| less of where we are in life we can all learn | | | | cars can easily go 150,000 miles and above. A |
| something about money and how to better | | | | two or three year old vehicle with 30,000 miles |
| prepare for our future. Especially when we see | | | | on it will save you not only in initial cost, but also |
| that the national average is $10,000 in credit card | | | | on your insurance, and taxes. Also do your |
| debt and that savings and preparedness is | | | | homework before buying your car. Get your |
| dropping. This article can put you back on track to | | | | credit score and see what loans you qualify for. |
| a more fulfilling and financially free life. | | | | This can easily be done right off the internet and |
| 1) Automate your investing. Experience has | | | | will save you big at your local dealer (never take |
| proven that if we have to make a conscious | | | | a dealers word for your credit and rate - they will |
| effort every time we need to invest we will start | | | | hold 1-3 points on rate and that can mean |
| with good intentions and then miserably fail a few | | | | thousands in extra interest over the term of the |
| months later. If you can automate your savings, | | | | loan). |
| whether by using your employers 401k, a sep | | | | 5) Get out of debt. I put the investment tips |
| (self employment plan), or direct deductions from | | | | above this as you need to pay yourself first. If |
| your account you will finish ahead. The rule here is | | | | you are overwhelmed with debt, their are |
| if you don't see it, you won't realize it and you | | | | numerous non-for-profit agencies that will |
| won't miss it. Some of these deductions will | | | | renegotiate your debt and terms on your behalf. |
| reduce your taxable income and save you further | | | | Work out a plan to get the high interest debt paid |
| on taxes (see your CPA and tax advisor for | | | | off. Be wiser with your purchases - do you really |
| more info on this). A good rule of thumb is to set | | | | need that 60 inch flat screen tv? a BMW you |
| aside 10% of your income. | | | | cannot afford? etc... Cut up all cards but 1 (for |
| 2) Real estate. If you haven't already, buy a | | | | emergencies you should have 1 credit card) and |
| house. Renting will only make your landlord (hint - | | | | no store cards. The whole purpose behiind store |
| house owner) rich. Regardless of what the | | | | cards is to entice you to buy more and pay |
| immediate market does real estate is one of the | | | | more. My grandfather said it best - "if you can't |
| best long term investments you can make. It also | | | | afford it, don't buy it." The only good loan to have |
| has many advantages including deductions for | | | | is a mortgage. |
| mortgage interest. Real estate will always go up. | | | | 6) Never burn bridges. If you happen to leave |
| People will always need a roof over their head. | | | | your current employ, leave on good terms. Find a |
| Just watch HGTV, real estate has made many | | | | replacement if time permits. This will put you in a |
| millionaires and is a key factor in almost every | | | | good light with your former management and can |
| tape and book series on gaining wealth. Stick with | | | | result in a good reference, another job, a callback |
| the standard 30 year fixed mortgage. | | | | for more money, etc... Never leave on bad terms. |
| 3) Medical and life insurance. You need to have | | | | Its just not good Kharma. Also, it won't hurt to |
| them, if you think you don't just ask anyone that | | | | take former business associates and customers |
| didn't have it when something unexpected | | | | to lunch regularly. This will keep you in tune to the |
| happened. If you love your family, they are a | | | | industry, give you many additional contacts afford |
| must. But, on that note, don't get taken. Buy | | | | you future favors - just think of the lobbyists on |
| term life. 20 years will give good term coverage | | | | Capital Hill, you don't think they spend all that |
| and if you follow all of these tips you won't need | | | | money on their politicians for nothing do you? |
| anything beyond that. Whole life only makes your | | | | Don't be afraid to ask for a favor every once in |
| agent rich and really never builds any value for | | | | a while. Kharma is the big rule here -when you |
| the huge costs involved. Term life can be | | | | help others you will inadvertently help yourself. |
| purchased cheap over the internet at great | | | | 7) Give back. Once you've made it it is only fair |
| savings. For medical insurance, in most states Blue | | | | that you help others less fortunate than yourself. |
| Cross and Blue Shield offer great plans that are a | | | | Regardless of your beliefs when you donate time |
| fraction of Cobra or employer plans. If you have | | | | and money to help others you will inadvertently |
| an adequate employer plan, by all means use it. | | | | help yourself. You will feel great. Also, the cardinal |
| Stick with big names like Blue Cross as they will | | | | rule of kharma is that when you give you will get |
| be around for years. | | | | many more times what you give back. Take the |
| 4) Don't ever buy new cars. It is a fact that new | | | | time to help by volunteering your time. Even if it |
| cars lose 25-30% of their value the moment you | | | | is 1 hour a week, you will help improve someone |
| drive it off the lot. Let someone else pay for that | | | | else's life. Volunteer, it will make you a better |
| depreciation and get a two or three year old car | | | | person. |
| or truck. With the latest technological advances | | | | |