Welcome! Let's Talk How To Win with Money
Rule #1 Keep Your Eyes On You Own Paper (Mind Your Own Money)
Rule #2 Expect Problems & Have Them For Breakfast (Prepare for Emergencies)
Rule #3 Every Dollar Must Have A Job (Budgets Suck, But So's Being Broke)
Rule #4 Spend Less Than You Earn (Debt Could Be The Death of You)
Rule #5 Use Credit Wisely (Credit - Getting It & Maintaining It)
Rule #6 Let Your Money Work for You or You'll Always Be Working For Money (Investing)
Closing - Keep Learning and Keep Earning
YOUR ACTION PLAN: The 5 Things You Need To Know About Your Money (8:00 mins)
Action Prompts: Follow the prompts below to take action and start winning the money game:
- Assets: How much do you have?
- Calculate how much you have, your take-home pay after taxes, and the value of anything you could sell if you needed the money.
- Debts & Liabilities: How much do you owe?
- Calculate who and how much debt you have (i.e., student loans, credit card debt, overdue bills)
- Living expenses: How much do you need?
- Break down the cost of your basic monthly expenses.
- Add them to calculate your monthly living expenses.
- Break down the minimum cost of survival, that’s your Egg and Cereal Budget
- How much do you save vs. spend?
- Review the last 1-3 months of your banking history.
- Calculate how much you make (after-tax take home pay) each month.
- Calculate how much you spend each month.
- Calculate how much you save each month.
- Set savings goals.
- Write down 1-3 things you wish you’d spent less on.
- Write down 1-3 things you wish you’d spent more on.