Solving The Money Puzzle Personal Use Ebook

Table Of Contents

Legal Notice …………………..iii
Table of Contents ………………….. iv
Greetings – What to Expect From This Book ………………. 1
Chapter One: Quick Wins – Take Control Now………………. 3
Use Your Common Sense …………………. 3
Find Everyday Savings ………………….. … 4
Accumulate an Emergency Fund ………………….. 5
Don’t Go Into Debt ………………….. 7
Find a Good Financial Planner ………………….. 8
Watch Your Credit Report ………………….. 9
Chapter Two: Fundamentals of Budgeting ………………….. 11
Budgeting – Your Essential Financial Planning Tool………………….. 12
The Art of Spending Wisely ………………….. 13
Rebates: Rewards or Rip-Offs? ………………… 14
Retail Therapy Quiz ………………….. 16
Should You Be Making Your Budget Now? ……………….. 17
Chapter Three: Get Active ………………….. 19
Organize Your Records………………….. 19
Clean Your Personal Finance House ………………….. 20
Personal Debt ………………….. 21
Planning for Long Term Care Needs ………………….. 22
Chapter Four: Credit Reports, Cards, and Scores ………………….. 24
Your Credit Report and Credit Score………………….. 24
Debunking Credit Card Myths………………….. 25
Credit Card Urban Legends ………………….. 26
Credit Card Banks Really Are Out to Get You…………….. 28
Credit Score Myths ………………….. 29
Chapter Five: Identity Theft………………….. 32
What Identity Theft Can Do To You ………………….. 32
Sources of Identity Theft ………………….. 33
Reduce the Risk ………………….. 37
What To Do if Your Identity Is Stolen ………………….. 37
Chapter Six: Estate Planning Fundamentals ………………. 41
The Objective of Estate Planning ………………….. 42
Making a Will ………………….. 43
Finding the Right Estate Planner ………………….. 44
Chapter Seven: Investing in Your Home……………….. 46
How to Add Value to Your Home Even Before It’s Built………………….. 47
Chapter Eight: Investing Fundamentals ………………….. 49
Why You Should Invest…………………. 50
Determine Your Risk Tolerance ………………….. 51
Determining Where You Will Invest ………………….. 53
How Much Money Should You Invest? ………………….. 55
Chapter Nine: Varieties of Investment ………………. 57
Types of Bonds ………………….. 58
Understanding Bonds ………………….. 59
Types of Stocks ………………….. 60
When To Sell Your Stocks ………………….. 61
Online Trading ………………….. 62
Chapter Ten: Your Investment Strategy ………………….. 64
The Importance of Diversification………………….. 65
How to Choose a Broker ………………….. 66
Avoiding Mistakes ………………….. 67
Investing in Your Future ………………….. 68
Chapter Eleven: Retirement, Your Golden Years……………. 69
Plan Ahead, Start Now ………………….. 70
Hidden Value in Your Life Insurance………………….. 71
Chapter Twelve: Your Financial Legacy…………………. 73
Teach Your Children Well………………….. 73
In Closing …………………. 74
Appendix: Selected Resources ………………….. 75
The Major Credit Bureaus ………………….. 75
Budgeting ………………….. 75
Credit Reports and Scores………………….. 75
Debt Reduction ………………….. 76
Credit Repair ………………….. 76
Identity Theft Protection ………………… 76
Mortgage Loans ………………….. 76
Home Insurance ………………….. 76

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Greetings – What to Expect From This Book

Dear Friend,

Congratulations on making your wise decision to invest in this manual! You definitely know that the best person on the planet to take care of your personal finances is none other than yourself!

We’ve all been told to take things one day at a time, and this is of course the best way to live. Unfortunately, many people think that the ‘one day at a time’ theory includes their financial standing and future – and it doesn’t.

When it comes to money, you really can’t take things one day at a time. You must look ahead to the future, set financial goals, and then create a plan to reach those goals. Once that is done, you start meeting those goals – one day and one step at a time.

Don’t make the mistake of thinking that you will ‘cross that bridge when you come to it.’ You must be fearless and careful in looking after your money, or you will find that you will never reach your goals. You must look ahead and see where those bridges are, and start working out how you will cross them long before you get to them!

When you finish your education and go to work, you must look ahead to when you will marry. When you marry, you must look ahead to when you will buy a home and have children. You must look ahead to your child’s education and their wedding, and you must look ahead to your own retirement – even if it is fifty years away! All of this takes money, and it is money that you need to start gathering right away…not on the day that you need it.

In order to plan your financial future successfully, you really must make a basic plan for your life. That plan will most definitely change over the years, but the main parts won’t change. For instance, the chances are very good that you will marry and have children. You will almost definitely reach a point where you want to purchase a home. If you have children, they will absolutely need to be educated, and will most likely marry. You will definitely want or need to retire at some point. Those things are not likely to change in your life’s plan.

So, think ahead through the coming years of your life, and make a financial plan that will help you obtain your goals. The rest of life, with all of it’s up and downs can then be taken in stride – one day at a time.