Submitted by: adrienne kearney(45) the finance lady Log in to become a member of adrienne kearney's Fan Club!
“Money Answers all Things" It’s a biblical principle and concept that is relevant in every culture, country, business, relationship, and household. Money is dynamic. It moves and causes things to happen.
How we manage money determines the quality of life, the decisions that are made, the choices that are available and level of freedom and comfort one is afforded.
“If only we had some money." How many times have you uttered these words in desperation, feeling trapped for lack of options.
Money Management. To direct (money) to control (money) to direct (money) affairs to succeed. That’s how’s Webster defines “manage."
If you had the ten (10) basic rules of Money Management would you follow them if they lead you to successes, peace of mind, solvency and adequacy? What if you could start here and end up with excellent credit, savings and reserves, favorable mortgage financing terms, sound investments, peace of mind, and met opportunities.
Here are the basic rules:
#1) Plan- Plan for the future, major purchases & periodic expenses
#2) Set financial goals-Determine short and loan term financial goals
#3) Know your financial situation-Determine monthly living expenses, periodic expenses and monthly debt payments. Compare expenses to monthly income. Be mindful of your total indebt ness
#4) Develop a realistic spending plan-Follow your budget as closely as possible. Evaluate your budget. Compare actual expenses with planned expenses.
#5) Don’t live above your means-Avoid paying the minimum on your charge cards, don’t charge more every month that you are repaying to your creditor, avoid paying bills late to avoid expensive late fees and interest
#6) Save-Pay yourself first. Save at least 10% of your net income with each increase. Target at least 3 to 6 months salary in an emergency fund
#7) Pay bills on time-Maintain good credit
#8) Use credit wisely- Use credit for safety, convenience, and planned purchases. Keep credit payments under 20% of your net income
#9) Keep a record of daily expenditures- Be mindful of where your money is going. Use a spending diary to assist you in identifying areas where adjustments need to be made.
#10) Determine the difference between wants and needs- Take care of needs first Follow the rules to avoid the consequences of lack & inadequacy, to effectively manage the money that you earn, avoid high interest rates on financing especially mortgage financing, to secure for yourself and family the peace of mind that comes from managing perhaps the most dynamic component in the world and all economies big and small.
About The Author
Adrienne Kearney is a seasoned mortgage professional whose areas of expertise include Mortgage Origination, Sales Training, Contract Processing, and Credit Counseling. She is considered an exceptional trainer of entry level mortgage professionals seeking to gain knowledge of the mortgage financing/real estate industry. She devotes her professional efforts to educating and informing comsumers in the processes of securing mortgage financing and protecting their investment. "Where integrity Matters." She can be reached at her office @ 404-748-4169 or visit the website @ http://www.thefinancelady.com or email @ adriennekearney@thefinancelady.com
» left by spencer williams from atlanta ga (2 years 138 days ago.)
Good reading. Basics steps that we all should follow. Thanks for the encouragement and prescribed steps. Most problems in my life are money problems. Respond to this comment
» left by Lori bolden from Houma, LA (129 days 6 hours ago.)
Where did you come up with the topic? What motivated you? Are you a christian or a bible reader? I just wrote a song titled this and it was in the newspaper a few weeks ago.
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