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4 - Credit

Understand difference between affordability and borrow-ability

Have a charge card, something you pay the balance in full every month. Let the budget rule the card not the card mess up your budget.

8 - Estate Planning

Create a Living Will






Business Partners

Special People

Create a Health Care Proxy

Designates a person to make medical decisions for you if you are unable to do so.

If you own a business, consider creating a DURABLE power of attorney, which gets activated when you are incapacitated.

7 - Insurance

Life Insurance by Employer

Life Insurance purchased by you. If you can afford it, don't count on employer's insurance only. Buy TERM only, a term of 20 or 30 years.

Medical Insurance

Disability Insurance (if your job doesn't provide one, get some)

3 - Savings

Retirement - Make it automatic. Ask your HR dept to deposit in another less accessible account. Start with a big number and see what you can cut.

Start with the end in mind. How much would you need monthly?

Savings not in patrimony - This should be another account where you save for big items. Vacations, gadgets, Iphones, etc

2 - Monthly/Daily Expenses

Create a budget. Email me and I'll send you a spreadsheet to help you

A budget is a way to tell the money how it will be spent. If you don't have a budget, "money" is doing this on its own.

STOP BUYING STUFF and enjoy what you have at home. Shopping is not a hobby, it's a chore.

Managing one's personal finance doesn't just mean paying your bills.

Track ALL your expenses by using a simple piece of paper in your wallet or use FREE automated application, such as Mint or Yodlee.

5 - Housing

Own an apartment or house

You don't need a castle, just enough space to live comfortable. Stay between 2 to 3 times your annual salary.

Pay off early if you can. Add what you can to payments.

6 - Car

Buy used cars ONLY, if you absolutely need it.

Use a company provided car and SAVE your money.

If your city allows it, use public transportation.

1 - Perform Needs Analysis

Create list of short term goals

Emergency Fund

Vacation Fund

Other Large Purchases

Long Term Goals


General Ideas

The rich are rich not because they make a lot of money, but because they save a lot of money.

Money by itself is useless. What having money does is take away $ worries and allow you to focus energy in other things.