Money Management Continued

Money Management Continued

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The BlackProsperity Road Map:

Growth-change your Thinking/Habits/Confront your Fears.

Self Education- Knowledge is the key to successful wealth building.

Educate-Yourself to maximize your talent.

Career Planning-Plan the Career that is right for you. Discovering Your talents.

Money Management-Learn How to control your money.

Smart Banking-utilizing the full services of your bank.

Credit-Learn how to use it to your advantage and stay out of debt.

Investments-Learn about them to gain some money back.

Real Estate-A good start in investing.

Entrepreneurship-Owning your own business is it for you ?

Retirement- Don't be fooled what you do with your money dictates what kind of life style you are going to live. Weather it's Good, Bad Or Ugly

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"don't hate the player; hate the game? Don't hate neither one of them it is time to learn the rules"

blackprosperity

Wealth is not just about how much money you have in the bank it is also how many other assets that you own and can be able to convert it into cash. Real wealth is getting the things that you really want and be able to enjoy them it is not about just showing off it is about living life to it's fullest.

Discovering Your Net Worth

Assets

Liabilities

Liquid Assets
Any money that can be accessed on short notice, such as checking and savings accounts, short-term investments and Treasury bills (T-bills). Use their current value.

Investments
Stocks, bonds, mutual funds, stock options, annuities, life insurance, employer-sponsored retirement plans, and other employee benefits. Use their current after-tax value.

Real Estate
Calculate the current after-tax market value of your primary residence and any vacation homes or investment properties.

Personal Property
Cars, motorcycles, boats, jewelry, furs, wine, and electronic equipment are all part of your assets. Some assets, like artwork, antiques or a stamp collection, may appreciate in value, while others, like cars and boats, depreciate over time. Use their current market value.

Miscellaneous Items

anything else that does not fit into the the above categories. items like equity in a business or a trust fund.

Mortgages
This is usually the single greatest liability that many people have. Use the mortgage balance.

Secured Debt
Any items that can be recuperated and resold by the lender, such as cars, trucks, motorcycles, boats, and business loans. Use the loan balance.

Unsecured Debt
Personal loans such as student or renovation loans. But for many people, credit cards represent the greatest source of unsecured debt. Use loan or credit card balances.

You haven't work your but off to become broke later or restrict your self to becoming a miser and not having fun. One of the major problems is that many of us want to live the life style of the rich and famous but not willing to put the time and effort into establishing a solid foundation. see what is a millionaire. If you are trying to become wealthy to show off to others this is one of the major things that keep us broke. Why cause your self stress when you can't keep up with a neighbor or a friend or relative because they have more than you, buying a new car every year etc...Time waits for no one; once you become an adult it seems that time pass by in a blink. One of the man reasons time pass by so quickly because we begin to take on more responsibility see what do responsibility mean

" There are Two Things That Speaks Louder Than Words, Action And Money; HOW LOUD ARE YOU"

c.w.hurd

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The information presented on blackprosperity.net should not be construed to be formal legal or financial advice, please obtain advice or services from a license attorney or financial planner or other professional concerning financial matters.