Live by your calendar
Put everything that you will be doing on a calendar that you will reference to on a daily basis. If it’s on the calendar, then you will accomplish it. If you are not sure that you will do it, then don’t put it on your calendar. Over time, your calendar will be your tool for productivity and accountability.
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Training Your Children on Financial Responsibility
Give an allowance equal to twice the age of your child weekly. Ask them to take out 10% of that allowance and give that 10% to charity of their choice. Ask them to take out 40% of that allowance and put that 40% into a savings account. They can spend the rest of that allowance on whatever they want.
Tags: financial health, childre
Contribute $50 to $100 weekly to the Family Fund. All family outing expenses come from the Family Fund. Have the oldest child manage the Family Fund. Whether the family can go out for dinner, sporting events, movies, and other paid events depend on what’s available in the Family Fund.
After your child turns 18, he is to pay rent monthly, starting at $50 a month. The rent increases by $10 monthly as long as the child is in the house. In 8 years, the rent will have increased to $1000 monthly.
Live within one’s means
To the best of your ability, put 20% of your take home pay into Raining Day Fund. Put another 20% of your take home pay into Retirement Savings. Contribute 10% of your take home pay to charity of your choice. You can spend the rest of the take home pay which is 50%.
Start contributing to a 529 plan as early as possible for your children’s education.
Contribute to your 401K plan or SEP-IRA to the maximum possible.
If you have limited income, then set a budget of how much you want to put toward food, clothing, shelter, transportation, entertainment, retirement, rainy day fund, etc. so you can live within the budget constraints monthly.
Being entrepreneurial is the best path to financial freedom. Learn to be entrepreneurial with what you can do. For example, two physicians, one is entrepreneurial and one is not. The one who is not entrepreneurial will not achieve financial freedom even if he makes a physician’s salary. Two plumbers, one is entrepreneurial and one is not. The entrepreneurial plumber will become the boss of others while the non-entrepreneurial one will continue to work for others.
Eating out costs at least twice as much as dining in. If you want to save money, cook at home. If you don’t know how to cook, then learn to cook.
Two qualities of wealthy people are industriousness and thriftiness. If something needs to be done, the person who is wealthy usually does it right away instead of waiting for another day. Someone who lacks the motivation to complete a task right away will most likely not be successful. A thrifty person usually has more money in her bank account than those who are easy to part with their money.
For Relational Health:
Between 1999 and 2016, ruicide rates rose in every state by one and by more than 30% in half of all 50 states. We can curb that trend by being connected. Go to a Lifegroup weekly. A Lifegroup is a group of people who share their joys and sorrows together. They talk about what they’re going through and get support, encouragement, and prayer from others in the Lifegroup.
Connect with a family member at least once a week through phone, video chat, text, or in person visit.
Connect with a friend at least once a week through phone, video chat, text, or in person visit.
If someone rubs you the wrong way when you first meet them, take that as an opportunity for you to grow in your breadth of social adaptedness. Chances are, you will encounter another person who will rub you the wrong way just like this person if you don’t learn to interact with this person successfully. We are given lessons after lessons until we are no longer on this earth. If we don’t learn the first lesson, it will repeat itself until we learn it.
No one can make you feel inferior without your consent, according to Eleanor Roosevelt. This means you can choose to be made feeling inferior or not. This also means you can choose to be a victim of circumstance or not.
The collective wisdom trumps individual intelligence. 400,000 smart people will not be able to get us to the moon unless they work together as a team.
Two is better than one plus one. We all need someone we can count on. If you don’t have that someone, then cultivate the relationship until you have that someone or until you have close friends. Work on the relationship as if your life depends on it because your life does depend on it. The single most predictive factor of one’s longevity is not healthy or wealth, IQ or genes, but positive, life-giving relationships, according to the decade old Harvard study. Single people need not fret. They can have positive, life-giving relationship with close confidants and live long, healthy lives.