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YOUR FINANCIAL GPS

3x3 From A-ZWhen we get in a car and activate the GPS, we assume it knows where we are and will get us where we want to go. Yet from experience, we know we can’t always rely on it to be accurate. In order to make good decisions before going anywhere, we first need to know where we are and where we want to go. The same principle applies when making good financial decisions, we need to break the GPS mentality and start thinking for ourselves instead of staying on financial autopilot.

You may believe that your investment adviser and your accountant use some kind of financial GPS to get you where you want to go. And that is what you are paying them for. Even if they have mapped out a plan, YOU are ultimately the driver of your fiscal vehicle. I have several clients who, in the face of grave consequences, have driven right off a money cliff despite having been informed of its presence. Know where you are, be aware, and know what your destination is. Just as there may be road closures or challenging traffic on the interstate, you need to be flexible and make monetary changes when dealing with “financial roadblocks.” Recalculate your GPS and continue to move forward to achieve important long-term goals.

Have you have become unconscious? Open your eyes, examine new options and work your way out of that dream state. Make conscious choices in your
financial travels and stay aware of your surroundings. Begin today! Approach financial decisions with a proactive, intentional course of action, rather than letting emotional reactions drive your life! You will enjoy the journey so much more and reach your life goals!

~Bob

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Let’s Make Tax Season Easier!

3x3 Easy tax TipsNeed a few financial tips to assist with your money and tax decisions? As a CPA, I get a lot of questions on how best to prepare for paying taxes, and preparing for tax season. Today, I would like to give you a few suggestions for this year and steps to be sure you will be ready next year!

A lot of people wait until the last minute to start adding up receipts. What I suggest is to purchase a money management tool, like Quicken or QuickBooks to track your money and expenses on a weekly or monthly basis, so that you are not playing “catch-up” at the end of the year.

OR: For those of you that don’t like to manage receipts digitally, I recommend purchasing several large manila envelopes and labeling them for the different expenses you will incur over the year. For example, you might have ten big yellow envelopes and one might be labeled automobile expenses, one might be repair and maintenance expenses, and one could be labeled cell phone and communications, etc. Each month you would just throw the receipts for that category into the envelope.

A lot of people make the mistake of filing or presenting their receipts by month: January, February, March, and so on. The government doesn’t care about monthly receipts, only what the sum of each category is – as related to your income and deductible expenses. So filing receipts by category is much more efficient. Another thing you might do is to save all receipts when making a charitable donation. Place these receipts in an envelope as well, to document your tax deductions.

Additionally, if you have several streams of revenue, be sure to save several of your pay stubs, in the event you don’t get a W-2 from that employer. At the least, save the final pay stub of the year to give yourself a “snapshot” for determining your annual salary from that employer or company.

Hopefully you will find these tips helpful. These simple steps will result in you being better organized, while making tax season less stressful and easier to deal with!

You CAN have a healthier relationship with your money!
Bob

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DON’T MAKE A 2016 RESOLUTION

3x3 No Resolutions-Positive ActionsForget those “pie in the sky” resolutions that are too ambitious to keep and are quickly forgotten as the holidays fade into the fullness of today’s activities.

Instead, make a lifestyle change with small daily habits to bring about the change you desire. Focus inward and face your deepest anxieties. What scares you the most when thinking about money? Losing your house? Not having enough money saved to send your children to college? Are you terrified that your old car will break down, and you will be late to work – again? You might lose your job without transportation.

Who knows? You might win the Lottery today & this flash of good luck would take care of everything! Good Luck with that! You have a better chance of flying to Mars before winning today’s big pot of money.

STOP! Write down your fears. Determine what you are most afraid of and prioritize your concerns. You can make small changes in your life to battle the fear. By writing down your concerns and defining what keeps you awake at night, you can now write down a small “to-do” list to conquer financial obstacles. You will find that nebulous, nagging fear that has been keeping your stomach tied up in knots will begin to shrink. Often, our fear of the FEAR can be debilitating, but as we define and face our nightmares, an amazing thing happens. The worry begins to dissipate; you gain confidence, and your emotions become easier to manage. By creating this focused daily mindset, instead of grandiose resolutions, you can achieve small, tiny victories, in a weekly or monthly fashion.

As your confidence builds, you can begin to target other goals in your life. You are creating a life of intention, making conscious choices each day, crafting the life that you dared to dream, day by day. And that my friends, is what I call #ProactiveAbundance!

What a wonderful gift to give to yourself!
Best Wishes & Happy New Year.
~Bob

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2016 MONEYCHALLENGE

3x3 TMN Challenge copyTake the #2016MONEYCHALLENGE with The Money Nerve TODAY!

For the entire month of January, @themoneynerve will be offering a daily tip to challenge YOU to be smarter with your money. Like & follow the #MoneyNerve on Facebook, Twitter Google+ and Instagram.

Check out the daily #2016MONEYCHALLENGE tips. Invite your friends to participate!

It’s easy, fun and you might even create one or two new financial habits to make this year even better!

On Facebook, be sure “like” the daily challenge & tag @themoneynerve in your comment, ADD a photo of your own, or SHARE the post with your friends.
On Twitter, please RETWEET
On Instagram, please like, repost or reply with a photo that inspires you to build better money habits
On Google+ please like & add a comment or photo that demonstrates your 2016 money challenge

I am so excited to share my #2016MoneyChallenge – What a proactive way to jumpstart your new year, and begin your new path to financial success! Start new habits, add cash to your wallet & have a healthy relationship with money

Follow @themoneynerve on Facebook, Twitter, Instagram or Google+ each day in January! Weekly winners will receive a #MoneyNerve prize, including:
· Autographed copy of “The Money Nerve: Navigating the Emotions of Money book.
· Starbucks card
· Money Nerve wristbands
· Complimentary one-hour financial consultation with CPA Bob Wheeler (in person, via    phone or thru Skype)
· Rodney Gee Yoga CD
· A Money Nerve mug

Each Monday, @theMoneyNerve will announce all randomly select weekly winners on Instagram, Twitter, Google+ and Facebook.

For example:
1. Repost or share this image or tag a few friends to join you
2. Check the #2016MONEYCHALLENGE EVERYDAY
3. Use the hashtag #2016MONEYCHALLENGE and tag @themoneynerve in your posts!
4. Encourage others by liking and commenting on people’s posts

Check it out!

Thanks for participating – your wallet will love your positive cash flow!

Bob