“I always turn to the sports pages first, which records people’s accomplishments. The front page has nothing but man’s failures.” – Earl Warren, Former Chief Justice of the United States.
Mistake # 7: Getting a home equity loan to pay off credit card debt is a good idea. No, it’s a terrible idea. The excuse is that you have converted a non-deductible high interest debt to a lower interest tax deductible debt. I mentioned in an earlier post in this series that Converting unsecured debt to one that puts your home at risk if you default is a bad idea.
Solution: Follow the 12 steps in Wealth On Any Income and set aside 10-15% of your income to handle emergency spending. Set aside 10% of your income to create financial freedom. Establish a spending plan based on goals that reflect your values and principals and you will have a spending plan (or budget) that will work for you.
Are you ready to win?
Get your personal and business life back in balance?
Take advantage of Ralph White’s COMPLEMENTARY Deeper Dive course where you will learn to use the WholeLife Matrix and apply it to your personal relationships, spiritual life, business life, financial goals and more.
Get your LIFE IN BALANCE. Join Us for Free!
Join Ralph and your peers at 11 am to noon PST to discuss YOUR issues and receive live answers to your questions in this interactive conference call.
Register today for the Deeper Dive complementary course.
See full schedule here:
Business Coach, Author, Artist & CEO
310.372.8538 | Ralph@Consulting2Win.com
www.PossibilitiesUnlimited.com | Contact
Click here now to set up an appointment to talk to Ralph.