The 7 Step Financial Plan

This is the 7 Step Financial Plan or the Wealth Plan

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Step 1: Lower Your Monthly Budget to get a Surplus (cut back like a maniac)

Step 2: Increase Your Monthly Income (2nd or 3rd job)

Step 3: Build an Emergency Fund of $5,000

Step 4: Eliminate each debt 1-by-1 (smallest to largest)

Step 5: Invest 20% of Net Income into TAX SHELTERED retirement

            accounts (401K, IRA)

Step 6: Accelerate your mortgage payments until you're mortgage free

Step 7: Invest, teach others, be charitable!