by Will Bat
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4 - Credit
between affordability and
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
8 - Estate Planning
Create a Living Will
Create a Health Care Proxy
Designates a person to make medical
decisions for you if you are unable to do
If you own a business,
consider creating a
DURABLE power of
attorney, which gets
activated when you are
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
Disability Insurance (if your job
doesn't provide one, get
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
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
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
Track ALL your expenses by using a simple
piece of paper in your wallet or use FREE
automated application, such as Mint or
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
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
1 - Perform Needs Analysis
Create list of short term goals
Other Large Purchases
Long Term Goals
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