subject: 7 Baby Steps to Financial Success [print this page] 7 Baby Steps to Financial Success 7 Baby Steps to Financial Success
To learn to manage your personal finances is just as difficult as a little baby to learn to walk.
When you learn, however, everything becomes so easy and insignificant as an adult to walk.
Anyone can get out of financial mess and begin to manage its own revenues and expenses so that at one point to reach financial freedom,
without any need special education or knowledge. All you need is a faith in your own abilities and will to have better life.
Let me make it clear that the plan for financial freedom is designed especially for people who have large debts, leases, loans or live rent, pay mortgages, etc.
That plan is a quick exit from the shackles of banks, lenders and leasing companies.
7 baby steps at a glance
The main idea is to always have money for emergencies and quick to pay all debts that we have to different komapnii and institutions.
Here are seven steps:
1. Preparation of the Fund for emergency ( the cash for a rainy days fund :), as I call mine)
2. Payment of all debts ( start with highest debts first)
3. From 3 to 6 months for savings "Full emergency fund"
4. Investing 15% of total income in retirement account
5. Investing 15% of total revenues account for your child's college
6. Payment of your home mortgage
7. Building real wealth and financial independence
Don't forget, that you can always increse your income with many types of work from home opportunities. Just be careful and don't trust anyone that ask you to pay, so you can earn!
welcome to Insurances.net (https://www.insurances.net)
