The terrain: Prosperity Quadrant II (positive cash flow; negative net worth).
The trek: To build net worth.
This activity on the trek: Begin your trek.
Difficulty rating: Easy
Net Worth (Quadrant II) is a trek for families with positive cash flow and negative net worth.
The objective is to achieve a positive net worth.
We’ll focus on several areas:
saving your money
Continue reading Net Worth: Begin Your Trek to Save Out Of Income, Reduce Debt, Protect Your Income and Assets and Live Within Your Means
The terrain: Prosperity Quadrant II (positive cash flow; negative net worth).
The trek: To build net worth.
This activity on the trek: Explore how to save from income.
Difficulty rating: Easy
This portion of the trek has activities to save from income.
Activities to Save From Income
get the 401(k) match from your employer
The terrain: Prosperity Quadrant II (positive cash flow; negative net worth).
The trek: To build net worth.
This activity on the trek: Get the 401(k) match from your employer if your employer offers a 401(k) and provides a matching contribution.
Difficulty rating: Easy to Moderate
If your employer offers a 401(k) plan and provides a matching contribution up to
Continue reading Net Worth: Save From Income: Get the 401(k) Match
Disability insurance is a necessity during your working years. In fact, you are more likely to become disabled than die prior to retirement. If you become disabled your income and cash flow are in jeopardy unless you have disability insurance.
Many employers provide disability insurance as a benefit. If your employer offers disability insurance check the
Continue reading Trek II: Get Disability Insurance
You can get a free credit report to help you manage your debt.
Your free credit report will allow you to check the credit history that others have compiled about you.
Manage Debt
Go to annualcreditreport.com once every four months
Each time you go alternate between these 3 companies: Experian, Equifax and Trans Union. You can get a free
Continue reading Trek II: Get Free Credit Report
Your net worth consists of two components: assets and liabilities. Liabilities are the debt that you owe others. And liabilities, debt, comes in all shapes and sizes.
One of the most profound questions is: How much debt is too much?
To determine if you have too much debt begin by looking at your short-term debt – credit
Continue reading Trek II: Evaluate Debt
The terrain: Prosperity Quadrant II (positive cash flow; negative net worth).
The trek: To build net worth.
This activity on the trek: To improve cash flow by reducing debt expense.
Steps you should complete before beginning this step: Get the 401(k) match
Difficulty rating: Moderate
You can raise your credit score by paying down debt. Reduce your debt to get
Continue reading Net Worth: Debt: Improve Your Credit Score
