"Road to Prosperity"

An ongoing series of informational financial tips

T​he difference between a career and a job

CAREER: A profession for which one trains and

is undertaken as a permanent calling.

JOB: A paid position of regular employment.


Record Your Spending


Household Expenses


Debt Determination

Penny Pinching


Debt to Income Review


Dispute Credit Items

Record your spending

How are you spending your money?


List all spending habits, entertainment, travel plans, holidays, special occasions, hobbies, etc.

Household Expenses

List all household expenses, including transportation, food, internet, utility bills, insurance, medical and healthcare needs

Debt Determination

Review your list of household expenses and compare to the,

"record your spending list"


Determine what is NOT a necessity

Penny Pinching

Begin to make cuts from the

NOT a necessity items on your

expenses list

Debt to Income Review

After determining your debt and making penny pinching cuts.

Compare your overall debt to your monthly income.


You have completed the first step in BUDGETING



Dispute Credit Items


Evaluate Credit Utilization

CC usage should be under 30% for all credit card accounts

Credit Repair


Credit Card Payoff

Pay off highest credit card debts first

Don't save cc info online

CC usage should be under 30% for all credit card accounts

6 Month Credit Report Check


Savings

Pay off highest credit card debts first

have accountability partner

CC usage should be under 30% for all credit card accounts

unsubscribe from promotional emails


Set Goal 

Set an amount to be saved, date to meet goal, purpose for savings....name each

Create monthly savings plan

Determine how much can be saved monthly.

Have written plan for short and long term goals

Hawthorne Method


Auto Contribute to savings

Set up auto deduction from paycheck

Don't connect checking to savings

Determine how much can be saved monthly

Review savings

Have 3 to 6 months of living expenses in saving

Avoid late fees

Set up recurring bill pay options for all household expenses, to avoid being late or making partial payments


Determine how much can be saved monthly


Have 3 to 6 months of living expenses in saving

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