Back to the Basics

Everyday get get several calls from people asking all kinds of financial advise. Dave should we borrow against our 401K to pay off credit cards, Dave should we refinance our home and use the extra to pay off student  loans, Dave what investments should I start to buy now that I have paid off my student loan after 13 years. This was just today. To each person who ever calls, I ask them "tell me about your monthly budget"? To which without an exception each says, I don't have one but I know what my bills are and I make more that I spend and you only help people who have financial crisis. This is true. I get the to serve people who are behind in their bills usually due to something that happened to them such as a medical situation, a change in job status or some other crisis. I also get to work with the other 55% of America who live paycheck to paycheck who are tired of working and having nothing to show for it after years but debt and stuff. I also get the pleasure to work with people who are doing Ok to well financially but want to do better.

The bottom line is we see it all. Personal finance is pretty simple, save 10%, give away 10% and live on 80%. The simplest thing everyone must do or nothing else matters is to develop a good working monthly budget. Wealth is not about income, there are many bankrupt people who make more than $100,000 a year. Wealth is about paying attention to your money and telling it what to do instead of wondering what happened to it. Each of the three people I talked with today were in debt and wanted help but did not  and did not have a budget. No solid financial plan can bring you success and peace without a written budget. Please visit our website at www.lighthouse-coaching.com to download a free budget worksheet. If you need help implementing the budget stop in for a free 45 minute consultation.