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For a financial makeover the same principles apply. After the
bankruptcy (surgery); consume what you need, decide what you want,
moderate the excesses and monitor the money in and the money out.
Financial health and security will follow.
The FreshStart Goals
Live within your means; Cut waste and excess; Save money and share your wealth
How do we do it? We don't. It is all in YOU, if you want it, you can do it.
That may sound crazy, this is money we are talking about, not peace,
love and salvation. Your brain is the strongest muscle and the most
powerful computer ever made. Give it a task: to build a bridge, to
reach the moon or charge into enemy fire. If the human brain gets good information and the right tools, you will soon cross the river, walk on the moon, achieve your objectives.
This is how FreshStart's simple money management program will change
your life. Set simple goals, get good information use the right tools
and presto, financial security.
Good Information
Garbage in Garbage out
There are two types of financial information necessary to achieve
your goals. Your income and your expenses. Like any business, income
must exceed expenses or you will eventually what? be broke again.
Determining the income is simple but must be done correctly. Look at
your tax return, your pay-stub, your tip jar, support received, gifts
etc. Add them up and that is your annual income. Divide by twelve and
we have a monthly budget.
Be sure you are not receiving a large tax refund each year. If the
IRS refunds any more than 5% of your total annual salary, the
deductions are too high. You can make better use of the money on a
monthly basis. Contact your payroll office to adjust the amount you
receive each month.
Expenses
Ask any titan of business how they managed to get so rich and
without exception they will tell us to watch and control the expenses.
Where the money goes is the only part of finances we can really
control. We cannot give ourselves raises, we cannot make customers come
into our business, we cannot control inflation; what we can do is spend
our money when, where and how we want.
This is the heart and soul of FreshStart money management. Where does the money go?
For our brains to achieve the goals we have set, we must give it
good data, good information. How do we do this. WRITE IT DOWN. The only
way to make sure you know where the money goes is to write down every
quarter that you spend. At the end of six weeks, if you have written
down each and every Quarter that you spent, your brain will have
changed your behavior and you will be saving money. GUARANTEED.
This chart helps you identify the usual categories of spending.
Charts and forms are useful but not necessary. We recommend a 99¢
spiral notebook. Write it down. Six Weeks. GUARANTEED.
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| DATE: |
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AMOUNT |
|
AMOUNT |
|
AMOUNT |
|
AMOUNT |
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| Rent/Mortgage |
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Groceries |
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New Clothes |
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Car Payments |
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| Electric |
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Pizza (fast food) |
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Dry Clean |
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Gas/Oil |
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| Natural Gas |
|
Quick Stops |
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School Supplies |
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Tires/ Maintenance |
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| Water & Sewer |
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School Lunch |
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Extra Curricular |
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Car Insurance |
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| Telephone |
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Work Lunch |
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Uniforms |
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Life Insurance |
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| Mobile Phone |
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Liquor |
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Haircuts |
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Health Insurance |
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| Internet |
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Cigarettes |
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Nails |
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Home/Rent Insurance |
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| Pager |
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Pet Food |
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Pet Grooming |
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Real Estate Taxes |
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| Long Distance |
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|
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Car Tax |
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| Cable TV |
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|
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HOA Dues |
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| Movies/Ent |
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Charity |
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| Vacation |
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| TOTALS |
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This chart gives you a starting point to keep track of expenses but,
for now, what the expenses are really doesn't matter. If you are
writing down each time money is spent, you will automatically adjust
the expense up or down to reach your FreshStart goals of:
- Living within your means.
- Curbing waste and excess.
- Saving money for the future.
As a Full Service FreshStart member you can take advantage of our online expense tracking and financial reporting system.
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