TDBell Enterprises, Inc. - Individual Services

TDBell Enterprises, Inc. - Individual Services: "

Individual Planning
Getting Started

There are a few things a person needs to do to begin to become financially independent, they are:

1. KNOW what you spend and how you are spending.
2. Have a 'must have list' and a 'nice to have list'.
A. Buy from the 'must have list' at the cheapest location available, and ask for discounts.
B. Buy from the 'nice to have list' only when you have 6 months of expenses in the bank, and 3 times the amount of the item saved as well.
3. With each income source you have, place 10% immediately into a savings or investment plan.
A. You should have 6 months of monthly expenses in an interest bearing savings account that is used ONLY for monthly expenses. Fill this account back up each month after you pay that month's expenses.
B. You should have a separate interest bearing account for your 'must have list' and 'nice to have list'.
4. The next 10% of each income source should go to a charity or good cause of your choosing. (This should be an income tax reducing cause.)
5. Set up a Living Trust. Place your possessions in the trust.
6. Buy your house. Be creative in your purchase. (Real Estate is one of the best ways to increase your wealth, take the first step and own your home. ANYONE can buy a house if you are creative in your purchase!)
7. Buy more real estate as you can. Again, be creative in your purchases.
8. Invest in Stocks, Bonds, or Mutual Funds.

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