Highlights go to mark McDougal Greg Miller we're at the half. Halfway juncture folks so if you miss the first half of the show. Make sure you check without it -- did you own it dot com. Podcast to show you can listen to archives shows. And you can also get the highlights sometimes -- low lights we share with you on the web page right Craig before the break we told our listeners that we were going to share with them -- How they could make 2014. That's 2014 that is the year. That is the next year we will be coming into tractor clarification. Steve doesn't thirteen actually 2014 that's right -- sense when we have three years ago. We did exceed the number of fingers and -- the number of the extent of that evidence feed -- and I think we're really very clearly -- -- get down to stay out. And I don't want to take your shoes off. So. We've got got five. Got five New Year's resolutions and we're gonna make them. This the weekend resolutions this weekend's resolutions that you need to to begin working on so -- to a 2014 -- would be great for. Greg Craig you ready you ready I'm ready our number one. Numeral. The number one -- of your five finished resolutions for two dozen fourteen is gonna be. A full personal financial analysis she got your credit your debt your assets basically your personal balance -- you need to know. Where my sitting today how much looking credit wise and data -- period. Welcome monthly cash flow expenditures do I have what kind of assets to a heavenly just two full analysis of saint. Honestly and here's the thing folks. Believe it or not one of them series that people -- themselves more than anything else isn't that Ono had to put on a couple extra pounds. Even though than -- -- New Year's resolution is typically. To lose weight. The second when he usually financial -- the world people like themselves -- most has really taken a hard look at where there really and where they may find themselves in five years ten years fifteen years down the road further. When it's time to retire so now is the time to be honest with yourself start out of the gate. We recommend that you can utilize resources like mint dot com. I'm that's a great one to pay bills track your budget is set her up but you need to make sure you put together an essence your own balance sheet if you don't know what that is. Google it. But were looking for you to put on there. What your and we're gonna at a few things one is Ryan your credit annual credit report dot -- need to do this every at least once year your free credit report. And understand make sure that you know what's on there understood in your score if there's needs for improvement there you know what credit card you have gated. All on there and then I'm also include your ownership of real estate with the real value is with the liquidated value is. All of those things all your assets that you can't and a sell if needed and what -- that the liquidated sale price of those assets would be. Not a close personal effects on policies give it all all -- know your personal net worth you may be surprised that unfortunately some of -- Alicia giving value TV. Jordan ash Jean she bought last year your -- your net worth could potentially be negative. Yeah that's not what we want how. Believe I don't want this we do want this is the should they stay or should be. Craig teller was slightly younger reduced there -- do you -- folks if you're gonna email us your gonna -- and say hey here's my scenario this situation I'm looking at. Should I stay with what I've got should go to something else if you refinance or purchase. Either loved you know literally I generally supervised -- any way basic information some people give us a little different than what we always request usually it's. Loan amount of value of your home I'm gonna stay there -- Patrick Maloney have. They would be what you're industry is what says when Robert over the park emailed hi guys -- recently divorced and going through a number of life changes starting here that Robert. My -- kept our old house and I'm thinking about buying now. I've been applying for jobs in my field all over the country and it's likely I may relocate in the next year or so. I was told by a real church that home prices may jump up so much that it fired by now I could make money if myself. A -- her rent until I have more direction but don't wanna miss out on any opportunities either shared rabbi. Or should I rent it buy is is going in rent is staying imminent deal with day. I do not recommend to you if you're in this kind of a scenario right here where there's so much open -- still. You're not -- certainly grant you don't know if you're going to be -- or not the last thing you wanna do. Is invested a piece -- real estate that you just cannot predict what's gonna happily in the very short run we always tell young life as unit based on today's economic conditions. If you're not gonna plan on staying on for at least about five years. We recommend sitting tight with may be renting a look at its mother living options but if in this case -- gonna wanna stay I think there's too much. Potential. For lost so you guys are right back to the five but financial resolutions. You're gonna have for 2014 number one was awful personal financial analysis and we went over the details of that number two is. But GA it don't fudge it. Short term budget for 2014 we want you to put down we want you to write down your immediate. Budget. What is it for the year are you prepared to stick to it. Give a little detail about what that'll include crank William short term but it's gonna be taken a hard look at how you spend money primarily in how you save money. In the short run so you're taken a look at just over the next year. What is it that I've been spending over the past year. We talked about this sort of few shows ago we said hey if he grabbed a three or four months of the year that are mostly. That the the month that you are indicative of how you spend money -- average those out. Then I would recommend that you take those portion averages this is talk and who were talking. You know gasoline every expense you -- you know what am I really spinning on a monthly basis and what am -- saving on a monthly basis. Comparing that with what you're monthly cash -- your earnings are you going to be able to formulate a budget in years need to stick to the budget that actually works where -- ending up in the positive zone and not the negative zone each month so yeah you do step one it gives you -- of what you've got step two -- you're taking that credit for you run -- taking those monthly bills and everything on there. Adding in those expenses electric bill all that stuff you're adding it in your creating your actual budget. Unfortunately some -- you may look out and go cool. I have more month at the end of the month that I do cash. On the end so you you got to make sure you then adjust your game accordingly number three is the next is the big step. It's create a an actual financial plan. One that. That is. Long term not just the one year budget you gotta make a way to survive but it's gonna take you into the next 101520 years into retirement and we're gonna talk about that we come back from break. -- -- -- -- Already folks. We are facts like -- We're talking about your five financial resolutions for 2014 he'd get started on it now before you need another piece of Turkey hammer pumpkin. -- got that big Christmas dinner opening gifts. Or any other -- your holiday traditions that you may be partaking in depending on what you celebrate this time of year. This is what we want in refocusing on. Now's the time to each pen and paper out your calculator. Note -- whatever it is and sit down with your loved one that you're partnered with or on your own and start doing this stuff recapping what we talk a real briefly. Number one on your list of your five is a full personal financial analysis we'll take a hard look where your credit respect -- -- my scores. Is there any -- that now work on anything there was my debt what are my assets. Take a look at your basic personal balance sheet number two budget don't budget we widget set appeared 2014 budget. How much money might you spend on every category of expense. Each month of this year what am I gonna save. May look at what your earnings are no with the you're going to be a positive zone by the end of the year or negative but if you keep on truck in the way you're going. And then we are talking before the break lecture longterm financial plan. We what you -- with a financial player number one effect our recommendation is within the first thirty to sixty days if he has a fourteen. You should schedule yourself with a trustworthy financial advisor. A CPA. May mean estate -- depending on your particular circumstances but. Some tax planning opportunities for -- it's always a great time to do it because he got on your W -- coming in you can see which may for the year. You look what you pay taxes guitar decent tax planning. Also good time to go ahead and meet their financial planner and go over what your goals are set for those resolutions and help them help you to get those goals met your long term financial -- Mark mentioned before the break this your five year plans your ten year -- even twenty years out this is where where do I wanna be at these milestones and how might going to get there. In its gonna take -- cleaning its kinetic wise counsel. To help you along the way you're not the -- do alone -- as someone who knows how to sidestep and adjust as things are not going as planned depending on which -- economy goes. You -- personal situation knicks center. But when we give you number three on this list this one of is a crucial piece from not just 2014 but beyond obviously. So that by the time he listened to show next year for -- doesn't fit here hey man I'm all over this so. Are what you read that OK we understand your busy during the holiday season spreading joy and love to all of your friends and family. But you know what we're gonna get some homework you're number one and number two you must have done by the end of the year you over achievers we want you knock out all five of these by the -- but number one and number two. You must have done. By the end of the year that's we know we're are welcomed -- that's right we know where you that's to a full analysis what she GAAP. What you need and doing a budget as we already told you about the Christmas budget you need to do. Just just do this homework at the same can't sit down with your spouse or loved one. Do this initial peace spend an hour and a half two hours Macs and PT -- this piece knocked out. -- Buffy to all five album is this we're gonna go through here a few minutes but. -- cannot do not let make has come after you if you don't get the first two knocked out this year and we will that's right we will I'm OK so wide number four. I'm cover you war assets. Are you protected is your family. Are your property and valuables covered do you even know. Life insurance property insurance disability insurance health insurance. Make sure you understand what -- god and what you need Craig can you give our listeners some examples what we mean by this well. To to look at it life insurance in general most people do not carry enough life insurance the leader the dear leader personally underinsured or in many cases. The spouse may be a nonworking spouse or -- part time working spouse is way under insured. If you were a man or woman it relies on your spouse provide for the daily care of your home children etc. And that is part of your long term plan they don't plan to work and contribute financially -- deal they're still contributing financially because those are expenses you have to take on of their role. There's no longer able to be filled buys them -- you and your spouse or both covered. That's one example but having enough life insurance is really crucial property -- is another -- this is an area where people just oftentimes don't really review frequently. Take a hard look at their current. Coverage amounts of they've made some improvements. If they've. -- -- things that would require a writer or some other types of coverage to protect them it's something that needs be reviewed and taken a look at the course disability health insurance those kind of things. You're -- more likely become disabled. And you are cute guy. Over certain period Tommy her life obviously so most people call that disability insurance that could be crucial piece that your. Going without and that it by each in the tiny so we would you take a look at all the options you have for insurance the current coverage you have supremely easy -- you pay. Making sure those expenditures are aligned with the type valued at this coverages. And then make sure that you have enough insurance each of these categories folks you have an opportunity to. Own it that's why we titled show this this is the information you need to take action on so you can -- it these are basics folks in your here. In fact several these in this in number four here. Our can be provided TU and they are willingly provided to you by your employer. Whenever I mean provide I mean the education on them your health insurance your options how to use most cut Costa thankfully explanation of the cafeteria plan -- flexible savings -- Flexible spending account those things can save you real dollars. Hundreds of dollars sometimes thousands of dollars by making sure you utilize them the big thing is understanding what you have. And then determining what you need it and making sure that you have few if any major. It's all right we come back we're gonna -- number five. Action compact. After this should he stay or should you go segment ordered -- here -- five alright folks you know the drill we have out. Pauline Conway Arkansas called and asked I wanna paint my house off. In ten years or less. I before record thirty year loan with 28 years left on it should take its senior loan offer at 338 or just pay extra on the loan and a half now. This is actually a better question than people realize actually I know it's not. He's an average question you know what I think I think must do so of course you're gonna pay up continues surgery would take -- lower rate because that's almost a point lowering you're gonna -- a lot of money. Depends on a few factors that Paul didn't tell us. McCain media determination for sure but the amid a safer now. His stay in keeping consulted by -- I'm -- intimates and three kids create -- talk a little you alcohol. I'm are -- and our it folks like you ought to stay tuned.