Summertime Slimdown -finance edition-

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Summertime Slimdown -finance edition- by Mind Map: Summertime Slimdown -finance edition-

1. MINDSET

1.1. Open?

1.1.1. How you view

1.1.1.1. Just after some 'tools'?

1.2. Slimdown

1.2.1. Simplify

1.2.1.1. Resources

1.2.1.1.1. Our world

1.3. Mindsets about Finance

1.3.1. Scarcity

1.3.1.1. There is not enough

1.3.1.1.1. Bottom up approach. "I have X amount. How can I live the life I want on X"?

1.3.2. Adundance

1.3.2.1. There is more than enough

1.3.2.1.1. Top Down Approach. "I want to live a life of X. How can I earn what I need for X"?

1.3.3. Window into your world

1.3.3.1. Growing in BIG Life

1.3.3.1.1. No lottery tickets or handouts

1.4. "Stuff"

1.4.1. Anxiety/Worry?

1.4.1.1. Stuff owns you

1.4.1.1.1. Debt - BIG Life Killer

1.4.2. Peace/Confidence?

1.4.2.1. You own your stuff

1.4.2.1.1. 'Margin'

1.4.3. Live where want - do what want

1.4.3.1. OK, but...

1.4.3.1.1. you're not a tree

2. SPENDING PLAN

2.1. Surest path to financial ruin

2.1.1. Ok...one quicker way

2.2. 70

2.2.1. Live off of 70% of what you make

2.2.1.1. yes it can be done

2.2.1.1.1. here is where you cut

2.3. 10

2.3.1. Give away 10% of what you earn

2.3.1.1. More than enough

2.4. 10

2.4.1. Save 10%

2.4.1.1. Start putting money to work for you instead of you working for money.

2.4.1.1.1. building assets

2.5. 10

2.5.1. Cut - Put 10% towards you debt

2.5.1.1. Mortgage only possible exception.

2.5.1.1.1. once debt gone, invest

2.6. Simple

2.6.1. Simple plan keep

2.6.1.1. Tool Focused

2.6.1.1.1. Regular - Irregular Income & Expenses

2.7. Budget

2.7.1. Calendar

2.7.1.1. Challenge

3. SUMMARY

3.1. Mindset

3.1.1. yes you can

3.2. Value

3.3. Growth

3.3.1. Money

3.3.1.1. You

3.4. Opportunity

4. INCOME

4.1. Put 80% effort here - Top down.

4.1.1. while very close, not a cure all.

4.1.1.1. BIG TRAP

4.1.1.1.1. Make more, spend more.

4.2. Get paid for value

4.2.1. how can you increase your value?

4.2.1.1. Solve Problems

4.2.1.2. Get creative

4.2.1.3. Education - caution

4.2.1.3.1. experience

4.2.1.4. Growth -vs- Fixed

4.3. Enjoy what you do

4.3.1. work towards it

4.3.1.1. stepping stones

4.3.1.2. not giant leaps

5. ASSETS

5.1. Savings

5.1.1. Life happens - no surprise

5.1.1.1. rainy day

5.1.1.1.1. Get away from need

5.2. Freedom

5.2.1. Make your own decisions not your money.

5.2.1.1. Trading Dollars for Time

5.3. You & Your money

5.3.1. grow/build both

5.4. Opportuntiy

5.4.1. be ready (you and money)

5.4.1.1. Mark Cuban