Wednesday, June 6, 2007

A 10 Step Financial Preparedness Plan

Wanna be prepared for financially trying times?
  1. Always carry $200 in your wallet
  2. Keep a few months worth of expenses, in cash, in your home (preferably in a fire-proof safe).
  3. Pay off all consumer debts.
  4. Be sure that you are adequately insured (life, home, auto, disability, etc).
  5. Have other sources of income aside from your regular job (ie: own rental property, have an online business, have a side business, freelance your skills, EBay, etc).
  6. Live below your means and save a significant portion of your income.
  7. Protect yourself from scams, rip-offs and identity theft.
  8. Have a variety of investments.
  9. Always have an employable, up-to-date, skill set.
  10. When you have reached a level of financial security, keep it to yourself and don't make it public knowledge that you are so well off.

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