HOW TO OVERCOME DEBT, SAVE MONEY, CREATE NEW MONEY AND INCOME

HOW TO BECOME SUCCESSFULLY AWARE OF YOUR BUDGETS AND TO BETTER MANAGE YOUR FAMILY INCOME.

Hi first I would just like to introduce myself, my name is Ryan McGinley, and this guide is written based on my family experiences. I’m 18 years old and I have been starting to invest alot of my money lately, stocks, mutual funds, selling items on , saving money into my personal checking account etc. Well lets just start off by saying I am Still YOUNG, although I believe I am picking up some good traits and habits early in life. This is just a basic guide that well has kept me on a steady path to success. My family has a low income, my mother works two jobs to support the house, my father struggles with an independently run tile business, and well I was Unfortunate to fall into the lower end of the social class. Money has been an issue my whole life, Parents divorced while i was a young child had a huge affect on the family income. Mother decided a credit card would’t hurt, well the first one didn’t, now 5!! OK well a little off topic, however, this will all make sense as we go over some things that i have witnessed my whole life, and the ideas and people who i have spoken to to make a new fresh start.

SO I HAVE A CREDIT CARD, WELL TWO, OR WAS THAT 3?!

Ok as we all know, a credit card can be great!! If you dont have the cash on hand you can just swipe that card right down the machine, sure this is a great idea, wow and i dont even have to pay back the money until i have it! i can pay monthly!!

Well yah credit cards do have there conveniences, however most people forget the fact that IF YOU DON’T HAVE THE MONEY IN THE FIRST PLACE DO NOT SPEND A RIDICULOUS AMOUNT OF MONEY THINKING YOU CAN SIMPLY PAY BACK ON A MONTHLY BASIS. This thought gets millions of americans a year stuck in life time debts, its horrible, This has happened to my family when I was a child, a mother doesnt have the money in her bank account, but the Holiday Season has just arrived and little Tommy wants a new toy, The mother disregards the amount of money she has in the bank and maxes out all of her credit cards to buy gifts for the whole family, Sure this is great once X-Mas comes, however once Spring time rolls around and you have a OUTSTANDING debt you dont know what to do.

• Think realistic
• Think of how much money You actually have compared to what you have in “credit cash”
• Missing a holiday because of financial income will not make you a bad parent
• take this advise from a kid, sure it was great having a new scooter when i was 8, but having the same bill to pay back 10 years later??? NOT WORTH IT

We need to be aware of how many credit cards we may take out, and if we have to many, instead of paying those outstanding balances on each of them, consult a bank to see if you are eligible for a loan to pay off all the credit cards, and have only ONE Loan to pay off that would be less APR%.

My mother had many credit cards, each with extremely high APR, 15 %, 20% 25%!!!, ok guys well hopefully we all know that if we put all three of these outstanding bills into one loan or on even 1 credit card you would be saving a hell of alot of money!!!

4000 owed on one card

3000 on card two

4500 on card three

1500 on card four

Thats 13,500 you would owe on all four cards, now each of those cards would have an high apr, your bills WOULD NEVER BE PAID OFF IF YOU ONLY PAID MINIMUM PAYMENTS!!!

THEY WANT YOU TO PAY MINIMUMS!!! PAY IT OFF IN FULL OR ASAP!!!
PUT BILLS INTO ONE PAYMENT< USE A LOAN< OR JUST ONE CREDIT CARD TO PLACE THE DEBT TO

NOW THAT WE HAVE $, WHAT NOW?

Ok now that you have some money, we ask ourselves, “what do I want to buy now?”

and sure thats ok to please yourself once in a while, but dont make it a habit!!

• Put away a % of your money from each paycheck into a fund of your choice
• STOCKS
• Mutual Funds
• Banking accounts
• Bonds
• Cd’s

Well me personally because i don’t have too many expenses I set aside over 20% of my check to place into a mutual fund and stocks of my choice, most families set aside around 5-10%

Now DO NOT GAMBLE AWAY YOUR MONEY IN STOCKS!!!

• Research your stocks
• Watch the news on whats hott and whats nott
• Look for trends, make money off of them
• ever heard of myspace?
• CNN watch all that money talk.. im 18 and let me tell you IT PAYS OFF

READ READ AND MORE RESEARCH DONT GAMBLE ON THINKING A STOCK WILL DO GOOD, INVEST IN SOMETHING THAT IT SHOWS ON THERE INCOME SHEETS

Mutual funds I’m sure your work offers you some sort of plan to place $ into it each paycheck.. it pays off choose the right ones and start saving!!!

Place aside as much as you can in each check

Cut down on over expensive foods, services not needed, those extra tv channels you never watch

Money adds up, and once you see where its going, you will have a better way of saving it up

Compare prices,, SHOP around, get the better deals.

DONT GET THE IDEA THAT PEOPLE WILL ALWAYS CARE THE WAY YOU DRESS, LOOK ETC

Think about yourself and family first, on their needs, food clothes education and shelter, everything else is just and expense!

Save your money, dont go blow your check on those new 300 $ purse because “EVERY ON HAS IT”

think relisticly

that 300 dollars could have gone to your childs education

that 300 dollars today could have been 5000 dollars 18 years from now if you had put it into a good MUTUAL FUND

Once again my name is Ryan and I just wanted to write a little quick guide on how to manage family income a little better, yes I am young and I just hope when i am 40 years old I can be sitting on the beach retired because of the ways i managed my money. Its never to late to learn from your mistakes, Education is always priority, learn new things everyday, and some of the things i hope you will now do if start investing your money in a good mutual fund, save in the bank, cut those credit cards up, and take a look at the stock market if you have the chance to ever do so.

thnx once again,

Ryan McGinley

will be larger once i have more free time