can do it TO DO LIST corbinalexanderwealthguidance CORBIN ALEXANDER WEALLTH GUIDANCE POSTED 05062018 STARTING OUT FROM SCRATCH – POST #1 IN MY SERIES BUDGETING 503020RULE For the person already living life this is an essential rule of thumb - 50% to Needs utilities rent food car insurance never buy a car on creditpayments and be required to pay collision coverage only buy a used 3-8 years old HondaKiaToyota for the best valuebang for your buck gas clothes allowance etc Essentials needed to live! - 20% to Savings Investment 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 NEVER 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! - 30% to Wants 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 “Wants” Two methods to keep you on track - The spread sheet method this is where you track your budget in MS Excel - The envelope method this is where you assign envelopes labeled by each expense EMERGECY FUND This where you have a bank savings account holding a minimum of six months of expenses to pay “all” your monthly bills in the event of a job lose or an illness you are NEVER to dip into this unless you are in a dire straight situation Establish this fund FIRST before all other suggestions are followed SAVINGS INVESTMENT - Start saving for an emergency fund first - Do not 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 - Start an investment account at Allycominvest and invest in my Model ETF Portfolio that I’ll outline at a later date…stay tuned! - Start investing in my ”ALL PURPOSE” Model Mutual Fund Portfolio starting in your mid-50’searly 60’s - 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! CREDIT CARDSBANKING MANAGEMENT - 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 Capital Onecom or a similar lender And do not forget to get a small personal loan $100000 minimum at a local bank using a co-signer to qualify for the loan As you SLOWLY establish a credit history apply for a no-feelow credit limit card through Discovercom andor Capital Onecom 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 - Earn interest in an interest-bearing savings or CD account Not all banks are created equal which is why most are banking wrong BANK OF AMERICA This is a “fee city” bank You name it they have a fee attached TD BANK This is a bank with convoluted morals Good luck banking in this environment more horseshit then you can shake a stick at! - 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! You are better off going to a local bank or a federal credit union for your banking needs BE ON THE LOOKOUT FOR MY NEXT SERIES INSTALLMENT POST ON 632018! Meme











found @ 27 likes ON 2019-03-01 00:22:27 BY

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