Compass Catholic

Staying informed about your credit report and your credit score is a great way to monitor financial progress.  A low credit score or errors on your credit report can mean thousands of dollars wasted on paying higher interest rates.  The Compass Catholic blog has more about staying on top of your credit report.

Matt and Jenny Brady were a young couple with successful careers. After participating in a Bible study regarding the link between their financial behavior and their finances, Matt and Jenny made the decision to change their financial habits. By following the Compass Catholic Money Map, they paid their large student loan debt and were better equipped to live their current vocation as parents to three young children. For more information about Compass Catholic Ministries, please visit www.CompassCatholic.org. For the Compass Catholic Map, please visit https://compasscatholic.org/compass-money-map/     Happy by MusicbyAden https://soundcloud.com/musicbyaden Creative Commons — Attribution-ShareAlike 3.0 Unported — CC BY-SA 3.0 Free Download / Stream: https://bit.ly/happy-musicbyaden Music promoted by Audio Library https://youtu.be/IOtFV3u_g5E ––––––––––––––––––––––––––––––

Raising money smart kids starts even before you get pregnant. Talking about all aspects of money when you are engaged includes discussions about how well you were trained by your parents to be fiscally responsible. What did your parents teach you that was valuable to you as an adult? What do you wish they had taught you? These questions lead to deep discussions between you and your future spouse on how you want to teach your children about handling money. The Compass Catholic blog has more about raising money smart kids.

Scott Williams is the co-founder of Sock Religious (www.sockreligious.com), a company that sells fun socks that celebrate the lives of the saints. In this week's episode of Money Stories, Scott talks about how Sock Religious is growing while maintaining its Catholic identity, and while navigating the current economic environment.  For more information about Compass Catholic Ministries, please visit www.CompassCatholic.org.   Happy by MusicbyAden https://soundcloud.com/musicbyaden Creative Commons — Attribution-ShareAlike 3.0 Unported — CC BY-SA 3.0 Free Download / Stream: https://bit.ly/happy-musicbyaden Music promoted by Audio Library https://youtu.be/IOtFV3u_g5E  

Financial challenges due to debt can be a hidden monster in many families and marriages. We can tackle and tame the debt monster by learning that every area of our life, including how we handle money, has a spiritual impact. The Compass Catholic blog has more about the spiritual cost of debt.

The Compass Catholic Money Coach Training Program just launched this week. In this episode of Money Stories, Caitlyn Kano talks about her personal money story and how the new Money Coach Training Program came to be. If you are interested in the Money Coach Training Program, please visit www.CompassCatholic.org.      Happy by MusicbyAden https://soundcloud.com/musicbyaden Creative Commons — Attribution-ShareAlike 3.0 Unported — CC BY-SA 3.0 Free Download / Stream: https://bit.ly/happy-musicbyaden Music promoted by Audio Library https://youtu.be/IOtFV3u_g5E ––––––––––––––––––––––––––––––

Finally, we are beginning to recover from all the shutdowns that began in February and got worse in March and April and people are going back to work.  When you get back to your job, it’s also the time to get back to your new financial normal. Create a budget, and use that to create a crisis budget.  Build up your emergency fund and start digging out of any debt you incurred.  It will be a long hard road, but starting now will put you in a better position if there is another emergency around the corner. The Compass Blog has more on how to get back to some sense of financial normal.

Lauren and her husband have been blessed with five children including triplet boys. With five children under four years of age, Lauren learned many lessons about prioritizing and the logistics involved with having a large family. She shares those lessons and explains how she and her husband decided to make a career change to benefit their large family. For more information about Compass Catholic, please visit www.CompassCatholic.org.

Planning retirement while there is a recession can be tricky.  Start by looking at your current monthly expenses. Exclude expenses related to work and include new expenses related to retirement.  Subtract the monthly expenses from your monthly retirement income. If your expenses are more than your income, how much do you need to withdraw from savings each month and how long will your savings last? Doing these calculations before you retire will either bring you peace of mind or the realization that retirement needs to be delayed. The Compass Blog has more on details to consider if you are retiring during a down market.

Allison Gingras shares the story about her financial journey. Allison realized the extent of her debt when the bank refused to extend her any more credit. Around the same time, she met the co-founders of Compass Catholic Ministries, Jon and Evelyn Bean. They presented her with the opportunity to participate in a Compass Catholic Bible study, which she now credits for her much of her family's financial wellness. It hasn't always been easy but now Allison can use her family's financial journey to glorify God.  Learn more at the Compass Catholic website.

How has your life changed for the better since the pandemic? Have you looked for the good in the stay at home orders and the chance to stop the crazy busyness that pervaded our pre-pandemic normal? While this situation wasn’t something anyone wanted, there is always some sort of good that comes out of any situation.  Maybe now is the time to think about the good and say a little prayer of thanksgiving for whatever bright spots you can find. The Compass Blog has more on some of the positives that will come from our new normal.

Diana is a teacher in south Florida. She was taught her money management skills by her parents. As an adult, Diana participated in a Faith & Money Matters Bible study which unified her money management skills with her Catholic faith. Now Diana "pays it forward" by utilizing a classroom management program called "My Classroom Economy."  Learn more about Compass Catholic.

If you are like most people, your important information is scattered all over the place. It may be in a file drawer, on your desk, in your computer or on your phone.  What would happen if you were incapacitated and your family or caretakers needed to handle your affairs? Would they know where the important information in located and how to use it? Join us to hear what you need to get organized. The Compass Blog has more on creating, updating, and organizing all that information so your family knows where it is and can use it if needed.

You may have heard of the FIRE Movement either on social media or in the news. FIRE stands for Financial Independence, Retire Early. Brent and Amy Jones are a young couple with young children. In this episode of Money Stories, Brent and Amy talk about their pursuit of financial independence and how they balance their family's needs, generosity, and their financial goals. Visit CompassCatholic.org for more information about Compass Catholic and our many offerings. Music Credit:Happy by MusicbyAden https://soundcloud.com/musicbyaden Creative Commons — Attribution-ShareAlike 3.0 Unported — CC BY-SA 3.0 Free Download / Stream: https://bit.ly/happy-musicbyaden Music promoted by Audio Library https://youtu.be/IOtFV3u_g5E  

Watching the stock market going up and down can cause stress, tension and anxiety.  Yet there is nothing we can do about it.  And you haven’t really lost any money until you pull the money out of the market. Until then, it’s just a number on paper. Instead of stressing over what you can’t control, try meditating on 1 Timothy 6:7-8, “For we brought nothing into the world, just as we shall not be able to take anything out of it. If we have food and clothing, we shall be content with that.” The Compass Blog has more on putting the stock market gyrations into perspective.

A sequel to last week's episode, Jaclyn and John Kennedy are back to discuss their desire to find a money/life balance that works for their family. Jaclyn has been able to modify her work schedule to be able to spend more time with their young children. Like most decisions, this one had financial implications they've had to navigate together. 

Are you stressing to the max due to job layoffs, the potential for job loss, empty grocery shelves, being stuck in the house, worrying about the health of your family and financial insecurity? Maybe some of these things are simply out of your control. But one of the ways to feel better is to actively control those things that you are able to control. Read the Compass Blog for more ideas about staying sane during these crazy times.

When John Kennedy decided to leave the firm he was with and start his own business, he knew that decision would impact his family, financially and otherwise. In this episode of Money Stories, John and Jaclyn Kennedy share how they navigated this decision as a family and lessons learned along the way.

It is easy to get into a spending rut and not pay attention to where the money is going. But those assumptive spending habits can be wasting your hard earned cash. Look at both the big things and the small things you buy on a regular basis in order to challenge each and every expense to see what can be eliminated. The Compass Catholic blog has more on which expenses to challenge. Your bank account will thank you!

Danielle Bean is a wife, mom of eight, author, speaker, and host of Girlfriends podcast. In this episode of Money Stories, Danielle shares how she and her husband financially navigate having a large family while teaching their children about stewardship. CompassCatholic.org Music Credit: Happy by MusicbyAden https://soundcloud.com/musicbyaden Creative Commons — Attribution-ShareAlike 3.0 Unported — CC BY-SA 3.0 Free Download / Stream: https://bit.ly/happy-musicbyaden Music promoted by Audio Library https://youtu.be/IOtFV3u_g5E