Are you experiencing one or more of the following:
- Unclear goals or trouble getting in touch with what you want in your life?
- Difficulties earning and/or maintaining a good and consistent income?
- Money owing on credit cards, mobile phones or to retail stores?
- Problems paying your bills and/or outstanding debt?
- No earning, spending or savings plan in place?
Working as a group will help us focus on the following:
- Establish realistic and motivating financial and life goals.
- Ascertain a supportive level of income.
- Preparing a cash flow statement.
- Identifying how to reduce and control spending, consumer debt & those "must haves."
- Put in place a consistent savings plan.
- Understand your money habits.
Our supportive environment can initiate and facilitate great changes as we share our ideas and experiences in this community.
2 comments:
For Starters,
Don't Spend Your Raise : And 59 Other Money Rules You Can't Afford to Break
by Dara Duguay (Author) "Open and honest communication is the first rule on the path to financial prosperity..." (more)
Key Phrases: Los Angeles
"Don't Spend Your Raise: And 59 Other Money Rules You Can't Afford to Break," is a financial survival guide for young adults in their 20s and early 30s to help them get started on the right foot.
Consider these facts. The average college student graduates owing almost $20,000 in student loans. In addition, nearly 10 percent of undergraduates owe more than $7,000 in credit card debt. Young Americans aged 15-25 filed bankruptcy at a record rate in 2000, accounting for nearly 7 percent of the nation's personal bankruptcies. Clearly, young people today need help managing their money better.
Don't Spend Your Raise," by one of America's leading advocates for personal finance education, offers young people in college or just starting out in the real world practical, doable "money rules" to help them handle their money more wisely and dramatically increase their personal wealth. It does not contain lengthy, complicated charts and equations for financial analysis and planning.
Instead, it presents 60 clear, uncomplicated, easy-to-follow dictates such as: Never have more than two credit cards, never buy a new car, and don't fly first class for the free cocktails. If followed, this guide will guarantee fewer money mistakes and more money successes.
Just a few of the tips offered in the book include:
Don't rely on relatives for financial aid- this will only ensure that you are not truly independent.
Financial self- reliance is the only way to assure you will be taken care of in the long run.
Write down your money goals- by breaking a goal into manageable pieces and writing them down, it makes achieving that goal more realistic and less overwhelming.
Never buy a new car- the minute you drive a new car off the dealer's lot, you've lost several thousand dollars in value before you've even made your first loan payment.
"Don't Spend Your Raise" also explains why it's best to pay a mortgage bi-weekly, why getting an advanced education is a good investment, why it's important to check your credit report regularly, and most importantly, how to avoid the credit card trap.
Taken from Dara Duguay (Article), she is the executive director of Jump$tart Coalition for Personal Financial Literacy, an advocacy group promoting financial education for young adults. She appears regularly on MSNBC, CNBC, Bloomberg and other TV and radio venues.
Dave Ramsey's Free Budgeting Tools For Your Financial Peace is one of the most important step to changing your financial future.
Quickie Budget
Monthly Cash Flow Planning
Irregular Income Budget
There are three things you need to do to retire early: 1) Manage your expenses and reduce or eliminate debt, 2) accumulate capital, and 3) save and invest wisely. All requires patience and self-control.
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