Ten Things You Should Know About Money And Debt
Tired of hearing about money and debt? Are you on overload yet on the myriad of strategies that will get you out of debt and allow you to become a Financial ninja?
Here are 10 takeaways that you can implement immediately that will send you on your road to becoming a personal finance guru:
- Know the difference between your financial needs and wants: Beware of impulse shopping.
- Know your total assets and liabilities: Prepare a personal balance sheet of savings/investments and debts.
- Know what you are spending each month and on what.
- Know what your financial goals are: Create a personal savings and spending plan and implement it immediately.
- Understand the power of compund interest: Make your money work for you.
- Know your investment options. You can choose among high, medium and low risk alternatives.
- Credit – when used wisely – can help you improve your personal finances.
- There is such a thing as good debt! A mortgage, for example, can help you build a strong financial record. And it’s tax deductible.
- Bankruptcy is not your first or best option. It should be your las resort.
- Debt consolidation via a home equity loan is not always the best way to go (if you don’t curb the spending habits that put you in debt to begin with you could lose your home).
Try our War on Wealth Series Of Blog posts; it will be well worth your reading:
War On Wealth – A Primer (Introduction)The Accidental Philanthropist; but Uncle Sam! How Many Times Can You Tax The Same @#$% dollar?
How Not To Turn $20 Into A $75,000 Disaster Maximizing The “Bank Of You Concept”; Setting Up Your Own Private Bank Life Insurance As An Estate Planning Tool Private Retirement Plans Vs. Employer Sponsored Retirement Plan Options Special Valuations For Intra-Family Transfers, Gift Taxes And Lifetime Transfers Why You Should Start A Personal Business? Advantages And Disadvantages Of Investing In Annuities How Owning Real Estate Can Help Me Save Taxes How To Reduce Your Real Estate Taxes Annuities, How They Work And Their Tax Advantages The Three Proactive Strategies Of Asset Protection Trusts – A Basic Foundation Part II: Why You Should Start A Personal Business; The Nitty Gritty On Tax Advantages Step One – Lower Your Taxes In 9 Simple Steps; Winning The War On Wealth – Introduction
Webinar Opportunity – Minimize Taxes, Empower your Retirement, etc..
We have a webinar on Wednesday from 12:00pm-1:00pm called: “Isn’t It Time You Became Wealthy”, in which we will teach how to minimize taxes, how to make money even in a down market, and how to empower your retirement. Register for the webinar by going to http://becomewealthy.info/leon/Webinars.html
Leon C. Williams
Financial Strategist
LUCA Financial Services
leon@lucafinancial.com
blog: http://leonsblog.leonwilliams.me
Online Business Card: http://bizcard.leonwilliams.me
Other Reading Of Interest Includes:
Holiday Gift To yourself; Settle Your Debt
Five Ways To Get Some Extra Cash
Paying For The Debt Of The Dead
Simple Method For Debt Reduction
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Tagged with: assets • bankruptcy • compound interest • credit • debt • debt consolidation • finance • financial • financial goals • get out of debt • investment • liabilities
Filed under: debt • Financial Services
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