) and creative dishes make for fun conversations!

DECORATIONS: Keep it simple. You don’t have to spend a fortune on decorations to make your home festive. During Thanksgiving, take a walk outside, gather beautiful leaves, and use them to decorate your table. For the holidays, find pine cones, spray paint each, and use to dress-up your table. Simple sprays of mistletoe, holly or tree branches with berries also provide lovely splashes of festive decor.

GIFTS: Attending a party during the holiday season includes a gift for the hostess and these little goodies add up. Give the gift of homemade treats to each hostess versus scrambling to find the perfect little treasure. You can either bake a treat, make a holiday jelly or jam, or grab a Mason Jar and layer it with the ingredients of your favorite holiday cookie mix. Dress up each gift by attaching a cute thank you note, recipe, and a festive ribbon and you have a unique and thoughtful gift! You can make several of these special treats for the cost of one hostess gift. Homemade gifts not only save you money, but the hostess appreciates the thought and care that went into making the gift.
Taking the time to plan in advance, setting and sticking to your budget, being creative with holiday entertaining, and decorating and gift giving will allow you to deck the halls with financially-sensible style!

For these and many more financial tips and money saving strategies, check out my new book Digging Out available for pre-order at jodeebrydges.com. Give the gift of Financial Literacy this holiday season to family, friends, and college students! Follow me on Facebook, Instagram, and LinkedIn for launch dates, worksheets, and more!