1. Take a financial physical. The begining point of responsible, proactive money management is to determine the actual state of your finances. Most people are simply not realistic about where they are financially-and yet, if a person's physical health were at stake, (s)he would certainly be entirely candid with a physician. Just as a doctor needs the proper facts to make a correct diagnosis, a financial physical must also be completely accurate and honest. 2. Establish a finish line. Decide where you want to go, and then develop sound financial goals. Whether you want to provide for a college education, debt reduction, retirement,...you must establish the objectives, discuss them openly with your spouse, write them down, and keep them in prayr. 3. Plan how to get from here to there. An effective plan for getting from point one to point two is actually a five-step process:
a. Learn to live within your income.
b. Get out of debt
c. Increase your giving.
d. Become your own bank (increase your liquidity).
e. Invest to preserve wealth.
Here are the critical questions, that Ron Blue says you must ask yourself, when conducting your financial physical:
This comment has been removed by a blog administrator.
ReplyDeleteagain boca - you can pay to advertise, advertisers will only be accepted if they do not put readers further in debt.
ReplyDeleteI will have to remember that. My physical isn't very good.
ReplyDelete