Security VS Risk

We are all wired with the drive of two opposing needs in our lives: The need for certainty and the desire for risk. Although each of us may feel the drive of one to be stronger than the other, in a marriage there is often one partner who is more of a risk-taker and one whose drive for security is their dominant need. How do we develop a balance where both partners’ needs in the relationship are recognized and fulfilled?

I often meet with couples who live each day in constant turmoil over their inability to come to terms with their opposing needs. For example, while one pursues their dream of being self employed, the other deeply longs for the stability of a consistent paycheck and cash in the bank. This is frequently the primary conflict in a relationship with each person fighting for their core beliefs. Since neither can control the way they are innately wired, this battle often leads to relational destruction.

The human need for certainty is one that can never be ignored. Those who have this as their primary need will have a difficult time experiencing internal peace until this need is met in their finances. Although sometimes this can be challenging, it is often as easy as making a few key decisions that will lead to the fulfillment of such desire.

When advising couples who face this relational battle, I suggest the following to help find common ground:

1. Establish a budget and live within it-This will help provide security that cash will be available to meet the needs of the family, as well as the comfort of knowing that the spending will be controlled.

2. MAKE SURE you have a cash reserve-This is especially true if there is a self employed income earner in the household with unpredictable levels from one month to another. When there is a cash reserve, money is available to balance the lean months and it can be replenished in the higher income earning months.

3. Eliminate all consumer debts and free up the burden of monthly expenses-Eliminating consumer debt frees up cash flow. The extra cash flow can increase savings and thereby increase financial security.

4. Always accommodate the needs of the more conservative partner-The needs of a risk-taker as well as a certainty driven person can only be met simultaneously if the financial security is in place for the more conservative partner.

As a part of the services we provide, we advise clients on steps to help fulfill the need for financial security. There are often opportunities to reallocate how the assets and liabilities are held to expedite the process. Otherwise, the solution lies in establishing a plan and a budget that will accomplish the goal over time. For some, the results are fast and easy. For others, it will be a process that will require patience and determination. Call or e-mail me to discuss your individual situation in greater detail, and to see the tools we have available to assist you.

Every 2 seconds someone in the United States needs blood. Every 8 minutes someone here in Utah is in crisis and using blood donated to the American Red Cross. That lifesaving blood can only come from a volunteer blood donor, a person like you who makes the choice to unselfishly give. There is no substitute for your blood donation!

City Creek Mortgage wants to thank everyone who came out last week to help us collect 35 pints of blood. Every pint collected can save up to 3 lives. That means we potentially saved 105 lives in 4 hours. Way to go friends!!!

We have been coordinating 3 blood drives per year for over 11 years now because we are committed to Preserving and Empowering Families. This is just one more way in which we achieve our mission.

Next year we will hold blood drives on:

March 30th
August 3rd
November 2nd

Please consider joining us on these days to help save the lives of our family, friends and neighbors! Email tobi@citycreekmortgage.com with your contact information and we will invite you to our next drive.

Pumpkin Patch Post2

Behaviors repeated over and over become habits. When it comes to personal finance, many of our behaviors have created unhealthy habits that can lead to financial destruction. Whether it is in our own lives or in the lives of people we love and care about (i.e, children, siblings or parents) each of us has witnessed the devastating effects of over-spending, over-leveraging, and living beyond our means.

Prepare your food at home more often. Try to eat-out less often.

The typical family’s largest monthly obligation is their house payment. Today many families have become “House Poor.” This is a situation where the house payment consumes a dangerously high percentage of the household income leaving too little money left to support the family after the house obligation is met. For many other families the amount of consumer debt payments is the culprit for cash flow challenges. Both of these situations tend to cause tremendous anxiety and pain within a family. All too often the results are financial and/or relational destruction.

The first step for people in challenging financial situations is to review the habits that have led up to their current situation. Is there unnecessary spending that has developed into bad habits? Maybe there are small luxuries that can be satisfied in a more cost effective way, or given up entirely. People often discover that eating at home more often, making their own beverages or purchasing less expensive versions of products can save the money needed to live more comfortably.

Once a thorough review of monthly spending has been completed, it is time to review how the debts are structured. Often times, a simple reallocation of debt will reduce the monthly outflow to a more comfortable level. If the budget is still too tight, then it is time to consider items that can be sold or downgraded. This may be a car, boat, or more significantly a home. Given the thousands of homeowners with mortgage payments that will increase as interest rates rise, this will be the best solution for many.

As people go through the process of re-establishing financial habits, it is important to remember that the experience will be emotional. It is difficult to downgrade a lifestyle and/or give up indulgences that have been a part of everyday life. The key is to remember that the joy of feeling financially in control will significantly outweigh the pain of what will be sacrificed.

If you or someone you know is in a situation where the monthly budget has become uncomfortable, perhaps it is time for a no cost, no obligation financial “check-up”. As part of our “Wealth Care” plan my team and I help hundreds of families each year to gain control of their financial habits and re-establish new ones. As part of the process we will evaluate your cash reserves, debt, long-term savings, and equity and make recommendations on ways to improve your situation. If you are comfortable with your budget but you would like to make sure you are getting the best interest rate possible on your mortgage, call 801-501-7950 or e-mail me to see how you can benefit from the unique mortgage experience provided by my team. We look forward to welcoming you into the City Creek Family, your Wealth Care provider for life.

“What Happens in Vegas stays in Vegas”….Is no longer true for me! My decedent indulgence when I visit sin city is the amazing Creme Brulee that I eat for “breakfast” at Treasure Island. There are times when I’ve even thought about jumping on a plane just to experience the thick, rich, creamy goodness with a crackle top. That’s until I found a perfect recipe that completely feeds my addiction. This is my own personal “ancient Chinese secret”, but I will share it with you my beloved friends. Follow the directions precisely and you will call to thank me.

Fantastic Creme Brulee

4 – cups chilled heavy cream

2/3 – cup granulated sugar

Pinch of salt

1 - vanilla bean, split in half lengthwise and seeds scraped out

12 – large egg yolks

8-12 - teaspoons turbinado sugar

1. Adjust oven rack to the lower-middle position and heat the oven to 300 degrees.
2. Combine 2 cups of the cream, the sugar, and salt in a medium sauce pan. Add the vanilla seeds to the pan, submerge the pod in the cream, and bring the mixture to a boil over medium heat, stirring occasionally to ensure the sugar dissolves. Remove the pan from the heat and let steep 15 minutes to infuse the flavors.
3. Meanwhile, place a kitchen towel in the bottom of a large baking dish or roasting pan and arrange eight 4 or 5 ounce ramekins (or shallow fluted dishes) on the towel. Bring a kettle or large sauce pan of water to a boil over high heat.
4. After cream has steeped, stir in remaining 2 cups cream to cool down mixture. Whisk yolks in large bowl until broken up and combined. Whisk about 1 cup cream mixture into yolks until loosened and combined; repeat with another 1 cup cream. Add remaining cream and whisk until evenly colored and thoroughly combined. Strain through fine-mesh strainer into 2-quart measuring cup or pitcher (or clean medium bowl); discard solids in strainer. Pour or ladle mixture into ramekins, dividing it evenly among them.
5. Carefully place baking dish with ramekins on oven rack; pour boiling water into dish, taking care not to splash water into ramekins, until water reaches two-thirds height of ramekins. Bake until centers of custards are just barely set and are no longer sloshy and digital instant-read thermometer inserted in centers registers 170 to 175 degrees, 30 to 35 minutes (25 to 30 minutes for shallow fluted dishes). Begin checking temperature about 5 minutes before recommended time.
6. Transfer ramekins to wire rack; cool to room temperature, about 2 hours. Set ramekins on rimmed baking sheet, cover tightly with plastic wrap, and refrigerate until cold, at least 4 hours or up to 4 days.
7. Uncover ramekins; if condensation has collected on custards, place paper towel on surface to soak up moisture. Sprinkle each with about 1 teaspoon turbinado sugar (1 1/2 teaspoons for shallow fluted dishes); tilt and tap ramekin for even coverage. Ignite torch and caramelize sugar. Refrigerate ramekins, uncovered, to re-chill, 30 to 45 minutes (but no longer); serve. Recipe compliments of Cooks Illustrated

Please let me know how it goes. I love to hear from you!!!!

Tobi Roberts