3 Rules for Financial Success

Andrew SandersLTEC 3220.020

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RULE #1 RULE #3RULE #2

Rule #1

Spend Less Than You Make!

Rule #1 Con’t

First, calculate how much money you earn monthly.

Rule #1 Con’t

Second, calculate how much you owe monthly in debt/bills.

Rule #1 Con’t

Subtracting your bills total from your monthly income will be your surplus.

Rule #1 Con’t

Your priority for a surplus is to pay down debts first, then

start saving! If you don’t have a surplus, you must cut down

on spending!

Rule #2

Make More than You Spend!

Rule #2 Con’t

If you are upside down where you owe more than you make, here are your suggestions:

Rule #2 Con’t

Get a higher paying job to overcome the deficit.(or a second job)

Rule #2 Con’t

Change your lifestyle to accommodate your earning.

Stop extracurricular spending. (IE eating out, movie tickets, etc.)

Rule #3

Put Your Money to Work!

Rule #3 Con’t

The earlier you start saving for retirement the more compound interest you will accrue.

Rule #3 Con’t

Saving Bonds provide guaranteed revenue over time.