Financial Margin

[Financial Margin @MarginFinancial]

Use these categories to find your ideal career:
1. Passion (Do I love doing it?)
2. Proficiency (Am I good at it or qualified?)
3. Provision (Is there an opportunity to generate income?)

[Financial Margin @MarginFinancial]

The leading cause of bankruptcy comes from people who are uninsured or underinsured.

[Financial Margin @MarginFinancial]

3 steps to creating a defense for your money:

1. Create a budget
2. Create an emergency fund
3. Make sure you are properly insured

[Financial Margin @MarginFinancial]

Budgeting = Peace of mind

The sooner you know where your money is going, the quicker you'll be able to create [Margin] in your life.

[Financial Margin @MarginFinancial]

Don't begin saving for retirement until you have at least 3-6 months of living expenses saved for a rainy day.

[Financial Margin @MarginFinancial]

The 80/20 rule when it comes to your money:
80% goes to your living expenses
20% goes to your savings

[Financial Margin @MarginFinancial]

The 50/30/20 rule when it comes to your money:
50% goes to your NEEDS
30% goes to your WANTS
20% goes to your SAVINGS

[Financial Margin @MarginFinancial]

The 1st step in calculating your net worth is finding the TOTAL value of your assets. Some examples of your assets are your:
1. Home
2. Vehicle(s)
3. Household items
4. Retirement accounts, cash, Bitcoin, etc.

[Financial Margin @MarginFinancial]

The best months to sell your car are February or December!

[Financial Margin @MarginFinancial]

Depreciation is an example of a ghost expense because many don't realize it until they sell the vehicle.

It's important to buy vehicles that depreciate the least.

[Financial Margin @MarginFinancial]

Consolidating debt into a singular loan doesn't change the habits that got you there in the first place.

[Financial Margin @MarginFinancial]

Your financial decisions will reflect the financial habits of the people you are closest with.

[Financial Margin @MarginFinancial]

Your current reality is a culmination of all the decisions you have made up until this point. It's time to take control of your finances.

[Financial Margin @MarginFinancial]

Are your different environments positively or negatively affecting you? Think about your current situation and see if anything may be holding you back from hitting your goals.

[Financial Margin @MarginFinancial]

70% of Americans are living paycheck to paycheck simply because they don't have a budget. THIS is why having a plan is important.

[Financial Margin @MarginFinancial]

Set these goals for building an emergency fund to give yourself a financial buffer:

1. $250 saved
2. $500 saved
3. $1,000 saved
4. 3-6 months of your living expenses saved

[Financial Margin @MarginFinancial]

Cash is NOT trash in a recessionary environment.

[Financial Margin @MarginFinancial]

3 examples of GOOD debt when used wisely:

1. Getting a Business Loan
2. Getting a Mortgage
3. Getting a loan to learn new skills

[Financial Margin @MarginFinancial]

The financial choices of your friends have a significant impact on your own financial situation, so it's important to surround yourself with people who make wise financial decisions.

[Financial Margin @MarginFinancial]

Regularly evaluate your current health insurance based on these four key areas:

1. Cost
2. Coverage
3. Risk Tolerance
4. Accessibility