Tonya Coaches

Did you sign up for credit monitoring when Equifax had the security breach? If so, check your email. You should have a code to sign up now. Make sure you verify the sender (see second picture) and you do not need to enter any payment information.

I love repurposing and changing up the look of our rooms without spending money. This weekend, I changed up our large sectional to create two seating areas. This will better serve our guests when we entertain and we get to feel like we got new furniture! Win win!

The secret to reaching goals is set clear goals, auditing what you do and adjusting until you reach your goals. This was a nice reminder to me today and I wanted to share it with you too.

Shell Heart for the win!

I was mountain biking yesterday when I took a fall and sprained my ankle. I’m so thankful for my girlfriends and two other MTBers (Patrick & Croy or Troy...hoping they see this!) that helped me get out of the trails on one foot. The park service for getting me to my vehicle and the urgent care for taking care of me and doing x-rays.

When accidents happen, it is easy to jump into seeing all that is wrong but I’m thankful that I’m choosing to see all the interactions for which I’m grateful!

Did you get your stimulus check? Not sure what to do with it? Here is how I recommend using it:

1. Fund your emergency fund, you need at least 1 month of rent/mortgage with the goal to have 3 months in savings eventually.

2. Pay any past due secured payments (This is your house, electricity, car) something that you can lose if you don’t make payments timely.

3. Pay down any high interest debt. You get to decide what is “high”.

4. Fund your 3 months of living expenses emergency fund.

5. Invest! I tend to be more on the conservative side so I stick with S&P 500 index funds or EFTs with a low expense ratio (0.05% or less).

What are you doing with your stimulus check? Comment below!

I did a quick calculation using an online calculator for one of my members that I wanted to share. She is contemplating putting $2,000 in her ROTH IRA. She is 29. If she retires at 67, she will have $41,000 available to withdrawal tax free. That assumes she only deposits $2,000 today and invests in a low cost S&P 500 index fund.

How amazing is it that she could get $40k from a single $2,000 investment. Time is on her side and on your side too!

One thing to consider when paying of debt, is also contributing to your retirement funds. Do you have a 401(k), 403(b), IRA or ROTH IRA? If your employer matches your contribution make sure you contribute and get the match. It is free money!

Even if you don’t get a match, consider contributing to your own IRA account. You are limited on your annual contribution and you cannot catch up until you are 50! I recommend figuring out how to contribute AND pay down your debt, too. It might delay your debt pay down BUT given the compounding nature of investments, it pays you back in the long run!

I’m a CPA with over 20 years of experience. Ask me any of your personal finance questions and I’ll share my thoughts.

As I get further along in life, I find it is easy to get distracted and forget to connect with those I love. Today, we spent the day together as a family. Our kids asked to take pictures of us as we waited for dinner. I always feel blessed that I’ve been given the chance to be an example for our kids. I make lots of mistakes but at the end of the day photos like this remind me that what is important is that I keep trying!

Our financial journey started with lots of student loans, credit card debt and two mortgages...you know what those were all stepping stones to get to the future we are creating. I don’t regret any of it but I have learned along the way. I created this venture to share our journey and help others realize there is no “right” way. We each create our path and pivot as needed. I’m here as a resource for you.

Enjoy your weekend!

Are you ready? This month we are doing a credit card challenge to know our facts! I'll be sharing videos through out the month to talk through why each step helps. This is the first step to improving your credit, feeling confident with your finances, and paying off your credit cards. As an added bonus, on April 3, we will pick one random winner to receive $50 via Venmo.

Are you asking, what is the catch? All you have to do to enter is email helpme @ tonyacoaches.com, request to enter by March 31, 2021 and confirm you have completed all 5 activities for the month. For an extra entry, share the image on Instagram and tag me.

Sometimes I forget I’m 5’2”(see my trying to jump on the bull🤣)...but I’m thankful I’ve made friends who will run 11.2 miles in the rain on a Saturday morning with me and still stop for a fun photo op!

If 3 years ago, you would have said I’d be doing this, I would have laughed. Run?! Yeah if I’m being chased! But then just like my financial journey, my running journey happened over time.

In 2007, I had $16,000 in credit card debt and was feeling overwhelmed. I knew if I didn’t take action it would never change. The action I took was to first know my facts, how much debt, interest rate on each balance, date payment was due. Then I did three things:

1. I looked for balance transfer offers at lower rates and transferred what I could.

2. I made a schedule of my core living expenses and then calculated how much I could put towards the credit card monthly.

3. I made my payments and reassessed the balances monthly.

I was able to pay off my $16,000 of debt in less than a year.

My running was similar, I started with one 5K a year, I used the app and started running using walk and run.

Now I run at least 3x per week and usually a minimum of a 5K. That first year when I only ran one 5k each month and didn’t train in between well that is what worked for me.

What I learned is meet yourself where you are, start with something and HAVE FUN!!!