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We are aware that we are not going to be there for you forever. As much as you know that intellectually, it is human nature to want to lean on the very ones who brought you into the world for the comforts that you have come to expect in your “growing” years.

The hard, cold truth is we cannot be available for you beyond those years - at least not forever! Most of you have learned enough to keep afloat most of the time and we have been willing and able to help during the rare occasions when your finances did not match your obligations. That’s what parents do and it has been our pleasure to be able to do that for you when we can. Having stated that, this book will take you into the world prepared for your journey – if only from a financial point of view.

This book can be your financial companion throughout your life – through the “salad days” and the dark days and everything in between.

This book is a guide to help you manage your own money at all stages throughout your lifetime.

This guide offers a new dimension of personal finance to empower you to manage money and make your own decisions in your own best interests, and for the benefit of your family and loved ones.

Intended for everyone, these guidelines will help you regardless of your occupation, age, and future goals, and assist you through financial decisions necessary to achieving those goals. We wish the best of everything to you and yours.

This book is for you and if you follow it even minimally, we promise you will achieve your goals… at the very least; you will find reasonable financial stability regardless of where you are in your journey through your life. There is something for everyone in this book. To borrow an old cliché “this is a gift that keeps on giving!” Now the rest is up to you…

Think again if you are considering relying on any of a host of professionals to make your decisions for you. Remember that all of those “professionals” are interested in making money for themselves first. They may not be making the decisions in your best interest.

This book has the answers. This book shows you the way, whether you are just starting out on your own, a young parent struggling to make a home, a career, and a future for your children – born and unborn, staring retirement in the face in less than 5, 10, or 15 years with little to no savings, or just curious about the claims and philosophies of yet another “know it all.”

Take heart and relax and commit to trying the concepts and methodologies that are described in this book. If you do, in due time, you are bound to find that your children have grown up and gone out on their own, and you are retired on a sandy beach in front of your own little villa if that’s your dream, or ice fishing through a hole in the ice on your own private lake, or whatever “paradisiacal reward” you envision for yourself but right now you call it a “pipe dream” and believe that it is not achievable. All of it is achievable! Get started now – Read this book – and then apply it to your financial practices!

If you take seriously the paths we have outlined here in this book, you will start out on your own with minimal stress and adequate finances to acquire comfortable living quarters and the ability to provision yourself with food, clothing, and reasonable entertainment even prior to your first paycheck. The plan is to put together guidelines for planning your future to be implemented now, so that you will be financially prepared to set yourself up after your schooling.

After you are established in your career but need to reference some guidelines to help you continue along the right paths of the maximization of your income, investment advice, tax issues, and the ultimate long term plans for retirement, you will find that help here.

When you are older and have been unable to follow the guidelines previously due to circumstances beyond your control or any reason whatsoever but are becoming concerned about your children’s education, your comfort at retirement, or you are just finally ready to enhance your future, you will find that help here.

If you are approaching retirement in 5 – 10 years but have not been able to put much away toward this time of your life for whatever the reasons, you will find hope and tools to achieve a reasonably comfortable retirement despite your late start right here in this book.

Are you asking why this author purports to know more or better than any of the other hundreds and possibly thousands of financial services people who have entered your life in a “sure shot – can’t fail” book, investment or approach that promises the one and only way to get it done? The answer to your question and the soothing balm for your skepticism lies in the fact that this author has passed on to you the methodologies he has used in his struggle to achieve his personal goals despite the adversities that plagued his life and put major strains on his personal finances – divorce, a child’s health issues, his own life-threatening health issues, a permanent infirmity that prevented him from continuing his career, and a host of other events that we term “life happening!” And yet, through it all, he designed and put into play the methods and procedures that comprise this book. He was his own “guinea pig” as he tested his theories and methods and resolved the glitches and issues until they worked for him and now they are going to work for you if you let them!

The focus of this book is purely on the financial aspects of life as they relate to the reader. Many official agencies, government and otherwise will be mentioned, not to make judgment on their intentions or abilities, but only to explain their interface with the reader’s financial decision making process. Any other interpretation, besides the effective and proper management of the reader’s money, is a misunderstanding.

It is suggested that you read this book in its entirety at least once. Then keep it for future reference as you progress through your life and refer back to the topics of interest as your finances change.

Managing money is probably the most daunting and dreaded task any of us have had to take on. On the one hand, it is our right to use the money we earn, acquire, or inherit in any way that we desire. On the other hand, it is our responsibility to build our future and take the spoils if we do, or suffer the consequences if we don’t. It is one responsibility that is always on our minds, but not always in a positive way.

Money is a burden as much as it is a prize for work well done. Money is also the most difficult thing to hang on to as we journey through our lives. Oh sure, there are those of us who manage money very well and work out a budget (and stick to it), get the bills paid on time and sometimes ahead of time, invest in the future, put the kids through college, and ultimately retire in comfort in some warm and sunny place debt free! There are those types and then there are the rest of us! “Freaks!” we say. “Bores and nerds” we say. Boy, do we not like those folks and yet we can’t help but muse about it, make excuses for it, and ask questions, like “how do you do it?” When did you start? Often we rationalize that probably those who have it, inherited old family money to begin with, and a host of other excuses. But the truth is, we do envy them!

Like it or not, we are the managers of our money and so why shouldn’t we manage it to our advantage – now, later, and for all time? It’s not hard – but it’s not that easy either because we are constantly tempted by marketing materials in the mail, email, TV, radio, and even on our cell phones! BUY, BUY, BUY! Sermons about discipline are for preachers, don’t work, and ultimately put us all to sleep! We want answers!

Most of us don’t even like to think about money management and often postpone making the decisions about our money as long as possible. We work hard all day, so we want to relax in the evenings. Weekends are reserved for family and friends. We entertain our friends at home, go out for our entertainment, or spend time involved in hobbies and “pet projects.” We always reserve time to devote to our children if we have them, our spouse or “other half” and romp around with our pets too. Since most, if not all of these activities cost money, we are forced to consider our budgets in order to pay for the things we want and need. It is not uncommon to spend more than $100.00 a weekend on what some financial gurus might term “frivolity.” Well, “frivolity” is the spice of life… We all need it… We all want it and we deserve it… But it’s expensive!

What we don’t like to do is pay our bills. The plain truth is that we have to pay for where we live, what we eat, and what we need. The hope is that we have enough left over to enjoy some of the things we like to do. Are you getting the picture? Like it or not, we are forced by life to manage the money that we earn.

It is a fact of life that we are forced to manage our cash flow from the allowance we received as a child, or the paper route, or our first “real” job, all the way through to our “golden years” as some like to call getting older. We dream that when we reach the “golden years” we will finally be able to enjoy the benefits of all the work we did during our lives. We dream of the days when we can afford the time to be with our family and their families, and have the time to pursue our hobbies and activities as much as we want comfortably and without financial strain.

Let’s review how we perceived our roles as “money managers” throughout our lives… As a child, we had to decide what we wanted to buy with the little money we earned from household chores or our paper route, etc. Since there was never enough money in our pockets to buy everything we wanted, we had to make some spending decisions. As children, did we decide to buy something that was affordable but not the best, or did we decide to save our money so that we were able to afford the better and more expensive toy? Even back then such decisions plagued us and taught us about managing money. Now that we are adults, we face the same decisions but the price of our wants and needs has increased! But then, so has our income! Nonetheless, there never seems to be enough money to buy all the things we want without sacrificing somewhere. When we retire, we will still face the financial decisions about how to manage our resources. So you see, whether we like it or not, we are forced to manage money throughout life on some level.

The purpose of this book is to help you make these decisions to optimize the use of your resources while minimizing the stress and anxiety that often accompanies such decisions. The concepts presented in this book are focused entirely on the management of money. The intention is to provide a guide for you to reference when decisions are required to manage and maximize the value of your money. It’s your money… Why not manage it well?

If you follow the path set out for you in the following chapters, the return on your investment will be many hundreds of times the purchase price of this book.

Managing money is not difficult but it can be confusing. To help you get started, we have separated the various topics of managing money into sections that can be easily understood and absorbed. It’s simply a matter of addition and subtraction; so if you can add and subtract, you can manage your money. That’s all it takes – numbers added and other numbers subtracted. If you are not comfortable with simple math, just purchase a small pocket calculator and you’re in business!

We’re almost ready to begin but let’s consider a few more tips to ease your mind. As you work your way through the book, there will be a few formulae and equations presented for your use. It is not essential that you use the equations because textual explanations and descriptions are included. Most inexpensive calculators feature these functions and can be used to emulate the equations mentioned here.

As stated previously in the Dedication chapter, we have written this book to provide guidelines for our children because we know life will not allow us to be there for them for their entire lives. Having done that, we realized that these methods and guidelines have value for anyone. Remember, your success is totally up to you. We hope your decision is to get started, or to enhance what you’ve already started! We wish you success because we know that these guidelines worked for us – they will work for you.

If you want to manage your money the easy way, read this book. We have leveraged our 30 years experience in personal finance and formal training through college and graduate programs, to design and develop these techniques, which have been tested and proven successful. Now we present this system to you to help you manage your money today and plan for your comfort for tomorrow.

The goal is to guide your decisions with minimal error and maximum value! Let this book help you to plan your future while managing your present financial responsibilities efficiently and to your best advantage.

Regardless of your age, your stage of life, how you earn your living, or what plans and goals you already have for your future, this book can help you secure your plans if you’ve already begun to manage your money and work toward your future goals. It can help you if you are starting from “scratch”. Begin today to map out your plans. Once you understand the concepts presented in this book, you will be on your way to capturing all the best ways to use your money and make the correct decisions for your future.

Make managing your personal finances a habit and a way of life to reduce stress and uncertainty. You can be confident if you are in control and that alone can enhance your sense of well being. Even your general health can greatly improve because stress levels are reduced.

Although it is not necessary to read the entire book in order to accomplish good money management skills, we suggest that you do read the Book in its entirety to gain an overall understanding of our methods and techniques. There are many concepts presented which are intended to benefit people at various stages of their lifetime. You will not be at all of these stages at the same time, but it would be beneficial for you to understand the concepts of managing your money at different times of your life. Take one section at a time and be sure you have one concept worked out before moving on. It will move quickly once you get the “knack.”

Keep this book handy for future reference because different sections of the book will become more important to you at different times in your life than they may be right now. As your life situations change, due to a job change, marital status, children or some unexpected surprises in income or expenses – good and bad, it is recommended that you refer back to this book for advice and guidance.

Relationship changes such as marriage or entering into a live-in relationship can have an impact on the way you manage your finances. From simply sharing household expenses to the joint purchase of a home, we recommend that shared expenses be managed in a “shared” environment, together as a team. Equal responsibility and management your finances is key to preventing conflict that will compromise the relationship, and even your health and well being. The teamwork approach is essential for the partnership to be financially beneficial to both parties.

Look at your financial resources as a business – your personal company wherein you, like the Chief Executive Officer (CEO) of a company monitor your budget against expenditures while strategically planning for growth, financial stability, and profit. However, you have the “edge” over the corporate executive because unlike the CEO who is responsible to other key players in the company, you are responsible only to yourself. You are the only one who will judge your successes and failures.

You will make decisions that affect only you and your family. There are no stockholders, no employees, and no management performance overseers to contend with. However, you are your worst critic, you toughest “boss,” as well as your biggest fan! Use the knowledge that you gain from the following chapters to help you make those decisions so that you will enjoy the financial success that you so rightfully deserve.

A wise man whose presence greatly influenced this book often said, “If a job is worth doing at all, it is worth doing well.” This certainly applies to management of our personal finances. Since we have to manage our money anyway, we might as well be good at it! The same wise man also said, “If you want a job done right, you have to do it yourself.” When it comes to your money, this statement also applies because after all, it is your money and nobody has a deeper interest in it than do you. So, why not manage it yourself and do it well?

Most of us live fast-paced lives that demand that we race against the clock during virtually all of our waking hours. We even hurry to finish dinner so that we can watch our favorite show! Our lifestyle dictates a day-by-day existence in order to survive the pace. “One day at a time” is our motto from the clerk to the CEO of a large corporation. Time seems to move so quickly…

As we look back on our own lives, it appears a blur: Our school years drag on when we are children but once we’re out of high school and onto college or a career, those days are over before we know it. Then we go to work and it seems we’ve been working forever while our small children grow up and leave our homes! How many times has it been said, “I can’t wait for the kids to grow up and be on their own.” This is an event we have waited for and looked forward to, but when it is reality, it seems only yesterday they were babies in their cribs! What happened to our lives? Finally, we find ourselves facing retirement. We can’t believe how fast the time went and we are concerned that perhaps we don’t have enough in reserve to retire. Time comes to a stop as we worry and fear that it might be too late. No, it is not too late!

It is reasonable then, that we apply the same “hurry up” attitude when we manage our finances. Such a rush-rush approach to our financial planning can, and often does, put us onto a “paycheck to paycheck” roller coaster ride that curtails planning, prevents saving, and ultimately stops the steady development of prudent financial planning and well being.

The first thing we need to do is to take control of our money and our financial situation. “Easier said than done” you say? Okay. Let’s explore how to do this. First, you will need to assess and restructure your time management habits. You need to take the time necessary to build a structure around your spending and it really only takes a few minutes. Initially, think about what are your everyday expenses? In addition to those everyday expenses, you need to plan for the future events that you know are going to happen. These events are different for everyone but require the same consideration. How much do I need and how can I ensure that I have enough when the time comes? The sooner we begin those plans, the better off we are.

Let’s begin by expanding the time in which we spend money. If you receive your paychecks weekly or bi-weekly, expand the time in which you spend that income from a weekly period, to a monthly period.

Once you comfortably “stretch” your spending schedule over a one-month timeframe, it will probably and hopefully result in a reserve at the end of each paycheck that you can begin putting into a savings account.

Then go a bit further and extend your spending period to project out your budget for 6 or 12 months. Now you have a plan for your financial future that lets you see beyond a week or a month. And more importantly, you will see into the future with confidence that some of your long-term dreams are not so impossible anymore.

Look! You have taken control with very little effort! You can see it happening and that is going to be your incentive to get to the next plateau of planning a comfortable financial existence!

Next, try to include other goals and dreams into your plan, like buying a house, raising children, that special edition sports car, budgeting and investing for retirement, or even that weekend home away from home. After all, it’s only money and now, you are beginning to plan for your entire lifetime!

We all seem very concerned about how much money we earn and how much money we spend. Actually, when you think about it, money has no intrinsic value in and of itself. Take a second and look at a dollar bill for example. What are you really looking at? You’re looking at a piece of fancy paper (that’s really fabric) with fancy printing on it. Right about now, we are probably all wondering what it would be like if we could duplicate that fancy piece of paper with fancy printing ourselves, but we can’t. Also, since that is actually a fantasy, let’s move back to the real world. So money is just special paper that gives you the ability to buy things.

Money has been defined as a medium of exchange. In other words, you bring money into your life by earning it, and then you spend it to purchase the things that you need.

Money is like a drink of water… You drink water and your body uses it to stay healthy and then releases it. Like water, you earn money and then use it to stay healthy and happy by spending it for things that you want and need. So the more money you “take in,” and then spend, the more you are able to stay healthy and happy. More about his later when we discuss various strategies for earning money and various strategies for spending money.

The largest problem we all face regarding managing money is really resident within ourselves. We are the only ones who can make our financial life a success or failure. We are human; therefore it is in our nature to want certain creature comforts that make our lives more comfortable.

When we are first starting out in our chosen career, we feel good about ourselves. We are becoming established and have a steady income for the first time. This promotes stability for the future. Truthfully, a stable job or career is a major step towards financial stability, and a prosperous financial future. But beware…

As we continue to buy the things that make life easier, we often end up buying more than we should and find that we have difficulty paying for these things. We often find ourselves on an emotional roller coaster as we want more things, buy more things, and get into trouble paying for them. This natural human condition – greed – is at the core of our “self-inflicted” problems. Basically, since we are the only people who can control ourselves, it is essential that we do take control! We all have weaknesses and we all make mistakes. Quite often, when we get into trouble paying our bills, it actually costs us more in the long run then the overspending alone. We find ourselves paying additional charges like late payment fees and interest charges that only make bad matters worse. The concepts discussed later in this book, will help you learn how you can identify the stage when you begin to have the problem and also how to take control so that it does not happen again. If you have already overspent your income, the concepts discussed later can help you get out of trouble and back on your feet.

We would all like to be rich but realize that “rich” is a relative term. Most of us consider being rich as having more money than we have now. But, when we actually do earn or acquire more money than we have now, we often still do not feel “rich” and retain the belief that we still need more. The more money we have, the more money we tend to spend. Often it becomes necessary to spend even more money now in order to protect the money that we have! We tend to need more insurance on our assets and more security systems to protect our possessions and ourselves. If we get to the point where we are actually considered to be “rich” by ourselves or others, the longing for more continues because as mentioned previously, the more we have; the more we want.

If, we do reach the level of “rich,” and we have not yet learned to control our natural human greed, we might quickly find ourselves in a bigger financial hole than when we only had half as much money. So being rich is not the answer to financial comfort; however, controlling our desires for “creature comforts” and “keeping up” is. “Life” still happens while we are making other plans, but if we are in control, the bumps in the road are quickly smoothed and we continue our journey in confidence.

Another thing you will need when you start out on your own is ‘credit”. You can begin establishing a credit rating while you are still in school that you can use later on as you need it to bridge gaps between expenses and paychecks. It is sometimes a dilemma in life to establish a credit rating when you have no credit! Many credit card companies will reject you because you have no credit history. Once you have built a credit history and have a good credit rating, obtaining additional credit cards is relatively easy. The dilemma is in the how to establish your credit in the first place.

One way to establish a credit rating is to open a checking and savings account at a Bank while you are still in school. Deposit as much money as you can into these accounts. Then, go to your bank and ask them for a credit card. A debit card is not as good as a credit card because the debit card takes money directly from your checking account and is equivalent to writing a check. Therefore, a debit card does not establish a credit rating for you. The bank is more likely to accept your application for a credit card based upon the money you have on deposit with that bank.

Once you have a credit card issued, you can begin establishing a credit rating. The bank may only give you a small credit limit to begin with, but that is not important right now. The credit limit will increase over time as you use the credit card and pay the bills on time. It is very important that you establish a good credit rating for the future. The way to do that is to use credit card and to pay the bill promptly. Usually, it takes three months of using the credit card and paying the bill on time to establish a good credit rating. You do not have to charge large purchases on the credit card. You can make small purchases. For example, you could buy a tank of gas and charge it to your credit card. The amount really doesn’t matter. What does matter is that you pay the bill promptly when it comes in. That will establish a good credit rating for you.

When you begin working, you can charge your living expenses on your credit card. Hopefully, by the time the credit card bill arrives, you will have received your first paycheck to pay the bill.

Always pay the bill as soon as it arrives. If you have a car loan, make the payments on time. If you have a student loan, make those payments on time also. It usually takes at least three months of on time regular payments to establish a good credit rating. It is in your best interest to maintain a good credit rating. If you make payments late or you skip a payment, this can adversely affect your credit rating and soon, you might find that you are having difficulty borrowing money when you need it to buy a better car or a house. Therefore, you will realize that the old saying, “you must have money to make money” really is accurate. It all starts with a good stable job, a steady income and your responsibility in paying your bills on time.

Sometimes in life, we face financial setbacks and even tragedies. Often, these financial tragedies cannot be foreseen or anticipated. If this should happen to you, your best strategy is to talk to the people to whom you owe money, explain the tragedy and ask for their help in paying your debts. Some organizations will allow you to use a payment plan or other strategy to help you get through this rough spot in your financial life. If you have good credit, it will be much easier to be successful in these negotiations

Some creditors will not cooperate and might insist on full payment of your debt. If you face too many of these, you may not be able to meet your obligations with the income you have available. It might become necessary to avail yourself of the Bankruptcy laws in this Country that are there for your protection and to help you recover. However, bankruptcy is a very serious matter and should not used only as a last resort. If you are forced to file for bankruptcy, be advised that some creditors are exempt from the bankruptcy laws. The Internal Revenue Service (IRS), your lawyer, and the Bankruptcy Court itself are among these. They get paid before your creditors get paid. If you do not have enough money to pay these exempt agencies before bankruptcy, you must continue to pay them after your bankruptcy is granted. Remember that your credit is damaged after bankruptcy for 10 years. Therefore, bankruptcy is not a free ride and it will cost you financially for many years to come. The bankruptcy laws will change from time to time and it is recommended that you consult a competent attorney if you believe you need this protection.

Sometimes bankruptcy is unavoidable and you have no other choice. But there are other times when you can negotiate a solution yourself without going to the Courts. It is always advisable to avoid bankruptcy.

The best way to avoid such financial calamities is to establish a budget using known income, and the disbursement of known expenses. Consider your future goals and make provisions for them. Then, make sure your budget balances and you can pay all your expenses with the income available to you. Once or twice a year, review the budget you have created in order to keep it up to date. Review the budget any time you have a significant change in your income or expenses. The details of how to accomplish this will be covered in later chapters.

It is intended that this book be timeless. In other words, the concepts illustrated in this book should still be valid regardless of changes in our society. Laws that affect your life can be written or changed at any time, such as tax laws, and tax-reporting laws that get updated or changed almost annually. In addition, the economy of our Country is in constant change. These changes can affect your income and your expenses. Your investment income may also change due to outside forces. Your job or career may change as well. It could become necessary to change your job or retrain yourself for a different job in order to maintain or increase your income. Try to keep current with the changes in laws and the economy and understand how they affect you, your income, and your life expenses.

Your “career” is a large part of your every day life, regardless of what you do for a living. Whether you are a forklift operator, a salesperson, a manager or the CEO of a corporation, each of us learns the skills necessary to perform our job successfully. Earlier, we discussed managing the money you earn. Now, we will discuss what can be done to improve your career.

Most people are so caught up in everyday life that they forget to look at the big picture. There are two ways to increase your disposable income. You can increase your income, or you can decrease your expenses. Remember the discussion earlier about disposable income? Your disposable income will increase if you either increase your income or decrease your expenses. Other chapters focus on the management of your expenses. This chapter will focus on the management of your income.

You should spend as little as you can to maintain your lifestyle and your health. You should also save as much as you can for your future. Moderation, compromise and balance are the secrets to financial success.

The methods to use to find an employer depend on the type of work you are seeking. Newspaper advertisements, employment agencies, and Internet placement services are always good sources. When you find a position that interests you, call or email the company, as instructed in the advertisement or Internet request, and ask to be scheduled for an interview.

Many larger corporations use search and placement consulting agencies to conduct the search for candidates so that only the most qualified candidates are presented to fill the position. Therefore, it might be a good idea for you to establish a working relationship with a search firm so that you are presented as a candidate whose skills match those that the company is seeking.

The search consultant will study your resume, interview you to determine and confirm that you can fulfill a number of prerequisites that the company is requesting and then set up a date and time in which the agent will present you for consideration. The search firm is trusted to present only those candidates that are best suited for the position, and that gives you a greater advantage when the company decides who will be chosen for the job.

In some cases, you can contact the Personnel Department of a company in which you are interested and asked to fill out a job application and schedule an interview. Some companies keep applications and resumes on hand because there are so many people that want to work for them, that they can fill their job openings from the waiting list of potential candidates alone but this is not the ideal method because some companies do not accept “walk in” candidates. Let’s explore in more detail the different methods for finding a desirable position in a good company.

Word of mouth can be a very effective method to find a new job. This information may come from your friends, people you have worked with in the past or former classmates at school. Make sure you talk to your friends and associates about possibilities and opportunities with the companies where they are employed. You are in a much stronger position as a potential candidate if someone who is trusted and respected by the company refers you. You are in an even stronger position if the person you know already works there, even if they work in a different department.

Many companies advertise job openings in the newspaper. You should become familiar with your local newspapers. Many newspapers have the majority of their job placement ads on the same day each week, often on Sunday. They usually do not publish all of the ads everyday. You should buy the paper on that day, read the ads and answer the ads that interest you right away. Follow the instructions in the ad.

Quite often, Personnel Consultants place ads in newspapers too. The advertisement is usually for a specific job, which may or may not exist.

Personnel Consultants are sales people who earn commission from their client company by finding prospective applicants for a position that is open. People in this profession are commonly called, “Head Hunters”. They are also called, “Search Consultants”. This is probably the most accurate description of their function as they conduct searches for the best people qualified to fill a particular job opening.

Sometimes, they will offend people by placing false or misleading ads in newspapers for job openings that may not even exist. They do this in an effort to find people who are looking for another job. They may also call you at your work to see if you are interested in changing jobs. They will tell you about a job opening that is available (a real one) and ask if you know someone who is interested in applying for that job. They don’t say it, but they really want to know if you are interested in that job.