Financial Well being for everyone

5 basic steps for Financial Fitness # No. 1

• Assessment – We need an Xray of your Financial World '

• Your Income sources

• \Your Assets ( pensión plan, savings, property)

• Your Debt ( The lender, interest rates, term of loans)

• Your Credit Report

• Your Expenses

5 basic steps for Financial Fitness No. 2

• Analysis of the Xray

• How do we reduce your debt

• How do we increase your savings

• How do we increase your Income

• How do we reduce your expenses

• How do we improve your credit scores

5 basic steps for Financial Fitness No.3

• Setting Goals

• Steady Source of Income

• Protection against financial catastrophes ( Medical Insurance, Life Insurance, Property Insurance

• Financial Reserves ( Car breaks down, household appliances)

• Planning to get ahead of cost of living ( Modest inflation will eat your savings)

• Be Alert to opportunities ( public policy)

5 basic steps for Financial Fitness No.4

• The Budget

• Its a planning device to set and reach your goals

• Review your prior year spending, time to get creative

• A Budget Will be your best friend, it alerts you to trouble while there’s still time to do something about it.

• Choose your software ( or Excel spreadsheet, a notebook)

• Review your utility bills ( Moment to spend to sabe)

5 basic steps for Financial Fitness No.5

• Credit

• Switch to lower-rate credit card( Are you enrolled in mileage program?

• Send extra money to principal to pay off your mortage

• Who do you bank with? Watch for the hidden fees

• Pay off your car loan

• Protect your home with “ Hogar Seguro” Puerto Rico law
  

  ?Cuales son tus sueños?