Читать книгу Family Financial Freedom - Floyd Saunders - Страница 6

Most people become better savers and investors by doing three things. First they set goals, second they get a financial education and third they start to apply what they have learned. By reading this book you are at least getting the start of a financial education. You may also want to read one or more of my other books, including ”Figuring Out Wall Street, Consumers Guide to Financial Markets”, it’s available from my web site:

 http://www.floydsaunders.com

 Amazon.com

 Barnes and Noble.com.

 and a number of other online booksellers.

Once you have set your goals and learned at least the basics of personal finance, you can start to make sound financial decisions. This means knowing where to get information, how to use it and then making decisions. If you have the ability to earn money, the discipline to save it, and are willing to take some time and effort to plan for sound investments decisions, you and your family can become financially independent. And you can do it in any economic conditions. Planning for your financial future requires:

1 Effort on your part

2 Sound practical financial information

3 Ability to apply proven concepts

4 Willingness to seek the help of experts when necessary

The process of financial planning requires you to do two additional things. First, learn how the economic environment affects your life, and second be concerned about your own personal financial plans such that you set goals, learn more and apply what you learn.

Predicating what will happen with the economy is difficult even for professional economists. Ask the 25 leading economists for their forecast of the next year’s economic events and you will likely get 25 different opinions. Maybe even 26!

Everyone wants to see a strong growing economy, but there are many forces currently work against affect your ability to prosper. As you plan your financial future, you should be concerned about:

 Jobs - employment drives the US economy and job growth is the key to an expanding economy. The unemployment numbers for the U.S. economy in 2011-12 have been staggering. More than 10 million Americans are officially unemployed, fully 8.6% of the workforce. The unofficial number is much more likely 50% higher, with as many as five million giving up looking or only working in part-time, temporary jobs. Keep an eye of these numbers as it affects your life.

 Inflation - Whatever the rate of inflation is, it erode the earnings and spending power of your dollar. You need to invest at a higher rate than inflation in order to get ahead.

 Taxes - Most of us work three hours a day, just to pay all of the taxes on our earnings. We have little control over increases in taxes, other than voting for elected officials willing to reduce our tax burden. Yet, many Americans pay less than their fair share in taxes, simply because they take advantage of every deduction, loophole and tax shelter available. You can do more to know how to save money on your taxes.

 Interest Rates - How much will changes in interest rates affect your plans? For example, as interest rates rise, the cost of a mortgage goes up and fewer people can qualify for loans. Then fewer homes are bought, so the government works to keep interest rates low on home mortgages. But credit cards can be a different story. The average interest rate on credit cards is more than 16%, check this web site: http://www.indexcreditcards.com/credit-card-rates-monitor/ to get more information. Carrying just a small balance on your credit cards can end up costing you hundreds of dollars.

You may not be able to influence these major trends, but you can stay informed and plan for your financial security, while working around many of the roadblocks that may stand in your way. Family Financial Freedom is about taking charge of your finances and learning how to be a better guardian of your money.