Grandma’s Jars personal financial coaches do not provide financial advice. Our focus is on helping members take control of their finances through successful budgeting, personal debt elimination, and savings goals.
Due to Phil’s background as a financial adviser, we do have relationships with trusted advisers who share the Grandma’s Jars values and philosophies. So should you require financial advice, please don’t hesitate to ask for a referral.
This is a hard question to answer as everyone is slightly different. We typically find that by about month three, members start seeing a noticeable difference in how they feel about their finances. They can actually see a healthier balance in their bank accounts, they are understanding the system, and the path forward financially is starting to look much clearer.
By month six, most members who have been following their financial coach’s instructions to the letter are starting to rave about the system and the progress they are making.
No, you do not need to be able to meet with our coaches face to face. Thanks to modern technology, we now have members in England, North America, Canada, Czech Republic, Philippines and most states of Australia. As long as you have a reasonable Internet connection, we can contact you via Skype.
We understand that most people get paid either fortnightly or weekly, but believe it or not, budgeting to a fortnightly or monthly pay cycle actually makes things more difficult, not easier.
Here are some reasons why:
The basic principles to this calculation are simple, regardless of whether it is a weekly or fortnightly we are trying to convert into a monthly figure.
Everyone will have a ‘on- off’ expense from time to time. Before you decide how to deal with it, you need to be certain that it is just a ‘one off’. If this ‘one off’ is likely to recur at some point in the future, then it needs to be added into the budget and allocated for. This will ensure that next time it turns up, you are prepared for it.
We often see people calling things like their annual subscription to their antivirus software subscription a ‘one off’’ when we know full well it will recur in a year or two’s time. Simple rule: If it is likely to occur again, it needs to be added as an expense in your budget.
If, however, this is truly a ‘one off’ – for instance a speeding ticket – then you should enter this in the budget as an expense with ‘none’ against the Jar and expense. The funds to cover this will, unfortunately, reduce your surplus funds for that month. If you don’t have a surplus, it will have to come from your rainy day fund.