Liiving pay check to pay check!

Most people that I know live from check to check. What if there's a hick up in your job? What if you were to get laid off? Would you be able to survive on your savings account? Will you make enough money on unemployment to cover your financial obligations? The answer for most of us is a astounding NO! The first thing to do is save enough money to be able to get through 6 months if you were to lose your main income stream. Start to put 10% of your net pay in your saving account right away. I know that this sounds hard to do at times, but this is your first step in building your financial worth. If you do this first, you will be able to get by. Don't touch this account unless it is an emergency. The more money you save, the better you'll feel. Don't make excuses and start building your net worth with your next pay check.

Spending money is a lot easier then making it!

My father always told me that getting rid of money is a lot easier then saving it. Boy was he right. Money is one of the hardest thing to get and the easiest thing to get rid of. Some people don't even know what they spend their money on. Have you ever taken money out of the bank and the next day or to it's gone? I have done this plenty of times. A friend of mine told me to carry a pad of paper for a week and write down everything I buy. I did it, and couldn't believe all the money I wasted. I'm not a big believer in budgets because then you are just dooming yourself to your current income. Always pay yourself first! If you have a retirement plan at work, join it. put at least 10% of your check in your plan. you won't believe how fast that account will grow. There is no better investment then the power of tax free compounding. the earlier you start, the more you will have in your later years. Start building your net worth today!

Live for today, don't worry about tomorrow!

I know a lot of people that live by this philosophy. Why should I save my money, I could be dead tomorrow? Is the phrase I hear from some of the people that I know. Well, let me say that unless you have some terminal illness and are laying in the hospital ready to go, chances are you will be around for a while. My father is 72 years old and has had 2 heart surgeries, has been in the hospital several times for hernias and is still play golf 3 times a week. The better medical technology gets, the longer it means that most of us will be around. Excuses don't build wealth, action does! Stay tuned for my next money saving tip.

To your health and wealth!

Build Wealth with less credit card interest!

First of all I want to say yahoo!!!!! to the DOW being up again. Going up 5 times in the last 6 trading days has to get everyone excited. Maybe the economy is heading in the right direction. No one really knows, but the big investors must be hearing something they like. Lets just hope that we are heading in the right direction.

Credit card companies are designed so that once you get in to debt and pay the minimum payment, you will never pay it off. They love having people in that position. What a lot of people don't know is that if you call them and ask them to lower their interest rate, a lot of them will drop your rate. "Simply by asking". Tell them that you have other offers that are much lower then they are. They won't want to lose you as a customer. A lower rate is better then nothing. If this doesn't work, play the credit card game! Take the offers that give you a low rate and transfer your balance to them. I've seen offers for 0% for 12 months. Remember to cancel your current card after you do that so you don't have to many open credit lines on your credit report. After you do this, "Do Not" use your card anymore. If you can't afford to buy it with out using your credit card, then you can't afford it! Always live with in your means.

I wish everyone financial success!

Net Worth, What is it?

First of all, seeing the DOW rise 4 days in a row has to have some people excited. Maybe my mutual funds are on the rise! I sure hope so.
I think that building your "net worth" is very important. The earlier you start the better. Net Worth is the bottom line after you subtract all your financial obligations. In other words, take the value of your house, cars, saving accounts and what ever other investments you have and then subtract out your financial obligations. What you still owe on your house, cars, credit cards and what ever else you owe on. The bottom line is your Net Worth.
One tip I have on saving money is with your Insurance Company. Raise your deductible as high as you feel comfortable with. Low deductibles might make you feel good, but they don't do you any good. They say you shouldn't even report a accident under $500.00. Raising your deductibles will lower your premiums. Take that savings and add it to your savings account!

The DOW up 3 days in a row!

It sure is nice seeing the DOW up 3 days in a row. I'm not sure what that means, but maybe it's a sign that the economy is going in the right way. This doesn't mean that the recession is over, but I think that it is a good time to start to buy mutual fund shares. I never stopped through out this whole economy turn down. I know that if the US thrives once again, my mutual funds will be a great investment. I have never been one to buy individual stocks because the risk is to great. Besides, I don't like to have all my eggs in one basket. Now is the time to start building up your net worth. I think CITI Bank showing a profit has the bulls running once again.