How Not To Worry About Money (Tips For Financial Stress Motivation)

How Not To Worry About Money (Tips For Financial Stress Motivation)

Do you worry about money?  Be honest with yourself.

Have you have had an anxiety attack over a forgotten bill or maybe an unexpected expense?  Perhaps your income was considerably lower than you budgeted for and that sent you into a panic.

It happens.

The best thing you can do is learn how to control your emotions about money so that you stress less and find the motivation you need to reach your goals.

I’m sharing my top three tips on how not to worry about money so that you can reach financial peace.  You can watch the video online or down below:

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Remember, there are three main steps to help you reduce your financial stress:

Plan For The What-Ifs.

Make sure you’re prepared for the unexpected.  That’s when having an emergency fund is the best tool in your toolbox.  It can help you bounce back from an unexpected expense so much faster.  You won’t have to adjust your normal monthly spending, you won’t have to buy less groceries and you won’t have to do less just because your car needs to be repaired.

This is also a great time to plan out your sinking funds.  Having a sinking fund to help plan for those once-a-year bills (like property taxes) is great, but you can easily adapt your sinking funds to help create a maintenance budget for your family.  That way when your 10+ year old washing machine finally goes to appliance heaven you have a home repair sinking fund with enough to cover that new washer.

Have An Open Dialogue.

It is so important for you and your spouse to be on the same page about money.  Now it may not always be easy, but it can be a huge relief to have someone to talk to.  When you start to feel the stress of money pile on, have a conversation with your partner.  You can probably vent your emotions, they can listen and be the logically sounding board you actually need.

Be Forgiving.

This might be the hardest step of all, but it’s the most important.  Mistakes will happen.  We’re only human.  We’re going to spend too much, buy something that doesn’t work out, and we won’t make as much as we planned.  It happens.  It’s how you treat yourself in the process that’s key.  Learn to be forgiving – to yourself and to your partner.

How Not To Worry About Money (Tips For Financial Stress Motivation)

Find Out More:

Learn my fool-proof tips for getting on the same page about money with your spouse.

Learn how to become debt free while still living life.

Check out my tips for building your emergency fund fast.

Follow these steps to save $1,000 fast and easy.

Ready for more?

Grab the Sinking Funds Checklist to help you create a plan to save more money in less time.  Sinking funds are a great way to break down those big expenses that comes just a few times a year into more manageable monthly goals.  The best part about sinking funds?  You can easily transform them into a savings tool to help you get ready for your next family vacation.

How To Pay Off Debt and Still Have Fun

how to pay down debt and still have fun (1)

Let’s talk about the dreaded “D” word today – DEBT.

There is this huge misconception about getting out of debt and having to live this rigid life where you never get to do anything fun UNTIL your debt is paid off.

That’s just simply not true.

You can still have fun, still live life and still be spontaneous even when you’re determined to get out of debt.

In today’s video, I’m sharing my tips for paying off debt while still having fun.  These tips are super simple to follow and will help you keep motivation.  You can watch online or down below:

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SAVE FIRST

Make sure you have a fully funded emergency fund first and foremost.  This emergency fund is a life saver when the unexpected happens, and trust me, it will happen.  So make sure you have at least $1,000 in your emergency fund before even thinking about anything else.  Also, make sure you shouldn’t have more than $1,000 in your savings account.  There are times when you might need additional money in your emergency fund – large family, expecting a baby, planning to move, and so on.

GET FOCUSED

Make sure you know what your end goal is. Are you planning on becoming completely debt free – mortgage, cars, student loans, everything?  Are you planning on getting the small stuff out of the way so you can start planning for your future?  Just understand what your end goal should look like.  Make sure to talk it out with your spouse so that you’re on the same page, too.

When you’re trying to become debt free, you should know what amount you need.  This means understanding your current balances, interest rates, minimum payments, and so on.  That way you can continue to focus on the progress you’re making.

how to pay down debt and still have fun (1)

BE CREATIVE

Do your research when it comes to having fun.  I know, I know – research and fun doesn’t always go into the same category.  But hear me out.  You can easily have fun around town, weekend trips and activities for your kiddos with a little bit of creativity.  Find free or reduced entry fee days to parks.  Find the cheap days at the movie theater.  Look for free concerts that your kids would love.  Plan fun date nights while keeping within a budget to force each other to think outside of the box.

When it comes to your social life, invite friends over or arrange for a monthly pot luck with friends.  You can easily rotate whose house you go to, each person preparing a dish to bring and then you can have a fun night in.

PLAN AHEAD

Plan your vacations in advance.  One hiccup most families face is vacations.  Now some experts will say you should have lavish vacations until your debt is paid for.  Or they say you should plan staycations to save money.  Now all of these are good tips, but I have a different mindset.  You see, I believe in making memories now, when your kids are little and when you have the chance because you never know what the future holds.

Now don’t get me wrong you shouldn’t be going into debt just for a vacation, but you can easily plan and save for one.  Pick a location about 2-3 years in advance, do your research and start saving.  You should save for the cost of staying at your destination, travel to and from, food, excursions, activities, and souvenirs – all of it.  That way you can easily pay cash the entire trip and not go into debt.

The biggest takeaway is that you can still have fun while paying off debt.  A budget doesn’t have to restrict you, it gives you freedom to live and to stress less.  Don’t charge your credit cards and spend money you don’t have just to have a good time for a day.  Plan ahead, make smaller sacrifices now so that you can enjoy yourself freely later.

READY FOR MORE?

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Grab the Budget Success Checklist to help you create your dream budget.  This guide will walk you through the steps you need to understand your expenses, track your spending and create a budget that will ACTUALLY work for your family.

What Does Financial Wellness Mean (and How Do You Achieve It)?

What Does Financial Wellness Mean (and How Do You Achieve It)_What Does Financial Wellness Mean (and How Do You Achieve It)_

What exactly does financial wellness mean to you?

It can vary from person to person, family to family.  your version of financial wellness could be a complete 180 from your best friend, your neighbor and even your sibling.

The idea of being financial well simply means have less stress when it comes to finances.  Having more confident in your spending and savings. Being self-sufficient to pay your expenses, meet your goals and so on.

How can you gauge your financial wellness?

Determine your debt-to-income ratio.

This ratio tells you how you’re doing overall with the amount of debt you have.  Your debt number is the total amount of debt you have – mortgage, credit cards, car loans, store cards, personal loans, student loans, medical bills, etc. Divide your total amount of debt by your total amount of income.  What’s your number?

Is it high?  Is it pretty low?

The lower your ratio, the more income you have in comparison to your total amount of debt.  You should be striving to lower your debt-to-income ratio number.  You can accomplish this in two ways: lower your total amount of debt or increase your income.  It’s safe to say the easiest and quickest way to consistently lower this ratio is by continuing to pay down your debt.

Put numbers to your goals.

Do you have a big financial goal in your mind?  What is it?  Say it out loud or to yourself right now.  Are you trying to save for a home, a new car, a vacation?  Whatever your financial goal is you need to put a number to it.  How much are you trying to save?  What amount do you need to become debt free?

By putting an actual number to your financial goal then you will be able to track your progress, which will help you keep your motivation.

Enough income to meet living needs.

Another financial wellness gauge is by seeing if you have enough income to meet your current living needs.  Do you make enough to pay your monthly bills, your debt payments and still have a little left over?  If you are making enough to pay all of your bills, still have a little fun and put aside money into savings then that’s a good sign.

Fully funded emergency fund.

Is your emergency fund actually funded?  This is crucial to help lessen any financial stress you may be feeling.  You never know when something unexpected is going to happen so having an emergency fund can really pay. There are times you might need to have more than the recommended $1,000 in your fund, so be sure to do your homework.  

What Does Financial Wellness Mean (and How Do You Achieve It)_What Does Financial Wellness Mean (and How Do You Achieve It)_

So, you’ve gone through each of these gauges.  You’re feeling pretty good about each one, so how do you know when you’ve reach financial wellness?

It’s a feeling.  You will feel accomplished, less stressed, self-sufficient and more confident.  You will start to notice you have more money in your account from month-to-month.  You’re getting into a routine with paying bills and not letting anything slip through the cracks.  Your savings account balances are increasing and you’re finding ways to prepare for your future.

Those feelings are pretty great, right?  Doesn’t everyone want to feel more money confident and less financial stressed?  There are ways to get there – to achieve financial wellness: 

By creating and updating your budget on a regular basis you are giving yourself more freedom with your money.  You need to be the one telling your money what to do to help you, not letting your poor choices dictate and control you.

If you don’t have a budget or think your could do better, then grab my Budget Success Checklist.  This 9 step guide can help you create a flexible budget to fit your family.  It will help you go through your spending and your income to make sure everything gets a spot in your budget.

Understand your spending.

Do you know where your money goes?  Most know where the big hunks go, but not the smaller transactions.  The $5.00 here, the $10.00 there.  You should be tracking your spending so you know where your money is going. There are a few ways to easily track your spending – check register, cash method, envelope method.  The idea of tacking is to help you become more aware.  When you have awareness then you can make better choices.

Set goals and review them.

As we mentioned above with putting numbers and amounts to your goals, you need to actually take the time to set them.  Setting goals is a great way to test your progress. How close are you? How far away are you?  What was your time frame to reach your goals? Are you going to make it?

Ready for more?

grab budget success checklist

Are you ready to create a better budget to help you along your financial wellness journey?  Grab our Budget Success Checklist to get started.  This nine-step guide is perfect for learning more about your current spending and expenses so that you can create a flexible budget to fit your family.

Focus On A Holistic Financial Path (See The Big Picture To Reach Your Goals)

Focus On A Holistic Financial Path (See The Big Picture To Reach Your Goals)

You have probably heard the term holistic regarding lots of different aspects of your life – holistic medicine, holistic care, holistic financial planning, and so on.  But what exactly does holistic mean?

Holistic: a means characterized by comprehension of the parts of something as intimately interconnected and explicable only by reference to the whole. source

That’s a mouthful.  Simply put, holistic means looking at every moving piece to create a plan that fits you best. That’s why holistic applies so well to the medical world and also the financial planning world.  You would hope your doctor looks at your entire medical history, your desires, and your symptoms to create a plan to help you get better, reach your nutrition goals, etc.

The same idea can be applied to financial planning.  You want a planner that will look at the big picture and all the small pieces that it makes up.  Your retirement planning, your budget, your insurance policies, your goals, your debt, and so on.  However, not everyone works with a financial planner so you need to learn how to create a holistic financial plan on your own or how to really understand what your financial planner is doing for you.

holistic financial plan

Let’s Get Holistic

It’s time to look at all aspects of your financial situation to make sure they are working in sync with one another.  It’s important to make sure all aspects are working together and not against one another.  You don’t want to work for years to build and build just to have it all disappear with one incident, right?  So let’s roll up our sleeves and get to work.

Your Budget – Do you have a budget in place?  If so, when was the last time you analyzed your expenses to make sure they were still accurate and needed?  If it’s been longer than 3 months then pull your budget back out and review it again.  You can easily create a budget in less than 15 minutes with this simple guide, but you need to review it often.  Without discipline it’s easy to find yourself slipping away from your spending goals and not saving as much as you had hoped.

Your Insurance – You really should be completing an insurance audit on a regular basis.  Make sure the amount of insurance really fits your needs and your budget.  This includes auto, home owners, disability, life, and health.  Sit down with your insurance agent or financial planner to make sure you have enough coverage.  One of the biggest issues I see is when a client has an umbrella policy for extra protection, but has a gap in coverage between the base policy and their umbrella policy.  That gap means the client will be on the hook, personally for that difference.  That’s not good.  Just make sure you’re reviewing all your insurance policies to make sure you’re meeting the state minimum requirements and filling any insurance gaps.

Your Retirement Plan – everyone has a retirement plan whether you know it or not.  Even if you feel as if you haven’t started it yet, you still have a plan.  Because one day (the hope) is to retire, right?  So make sure you’re working with a financial planner to get your plan in sync with your goal.  Are you getting the free match from your employer’s 401(k)?  Do you even know what I’m talking about?  If not, then meet with a financial planner.

College Funding – Do you have hopes of sending your children to college without going into debt?  Then a college funding plan is a must.  John Hancock has a great college calculator that is free to use and I highly recommend getting an idea of how much you should be saving to reach your goal of providing college.

Debt Management – You should have a plan to help you get out of debt.  Having a debt management plan can give you clear steps to take to reach your goal.  Do you know which bill are you working on paying off first?  Which debt has the lowest annual interest rate?  Out of your bills, which one has the highest annual interest rate?  If you can’t answer these questions, then it’s time to create a debt management plan.

Goal Setting – I’ve talked a lot about working together with your spouse on goal setting.  Working together is really key to start making progress on your goals.  When you’re not working on the same goal as a team then you’re really doing yourself a disservice.  You also need to make sure your goals fit into your sinking funds, your budget and your debt management plan.

Tax Planning – Are you taking advantage of having a tax expert help you each year?  Not just with preparing your annual tax return, but review your situation before the end of the year.  That way you can take any necessary steps before the tax year ends to create a better situation for yourself.

Estate Planning – Most states have their own version of an estate plan for their residents.  But that plan may not be what you want.  You may want to make sure your family uses your life insurance benefits to provide for your kids’ college costs.  Maybe you want to make sure that your 18 year old son doesn’t inherit a lot of money if something should happen to you and your spouse.  Having a plan in place that tells the court, your family and your beneficiaries how you want your assets handled is the best course of action.  Creating an estate plan means meeting with an attorney to write a Will, Powers of Attorney and maybe a Trust.

When Should You Revise Your Plan?

You should be reviewing your entire financial plan on at least an annual basis, but you may want to do it whenever you have a major life change too.  For instance, having a baby is a good reason to review your budget, insurance, estate planning and other areas.  If you get divorced or married, you may want to review your estate plan, beneficiaries of accounts, and tax situation.

If you don’t have a financial planner, I recommend finding one in your area.  As a CERTIFIED FINANCIAL PLANNER™, I am partial to finding someone who has passed a rigorous exam and met requirements to be called a  CERTIFIED FINANCIAL PLANNER™.  If you need help finding someone, check out this website.

Need More Help Getting Your Budget Set?

grab budget success checklist

Grab our Budget Success Checklist to help you get your perfect budget.  This guide will walk you through the 9-steps to get your dream budget setup and ready to roll.

 

How To Get On The Same Page About Money + Stop Fighting With Your Spouse

How To Get On The Same Page About Money + Stop Fighting With Your Spouse

One of the hardest parts of my job (budget strategist for families) is listening to couples fight about how the other one saves too much and never has any fun OR spends too much and doesn’t plan ahead.

It’s really tough to hear – especially the private conversations I have with a lot of wives who are seemingly afraid of making their husband mad (not because he’s abusive, but because they don’t want to have the same conversation AGAIN when it comes to their budget or lack there of).

Most marriages that end in divorce can trace their strain back to finances.

Let’s face it – no two people are alike, so why are we assuming that a husband and wife will look at finances the exact same way?

We need to stop. Right now. We need to face reality. We need to work together.

In today’s video I’m sharing some great tips on how to talk to your spouse about money so you can FINALLY get on the same page. You can watch the video online or down below:

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Are you ready to get your budget in shape?

grab budget success checklist

Grab out Budget Success Checklist to help you create a workable budget the fits YOU.

DIY Gallery Wall

how to hang a gallery wall

Do you love the look of a perfectly polished gallery wall, but aren’t sure how to pull it off?  Well you’re in luck! Today’s post is all about making your gallery wall look effortless and perfectly paired without nailing wrong hole after hole into your walls.

Measure First

Grab a tape measure and make sure you know how wide and how tall you want your gallery wall to me.  Grab some painters tape to mark the boarders so you can visualize it.

Layout Second

Next take your measuring tape and painters tape to mark off a matching-sized section on the floor.  This will give you a chance to check your spacing and see how each piece will look next to one another.

Snap A Photo

Grab your phone and take a photo of the final layout to refer back to if needed.

Measure Again

This time you need to measure the space between each picture.  That way you know how much room to leave to get your perfect look.

Only Put One Hole

Grab your painters tape and flip over your picture.  Lay your tape on the back of your picture, making sure it’s level.  Then take a pen to mark the spot where the nail needs to be.  Peel off your painters tape and put it on the wall in the spot the picture will go.  Grab a level to make sure it won’t hang crooked and then hammer in your nail.  You can easily peel off the tape around your nail or hook.

There you have it – the perfect DIY gallery wall tips.  When we recently did our family room makeover and our playroom transformation, we opted to change up some of our pictures.  Which meant all new gallery walls that needed to be designed.  Luckily with these tips there wasn’t one singly mistake made and we were able to knock out all three walls in less than 45 minutes.

Posted in DIY

Three Parking Lot Safety Tips For Women

three parking lot safety tips for women

Do you know the three basic tips for parking lot safety?  Most of us don’t even think about a potential attack or the what-if’s when we’re walking to the grocery store or into the mall.

In today’s video, I’m sharing my three personal safety tips ALL women should know.  Make sure you’re equipped and educated to better protect yourself and your little ones.

You can watch today’s sharing the THREE tips you need to know for parking lot safety video online or down below:

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ONE : Park under a light.  It may be daylight when you go inside, but that can quickly vanish.  Making your car more visible means you’re more visible.

TWO : Get your phone out of your hands.  In the video, I share where you should carry your phone when walking through a parking lot (and it’s not inside your purse).

THREE : Carry pepper spray.  Get yourself a can of pepper spray and a breakaway keychain so you can easily have it at your fingertips.

Ready for more?

staging your home for protection

Grab our guide for Staging Your Home For Personal Protection so you can feel confident and safe.

Make Progress Towards Your Financial Goals With One Easy Step

Are you ready to make some real progress towards your financial goals?

If you’re hand is in the air and your quietly shaking your head, “YES!” Then this post is for you!

I get it, friend. Life doesn’t always go to plan. You make goals, you set budgets and then something happens. Things break. Kids get sick. You overspend. It happens. The real key to your financial stress is how you bounce back after overspending.

Once you’ve bounced back. You’ve figured out where you went wrong, now it’s time to hit the ground running. In today’s video I’m sharing the one step you need to start making the progress you’ve been wanting.

You can’t watch today’s video online or down below:

Click to tweet this video.

As you can tell from the video, starting is all about declaring.

You need to declare what your goals are. You need to shout it from the rooftops. You need everyone to know. Because when those around you get it (and some won’t) then you can start making the progress you crave.

You need to have those tough money talks with your spouse to make sure you’re on the same page. Sit down on a monthly basis (heck! weekly basis if you can!) to make sure you both understand where your money is going.

Tell your family and closest friends. More than likely your family and friends want what is best for you. I mean, they sure were honest when you went through the black hair phase (that made you look way too pale, no… just me?) and they sure told you when you were dating what’s-his-name, right? So they get it. They want you to be happy and successful.

The more people you get involved in your financial goals the more people are willing to understand why you can’t go out to eat today or why you just can’t go on that last minute girls’ trip.

My biggest secret to reaching financial goals – put it everywhere. Don’t just tell others, tell yourself – daily. Write it on a post-it and stick it to your mirror. Create a background image for your laptop, your work computer and your cell phone to remind you every single day what you’re striving towards.

Heck! Make it your password to login to your bank so that you CANNOT FORGET.

Need More Help?

sinking funds guide

If you’re ready to create a life you love then grab our Sinking Funds Checklist. This go-to guide will walk you through how to create a system to fit your goals and your budget. No matter what you’re trying to save for – becoming debt free, buying a forever home, saving for your next vacation – a sinking fund can help you reach it.

How To Teach Kids About Money – While Making Them Respect It

How To Teach Kids About Money - While Making Them Respect It

Curious how to raise money savvy little ones in today’s world? Well, in today’s post I’m going to share with you some great tips that you can incorporate to help you teach money skills to your kids. Because if you really think about it – who are they going to learn this stuff from? If it’s not you – then who?

Most schools are no longer teaching basic money management to children, which means if the parent isn’t teaching money skills at home then our kids are having to figure it out for themselves. Just imagine your child never learning the value of a dollar, how to balance their bank account and why in the world a credit card could be so dangerous if they don’t know how to use it. If we don’t take the time to teach our kids simple money management then we’re doing them a disservice.

None of these concepts are going to be new, but if you take a combination of these approaches and apply it to your kids then that’s where the magic happens. The goal is to teach our kids how to control their money so they don’t end up being controlled by it someday. I was raised by an accountant and financial planner, so I learned very early on the value of saving, giving, and spending. I hope that we are able to pass those same money skills on to our son and I know the earlier we start, the better chances he will have to have a strong relationship with money.

SAVE, SPEND, GIVE

Kids should understand the value of saving, spending and giving their hard earned money. By use separate jars or piggy banks for each category children can start to learn what portion of their money goes into each.

The idea behind this concept is so much more than what it seems. By teaching our little ones to save a portion of their allowance each and every week, we have a hope they will continue this skill forward through every job they have. By saving 10% of your income you can easily have a fully funded emergency fund or be further along in your journey to retirement.

Another benefit of this skill is teaching math to your little ones. Almost any young age can easily learn the math needed to figure 10% to savings and 10% to giving with each allowance. Even younger than 5 can learn this skill – you may have to use round numbers or quarters or dollar bills to keep it simple, but it is possible. As your child gets older then they should be able to calculate 10% without the use of a calculator.

So each week your child should be dividing their allowance between three jars – 10% for savings, 10% for giving and 80% for spending.

MAKE THEM USE THEIR OWN MONEY

When you go to the store with any child, you probably hear over and over how badly they want or need some new toy.

“Mommy, I just have to have Spider-Man!”

Instead of saying no and starting a war inside of Walmart. You can simply ask, “Did you bring your money with you? If so, let’s take a minute to see if you have enough.” If they don’t have their money then say, “Let’s take a picture of it so we can remember to look at home to see if you have enough money and if so, we’ll come back.”

By making them use their money then they will gauge whether or not they really need it. Plus, if they don’t have enough then you’ll teaching them an even more valuable lesson – save for what they want.

SAVE FOR WHAT’S IMPORTANT

As an adult you probably learned that money doesn’t grow on trees and just because you want something doesn’t mean it’s going to magically appear. You have to work. You have to save. You have to sacrifice.

By having separate categories – save, spend, give you can also teach your kids the importance of saving for something they want. When they see something they just have to have then you can sit down with them to create a savings goal.

You can use sticker charts to represent how much money they have saved to show their progress. That way when they finally reach their target they will be beaming with pride because they did it on their own. That toy, game, stuffed animal will be so much more valuable because they know that they paid for it.

BE THE BEST EXAMPLE

Let’s be honest, we probably learned most of our money management skills from our parents – either by following their example or by choosing to be in better control of your finances. The best way to teach your kids financial responsibility is by setting a good example.

Don’t be afraid to have tough money talks with them. My parents were never afraid to share bill information with my sister and I. They didn’t do it to scare us or worry us, but they wanted us to understand how we kept our lights on and food in the fridge. It was important for them to be transparent with us and I think that has served us well.

READY FOR MORE?

grab budget success checklist

Do you need a bit more guidance when it comes to your own budget? Grab our Budget Success Checklist to help you. This nine-step guide is the perfect tool to help you learn how better your money management skills.

What Should Your Keychain System Look Like? (Active Self Defense Tips)

What Should Your Keychain System Look Like? (Active Self Defense Tips)

Can you honestly tell me that your keychain is built to protect you?

Probably not, but yet it’s the easiest personal protection tool most women carry.  In today’s video I’m sharing how you can easily create a better keychain system and what tools you should carry to help you feel more confident in those dark parking lots.

Each week I go live over on our Facebook page to share a new personal protection tip with you.  Be sure to like our page to never miss one!

You can watch today’s active self defense tip online or down below:

 

Click to tweet this video.

Remember, having a keychain that can protect you at a moment’s notice is the best tool to have.  We are busy women with families to take care of, careers to manage and a thousand tasks to accomplish.  So let’s make sure we’re not putting ourselves in harm’s way by ignoring a very basic personal protection tool – the keychain.

You can learn more about the products from the video below:

Braided breakaway keychain (or the tassel version)

Metal striking tool (or the one with the rubber grip)

Pouch Pepper Spray (or the protected pepper with a disable pin so it can’t be used against you)

Little Ringer keychain stun gun

Learn more about Damsel in Defense:

Watch my latest Damsel in Defense unboxing

Learn more about why I joined Damsel in Defense

Watch my video on basic stun gun training 101

Want more help to better protect your home?

Grab our Staging Your Home For Personal Protection Guide to help.  This guide is a great resource to help you understand your weak points in your home so that you can feel safer and more secure.  Not only do we go over break-in prevention, but we also cover how to teach your children what to do in case of an emergency.