Create your dreams list
0
Spend most of your time on your most important values
Identify your current values r most important values
Identify and eliminate destructive values
Focus on the result e destructive values
Put your financial goals in writing
Create a Records Management System(RMS)
Choose a permanent Records Management area
Set up your filing system Management area
Choose the record keeping categories
Purchase a plastic check box for checks
Store important documents safelychecks
Build a tax reference libraryly
Keep all tax records at least seven years
Keep receipts for all deductible expenses over $25
Keep expense records in a pocket-size expense log
Keep receipts in addition to cancelled checkslog
Use a credit or debit card for effective record keeping
Keep a time use record of assets for 90 daysrd keeping
1
Create an Assets List for insurance purposes
Prepare a family Financial Statementurposes
If single, no dependents, don't buy life insurance
Do not buy life insurance on childrenfe insurance
If your spouse provides family income, insure him/her
Substitute the income of a spouse for life insurance
Insure a working/non-working spouse if you have kids
How much life insurance should you buy?ou have kids
Determine income before determining life insurance
Replace life insurance with income as you grow older
Buy enough insurance to maintain your lifestylelder
Don't buy whole life because it pays dividends
Pick companies rated A or above with the low premiums
Don't buy double indemnity for accidental deathmiums
Never buy the disability premium waiverl death
Don't buy a policy just because of the company name
Never buy whole life insurance as an investmentame
Don't fall for the big lies about whole life insurance
Don't buy to avoid threat of being uninsurable in future
Buy only term insurancet of being uninsurable in future
Choose annual renewable term or level premium term
Buy ART if you have a short-term need for insurance
Buy ART if you smoke or are overweight but intend to stop
Call the Insurance Clearinghouse to get the best valueop
Replace existing whole & universal life with term insurance
To cancel a life insurance policy, stop paying premiumsnce
Remove cash value during 30-day grace periodg premiums
Use life insurance-to-annuity tax-exempt transfer rules
Borrow and reinvest your life insurance cash valueules
Don't give life insurance proceeds to heirs in lump sum
Set up a trust to distribute income from invested proceeds
To avoid probate make proceeds payable to a beneficiaryds
Carry bodily injury to cover net assets plus legal fees
Carry minimum $50,000 property damage liability coverage
Buy $1 million of umbrella liability for under $150/year
If value of your car is low drop collision & comprehensive
Drop duplicate coveragelow drop collision & comprehensive
Raise deductibles on auto & homeowner's to $500 or more
Never file an insurance claim for under $50000 or more
Never pay more premiums than you can collect in damages
Substitute a free credit card for low insurance deductibles
Check insurance rates on your car before you buy itctibles
Shop around to save on auto insurance premiumsy it
Don't take extra coverage such as towing or car rental
Determine amount accidents or tickets will raise premiums
Ask for the 5 basic automobile insurance discountsemiums
When renting a car, decline all extra insurance coverage
Buy separate policy for motorcycles, mopeds & snowmobiles
Take only the coverage you need on your homeowner's policy
Decline additional coverage on your homeowner's policyicy
Purchase a "floater" to cover expensive personal items
Buy flood or earthquake insurance only in designated zones
Video tape your valuables for insurance recordsated zones
Buy replacement value not market value coverage for home
Fire insure at least 80% of replacement cost of homeome
Buy special tenant policy, HO-4, if you rentof home
Protect rental properties with an OLT policy
Say no to loan insurance--Credit Life & Disability
Replace expensive mortgage life insurance with term
Raise the deductible on your medical insuranceterm
Buy disability only if in poor health or accident prone
Don't buy specialty health and life insurance policies
When borrowing money, never take 'no' for an answeres
Contact a mortgage broker if you are turned downer
Avoid mortgage prepayment penalties of over 5 years
Think before changing an adjustable to a fixed rate
Don't pay off a low interest mortgage earlyed rate
Never buy or finance extended warrantiesly
Learn when to pay cash and when to borrow
Beware of add-on Interest Rate Quotesrow
Never sign a "Rule of 78" loan agreement
Always use short terms for consumer borrowing
Develop a positive credit profile with the "big 8"
Pay off all perishable purchases on your credit card
Determine if a low interest card is worth the feerd
Use the float if you pay your cards off each month
Use a secured card to rebuild your credit ratingh
Exercise your credit file "Bill of Rights."ting
Pull your credit file now and once per year
Use TRW Credentials Service for maximum credit control
Correct all personal data errors in your credit filel
Have bureau re-verify and correct any incorrect data
Have all missing positive credit data added to your file
Add the rest of the story to your credit file your file
Have credit bureau remove derogatory information
Use small claims court & consumer reporters for disputes
If you are refused credit, get the reason in writingtes
Exercise your right to same good credit as your spouse
Get credit as small business, list yourself as employee
Use a co-signer to help re-establish your creditployee
To rehabilitate credit, use bank loan as security for loan
File Chapter 13 instead of personal bankruptcyty for loan
Eliminate high interest credit card debtuptcy
Use debt shifting to pay off credit cards in half time
Replace all high interest cards with low interest ones
Decline or cancel all credit card insuranceerest ones
Deduct credit card charge in your bank balance for control
Overcome poor credit with a secured credit cardor control
Shop around to find your best deal on a mortgage
Mortgage payments should not exceed 30% of income
Try for an FHA or VA mortgage before a conventional one
Convert points to interest equivalent for comparisonne
Bid on VA repo for a bargain-priced house to fix up
If fixed rate mortgage is over 9-3/4% take the ARM
Convert ARM to FRM only if new FRM is 10% or less
Use GPM for more home with smaller monthly payments
Use an affordable GEM & pay off home in half times
Get a bigger mortgage & create a better investment
Cut total payment by 45% with a 15-year mortgaget
Cut mortgage term in half with extra principal payments
Get a 30-year mortgage & make extra principal payments
Get more when selling home with FHA or VA mortgagents
If interest is less than 9%, don't make extra payments
Don't let prepayment penalty scare you offra payments
Don't make extra principal payments on rental property
Invest the amount of your extra principal paymenterty
Obtain amortization schedule for all your loanst
Never use a mortgage grace periodll your loans
Refinance if new rate is less than 2% of old rate
Borrow your home equity free by investing itrate
Buy a home that will pay off a college loan
Use "PLUS loan" for first $3,000/year of college costs
Turn your property into mini student dormollege costs
Rent property by bedroom on yearly, co-signed lease
Make your son or daughter property managered lease
Use rental real-estate deduction to generate extra cash
Use profits from investment to pay off student loanash
Pay no or low commissionst to pay off student loan
Keep your money out of vacant land
Don't throw money away in time-sharing
Never use life insurance as an investment
Stay away from individual stocks and bonds
Never invest in bonds when interest rates are rising
Don't invest in inflation hedges like precious metals
Don't fall for investment phone pitchesecious metals
Never take the advice of a commissioned salesperson
Don't over-leverage in volatile investmentssperson
Don't buy overly speculative investmentsts
Avoid options as leveraged or hedged investments
Learn to recognize bad investment advicestments
Use the 10% solution to go from paycheck to prosperity
Store 20% of one year's income as attitude moneyerity
"Rule of 72" calculates the doubling power of money
Double your interest with an Asset Management Account
Choose an AMA that gives you maximum legal floatount
Pay all your bills through an Asset Management Account
Choose an Asset Management Account with a debit cardt
Choose an AMA with a low yearly feeith a debit card
Use an AMA for your small business checking account
Invest in stocks, bonds & MMs through mutual funds
Use only no-load mutual fundsthrough mutual funds
Invest in funds with assets between $25mil & $3bil
Invest in good funds with telephone switching3bil
Use the fund family fact sheetsone switching
Open no-load funds using 6 simple steps
Contribute the deductible maximum to an IRA
Use double deduction benefits in retirement plans
Contribute to your retirement plan nowment plans
Choose an IRA with a low trustee's fee, $35 or less
Borrow for your IRA--even if you have the moneyess
Use your retirement plan as instant source of capital
Contribute deductible max. to your retirement planal
Open a self-directed IRA. to your retirement plan
Never invest your IRA in a tax shelter
Use the switching rule in your retirement plan
Withdraw from your retirement account before 59-1/2
Use lump sum averaging when withdrawing for retirement
Use IRA rollover rules to minimize taxesor retirement
Open your rollover IRA in a no-load mutual fund family
Avoid employer-to-employer retirement account transfer
Never annuitize your company retirement plan transfer
Create tax deductions for retirement withdrawals
Recalculate life expectancy to minimize withdrawals
Enjoy your retirement moneyto minimize withdrawals
Use a self-directed annuity
Never annuitize your annuity account
Use tax-free exchange to move your annuity
Invest in an annuity for five years or longer
Use self-directed annuities as estate planning tools
Use self-directed annuities to beat the kiddie taxs
Transfer cash value life insurance to a S-D annuity
Ask questions before investing in a S-D annuityity
Use legal tax strategies, not loopholes or tax cheating
Determine your tax bracket to track your tax savingsng
Cut your adjusted gross income to increase deductions
Complete the 1040 long form, you can only pay less tax
Choose an aggressive tax preparer or none at alls tax
Don't over or under withhold from your paycheck
Prepare your own return at least once paycheck
Time your refund to earn extra interest
Avoid tax penalties, don't worry about interest
When in doubt, deduct itt worry about interest
Sign your return if your income is less than $50,000
File your return later, not earlieress than $50,000
File an automatic extension Form 4868
Don't react to an audit as more than it really is
Delay an audit as long as possiblen it really is
Get the reasons for audit in writing
Take your tax preparer to the audit
Let the auditor see your documents only once
Never part company with your original documents
Don't let the auditor copy your tax fileuments
Learn how to behave in an audittax file
Go beyond the auditor if you are unhappy
Apply the statute of limitations to an audit
Agree only to a limited extension of an audit
Put a stop to the hassle audit should you suffer one
Sell your home to your childrenhould you suffer one
Buy a home with your kids or grandkids
Keep your will up-to-dateor grandkids
Give gifts to your kids to reduce estate taxes
Create an irrevocable trust to protect your estate
Use a dual trust to protect more of your estatete
Give charitable gifts to lower estate taxesate
Deduct your investment plan's expensesaxes
Deduct your VCR or home computerenses
Take Schedule A deductions by combining deductions
Use job interviews to make vacations deductiblens
Start a small importing companyions deductible
Become an "outside agent" for a travel agency
Use an equity loan/mortgage to deduct interest
Qualify your boat or RV for deductible interest
Use your vacation home as a second, not a rental, home
Borrow the money for your IRA and deduct the interest
Pay off high interest debt with low interest debtest
Pay cash for consumer goods, borrow to investebt
Sell appreciated investments to deduct expense
Convert consumer interest to business interest
Make your job a tax shelter via employee deductions
Deduct your employee business mileageee deductions
Deduct your job-related educationage
Deduct a home office when used for your employer
Pay your spouse or kids to help with your jober
Deduct your job-related tools and equipmentb
Deduct your special clothess and equipment
Use Form 2106 for your employee business expenses
Combine employee and miscellaneous deductionsses
Add withholding allowances to increase take home pay
Get next year's refund this yearrease take home pay
Add 1 allowance per each $2,000 of deductions
Turn home improvements into tax deductionsns
Deduct last minute presale home fix-up expenses
Use tax deferral when you sell your homepenses
Don't reinvest profits into your new home
Create a deductible office at homew home
After 55, save $40,000 when you sell your home
Deduct your boat, plane or RVu sell your home
Use third party leasing to deduct recreational assets
Deduct boat or RV interest as a second homeal assets
Turn any small business into a tremendous tax shelter
Begin a small business as a "sole proprietorship"ter
Use "paper" losses to tax shelter job and investment income
Operate your activity as a business not a hobbyment income
Use the business start-up checklist to get started
Profit 3 out of 5 years to qualify for tax deductions
Learn the truth about small business deductionstions
Choose a small business idea that is exciting and fun
Begin marketing immediately to deduct start-up costs
Hire your spouse and create a deductible IRAp costs
Qualify your spouse for Social Security benefits
Hire your kids and make allowances & gifts deductible
Beat the kiddie tax with a children's IRA deductible
Exempt your dependent child with a salary up to $3,000
Use a small business to make your car deductible3,000
Use the biggest tax saving automobile deduction type
Estimate auto expenses using the mileage rate method
Buy an automobile instead of leasingage rate method
Use your personal assets to make them tax deductible
Calculate deductions by percentage of business usee
Use asset-expensing rules for immediate deductions
Take depreciation deductions for assets you ownns
Get more deductions with straight-line depreciation
Use IRS form 4562 for asset-expensing and depreciation
Use business personal assets for sales tax deductions
Keep a 90-day tab of business/personal asset useions
Take deductions for repairs to business assetse
Create a deductible office in your homeassets
Make club memberships deductible through business use
Get deductions for reading, audio and video materials
Take deductions for business travel expensesaterials
Make interest deductible as a business expense
Consider an "S" corporation elections expense
Cut self-employment tax by increasing business deductions
Create a retirement shelter with a small businessuctions
Use a self-directed small business retirement plan
Avoid matching contributions for employees with a SEP
Live free by buying instead of rentingees with a SEP
Get a bigger mortgage to create a better investment
Locate favorable real estate properties investment
Use an MLS computer to sort properties
Use the 10-10-10 formula to buy property right
Use the building block approach to financingt
Avoid new or assumable conventional mortgages
Finance with FHA or VA mortgages for primary residences
Buy investment property with an existing FHA mortgages
Learn the qualification rules before buying mortgage
Use a single payment mortgage to cut monthly payments
Use the Triple Punch Strategy for your first homents