Personal Finance Rules to Building Wealth

Key 1 Pay your self first

key 2 Saving is not a punishment. Its making choices about how you'll use your money.

Key 3 Financial sucess involves hard choices. Be prepared to make them.

Key 4 Make a budget and stick to it.

Key 5 Future financial independence is worth present sacrifices.

Key 6 If you cant afford it pay cash, pass.

Key 7 Communicate with your creditors, especially if you are going to be late with a payment.

Key 8 As soon as expenses rise to the level of your income, trouble is not far behind.

Key 9 Self-discipline is the key to any sucessful financial program.

Key 10 Balancing your checkbook with each statement is essential. It costs only 15 minutes a month and is one of the best investments you can make.

Key 11 If you dont know where your money is going, you cant decide where to spend it.

Key 12A penny saved is a penny earned.

Key 13 You never know whats going to happen. Tuck away an emergency fund of at least 3 months.

Key 14 Save at least 10 percent of each paycheck.

Key 15 Beware of small expenses. Each muffin and cup of coffee on the way to work adds up over a years times.

Key make a list your basic, essential living costs and add them up to get a real picture of what you need to cover your monthly nut.

Key 16 Avoid the temptation of buying more than you need just because its a good price. You cant afford the savings.

Key 17 If you have multiple crdit cards, pay down your highest intersts cards first.

Key 18 Paying at least double the minimum required each month will show progress.

Key 19 Re-evaluate your personal budget at the begining of every year and adjust where needed.

Key 20 Teach your children how to save.

Mike Magana is a personal finance coach that helps families in reducing their taxes, getting out of debt, and controlling there living expenses. Please reach me at personalfinancecoach@yahoo.com for any comments.

---

Does the Moon Have Covers?

Recently, one late winter night, my four-year old son and... Read More

Early Retirement The Dream of the Working Classes

Everyone dreams of early retirement. The idea of no longer... Read More

Turn Your Job Loss Into the Opportunity of a Lifetime

There are few things in life that are more stressful... Read More

Finding Financial Freedom

Do you ever get this in your email box: Find... Read More

Why Get Rich When You Can Be Wealthy?

"Any fool can rich, the wise get wealthy." Chris WidenerGetting... Read More

Wealth Management, Wealth Protection, and Tax Planning

U.S. Supreme Justice Louis D. Brandeis"I live in Alexandria Virginia.... Read More

High Flying Market Makes Good Buys Hard to Find

AS THE MARKET FLIES HIGHER, GOOD BUYS ARE BECOMING HARDER... Read More

The Hawk and the Mouse - Saving for Retirement

There once was a hawk, ferocious and swift. He was... Read More

Build Wealth - Formula To Success

A mole travels one road, according to the way nature... Read More

Cost Averaging - It Makes Sense (Dollars & Cents)

It's no secret that the market goes UP...the market, goes... Read More

What is Your Creative Retirement Plan?

The idle are a peculiar kind of dead that cannot... Read More

10 Wisdom-Based Wealth-Building Strategies

"It's the business of your life?and you're the CEO!" Gala... Read More

Are You Ready For Undesired Events?

Planning for the undesired, accidents and possible unknowns in life.... Read More

Trustees: Who Can You Trust?

Early in my legal career I represented two young women... Read More

What Are Your Beliefs About Money and Wealth?

What is your attitude towards having wealth? Do you believe... Read More

You Deserve To Retire Early

The fact is that most people continue to work for... Read More

The Difference Between Wants & Needs

So you want to become wealthy? While there is no... Read More

Don?t Work for Your Money, Make it Work for You!

Well, the New Year is around the corner and so... Read More

Your Own Products Can Make You Rich

Although there are advantages to selling other people`s products and... Read More

Still Using Federal Reserve Notes?(How to Beat Inflation)

"My people are destroyed for lack of knowledge." Hosea 4:6... Read More

Spiritual and Emotional Money Goals: The Keys to a Financially Free Future

Are you setting the right money goals?Most people believe having... Read More

Russ Whitney - Building Wealth Through Real Estate

When Building Wealth by Russ Whitney was released a few... Read More

You Can`t Cheat An Honest Man

Author: James Walsh ISBN: 1563431696: Publisher: Silver Lake PublishingIn... Read More

It Adds Up

Loose change that is, if you want a easy way... Read More

3 Simple Ways to Generate Cash Flow

This article focuses on generating cash as a full time... Read More

Is Your Money Keeping Up With Inflation?

In today's unpredictable global economy, you obviously never know what... Read More

Discover the Secrets and Possible Solutions To Money Problems

It is sometimes pitful how many projects are never born... Read More

Residual Income - Part Three Finding Leaders

In my last article on Creating Residual Income I mentioned... Read More

Financial Planning For Singles

Financial planning often gets a bad rap. Part of the... Read More

Investing is About Discipline

If you don't have discipline then walk away from the... Read More

The Underlying Belief System

Many of us do not consider the underlying belief system... Read More

Let Me Inspire You - You Aint Seen Nothing Yet! (PART-1)

You know about compounding right? You understand what pyramiding your... Read More

5 Easy Ways to Save and Build Wealth

1. Pay off high-cost debt. The best investment most borrowers... Read More