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Financial Conversations with Fitz #36 - Wellness includes Fitness - 10/06/2009

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Wow, a little cool this morning…What is the scoop for the weekend with the full moon?  I saw it for just a moment last night.  No frost???  Degree days in Kanawha are at 2,326.  We are still behind about the same amount—319—as last year at this time.  We only went up 20 degree days since last Monday.   It looks like a wet forecast for most of the week.  The combines were rolling for two days last week.   Fields turn in a hurry.

I called to order my energy audit with Black Hills.  Free for now…

Last week I spoke at a couple Wellness classes at Waldorf College.  People asked me what financials are doing in Wellness class.  Wellness has to do with mind, body, and spirit.   How you are doing financially for sure affects how you feel.   The beginning point is the balance of income and expense.   If your income changes, what can you take out of your expenses immediately?  Whatever you don’t need for necessities like food, housing, and medication.  Budgeting is essential, no matter if you know how to do it on your own or need help from the Iowa State Extension or a credit counselor.  We covered the do’s and don’ts of credit cards.  You can find a full list on    Be careful with your contract, and look out for specials.  The rates and conditions are really hidden.   I, of course, recommend going through your local bank.  Compare fees and interest rates on page 4 of the paperwork.  Start small with an amount.  Try to use it for emergency only.  Check your bill immediately for errors, for posting errors or ID theft.  We talked about the effect of your credit score.  Your credit score can effect more than getting credit.  The big item is your auto insurance.  I have seen people that could get a loan but could not get the insurance to cover the vehicle that they drive.  There were a lot of questions about how credit affects your chance of employment.   I know there is federal legislation about stopping that.  So what is the deal on the “free” credit report?   Be sure you stop in to see your loan officers and personal bankers to be sure you are getting the right one.  We can go through your credit report to explain some of the acronyms.   We can suggest some ways to contact creditors with a request to adjust your payments.  It is important to do this early, before your due date.  Beacon Score can take one out of the home financing world or raise your payments significantly.

There’s lots of excitement in Minneapolis this week!!!  Homecoming in the territory this week…Try to stay warm…

Remember that you should deal with people in community banks and organizations.  When you work with them, you know that you are working with people you will also see at ball games, church, or community events.  So, if in doubt give us a call.