As I broach this emotional topic, I want to begin by being clear. I am neither for nor against debt. Debt is amoral, meaning it is not, in and of itself, categorically moral. Debt can be a destructive evil. It has torn people down and has caused heartache, divorce, and all sorts of strife. Debt has also built churches, businesses, and hospitals that have been used for incredible good. Debt is neither right nor wrong categorically. To understand different sorts of debt, we mu

If you’re married, it is time for you to get on the same page! It is one thing to budget and agree upon what you are spending. You guys have probably already done that and though there may have been some disagreement, you figured out a way to craft a budget that you’re both comfortable with. However, marital strife often begins to creep in once you begin building your savings. When couples achieve their New Checking Zero at one month of their expenses, it’s not uncommon for

You may know that this week my new book, Increase: An 8-Step Financial Path to Fuel the Life of Your Dreams, came out. I’ve been sharing many of the principles from my book with you in these articles, and this week I wanted to go back to our New Zero, which is step three of eight as we begin to fill up our financial tank! Once you have worked through all eight steps, you will have a full tank and a solid financial foundation to go after the dreams that are on your heart. But

When I first moved to West Michigan 13 years ago, I knew my in-laws and that was about it. Here’s what I realized: you guys don’t move away! I remember talking with someone at a social event in Middleville and asking them if they were from around here. Their response was, “No. I’m actually from Hastings.” I laughed as I told them I was ACTUALLY not from around here and I was from Virginia. As a true out of towner, I needed to gain street credibility in order to make meaningf

Over the past 82 weeks or so, I have had the privilege of sitting down each Monday morning and writing my Saturday column. I have written about the lessons I have learned over the years that have helped me and my family properly manage our money. In the beginning, I sat down and wrote what was top of mind as I thought about my own personal financial journey. I told stories about Lauren and I and the dumb mistakes we (mostly me) had made as well as the times when we learned a

“Are you a financial advisor?” I get this question all of the time and here’s the simple answer: Yes and No. I don’t get paid to be a financial advisor, so in that sense, NO. But I do help my staff and people in the community get their finances in order and make smart, forward moving decisions when it comes to their personal finances, so in that sense, YES! I have always had a hard time with traditional financial advisors. Don’t get me wrong, I love them and their services a

After you have paid off your consumer debt, meaning all debt outside of your mortgage, cars, and student loans, it’s time to begin investing for retirement. Up to this point, you may have already been contributing 3-5% of your income into your retirement account in order to get your employer's match. If that’s you, fantastic! I actually recommend getting 100% of your employer’s match, even from step one on your Fuel Gauge. Though pausing your 3-5% contribution could speed up

This week’s conversation is going to be a little different because I want to spark something in you that was sparked in me several years ago. We are just coming out of talking about debt. A heavy and somewhat burdensome conversation. I hope that you got a lot of value from what we discussed, but I also want to put life back into perspective really quickly and circle around to a conversation we had in our last session. If you have a balanced budget (step 1), I want to inspire

Think back to the hole and the dirt. Using your credit card makes a big hole with no dirt in sight to fill it back in. Using store credit, taking out a personal loan for Christmas gifts, and taking on any other debt that doesn’t have an asset larger than the debt has ruined our country’s financial prosperity. If I walk through neighborhoods in America, there are countless holes in yards with no dirt in sight. This leads to financial ruin. Any extra money you make just goes to

When college students dig the hole of student loans, where is the dirt? Is the degree they are getting a solid asset that could easily fill in the hole that debt creates? The answer is kind of. Fewer than half of the people who earn a degree work in the field they studied. I have a degree in Bible and another degree in Worship Arts. I started using these degrees, but for the past decade, I have been in the insurance industry. I fit into the category of half the population who

There is no substitute for consistent, hard work. I had a business coach who taught me an incredible principle. She said, “Zach, you need to know when to take the stairs, know when to take the escalator, and know when to take the elevator.” It is very tempting to take the elevator as often as possible, but often, when you are quick to jump on the elevator and get to the next level, you lack the muscle you would have built had you taken the stairs. There are certainly times i

Homes are among the most secure assets to purchase, though, as anyone who lived through 2008 will tell you, they are not bulletproof. When purchasing a home, you have already learned that your goal is to keep your monthly mortgage payment, including taxes and insurance, at or below 25% of your take-home pay. Most people are not there today. However, if you are considering a new purchase, your target is to be as close to this number as possible. If you purchase a home that is

When you look at your gas tank, and it's on empty, what feeling does that elicit? If you’re anything like me, you can’t stop thinking about how many miles you have left until you are going to be on the side of the road. There’s a feeling of anxiety, and if nothing else, it is on my mind every mile I drive. When it comes to our money, too many people are running on empty. The path I am leading you down is one that establishes a full tank! Once you have completed all 8 steps a

Over the past several weeks, we have walked through the first four steps on the Fuel Gauge: spending less than you make, giving 10%, building your New Zero in checking, and getting adequate insurance. If you have been doing that work, you have built something real. A foundation. And now it is time to talk about what it takes to finish the job. Welcome to halftime. The last four steps on the Fuel Gauge require serious cash. Paying off consumer debt, investing 15%, saving five

Last week, we began to outline the sorts of insurance policies you need in order to complete Step 4 of our 8 steps towards financial health. Everyone needs four basic insurance policies: Home, Auto, Health, and Life. Last week, we discussed Homeowners Insurance and today we are going to complete this step by discussing the final three types of policies: Auto, Health and Life. Auto Insurance Just like the homeowner’s policy, there is property and casualty insurance on the aut

Everyone needs four basic insurance policies: Home, Auto, Health, and Life. I am going to give you very broad and brief overviews of these policies, but please know that you should speak to your insurance agent before making any changes in coverage. If you don’t have an insurance agency that you have a good relationship with or you would like a second opinion, my agents at Trumble Agency are always available to talk with you about your coverages and they hold the same standar

We are on an 8 step path as we systematically fill up our financial tanks. Just as there are 8 marks on your fuel gauge for a full tank, there are 8 marks on your financial fuel gauge that indicate if you are financially healthy. Here’s where we have been: Step 1 - Spend Less Than You Make; Step 2 - Give 10%; Step 3 - New Zero in Checking; and today, we are beginning Step 4 - Adequate Insurance. Today, I’m going to discuss the subject you have probably been most excited abo

Last week I asked you to do something counterintuitive: give 10% of your income away first, before anything else. If you took that step, I hope you felt what so many others have felt when they start giving first: something shifts. You stop looking inward and start looking outward, and your whole relationship with money begins to change. This week, we move to Step 3 on the Fuel Gauge, and I want to tell you about a trick I played on myself that changed everything. A few years

Spending less than you make sounds simple, and it is, but it requires finding the one or two leaks in your budget that are quietly draining your account and plugging them. That is Step 1 on the Fuel Gauge. If you have done that work, you are ready for Step 2. I will warn you right now: this one is going to surprise you. Step 2 is to give 10% of your income, creating a tone of gratitude and abundance in all of our finances. I know what you are thinking. You picked up this colu

The foundation of every family's finances comes down to one simple principle: spend less than you make. That's Step 1 on the Fuel Gauge, and if you've been plugging the leaks in your budget with tools like the 24-hour pause, the buddy system, or cash, you're already on your way. Now it's time to make sure that progress sticks, every single month. I'll be honest with you, I don't love budgeting. Some people get nerdy about spreadsheets and fall in love with the whole process.