can do it TO DO LIST <p><a href=httpscorbinalexanderwealthguidancetumblrcompost173631157384corbin-alexander-weallth-guidance-posted class=tumblr_blog>corbinalexanderwealthguidance<a><p><blockquote> <p><b>CORBIN ALEXANDER WEALLTH GUIDANCE <b>POSTED 05062018<b><b><p> <p><b>STARTING OUT FROM SCRATCH – <b>POST #1 IN MY SERIES<b><b><p> <p><b>BUDGETING<b><p> <p>503020RULE<p> <p>For the person already living life this is an essential rule of thumb<p> <p>- 50% to <b>Needs<b> utilities rent food car insurance <b>never buy a car on creditpayments and be <b> <b>required to pay collision coverage only buy a used 3-8 years old HondaKiaToyota for the best valuebang for your buck<b> gas <b>clothes allowance<b> etc Essentials needed to live!<p> <p>- 20% to <b>Savings &amp Investment<b> used to pay bank loansstudent loans monthly deposits into a retirement account and an investment account credit card payments pay off the entire balance each month and not just the minimum payment to avoid paying interest on interest = that’s what eats you alive causing you to <b>NEVER<b> pay off the balances and never buy stuff from FingerhutRent-A-Center or the like…the interest on this stuff is outrageous and you pay 3x-5x what the item is actually worth in the end – if you ever get to the end of the payments!<p> <p>- 30% to <b>Wants<b> vacations limit one per year – do day trips for the other week taken on paid vacation benefits and future “Wants” such as saving for a house if you need the monies in less than 5 years then bank it – if you need the monies in over 8 years then invest it that is the industry rule of thumb when it comes to “<b>Wants<b>”<p> <p>Two methods to keep you on track<p> <p> - The spread sheet method this is where you track your budget in MS Excel<p> <p> - The envelope method this is where you assign envelopes labeled by each expense <p> <p><b>EMERGECY FUND <b><p> <p>This where you have a bank savings account holding a minimum of six months of expenses to pay “<b>all<b>” your monthly bills in the event of a job lose or an illness you are <b>NEVER<b> to dip into this unless you are in a dire straight situation <p> <p><b>Establish this fund FIRST before all other suggestions are followed<b><p> <p><b> <b><p> <p><b>SAVINGS &amp INVESTMENT <b><p> <p>- Start saving for an emergency fund first<p> <p>- <b>Do not<b> use the Overdraft protection feature on your bank debit card = avoid getting into the habit of paying Overdraft charges over and over again! But do have it on the account – in the event of an emergency = like your car breaks down etc and avoid using a credit card and carry a balance<p> <p>- Start an investment account at Allycominvest and invest in my Model ETF Portfolio that I’ll outline at a later date…<b>stay tuned<b>!<p> <p>- Start investing in my ”<b>ALL PURPOSE<b>” Model Mutual Fund Portfolio starting in your mid-50’searly 60’s<p> <p>- Start investing in my designated Model Mutual Fund 80+ Portfolio in your 80’s exact allocation percentages to also be revealed at a later date!<p> <p><b>CREDIT CARDSBANKING MANAGEMENT<b><p> <p><b> <b>- Establish a credit history at 18 years old before working a full-time 9-5 or going to college now is the time to obtain a pre-paid debt card through <b>Capital Onecom<b> or a similar lender And do not forget to get a small personal loan $100000 minimum at a <b>local bank<b> using a co-signer to qualify for the loan<p> <p> As you <b>SLOWLY<b> establish a credit history apply for a no-feelow credit limit card through <b>Discovercom<b> andor <b>Capital Onecom<b><p> <p><b> <b><p> <p><b>HAVE YOU RUN UP YOUR CREDIT CARDS TO THE MAX AND DROWNING IN DEBT OVERALL? – CONSIDER CLAIMING BANKRUPTCY AND START OVER – JUST BE CAREFUL DON’T SCREW UP AGAIN LIKE THE LAST TIME<b><p> <p><b> <b><p> <p>- Earn interest in an interest-bearing savings or CD account<p> <p> Not all banks are created equal which is why most are banking wrong <p> <p> <b>BANK OF AMERICA<b> This is a “fee city” bank You name it they have a fee attached<p> <p><b>TD BANK<b> This is a bank with convoluted morals Good luck banking in this environment more horseshit then you can shake a stick at! <p> <p> - If your balance falls below $10000 at TD at any given time during the month they hit you with a $1500 low balance fee $18000 a year!<p> <p><b>You are better off going to a local bank or a federal credit union for your banking needs<b><p> <p>BE ON THE LOOKOUT FOR MY NEXT SERIES INSTALLMENT POST ON 632018!<p> <blockquote> Meme











found @ 36 likes ON 2018-05-25 20:54:21 BY

source: tumblr