How to really have a SOLID financial condition for ourselves and family. Many people work very hard but than realized that it just did not work to make their financial condition SOLID.
in today’s world of speed and economic uncertainties can make even a government become bankrupt. What we can do for ourselves in making sure that our financial condition is SOLID.
Than follow AbangAbu’s tip on making your financial condition SOLID. Lets get S.O.L.I.D as MOUNT EVEREST
S = Start Educating.
Do start to learn about money, investing and things related to finance. GO for workshops, attend talks, get books , talk about it in the family, mix with people who are directly involved in financial world like bankers , insurance , accountants to understand financial words too. Check my blog for lots of tools that can help.
O= Open emergency account
Open an emergency account if you dont have one. And if you have please never use the money unless for real emergency that you can decide for yourself. Discipline in doing and maintaining this step is immediate. And make sure that you have a goal of having at least 6 months or your monthly expenses in this account. This is key. the best will be 24 months. However please have a goal of 3 months if you have not anything yet.
L – Learn to Give
Make this a compulsory thing on a monthly basis. Set a side a percentage of your income to be given away. There will be no logic to explain on how multiplication will work in giving However what you give return to you in multiple fold. How this happen? Its is just the LAW of Nature. So stick to it. it can be as little as 1 dollar that can make your finances SOLID.
I = Insure
Protect yourself from insurance. Get an insurance planner to give you some idea on how to insure. If you struggle at least a term insurance that can be a protection for you and your family. Also insure your home and other valuable assets.
Always based on the income that you can afford and dont get into unneccsssry insurance plans or policies
D – Dedicated Contribution on Investment
There must me a plan that you create to consistently invest for your future. The plan must be set up in a way the investment can be contributed continuously and only plan for your old days and future.
I am sure that this will be the SOLID steps on making your Finance in a SOLID condition.
So get SOLID by attending my Investments for Beginners
