SHARP CASH FOR YOU February 15, 2010 Your biggest ﬁnancial challenge is to make sure you have the money you need to pay all your monthly expenses. But do you know how much money? Invest in the known before the unknown By Francilia Herrera It’s easy to get confused about The ﬁrst step is to ﬁgure out It has been noticed that what you do with your money, very carefully just how much are ﬁnancing reliable people expend especially when the expenses are your expenses. For one year, you more time in every purchase. more than the income. Or maybe have to commit yourself to record They save the receipt of their you are having a good time in all your expenses. purchase, too your ﬁnancial life and your Divide your expenses en So please ﬁle every receipt of liabilities are growing, instead of categories. Before you start to your purchases to keep track of protecting your patrimony, you track your expenses, divide a draw how much you are expending. are getting deep in debt and in your desk into nine folders: Then put this receipt in a making wrong ﬁnancial decisions. God folder. Every month you should All requires honest work, but Savings have a folder with the receipt honesty is all that it takes. Make a Tax going to one of each of these nine note that “ﬁnancing” is part of Housing categories. God, Savings, Tax, your life and can not be separated Household Housing, Household, Car, Health, from you. Car Insurance and Fun. So let’s start working on your Health What goes in detail in every ﬁnances: Insurance category? here we go! 1.-Know your expenses. Fun Let’s see this by categories: 1 BUDGET 101 know your income... know your expenses... The category of “God” goes ﬁrst. In here make a donation for charity, all that will help to make this world a better place. You will see how when you put God ﬁrst in your ﬁnances, all the structure of your ﬁnancial life start to form. Second “Savings” this is where you can save a minimum sum as small of $10 per month and place it in an investment vehicle to grow. Take this sample, $30 per month, at 15% compound interest rate, gives you, $48,947,827 millions in 70 years... do not under estimate the power of savings! and you may ask, where can I ﬁnd a %15 compound interest rate? the answer is Real State does this for you. “Taxes” is all that you will pay to the government. It is important that you get familiar with the law and also all the beneﬁts and credits available for you. “Household” contains expenses like food Phone / Cable If this is the only thing you Home system can do to Home improvement improve your Utilities ﬁnancial life, you Spirits and beverages are really in Veterinarian/pet good path... Clothes/shoes/accs Dry cleaing Hair/hands/make up SHARP CASH SOLUTIONS LLC. Children education firstname.lastname@example.org Job training educ “Fun” has expenses like: Legal Entertainment Safe Deposit Box Restaurants P.O. services Video rental Technology Movie Theater “Car” contains expenses like: Recreation Education Auto Gifts Tire Birthdays Repair Lotery Gas Hobbies Transportation Seasonal expenses Parking/tolls Travel Based on this categories you will add your owns. But start “Health”contains expenses like with this tracking system, as soon as possible. Doctor's co pay ment Pharmacy If this is the only thing you can do to improve your Medical ﬁnancial life, you are really in good path. Dental What happen if you do not have money to cover one of Optometry the category? Put in there the amount of money that you need. To recognize how much money do you really need, and “Insurance” has expenses like you will see how you will train your self to recognize the opportunities that will aloud you to cover this expense. Car Insurance An the most important of all advise: HAVE FAITH! IT Life Insuranse CAN BE DONE!