One thing that wealthy or well off people have in common is that most of them have a life plan. Meaning, they have goals and dreams that they want to attain. But to get to those goals they must have a plan to follow.Having a plan is very important. If you really want to take control of your Money then setup a plan. In sports, teams have a game plan. In war, armies have a strategy or a plan of attack.If your starting a buisness, a bank will not lend you money unless you have some kind of plan. Now for your money you should also have a plan. Robert Kiyosaki the author of Rich Dad Poor Dad has a chapter in one of his books named, "Getting Rich Is Automatic...If You Have a Good Plan and Stick to IT". He suggest first finding a financial advisor and begin from there. But lets get real how money of us are going to do that? So lets start with ourselves. The first step is finding where you stand right now. This entails writing down a monthly statement of your household cashflow. Meaning, find out how much income you have coming in and a detailed list of where that money goes out.(bills,gas,utilities,etc.)Also list all your oustanding debt like mortgages, car loans,credit card debt and all else.Find out how much money you have left after you pay all your bills and necessary expenses.Ok, so first write down your net income(net=actual money after taxes in other words actual take home money)
Then copy and paste this link to your browser, www.foxway.com/worksheet.html print out this expense sheet and fill it out to find out exactly where you stand. Well thats enough for today I will be back to continue "Having a Plan" stay tuned.Hope you follow through,
Mr.Cash