SlideShare une entreprise Scribd logo
1  sur  27
PROSPERITY FROM
PAYCHECK TO PAYCHECK:
MAKE THE MOST OF YOUR
MONEY EACH MONTH
MASTERING THE BASICS
• Recognize the importance of knowing your income, debt
and savings.
• Increase awareness of thoughtless / frivolous spending
and how to decrease and eliminate such spending.
• See how following a budget can benefit you.
MASTERING YOUR MONEY
• Understand the necessity of paying off debt.
• Learn how to use part of your savings to erase debt.
• Stay out of debt.
• Start to invest in your future.
FOLLOW THESE 8 STEPS TO STOP LIVING
PAYCHECK TO PAYCHECK FOREVER
1. Acknowledge your current financial state.
2. Know your monthly income and debt totals.
3. Cut excess spending today.
4. Start saving money this week.
5. Begin paying down your debt.
6. Earn extra income to pay down debt/save.
7. Create a budget you can live with.
8. Start an emergency fund & savings account.
STEP ONE: ACKNOWLEDGE YOUR
CURRENT FINANCIAL STATE
You Can Have A Better Financial Life Even With Your Current Salary
Change how you handle your cash now to transform your financial future.
Are You Living Paycheck To Paycheck?
What would happen if, the next time you expected a paycheck, you didn’t get it?
What Is Your Total Debt?
How Much Money Do You Have Right Now?
Total all your accounts. Savings, stocks/401k, CDs, and cash.
STEP TWO: KNOW YOUR INCOME AMOUNT AND
WHAT YOU’RE PAYING FOR EACH MONTH
Subtract your total
outgoing dollars
from your incoming
dollars.
If the result is a
negative number,
you’re spending
more than you
make!
Don’t enrich the
credit card
companies. Start
laying a foundation
for a better future.
Now—
Subtract!
Now, list
everything you
pay in a month
— household bills,
gas/car bills,
haircuts,
entertainment,
meals out, and
medical/dental.
Outgoing
dollars
List all the
money that
comes into
your
household in a
month.
Incoming
dollars
“MANY PEOPLE ARE IN THE DARK WHEN IT
COMES TO MONEY, AND I’M GOING TO TURN ON
THE LIGHTS.”
SUZE ORMAN
STEP THREE:
CUT EXCESS SPENDING TODAY
Record all
expenses
for 7
days.
Discover
where your
frivolous
spending
is, then
stop it.
Which
expenses
can you cut
from
monthly
outgoing
dollars?
Get rid of 1
monthly
expense
and reduce
two others.
Keep in
your wallet
only the
credit card
with lowest
interest.
STEP FOUR:
START SAVING MONEY RIGHT NOW
• Each day,
place your
left-over
change in the
jar.
• If you didn’t
get change
that day, place
a $1 bill in the
jar.
Save change in a jar or
piggy bank
• Make your
deposit
toward
month’s end.
• No matter
how much
you have, put
it in the bank
every month.
Deposit the change monthly into
your bank or credit union
• Save the $5
from grocery
money or
what you
spend eating
out.
• You’re
establishing
the habit of
paying
yourself, no
matter what.
• Place this $5
in the bank,
along with
your change
every month.
Pick a weekday to pay
yourself $5.
Avoid the
temptation
to dip into
the jar or
savings
account.
STEP FIVE: BEGIN PAYING
OFF YOUR DEBT
A SECRET TO STOP LIVING PAYCHECK TO PAYCHECK IS
TO REDUCE YOUR DEBT SO YOU’LL HAVE CASH IF YOU
NEED IT
GET ORGANIZED, AND GET SERIOUS
ABOUT PAYING OFF YOUR DEBT
List your
debts and
decide
which
you’ll pay
off first.
Use half of your
savings
account money
along with the
amount you
normally pay
toward the debt
to apply toward
the targeted
debt.
This process
will go faster
than you
think!
• Although this step will be tough,
and take some time, it’s an
important aspect of liberating
yourself from the cycle of debt and
securing a better financial future.
“IT IS INCUMBENT UPON EACH OF US TO IMPROVE SPENDING
AND SAVINGS PRACTICES TO ENSURE OUR OWN INDIVIDUAL
FINANCIAL SECURITY AND PRESERVE THE COLLECTIVE
ECONOMIC WELL-BEING OF OUR GREAT SOCIETY.”
RON LEWIS
STEP SIX: EARN EXTRA INCOME ANY
(HONEST) WAY YOU CAN
• Examine all your skills and abilities with an open
mind.
• You’ll be pleasantly surprised to learn that
people will pay you to do those services for
them.
• Save part of what you earn and use the rest to
pay down debt.
HOW TO EARN EXTRA CASH
Advertise your skills in
local newspapers or on
Fiverr and freelance sites.
Use talents/skills to help
the elderly for pay.
Connect with your network
to see if anyone needs
your help.
“EARLY TO BED AND EARLY TO RISE, MAKES
A MAN HEALTHY, WEALTHY AND WISE.”
BENJAMIN FRANKLIN
STEP 7: DRAW UP A BUDGET AND STICK
TO IT
Find a budget you like
Use realistic figures when drawing
up your budget
Review your budget and expenditures often
DIFFERENT BUDGETS TO TRY
• The line by line budget-write down all your income and
expenses. Then see what you can cut back on.
• The bucket budget-put all your money into 3 buckets,
such as rent and utilities, food and other important items,
and flexible spending/saving. Divide your paycheck into
3. Whatever is left over in the 3 buckets goes to savings.
STEP EIGHT: USE HALF AND SAVE
THE OTHER HALF OF YOUR SAVINGS
APPLY HALF TOWARD THE DEBT YOU’RE PAYING
OFF
HOW TO MANAGE SAVINGS:
• Apply half of your
total savings toward
the debt you’re
paying off, in addition
to the payment you’d
normally make.
• Hint: Making more than
1 monthly payment will
boost your credit score.
• Leave the other half
of your savings in the
bank to accrue. You’ll
be putting this money
aside as an emergency
fund.
• Hint: Try to find a credit
union that pays
interest. It will not let
you withdraw the
money easily so you
will avoid temptation
and your savings will
keep growing.
CONTINUE SAVING
• Save enough for your 6 month emergency fund
first.
• Next, put aside $500 for a mini-crisis so if
something unforeseen occurs, you’ll be ready.
• Ensure you replace any money you use for a
mini-crisis by continuing to bank your change.
• Later, you can start a New Car Fund or a
Vacation Fund if you like. YOU are in control of
your money and your financial future.
INCREASE THE AMOUNT YOU SAVE
WHENEVER YOU CAN
When you get a raise:
• Boost your savings amount weekly by at least
50% of the amount of the raise.
When you pay off a bill:
• Continue to pay your savings account at least
half of the payment.
• Pay your savings account the whole payment if
you have other debts to pay off so the money
can be applied toward your remaining debt.
"THE ART OF LIVING EASILY AS TO MONEY IS TO
PITCH YOUR SCALE OF LIVING ONE DEGREE
BELOW YOUR MEANS."
SIR HENRY TAYLOR
SUMMARY
HAVE YOU DECIDED TO STOP
LIVING PAYCHECK TO PAYCHECK?
8 SIMPLE STEPS
Acknowledge your financial state
Know incoming and outgoing dollars
Cut excess spending
Start saving money now
8 SIMPLE STEPS
Focus on paying off debts one by one
Earn extra income however you can
Design a budget and stick to it
Use half your savings to pay debt and save the
other half
“AS SURE AS THE SPRING WILL FOLLOW THE
WINTER, PROSPERITY AND ECONOMIC GROWTH
WILL FOLLOW RECESSION.”
BO BENNETT
TO YOUR SUCCESS!
NEED MORE HELP? GO TO:
http://eternalspiralbooks.com/prosperity

Contenu connexe

Tendances

Budgeting & Saving PowerPoint
Budgeting & Saving PowerPointBudgeting & Saving PowerPoint
Budgeting & Saving PowerPoint
emurfield
 
Christian Financial Planning
Christian Financial PlanningChristian Financial Planning
Christian Financial Planning
Tay Ho Soon
 

Tendances (20)

Money Saving Tips 2
Money Saving Tips 2Money Saving Tips 2
Money Saving Tips 2
 
Your Financial Plan
Your Financial PlanYour Financial Plan
Your Financial Plan
 
10 reasons why managing your money effectively is important
10 reasons why managing your money effectively is important10 reasons why managing your money effectively is important
10 reasons why managing your money effectively is important
 
Women Cash Flow And Budgeting
Women Cash Flow And BudgetingWomen Cash Flow And Budgeting
Women Cash Flow And Budgeting
 
Patf financial education, 2nd edition final
Patf financial education, 2nd edition finalPatf financial education, 2nd edition final
Patf financial education, 2nd edition final
 
Building a Strong Financial House (stand alone)
Building a Strong Financial House (stand alone)Building a Strong Financial House (stand alone)
Building a Strong Financial House (stand alone)
 
Build a successful financial plan
Build a successful financial planBuild a successful financial plan
Build a successful financial plan
 
Good vs. Bad Spending - It's a Money Thing
Good vs. Bad Spending - It's a Money ThingGood vs. Bad Spending - It's a Money Thing
Good vs. Bad Spending - It's a Money Thing
 
Budgeting & Saving PowerPoint
Budgeting & Saving PowerPointBudgeting & Saving PowerPoint
Budgeting & Saving PowerPoint
 
How to Get Out of Debt
How to Get Out of DebtHow to Get Out of Debt
How to Get Out of Debt
 
Christian Financial Planning
Christian Financial PlanningChristian Financial Planning
Christian Financial Planning
 
Ammad awan glasgow - building a spending plan
Ammad awan glasgow - building a spending planAmmad awan glasgow - building a spending plan
Ammad awan glasgow - building a spending plan
 
Navigating Income Loss - It's a Money Thing
Navigating Income Loss - It's a Money ThingNavigating Income Loss - It's a Money Thing
Navigating Income Loss - It's a Money Thing
 
Are you financially healthy
Are you financially healthyAre you financially healthy
Are you financially healthy
 
How To Save Money
How To Save MoneyHow To Save Money
How To Save Money
 
Tips To Manage Your Money
Tips To Manage Your MoneyTips To Manage Your Money
Tips To Manage Your Money
 
Money Management
Money ManagementMoney Management
Money Management
 
Savings Culture
Savings CultureSavings Culture
Savings Culture
 
How to Spend Money Wisely
How to Spend Money WiselyHow to Spend Money Wisely
How to Spend Money Wisely
 
Money Saving Tips
Money Saving TipsMoney Saving Tips
Money Saving Tips
 

Similaire à Prosperity from Paycheck to Paycheck

How-to Guide to Improving Your Personal Finances in 5 Easy Steps
How-to Guide to Improving Your Personal Finances in 5 Easy StepsHow-to Guide to Improving Your Personal Finances in 5 Easy Steps
How-to Guide to Improving Your Personal Finances in 5 Easy Steps
Francine Acuña Moyer
 
Personal finance & investing
Personal finance & investingPersonal finance & investing
Personal finance & investing
Zaini Ithnin
 
7 Big Mistakes eGuide
7 Big Mistakes eGuide7 Big Mistakes eGuide
7 Big Mistakes eGuide
Ryan Isaac
 

Similaire à Prosperity from Paycheck to Paycheck (20)

CCSN Powerpoint Template_planningfornewreality.pptx
CCSN Powerpoint Template_planningfornewreality.pptxCCSN Powerpoint Template_planningfornewreality.pptx
CCSN Powerpoint Template_planningfornewreality.pptx
 
Financial management for just married couples
Financial management for just married couplesFinancial management for just married couples
Financial management for just married couples
 
Personal budgeting training
Personal budgeting trainingPersonal budgeting training
Personal budgeting training
 
Financial freedom-ebook
Financial freedom-ebookFinancial freedom-ebook
Financial freedom-ebook
 
How-to Guide to Improving Your Personal Finances in 5 Easy Steps
How-to Guide to Improving Your Personal Finances in 5 Easy StepsHow-to Guide to Improving Your Personal Finances in 5 Easy Steps
How-to Guide to Improving Your Personal Finances in 5 Easy Steps
 
Financial intelligence
Financial intelligenceFinancial intelligence
Financial intelligence
 
Personal finance & investing
Personal finance & investingPersonal finance & investing
Personal finance & investing
 
10 Tips Towards Financial Freedom
10 Tips Towards Financial Freedom10 Tips Towards Financial Freedom
10 Tips Towards Financial Freedom
 
5 Things You Should Know about Personal Finance
5 Things You Should Know about Personal Finance5 Things You Should Know about Personal Finance
5 Things You Should Know about Personal Finance
 
Debt Shrink Principle
Debt Shrink PrincipleDebt Shrink Principle
Debt Shrink Principle
 
One Goal at a Time
One Goal at a TimeOne Goal at a Time
One Goal at a Time
 
7 Big Mistakes eGuide
7 Big Mistakes eGuide7 Big Mistakes eGuide
7 Big Mistakes eGuide
 
Get out of debt in 11 easy steps slide
Get out of debt in 11 easy steps slideGet out of debt in 11 easy steps slide
Get out of debt in 11 easy steps slide
 
Personal Finance Management.pdf
Personal Finance Management.pdfPersonal Finance Management.pdf
Personal Finance Management.pdf
 
3 budgeting and snowball updated
3 budgeting and snowball updated3 budgeting and snowball updated
3 budgeting and snowball updated
 
Budgeting
BudgetingBudgeting
Budgeting
 
11_steps_to_financial_freedom
11_steps_to_financial_freedom11_steps_to_financial_freedom
11_steps_to_financial_freedom
 
Top Tips To Plan A Smarter Retirement
Top Tips To Plan A Smarter RetirementTop Tips To Plan A Smarter Retirement
Top Tips To Plan A Smarter Retirement
 
Stanford CS 007-04 (2021): Personal Finance for Engineers / Savings & Budgets
Stanford CS 007-04 (2021): Personal Finance for Engineers / Savings & BudgetsStanford CS 007-04 (2021): Personal Finance for Engineers / Savings & Budgets
Stanford CS 007-04 (2021): Personal Finance for Engineers / Savings & Budgets
 
Seven Baby Steps by Dave Ramsey
Seven Baby Steps by Dave RamseySeven Baby Steps by Dave Ramsey
Seven Baby Steps by Dave Ramsey
 

Plus de Eternal Spiral Books

Plus de Eternal Spiral Books (20)

How to Start a Successful Small Business Even If You Don't Have Much Cash
How to Start a Successful Small Business Even If You Don't Have Much CashHow to Start a Successful Small Business Even If You Don't Have Much Cash
How to Start a Successful Small Business Even If You Don't Have Much Cash
 
How to Start Working as a Virtual Assistant: Basics for Beginners
How to Start Working as a Virtual Assistant: Basics for BeginnersHow to Start Working as a Virtual Assistant: Basics for Beginners
How to Start Working as a Virtual Assistant: Basics for Beginners
 
Blogging 102 Course - Starting and Running Your Own Successful Blog
Blogging 102 Course - Starting and Running Your Own Successful BlogBlogging 102 Course - Starting and Running Your Own Successful Blog
Blogging 102 Course - Starting and Running Your Own Successful Blog
 
Amazon Affiliate Profits Made Easy
Amazon Affiliate Profits Made EasyAmazon Affiliate Profits Made Easy
Amazon Affiliate Profits Made Easy
 
Focus and Productivity 101 Course
Focus and Productivity 101 CourseFocus and Productivity 101 Course
Focus and Productivity 101 Course
 
WordPress Plugins for Beginner Bloggers
WordPress Plugins for Beginner BloggersWordPress Plugins for Beginner Bloggers
WordPress Plugins for Beginner Bloggers
 
Affiliate Marketing 101-Basics for Beginners
Affiliate Marketing 101-Basics for BeginnersAffiliate Marketing 101-Basics for Beginners
Affiliate Marketing 101-Basics for Beginners
 
Telegram App Marketing Secrets
Telegram App Marketing SecretsTelegram App Marketing Secrets
Telegram App Marketing Secrets
 
5 Creative Joint Venture Partnership Ideas
5 Creative Joint Venture Partnership Ideas5 Creative Joint Venture Partnership Ideas
5 Creative Joint Venture Partnership Ideas
 
ATTRACTING THE LIFE YOU DESIRE: How to Live Mindfully to Create a Successful ...
ATTRACTING THE LIFE YOU DESIRE: How to Live Mindfully to Create a Successful ...ATTRACTING THE LIFE YOU DESIRE: How to Live Mindfully to Create a Successful ...
ATTRACTING THE LIFE YOU DESIRE: How to Live Mindfully to Create a Successful ...
 
Having a Happy Thanksgiving Made Easy
Having a Happy Thanksgiving Made EasyHaving a Happy Thanksgiving Made Easy
Having a Happy Thanksgiving Made Easy
 
The Power of Mindfulness-Basics for Beginners
The Power of Mindfulness-Basics for BeginnersThe Power of Mindfulness-Basics for Beginners
The Power of Mindfulness-Basics for Beginners
 
Make money from your hobby-Easy ways to start your own small business
Make money from your hobby-Easy ways to start your own small businessMake money from your hobby-Easy ways to start your own small business
Make money from your hobby-Easy ways to start your own small business
 
3 Key Steps to Success
3 Key Steps to Success3 Key Steps to Success
3 Key Steps to Success
 
Top 10 Email Subject Line Tips
Top 10 Email Subject Line TipsTop 10 Email Subject Line Tips
Top 10 Email Subject Line Tips
 
Pokemon Go Marketing 101: A Step-by-Step Guide for Beginners
Pokemon Go Marketing 101: A Step-by-Step Guide for BeginnersPokemon Go Marketing 101: A Step-by-Step Guide for Beginners
Pokemon Go Marketing 101: A Step-by-Step Guide for Beginners
 
How to Increase Your Inspiration
How to Increase Your InspirationHow to Increase Your Inspiration
How to Increase Your Inspiration
 
How to Use Pinterest for Marketing Purposes, Part 2 of 3
 How to Use Pinterest for Marketing Purposes, Part 2 of 3 How to Use Pinterest for Marketing Purposes, Part 2 of 3
How to Use Pinterest for Marketing Purposes, Part 2 of 3
 
Sending Your Child to Summer Camp: Basics for Beginners
Sending Your Child to Summer Camp: Basics for BeginnersSending Your Child to Summer Camp: Basics for Beginners
Sending Your Child to Summer Camp: Basics for Beginners
 
Saving Success Part 2
Saving Success Part 2Saving Success Part 2
Saving Success Part 2
 

Dernier

Call Girls in Yamuna Vihar (delhi) call me [🔝9953056974🔝] escort service 24X7
Call Girls in  Yamuna Vihar  (delhi) call me [🔝9953056974🔝] escort service 24X7Call Girls in  Yamuna Vihar  (delhi) call me [🔝9953056974🔝] escort service 24X7
Call Girls in Yamuna Vihar (delhi) call me [🔝9953056974🔝] escort service 24X7
9953056974 Low Rate Call Girls In Saket, Delhi NCR
 

Dernier (20)

Mahendragarh Escorts 🥰 8617370543 Call Girls Offer VIP Hot Girls
Mahendragarh Escorts 🥰 8617370543 Call Girls Offer VIP Hot GirlsMahendragarh Escorts 🥰 8617370543 Call Girls Offer VIP Hot Girls
Mahendragarh Escorts 🥰 8617370543 Call Girls Offer VIP Hot Girls
 
7 tips trading Deriv Accumulator Options
7 tips trading Deriv Accumulator Options7 tips trading Deriv Accumulator Options
7 tips trading Deriv Accumulator Options
 
Call Girls in Yamuna Vihar (delhi) call me [🔝9953056974🔝] escort service 24X7
Call Girls in  Yamuna Vihar  (delhi) call me [🔝9953056974🔝] escort service 24X7Call Girls in  Yamuna Vihar  (delhi) call me [🔝9953056974🔝] escort service 24X7
Call Girls in Yamuna Vihar (delhi) call me [🔝9953056974🔝] escort service 24X7
 
Benefits & Risk Of Stock Loans
Benefits & Risk Of Stock LoansBenefits & Risk Of Stock Loans
Benefits & Risk Of Stock Loans
 
Seeman_Fiintouch_LLP_Newsletter_May-2024.pdf
Seeman_Fiintouch_LLP_Newsletter_May-2024.pdfSeeman_Fiintouch_LLP_Newsletter_May-2024.pdf
Seeman_Fiintouch_LLP_Newsletter_May-2024.pdf
 
✂️ 👅 Independent Bhubaneswar Escorts Odisha Call Girls With Room Bhubaneswar ...
✂️ 👅 Independent Bhubaneswar Escorts Odisha Call Girls With Room Bhubaneswar ...✂️ 👅 Independent Bhubaneswar Escorts Odisha Call Girls With Room Bhubaneswar ...
✂️ 👅 Independent Bhubaneswar Escorts Odisha Call Girls With Room Bhubaneswar ...
 
Certified Kala Jadu, Black magic specialist in Rawalpindi and Bangali Amil ba...
Certified Kala Jadu, Black magic specialist in Rawalpindi and Bangali Amil ba...Certified Kala Jadu, Black magic specialist in Rawalpindi and Bangali Amil ba...
Certified Kala Jadu, Black magic specialist in Rawalpindi and Bangali Amil ba...
 
Solution Manual For Financial Statement Analysis, 13th Edition By Charles H. ...
Solution Manual For Financial Statement Analysis, 13th Edition By Charles H. ...Solution Manual For Financial Statement Analysis, 13th Edition By Charles H. ...
Solution Manual For Financial Statement Analysis, 13th Edition By Charles H. ...
 
Kopar Khairane Cheapest Call Girls✔✔✔9833754194 Nerul Premium Call Girls-Navi...
Kopar Khairane Cheapest Call Girls✔✔✔9833754194 Nerul Premium Call Girls-Navi...Kopar Khairane Cheapest Call Girls✔✔✔9833754194 Nerul Premium Call Girls-Navi...
Kopar Khairane Cheapest Call Girls✔✔✔9833754194 Nerul Premium Call Girls-Navi...
 
In Sharjah ௵(+971)558539980 *_௵abortion pills now available.
In Sharjah ௵(+971)558539980 *_௵abortion pills now available.In Sharjah ௵(+971)558539980 *_௵abortion pills now available.
In Sharjah ௵(+971)558539980 *_௵abortion pills now available.
 
Thane Call Girls , 07506202331 Kalyan Call Girls
Thane Call Girls , 07506202331 Kalyan Call GirlsThane Call Girls , 07506202331 Kalyan Call Girls
Thane Call Girls , 07506202331 Kalyan Call Girls
 
Pension dashboards forum 1 May 2024 (1).pdf
Pension dashboards forum 1 May 2024 (1).pdfPension dashboards forum 1 May 2024 (1).pdf
Pension dashboards forum 1 May 2024 (1).pdf
 
Strategic Resources May 2024 Corporate Presentation
Strategic Resources May 2024 Corporate PresentationStrategic Resources May 2024 Corporate Presentation
Strategic Resources May 2024 Corporate Presentation
 
Escorts Indore Call Girls-9155612368-Vijay Nagar Decent Fantastic Call Girls ...
Escorts Indore Call Girls-9155612368-Vijay Nagar Decent Fantastic Call Girls ...Escorts Indore Call Girls-9155612368-Vijay Nagar Decent Fantastic Call Girls ...
Escorts Indore Call Girls-9155612368-Vijay Nagar Decent Fantastic Call Girls ...
 
Fixed exchange rate and flexible exchange rate.pptx
Fixed exchange rate and flexible exchange rate.pptxFixed exchange rate and flexible exchange rate.pptx
Fixed exchange rate and flexible exchange rate.pptx
 
Significant AI Trends for the Financial Industry in 2024 and How to Utilize Them
Significant AI Trends for the Financial Industry in 2024 and How to Utilize ThemSignificant AI Trends for the Financial Industry in 2024 and How to Utilize Them
Significant AI Trends for the Financial Industry in 2024 and How to Utilize Them
 
Virar Best Sex Call Girls Number-📞📞9833754194-Poorbi Nalasopara Housewife Cal...
Virar Best Sex Call Girls Number-📞📞9833754194-Poorbi Nalasopara Housewife Cal...Virar Best Sex Call Girls Number-📞📞9833754194-Poorbi Nalasopara Housewife Cal...
Virar Best Sex Call Girls Number-📞📞9833754194-Poorbi Nalasopara Housewife Cal...
 
cost-volume-profit analysis.ppt(managerial accounting).pptx
cost-volume-profit analysis.ppt(managerial accounting).pptxcost-volume-profit analysis.ppt(managerial accounting).pptx
cost-volume-profit analysis.ppt(managerial accounting).pptx
 
Collecting banker, Capacity of collecting Banker, conditions under section 13...
Collecting banker, Capacity of collecting Banker, conditions under section 13...Collecting banker, Capacity of collecting Banker, conditions under section 13...
Collecting banker, Capacity of collecting Banker, conditions under section 13...
 
Famous Kala Jadu, Black magic expert in Faisalabad and Kala ilam specialist i...
Famous Kala Jadu, Black magic expert in Faisalabad and Kala ilam specialist i...Famous Kala Jadu, Black magic expert in Faisalabad and Kala ilam specialist i...
Famous Kala Jadu, Black magic expert in Faisalabad and Kala ilam specialist i...
 

Prosperity from Paycheck to Paycheck

  • 1. PROSPERITY FROM PAYCHECK TO PAYCHECK: MAKE THE MOST OF YOUR MONEY EACH MONTH
  • 2. MASTERING THE BASICS • Recognize the importance of knowing your income, debt and savings. • Increase awareness of thoughtless / frivolous spending and how to decrease and eliminate such spending. • See how following a budget can benefit you.
  • 3. MASTERING YOUR MONEY • Understand the necessity of paying off debt. • Learn how to use part of your savings to erase debt. • Stay out of debt. • Start to invest in your future.
  • 4. FOLLOW THESE 8 STEPS TO STOP LIVING PAYCHECK TO PAYCHECK FOREVER 1. Acknowledge your current financial state. 2. Know your monthly income and debt totals. 3. Cut excess spending today. 4. Start saving money this week. 5. Begin paying down your debt. 6. Earn extra income to pay down debt/save. 7. Create a budget you can live with. 8. Start an emergency fund & savings account.
  • 5. STEP ONE: ACKNOWLEDGE YOUR CURRENT FINANCIAL STATE You Can Have A Better Financial Life Even With Your Current Salary Change how you handle your cash now to transform your financial future. Are You Living Paycheck To Paycheck? What would happen if, the next time you expected a paycheck, you didn’t get it? What Is Your Total Debt? How Much Money Do You Have Right Now? Total all your accounts. Savings, stocks/401k, CDs, and cash.
  • 6. STEP TWO: KNOW YOUR INCOME AMOUNT AND WHAT YOU’RE PAYING FOR EACH MONTH Subtract your total outgoing dollars from your incoming dollars. If the result is a negative number, you’re spending more than you make! Don’t enrich the credit card companies. Start laying a foundation for a better future. Now— Subtract! Now, list everything you pay in a month — household bills, gas/car bills, haircuts, entertainment, meals out, and medical/dental. Outgoing dollars List all the money that comes into your household in a month. Incoming dollars
  • 7. “MANY PEOPLE ARE IN THE DARK WHEN IT COMES TO MONEY, AND I’M GOING TO TURN ON THE LIGHTS.” SUZE ORMAN
  • 8. STEP THREE: CUT EXCESS SPENDING TODAY Record all expenses for 7 days. Discover where your frivolous spending is, then stop it. Which expenses can you cut from monthly outgoing dollars? Get rid of 1 monthly expense and reduce two others. Keep in your wallet only the credit card with lowest interest.
  • 9. STEP FOUR: START SAVING MONEY RIGHT NOW • Each day, place your left-over change in the jar. • If you didn’t get change that day, place a $1 bill in the jar. Save change in a jar or piggy bank • Make your deposit toward month’s end. • No matter how much you have, put it in the bank every month. Deposit the change monthly into your bank or credit union • Save the $5 from grocery money or what you spend eating out. • You’re establishing the habit of paying yourself, no matter what. • Place this $5 in the bank, along with your change every month. Pick a weekday to pay yourself $5. Avoid the temptation to dip into the jar or savings account.
  • 10. STEP FIVE: BEGIN PAYING OFF YOUR DEBT A SECRET TO STOP LIVING PAYCHECK TO PAYCHECK IS TO REDUCE YOUR DEBT SO YOU’LL HAVE CASH IF YOU NEED IT
  • 11. GET ORGANIZED, AND GET SERIOUS ABOUT PAYING OFF YOUR DEBT List your debts and decide which you’ll pay off first. Use half of your savings account money along with the amount you normally pay toward the debt to apply toward the targeted debt. This process will go faster than you think! • Although this step will be tough, and take some time, it’s an important aspect of liberating yourself from the cycle of debt and securing a better financial future.
  • 12. “IT IS INCUMBENT UPON EACH OF US TO IMPROVE SPENDING AND SAVINGS PRACTICES TO ENSURE OUR OWN INDIVIDUAL FINANCIAL SECURITY AND PRESERVE THE COLLECTIVE ECONOMIC WELL-BEING OF OUR GREAT SOCIETY.” RON LEWIS
  • 13. STEP SIX: EARN EXTRA INCOME ANY (HONEST) WAY YOU CAN • Examine all your skills and abilities with an open mind. • You’ll be pleasantly surprised to learn that people will pay you to do those services for them. • Save part of what you earn and use the rest to pay down debt.
  • 14. HOW TO EARN EXTRA CASH Advertise your skills in local newspapers or on Fiverr and freelance sites. Use talents/skills to help the elderly for pay. Connect with your network to see if anyone needs your help.
  • 15. “EARLY TO BED AND EARLY TO RISE, MAKES A MAN HEALTHY, WEALTHY AND WISE.” BENJAMIN FRANKLIN
  • 16. STEP 7: DRAW UP A BUDGET AND STICK TO IT Find a budget you like Use realistic figures when drawing up your budget Review your budget and expenditures often
  • 17. DIFFERENT BUDGETS TO TRY • The line by line budget-write down all your income and expenses. Then see what you can cut back on. • The bucket budget-put all your money into 3 buckets, such as rent and utilities, food and other important items, and flexible spending/saving. Divide your paycheck into 3. Whatever is left over in the 3 buckets goes to savings.
  • 18. STEP EIGHT: USE HALF AND SAVE THE OTHER HALF OF YOUR SAVINGS APPLY HALF TOWARD THE DEBT YOU’RE PAYING OFF
  • 19. HOW TO MANAGE SAVINGS: • Apply half of your total savings toward the debt you’re paying off, in addition to the payment you’d normally make. • Hint: Making more than 1 monthly payment will boost your credit score. • Leave the other half of your savings in the bank to accrue. You’ll be putting this money aside as an emergency fund. • Hint: Try to find a credit union that pays interest. It will not let you withdraw the money easily so you will avoid temptation and your savings will keep growing.
  • 20. CONTINUE SAVING • Save enough for your 6 month emergency fund first. • Next, put aside $500 for a mini-crisis so if something unforeseen occurs, you’ll be ready. • Ensure you replace any money you use for a mini-crisis by continuing to bank your change. • Later, you can start a New Car Fund or a Vacation Fund if you like. YOU are in control of your money and your financial future.
  • 21. INCREASE THE AMOUNT YOU SAVE WHENEVER YOU CAN When you get a raise: • Boost your savings amount weekly by at least 50% of the amount of the raise. When you pay off a bill: • Continue to pay your savings account at least half of the payment. • Pay your savings account the whole payment if you have other debts to pay off so the money can be applied toward your remaining debt.
  • 22. "THE ART OF LIVING EASILY AS TO MONEY IS TO PITCH YOUR SCALE OF LIVING ONE DEGREE BELOW YOUR MEANS." SIR HENRY TAYLOR
  • 23. SUMMARY HAVE YOU DECIDED TO STOP LIVING PAYCHECK TO PAYCHECK?
  • 24. 8 SIMPLE STEPS Acknowledge your financial state Know incoming and outgoing dollars Cut excess spending Start saving money now
  • 25. 8 SIMPLE STEPS Focus on paying off debts one by one Earn extra income however you can Design a budget and stick to it Use half your savings to pay debt and save the other half
  • 26. “AS SURE AS THE SPRING WILL FOLLOW THE WINTER, PROSPERITY AND ECONOMIC GROWTH WILL FOLLOW RECESSION.” BO BENNETT
  • 27. TO YOUR SUCCESS! NEED MORE HELP? GO TO: http://eternalspiralbooks.com/prosperity