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More About Me

I didn't always have that smile on my face, I wish I could say that I was just born knowing all the right ways to manage money and practiced them but that was not the case. For years I was over worked, stressed, had a lot of anxiety, and had no hope that I would have a secure future. 

My first marriage ended because of Financial Infidelity and I swore that no one will ever take advantage of me like that again and I will never be in that situation again!

I was raised by an Italian Catholic Family; I hadn't practiced my religion in many years. I turned to God in this moment, through a non-denominational church and as I welcomed God back into my life and reading the Bible I was curious on God's word about money and money management-how should I be viewing this so this never happens to me again?

I did a Google search on "Gods ways of handling money" and up came this guy named Dave Ramsey. I listen to several of his videos and was hooked. I started following his principles and what a difference-not only in my bank account but in my confidence and faith. My, now, husband and I took Financial Peace University together so we have the same mind-set and are working towards the same goal. What a difference having a partner you can trust!

The principles we learned not only bonded us as a couple but together we formed our standards and boundaries and set dreams/goals for ourselves. We have since retired to the Adirondack Mountains and living the life we choose.

FPU was the start of my journey, I then took the Ramsey Financial Coach Master Training to become a Financial Coach and now a Ramsey Preferred Coach. Following the baby steps changed everything for me and serving people so that they can one day feel this freedom and joy we have in our lives now is the best way I could imagine spending my retirement years.

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Respectfully Yours,

Coach Jacine

My Husband's Side of the Story

If you decide to take the steps to a secure financial future and you make the decision to allow Coach Jacine to help you along your journey...this is who you will be getting. Jacine is not only my financial guide, but she is also my wife and best friend, and I trust her explicitly with our financial future. The journey hasn't always been an easy one for us, but she never wavered in her belief that we will always be debt free. The journey began 8 years ago when I, a widower, met Jacine, who had just gone through a very difficult divorce and financially challenging marriage, new flash, it's very important in marriage that both spouses be on the same page. Over the course of the next year or so we fell in love and made the decision to spend the rest of our lives together. All great news at this point except for our financial situation and COVID. Jacine was laid off from work and her position was eliminated at the company and I was approaching retirement age, so some big decisions needed to be made. This is when we knew if we were to have financial freedom and my being able to retire, that we needed to be debt free. So, Jacine set off to take a hard look at our finances and how we could create the life we wanted. First, she started paying down our debt, starting with the small debt first and working our way up to the large debt. Where did she learn such a simple concept and learn to apply it...Dave Ramsey. She signed up and we worked through and completed Dave's Financial Peace Program. Next, she continued her training and education to become a Financial Coach and she can help you attain Financial Freedom IF you are willing to put in the work, sacrifice for a period of time and then come out the other end "Living Like No Other, So You Can Live and Give Like No Other." Lets face it folks we shouldn't have to be stressed over finances every waking hour and we should be willing to make some sacrifices in order to leave a Legacy for our future generations.

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~ Steve

Are you “afraid” of online banking?

 

Have you heard the phrase “your too busy bending over picking up pennies and your letting the dollars fly over your head”? 

I’ve had several conversations recently regarding earnings on savings and how to earn more interest. When I explain about the benefits of online banking there seems to be a sudden fear and understandably so if you are used to your local bank with trusted tellers to do your banking verses a computer, internet and no smiling face there might not be that same level of trust.

 

So how do you know if an online bank is legit? Make sure before you create any account or transfer money that the online bank is FDIC insured. They will have this on their website but you can also check them out on FDIC’s online database, BankFind. This database includes both digital only and traditional brick and mortar banks. Also, don’t click on any links in an advertisement whether its Facebook or a pop up on your computer. If you see an advertisement or want to check out a bank put their name in your browser and go to their website directly.

 

What do online banks offer that my local bank doesn’t? Higher interest rates for one. A high yield savings account online currently at this time of writing is at about a true 3.8%. For example, if you deposit $10,000 your yearly interest rate of return will be about $380 

(10,000 x .038). However a local bank may advertise they offer a 3% rate of return on savings accounts however its actually .003% (10,000 x .003=$30 per year). For an extra $350 a year I would want to learn more about online banking.

 

Other benefits of online banking are the lower fees (if any fees) and the 24/7 convenience.

 

Are there any drawbacks to online banking? Since banking is digital it can take a few days for the transfers to go through - 5 to 7 business days. Its not an issue if you plan for it, always have a buffer in your primary account for unexpected expenses and that can hold you over until that money arrives in your account. Larger expense emergencies rarely need to be paid for  in full up front. 

 

Certificates of Deposit are offered by both local and online banks. Rate of return have been competitive between both. The down side of CD’s is usually that your money is locked up for that period of time you commit to with a penalty for early withdrawal. However, they are trying to change that. Some now if the Fed interest rate goes lower than your CD you can sell it and not get a penalty, actually you can make money in this case. And I also saw one with an over 4% interest rate that was flexible; if you close it out any time after 7 days from opening it you will not get a penalty.

 

As a Ramsey Preferred Coach you know I am going to say to put your 3-6 month emergency fund in a high yield savings account, once debt free max out your 401k, and if there is anything left and you want to invest please contact your financial advisor to discuss your risk tolerance, needs and wants so they can help you build a secure future that you choose.

 

Proverbs 13:11; “Wealth gained hastily will dwindle, but whoever gathers little by little will increase it.”

 

Respectfully Yours,

Coach Jacine 

NY-12, Port Leyden, NY, USA

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