Welcome to our new subscribers this month! You are now a part of a growing group of people receiving tailored solutions to common budgeting concerns. Feel free to share this newsletter with anyone you wish. Your email address will not be used for any other purposes.
 

Enjoy!
Ericka Young

It’s That Time Again

Every year between October and November companies begin to notify employees about benefit renewal.  During this time you can modify your benefit elections for the upcoming year.  Although medical benefits are one of the main elections that many people are concerned about, don’t forget to take advantage of some other benefits your company may offer.  Dependent care accounts (DCAs) allow families who pay for child care to save before tax dollars up to $5,000 per year for dependent care expenses.  You can access the account for reimbursements with your receipts and/or pertinent documentation for child care, nursery school, or at-home care for dependents.  If you put $5,000 for the year 2007 or $416.67/month into this account it will come out of your paycheck prior to taxes.  Therefore, your taxable income is reduced by $5,000 for the year.  This means that if you are in the 25% tax bracket your tax savings for 2007 will be $1,000.  Not only is it an automatic savings account, but it is advantageous on your tax returns.  Take action today!  Add up your year-to-date child care total and estimate 2 additional months for next year.  Accuracy is important here because any left over funds are not rolled over into the next year’s account. 

The Heart of a Teacher

Throughout life we all need advisors along the way that can help us make sound decisions.  When selecting tax advisors, financial planners, lawyers, insurance and real estate agents, coaches etc. we must be very selective.  It is critical to your success that these people embody the heart of a teacher.  Anyone giving you advice or counsel should be knowledgeable about the subject matter, sensitive to your needs, non-judgmental, wise, and a good listener.  Proverbs 11:14 states, “Where no counsel is, the people fall: but in the multitude of counselors there is safety.”  When you surround yourself with knowledgeable people who have your best interest at heart you are better prepared to make good decisions.  You will feel safe because you are at peace in your decision-making and you know that wise people are only a phone call away.  Many professionals offer a free consultation.  During this session you should be able to walk away with some needed information and a short to do list.  He or she has listened to your needs and provided a brief lesson on the issue at hand.  You should feel encouraged and motivated to take any necessary action.  If the professional you are looking to hire fits this bill then you know you have one with the heart of teacher.  Do you need a financial coach with the heart of a teacher?  Call Ericka now at (480) 200-2516.

Make Your Dream a Reality

It has been a year since I left corporate America to more aggressively pursue my dream of helping people gain control of their finances.  And what an awesome journey it has been!  Although it was difficult to leave a job I enjoyed, my family has benefited from me being more available to them and my clients have benefited from having an unbiased third party willing to help them with money matters.  One of the most important lessons that I’ve learned over the past 12 months is that all of our dreams are connected.  Because I stepped out and dared to do something different more than 25 families are now beginning to achieve their financial dreams and goals.  What an awesome experience to be a part of!  Maybe there is something you have been dreaming about and don’t know how to begin.  Put your thoughts on paper, count the cost, and take small steps everyday to see them come alive.  There are brilliant ideas, inventions, businesses, books, etc to be developed inside you that no one else can create quite like you would.  Your piece of the puzzle is vital to the world or God wouldn’t have given you the passion for it in the first place.  Someone else needs you to make your dream a reality!  Start today!

October 2006

Chris and Ericka Young are now Dave Ramsey Certified Counselors!  Call today to see how their new training can help you achieve your dreams and goals!

From now on anyone who refers a new client to Tailor-Made Budgets will receive a $20 gas card.  So get the word out and enjoy free gas on me!