Tag Archives: emergency savings fund

What If You Could Make Your Kids Wealthy?


A friend recently said these words to me about his kids, “I wish I could fix it for them.” He wasn’t talking about person finance, but all of us who have children think about or hope that our children will be able to do better than we have ourselves. Yet, we live in a time where that looks less and less possible.

Here’s the good news: It is possible for your children to do better than you, but you have to give them the gift now.

The gift is experience with personal finance – before they start having the experience with credit card companies, kids of their own and that boss at work you just can’t like no matter what.

Start by getting everyone together at the family kitchen table. Tell them how it works. Show them what is important to you. Set a family plan together to save regularly and invest regularly. Make sure they know what is important.

Debt is the #1 killer of wealth-building in the middle class (especially credit card debt).

Let your children help brainstorm ideas on building a “higher” emergency savings fund (we recommend 15 to 18 months of expenses in money market savings and certificates of deposit).

Show your children that reducing debt and then eliminating debt is critical to jump-start the rest of your financial life.

Make sure they know the truth from the lies.

Here are some examples:

The money in your checking account is a money laundering account for other people’s money. Use any excuse to pull money from checking and push it to savings. That’s the truth.

It’s not what you make in your paycheck that counts; it is what percentage of your after-tax income is being saved and invested. That’s the truth.

Credit card companies want you to know how easy it is for you to have it all; this is the biggest lie of all.

Finally, build cash reserves and reduce and pay off debt. Your credit score becomes less important (and improves the most) when you have piles and piles of C-A-S-H. That’s because cash is king.

If your children don’t know what is important in personal finance, they will start out BEHIND like you and I.

Brainstorm with your kids about how to find extra money to invest outside of your ordinary income.

You can do this.

HELPING YOUR KIDS GET AHEAD

If you think I was born saving money, you are wrong. My own family didn’t believe in saving. They don’t believe in having a 401k. They have had “emergencies” all their lives. These emergencies always get in the way of saving money regularly. I was not brought up to save and invest regularly and I have made every mistake you can think about when it comes to money. My parents thought they were shielding me from the realities of bills and worry. In fact, they were isolating me. I learned nothing until I had made many of the mistakes they made. I have had to learn the absolute hard way how to get savings on track and make it a part of your life without killing your lifestyle. I have had to learn the hard way how companies mislead with marketing. It is my mission to share what I have learned about regularly saving with my own children and also share it with you. That’s why we have a lot of “free” (blogs like http://www.boostmywealth.wordpress.com and http://www.stickyasset.com/blog and groups on Facebook like “Coupons & Coupon Codes”)!

In this country we don’t do enough to teach our children about money, managing money, saving regularly (and automatically), compound interest and steady investing for a long-term future. As a parent, we are always concerned that they get a good education and go to a good college so they can make a lot of money or have a valued career path. The truth is that we could do our children the biggest favor and one of the best things by sharing with them sound saving and investing principles.

You can join our free Facebook group (or have your children do it, too) by searching in the Facebook bar on your “wall” for “Live The Lifestyle Your Family Deserves.” Click on “become a fan.” It’s free and it ties our free blogs into that group.

If you want to give your children the same information we are giving ours, you can purchase the only thing we sell on any of our blogs or groups. It’s called “How To Survive Any Financial Crisis” and you can get it for only $4.95 at http://www.middleclassmoney.com.

Thank you for reading our blog and good luck!

Loyd Ford
http://www.stickyasset.com/blog
http://www.middleclassmoney.com
http://www.boostmywealth.wordpress.com
http://www.squidoo.com/boostmywealth
http://www.stickyasset.com

Connect with us on Facebook with these free groups:
“Coupons & Coupon Codes”
“Live The Lifestyle Your Family Deserves”
“Saving Money”
All on Facebook – join. It’s free.

Why Try So Hard To Save & Invest Now


Oh, why do we try so hard to get rich quick when being patient and having a plan will almost guarantee wealth-building?

We love the flat screen TVs and iPads. What about regular money market savings built from a percentage of each paycheck you deposit in your checking account?

We love going out to eat, but what about a regular monthly DRIP with your favorite dividend producing stock?

We like going to concerts and events and spending $14 dollars on a beer, but what about a regular contribution to a mutual fund every time you get paid?

We like to focus on how much we earn, but isn’t the real power how much of each paycheck we save?

We all love to identify with how much is in our checking account, but what if it’s true that your checking account is just a MONEY LAUNDERING ACCOUNT FOR OTHER PEOPLES’ MONEY!

People who develop a plan and stick to it become wealthy.

People who learn tricks to save more and invest regularly have more options for their family and have a potentially much easier life.

Are you ready to step up, develop your own plan and grow emergency savings? We recommend you work to build 15 to 18 months of expenses in your emergency savings fund (It’s 2010, you may need every penny).

The economy is not what it used to be. If you don’t have a plan, check out our past blog entries here and at http://www.stickyasset.com/blog or check out “How To Survive Any Financial Crisis” at http://www.MiddleClassMoney.com and pass it on to those you love and care about today.

You can take control and your savings and investments will grow faster than you think!

HELPING YOUR KIDS GET AHEAD

If you think I was born saving money, you are wrong. My own family didn’t believe in saving. They don’t believe in having a 401k. They have had “emergencies” all their lives. These emergencies always get in the way of saving money regularly. I was not brought up to save and invest regularly and I have made every mistake you can think about when it comes to money. My parents thought they were shielding me from the realities of bills and worry. In fact, they were isolating me. I learned nothing until I had made many of the mistakes they made. I have had to learn the absolute hard way how to get savings on track and make it a part of your life without killing your lifestyle. I have had to learn the hard way how companies mislead with marketing. It is my mission to share what I have learned about regularly saving with my own children and also share it with you. That’s why we have a lot of “free” (blogs like http://www.boostmywealth.wordpress.com and http://www.stickyasset.com/blog and groups on Facebook like “Coupons & Coupon Codes”)!

In this country we don’t do enough to teach our children about money, managing money, saving regularly (and automatically), compound interest and steady investing for a long-term future. As a parent, we are always concerned that they get a good education and go to a good college so they can make a lot of money or have a valued career path. The truth is that we could do our children the biggest favor and one of the best things by sharing with them sound saving and investing principles.

You can join our free Facebook group (or have your children do it, too) by searching in the Facebook bar on your “wall” for “Live The Lifestyle Your Family Deserves.” Click on “become a fan.” It’s free and it ties our free blogs into that group.

If you want to give your children the same information we are giving ours, you can purchase the only thing we sell on any of our blogs or groups. It’s called “How To Survive Any Financial Crisis” and you can get it for only $4.95 at http://www.middleclassmoney.com.

Thank you for reading our blog and good luck!

Loyd Ford
http://www.stickyasset.com/blog
http://www.middleclassmoney.com
http://www.boostmywealth.wordpress.com
http://www.squidoo.com/boostmywealth
http://www.stickyasset.com

Connect with us on Facebook with these free groups:
“Coupons & Coupon Codes”
“Live The Lifestyle Your Family Deserves”
“Saving Money”
“The Money Store”
All on Facebook – join. It’s free.

The Unexpected Always Happens


The unexpected always happens. It is wrong to think it won’t.

Jobs go away. Industries shrink. Debt gets out of control and your family can quickly face a harder future than anyone thought just a few short years before.

Millions of American families are often not ready for hard times, but hard times do come.

Many Americans have been on a gifted path for a long time. Seemingly gone were the days of the talked about “Great Depression.” It seemed that house prices would always go up and there would always be a market pushing values higher and higher. Jobs and innovation seemed to spring from the U.S. and it seemed the good times would never end…until 2007.

Financial messes. Foreclosures. Job loss. It has been a mess for the rich, but the not rich are much worse off. No one will bail us out. We must do what the best Americans have always done: Pull ourselves up by our bootstraps and get rollin’. The only way to do that is to develop your on regular and steady plan for saving and investing out of each and every paycheck your family receives.

There is real worry about jobs, economy, world commerce and the so called “free trade” that ties the world’s countries closer and closer to each other. I remember the days of old when they talked about America leading the world. That has now been replaced by language about protecting the levels we see today.

National debt is out-of-control and many households are flush with debt of all kinds. This debt is the #1 killer of wealth-building in the middle class. When you hear people talking about the middle class going away, that means all these families with debt will fall faster and harder in the near future than you might think.

We must attempt to encourage families in the United States to develop a low debt or even free-of-debt philosophy.

How do you start on a path to no debt?

If you have a job today, you should understand that saving regularly out of your paycheck before it settles into a checking account is essential. Saving money regularly is not optional.

Saving money out of each paycheck when you get paid is not optional (notice this is repeated). People who think that is true will easily fit into a new class of American population: The recently unemployed and troubled former middle class.

If you have to begin with our 1% Savings Plan, do that. It will allow you to begin saving very small amounts and grow those amounts over the course of a reasonable period of time into appropriate amounts of regular savings. Read our previous blogs on the 1% Savings Plan or check it out at http://www.MiddleClassMoney.com.

You should have or be working toward the proper emergency savings fund for today’s world: That is 15 to 18 months of your family expenses in actual money market savings and certificates of deposit.

Once you have your emergency savings underway, you should get your family together and focus on the twins of wealth-building as a family:

1. Reduction and elimination of debt.

2. Investing in assets on a regular basis.

You should participate in your company 401k regularly if it is available to you.

You should begin investing in a Roth IRA regularly.

Your checking account is not really your money. People who focus on how much money they make or how much money is in their checking account are lost souls.

These blogs are not for fun – if you have a job and things are good, sooner or later you will have temporary lulls in good happenings. If you develop your steady plan now, the future will take care of itself. You can build savings and then wealth, but you must begin now.

Focus on what percentage of your regular income you are saving on a regular basis. If you are not saving today, you must begin.

By focusing on saving and investing regularly with your entire family, you will make sure your goals are clear and everyone works together to achieve important financial goals for your family, but you will also let your children know that regular saving and investing is both important to you as the parent and essential as a “normal” part of life. This will protect your children long after you are sitting at the kitchen table together.

You’ve heard time is money. Money is options for your family. Get to work. Start right now. The family you save will be your own.

HELPING YOUR KIDS GET AHEAD

If you think I was born saving money, you are wrong. My own family didn’t believe in saving. They don’t believe in having a 401k. They have had “emergencies” all their lives. These emergencies always get in the way of saving money regularly. I was not brought up to save and invest regularly and I have made every mistake you can think about when it comes to money. My parents thought they were shielding me from the realities of bills and worry. In fact, they were isolating me. I learned nothing until I had made many of the mistakes they made. I have had to learn the absolute hard way how to get savings on track and make it a part of your life without killing your lifestyle. I have had to learn the hard way how companies mislead with marketing. It is my mission to share what I have learned about regularly saving with my own children and also share it with you. That’s why we have a lot of “free” (blogs like http://www.boostmywealth.wordpress.com and http://www.stickyasset.com/blog and groups on Facebook like “Coupons & Coupon Codes”)!

In this country we don’t do enough to teach our children about money, managing money, saving regularly (and automatically), compound interest and steady investing for a long-term future. As a parent, we are always concerned that they get a good education and go to a good college so they can make a lot of money or have a valued career path. The truth is that we could do our children the biggest favor and one of the best things by sharing with them sound saving and investing principles.

You can join our free Facebook group (or have your children do it, too) by searching in the Facebook bar on your “wall” for “Live The Lifestyle Your Family Deserves.” Click on “become a fan.” It’s free and it ties our free blogs into that group.

If you want to give your children the same information we are giving ours, you can purchase the only thing we sell on any of our blogs or groups. It’s called “How To Survive Any Financial Crisis” and you can get it for only $4.95 at http://www.middleclassmoney.com.

Thank you for reading our blog and good luck!

Loyd Ford
http://www.stickyasset.com/blog
http://www.middleclassmoney.com
http://www.boostmywealth.wordpress.com
http://www.squidoo.com/boostmywealth
http://www.stickyasset.com

Connect with us on Facebook with these free groups:
“Coupons & Coupon Codes”
“Live The Lifestyle Your Family Deserves”
“Saving Money”
“The Money Store”
All on Facebook – join. It’s free.

The Powerful Formula To Save Money & Boost Actual Wealth


A lot of people feel they cannot save money based upon what they make (income) and what they spend (bills). The truth is that you can use specific strategy to overcome these issues and begin building savings so you have a proper emergency savings fund for 2010 (15 to 18 months of expenses in money market savings and certificates of deposit). By not allowing yourself to be overwhelmed and developing your own strategy, you can make HUGE headway in building savings and eventually wealth.

A Formula That Will Work For Your Family

The formula for getting ahead begins with looking at your expenses and removing emotion from why you spend money.

Begin by looking at everything you spent over the last 90 days.

Separate what you pay in “hard bills” (mortgage or rent, electricity) and “other spending” (shopping or Starbucks coffee).

The idea is simple for this kind or review on actual spending. Begin with the end in mind. Our philosophy is to set a goal of reducing your overall spending by 10 – 15%. To do this, you will have to be open-minded and you will also have to use your creativity. However, this goal can be reached only by removing emotion and focusing on the reduction of spending by 10 – 15%. Keep in mind that you should be open to suggestions when you begin calling the people who send bills to your home. Tell them you must reduce your bill by 15%. Be prepared to talk to a supervisor (who has more power to “cut a deal”) and be willing to call back every 3 days until you see some firm results. Any percentage they drop your bill should be added to your REGULAR and AUTOMATIC savings plan. If they give you 5 – 7%, that is 5 – 7% of new savings beginning the very next month. As long as you take that savings to actual savings….you will be participating in getting ahead.

Once you have called every single business that sends a bill to your house and negotiated to find a way for you to reduce what you pay to them, you will also want to look at the other spending with the same effort in mind. In other words, your goal should be to reduce your spending by 10 – 15% each month. You can do it if you remove the emotion, set the goal and work toward it. However, it is very important to use these “savings” to produce yourself and your family with a “bill” each month for savings that is paid before any other bill or spending.

Another Helpful Way To Boost Savings

Use our “1% Savings Plan.” We especially recommend that you use this plan AFTER doing the exercise above.

Take your very next paycheck. Look at the after-tax amount of that paycheck. Multiply the after-tax amount by .01. This represents 1 percent of your after-tax income. Take that amount – 1% – and push it to savings.

The next time you get paid after that, change the percentage or the multiple to .02. Take that amount to savings.

The paycheck after that, take the number to .03. Take that money to savings.

Keep doing this with each after-tax paycheck you receive until you reach 15%. Make sure you are doing this with each paycheck. You will be shocked and amazed at how quickly this adds up and gives you the savings you need in today’s economy and the one to come.

Want more details? Go to http://www.MiddleClassMoney.com and check out “How To Survive Any Financial Crisis.” It is the only thing we sell on our blogs or websites and it is only $4.95. If you really want to save your family and boost your savings and eventual investing (so your money works for you), this $4.95 is a great deal without question.

Our goal is to always be helpful to other families like ours. You can do this. It is your economy. It is your family, and the only recovery that matters is the one at your house.

HELPING YOUR KIDS GET AHEAD

If you think I was born saving money, you are wrong. My own family didn’t believe in saving. They don’t believe in having a 401k. They have had “emergencies” all their lives. These emergencies always get in the way of saving money regularly. I was not brought up to save and invest regularly and I have made every mistake you can think about when it comes to money. My parents thought they were shielding me from the realities of bills and worry. In fact, they were isolating me. I learned nothing until I had made many of the mistakes they made. I have had to learn the absolute hard way how to get savings on track and make it a part of your life without killing your lifestyle. I have had to learn the hard way how companies mislead with marketing. It is my mission to share what I have learned about regularly saving with my own children and also share it with you. That’s why we have a lot of “free” (blogs like http://www.boostmywealth.wordpress.com and http://www.stickyasset.com/blog and groups on Facebook like “Coupons & Coupon Codes”)!

In this country we don’t do enough to teach our children about money, managing money, saving regularly (and automatically), compound interest and steady investing for a long-term future. As a parent, we are always concerned that they get a good education and go to a good college so they can make a lot of money or have a valued career path. The truth is that we could do our children the biggest favor and one of the best things by sharing with them sound saving and investing principles.

You can join our free Facebook group (or have your children do it, too) by searching in the Facebook bar on your “wall” for “Live The Lifestyle Your Family Deserves.” Click on “become a fan.” It’s free and it ties our free blogs into that group.

If you want to give your children the same information we are giving ours, you can purchase the only thing we sell on any of our blogs or groups. It’s called “How To Survive Any Financial Crisis” and you can get it for only $4.95 at http://www.middleclassmoney.com.

Thank you for reading our blog and good luck!

Loyd Ford
http://www.stickyasset.com/blog
http://www.middleclassmoney.com
http://www.boostmywealth.wordpress.com
http://www.squidoo.com/boostmywealth
http://www.stickyasset.com

Connect with us on Facebook with these free groups:
“Coupons & Coupon Codes”
“Live The Lifestyle Your Family Deserves”
“Saving Money”
“The Money Store”
All on Facebook – join. It’s free.

The Future Of Your Family Economy


Most people are worried about the day-to-day. Most don’t look at how things are changing in the United States and around the world. They are more concerned with how to get the kids to school on time and make sure they are taking care of the family.

However, taking care of your future and the future of your family is what this blog is all about, and this story of global change fits right in line with that discussion.

Shifts in manufacturing away from the U.S., the Chinese government has become the single largest holder of our debt around the world and countries like India and Brazil are experiencing the kind of growth the United States had from the 1940s – 1990s while the U.S. is slowing.

What does this mean in the new era where debt is a death sentence and cash reserves are king? It means that things are going to become more challenged. It means that headwinds are shifting and if you don’t prepare you will find things much more difficult than they are today.

Retirement age is going to shift upward, but where are the good jobs going to come from? More and more you are reading about people who had great paying jobs, lost them and couldn’t replace their incomes. They lost everything.

Other people have had great jobs, lost them and it has taken two (2) years to find a good paying job. Or worse – when they found work it was at half the pay they expected.

Meanwhile if you have a good job, chances are you are expected to do more for less. Productivity is up. Fear is up. However, you are stretched thinner and thinner while those at the top profit.

What about your family? What about your future?

Of course, you can prepare. You can create opportunity to sustain and get ahead in this economy. You can place yourself and your family in the path of securing a better future.

Imagine your job, your relationship with your boss, your family situation if you had 15 to 18 months of expenses in savings. You can do this. All it takes is regular savings with each paycheck.

You can’t get there, right? It’s too hard.

A lot of personal finance people say, “Pay yourself first.” Easier said than done, right? You can start with our “1% Savings Plan.” Have you heard this before? Let’s see.

Take your very next paycheck and multiply the after tax amount by .01. Take that amount and shift it out of checking to savings. The following paycheck, multiply your after tax pay by .02. Then, each paycheck after that you will increase the amount by an additional .01 until you reach .20.
Regular and steady savings is no longer an option. This is step one in your new plan to save your family.

You should have 15 to 18 months of expenses in emergency savings. It will strengthen your family, your options and give you better actual opportunity in the next ten plus years and more as our economy continues to shift and change.

We believe that there are three (3) keys to personal financial freedom for your family (and especially your children).

1. Regular and steady savings with a focus on increasing the amount you remove from checking and push to savings with each paycheck along with additional “saving” opportunities that will present themselves to you regularly if you continue to read this blog in future days.

2. Debt reduction (especially credit card debt). If you have not read our information on how to deal with credit card companies, we recommend that you dig back through our past blog entries or check out “How To Survive Any Financial Crisis” at http://www.middleclassmoney.com.

3. Regular purchasing of actual assets. We call this building “an asset train.” Trains go places; if you focus on purchasing true assets that generate slivers of value that add to the value of your holdings over time, you will be helping your family learn more about investing and you will potentially build wealth over time. Always do your research and if you don’t understand something….don’t do it.

Remember our favorite sayings: Checking accounts are money laundering accounts for other people’s money. Use any excuse to push money from checking to actual savings.

Credit card companies and merchants want you to believe credit is king. The opposite is true: Cash is the only king. We are no believers in chasing your credit score. While we don’t think you should forget about your credit score, we absolutely believe that marketing, merchants and the advertising world has pushed people to focus on credit too much. You are smarter to build assets and avoid debt as much as possible.

Get engaged in your own personal finance life. You can systematically build a plan that helps you build savings and eventually wealth. It only takes a little bit of time and a commitment to your family. You already have one of these.

As time goes by, those people with strong emergency savings, low or no debt and those who build assets will have a better life and more options. You can do this!

HELPING YOUR KIDS GET AHEAD

If you think I was born saving money, you are wrong. My family is filled with hillbillies from Louisiana. There are members of my family that don’t believe in 401ks or IRAs. I was not brought up to save and invest regularly and I have made every mistake you can think about when it comes to money. I have had to learn the absolute hard way how to get savings on track and make it a part of your life without killing your lifestyle. I have had to learn the hard way how companies mislead with marketing. It is my mission to share what I have learned about regularly saving with my own children and also share it with you. That’s why we have a lot of “free” (blogs like http://www.boostmywealth.wordpress.com and http://www.stickyasset.com/blog and groups on Facebook like “Coupons & Coupon Codes”)!

In this country we don’t do enough to teach our children about money, managing money, saving regularly (and automatically), compound interest and steady investing for a long-term future. As a parent, we are always concerned that they get a good education and go to a good college so they can make a lot of money or have a valued career path. The truth is that we could do our children the biggest favor and one of the best things by sharing with them sound saving and investing principles.

You can join our free Facebook group (or have your children do it, too) by searching in the Facebook bar on your “wall” for “Live The Lifestyle Your Family Deserves.” Click on “become a fan.” It’s free and it ties our free blogs into that group.

If you want to give your children the same information we are giving ours, you can purchase the only thing we sell on any of our blogs or groups. It’s called “How To Survive Any Financial Crisis” and you can get it for only $4.95 at http://www.middleclassmoney.com.

Thank you for reading our blog and good luck!

Loyd Ford
http://www.stickyasset.com/blog
http://www.middleclassmoney.com
http://www.boostmywealth.wordpress.com
http://www.squidoo.com/boostmywealth
http://www.stickyasset.com

Connect with us on Facebook with these free groups:
“Coupons & Coupon Codes”
“Live The Lifestyle Your Family Deserves”
“Saving Money”

5 Ways To Boost Your Savings


You don’t have to settle. And you shouldn’t.

People get overwhelmed with savings, retirement, capturing income and turning it into money that works for themselves and their family. However, we try to encourage those reading our blog to focus on percentages and regular strategy to save….regularly.

You can build regular savings on your existing pay and with your existing bills. The key is becoming committed to the idea and being creative about how you get there.

As you know if you have been reading this blog for any time, we believe you should build an emergency savings fund of 15 to 18 months of expenses. Without this, you may end up unemployed for 12 months or more and then not be able to replace your income after that for an extended time….or ever.

Here are some areas where you can look at “trimming the sails” on expenses as you begin to build a strategic savings plan for regular savings from each paycheck.

1. Look at your bills over the last three (3) months. Separate your expenses into bills you must pay anyway, things you simply spent on that you could have done without and fees.

2. Work to consolidate any bills or at least call each of the companies that send you each bill and negotiate to reduce each bill by 10 – 15%. If they give you any percentage, take that amount off the top and put it in savings as if you paid the “normal” amount. Be open to their suggestions. It does not matter how you get to the reduction. Just use the savings for….savings.

3. Negotiate on every single thing you purchase. Remember: You can buy it elsewhere. We live in a consumer based economy with lots of competition.

4. Reduce your “spending” (on things that are not bills) by 10 – 15% and take that amount and put it in regular savings each month.

5. Use coupons and coupon codes to reduce the cost of the YOUR REGULAR spending for things YOU NEED. Take the money you “save” using the coupons and coupon codes and push it out of checking and into savings. *If you need help in this area, check out the free Facebook group “Coupons & Coupon Codes.”

If you begin to constantly look for savings and unique ways to save, you will find additional ways to save savings will just “come to you.”

Remember to add up the amounts you save and make them a new “bill” you pay before you pay anything else each time you get paid.

Save more and regularly = live a better life.

HELPING YOUR KIDS GET AHEAD

If you think I was born saving money, you are wrong. My family is filled with hillbillies from Louisiana. There are members of my family that don’t believe in 401ks or IRAs. I was not brought up to save and invest regularly and I have made every mistake you can think about when it comes to money. I have had to learn the absolute hard way how to get savings on track and make it a part of your life without killing your lifestyle. I have had to learn the hard way how companies mislead with marketing. It is my mission to share what I have learned about regularly saving with my own children and also share it with you. That’s why we have a lot of “free” (blogs like http://www.boostmywealth.wordpress.com and http://www.stickyasset.com/blog and groups on Facebook like “Coupons & Coupon Codes”)!

In this country we don’t do enough to teach our children about money, managing money, saving regularly (and automatically), compound interest and steady investing for a long-term future. As a parent, we are always concerned that they get a good education and go to a good college so they can make a lot of money or have a valued career path. The truth is that we could do our children the biggest favor and one of the best things by sharing with them sound saving and investing principles.

You can join our free Facebook group (or have your children do it, too) by searching in the Facebook bar on your “wall” for “Live The Lifestyle Your Family Deserves.” Click on “become a fan.” It’s free and it ties our free blogs into that group.

If you want to give your children the same information we are giving ours, you can purchase the only thing we sell on any of our blogs or groups. It’s called “How To Survive Any Financial Crisis” and you can get it for only $4.95 at http://www.middleclassmoney.com.

Thank you for reading our blog and good luck!

Loyd Ford
http://www.stickyasset.com/blog
http://www.middleclassmoney.com
http://www.boostmywealth.wordpress.com
http://www.squidoo.com/boostmywealth
http://www.stickyasset.com

Connect with us on Facebook with these free groups:
“Coupons & Coupon Codes”
“Live The Lifestyle Your Family Deserves”
“Saving Money”

The Something Always Comes Up People


Have you met the people who say they cannot save money because unexpected things happen? The car breaks down or the kids need new shoes for choir or you get an unexpected bill.

You’ve heard the saying, of course: pay yourself first.

I get frustrated when I see that advice because I think it is hard to really wrap your brain around if you are living paycheck to paycheck. You need “the secret.” It has to be a secret that works against the unexpected.

Over the last fifty years, the marketing world has advanced your “credit rating” to the peak position in personal finance. They have made it more important than anything. It is used to drive you with fear to pay attention to the wrong things first. Let’s be clear: you don’t want to do anything to destroy your credit, but it is critical that your true focus be on the truth.

The hard truth is simple if you will hear me. Cash alone is king. If you constantly chase your credit score, your focus is on the wrong goal.

So, how do you “pay yourself first” even when the world crushes in and gives you unexpected financial problems from time to time?

Start with your very next paycheck. Look at the after tax amount of your paycheck. Multiply that amount by .01. Before you spend even one penny on anything (including bills), take that amount of money and push it to actual savings.

This will mean that you are beginning your savings with 1% of your savings. This is our 1% Savings Plan.

With each additional paycheck after the first one, add an additional .01 and multiply that number by the amount of your after tax income. This would mean the second multiple would be .02 for the second paycheck. It would be .03 for the third and you would continue to add to the multiple with each paycheck until you reach .20. This allows you to reform your savings over time without destroying your lifestyle.

The goal is to generate a proper EMERGENCY SAVINGS FUND for 2010.

WHAT IS THE PROPER EMERGENCY SAVINGS FUND?

The proper emergency savings for today is 15 to 18 months of your expenses. The old school days of having 3 to 6 months of expenses or even 6 to 9 months are gone. If you lost your job today, it might take you 12 months or more to find work and even longer to replace your income.

You can put six (6) months of your emergency savings in a money market savings account and the additional twelve (12) months in CDs (none over six months in length).
Imagine your world if you had 15 to 18 months of expenses in emergency savings? You can build it a lot faster than you think. You simply have to put strategy in place and take a step by step approach to lead you to the savings that will make your family feel more secure.

Don’t focus on how much you are saving month after month. Focus on the percentage of your after tax income that you are saving. This is the path.

And you can do it.

HELPING YOUR KIDS GET AHEAD

If you think I was born saving money, you are wrong. My family is filled with hillbillies from Louisiana. There are members of my family that don’t believe in 401ks or IRAs. I was not brought up to save and invest regularly and I have made every mistake you can think about when it comes to money. I have had to learn the absolute hard way how to get savings on track and make it a part of your life without killing your lifestyle. I have had to learn the hard way how companies mislead with marketing. It is my mission to share what I have learned about regularly saving with my own children and also share it with you. That’s why we have a lot of “free” (blogs like http://www.boostmywealth.wordpress.com and http://www.stickyasset.com/blog and groups on Facebook like “Coupons & Coupon Codes”)!

In this country we don’t do enough to teach our children about money, managing money, saving regularly (and automatically), compound interest and steady investing for a long-term future. As a parent, we are always concerned that they get a good education and go to a good college so they can make a lot of money or have a valued career path. The truth is that we could do our children the biggest favor and one of the best things by sharing with them sound saving and investing principles.

You can join our free Facebook group (or have your children do it, too) by searching in the Facebook bar on your “wall” for “Live The Lifestyle Your Family Deserves.” Click on “become a fan.” It’s free and it ties our free blogs into that group.

If you want to give your children the same information we are giving ours, you can purchase the only thing we sell on any of our blogs or groups. It’s called “How To Survive Any Financial Crisis” and you can get it for only $4.95 at http://www.middleclassmoney.com.

Thank you for reading our blog and good luck!

Loyd Ford
http://www.stickyasset.com/blog
http://www.middleclassmoney.com
http://www.boostmywealth.wordpress.com
http://www.squidoo.com/boostmywealth
http://www.stickyasset.com

Connect with us on Facebook with these free groups:
“Coupons & Coupon Codes”
“Live The Lifestyle Your Family Deserves”
“Saving Money”