Trek IV: Reaching Prosperity

This is activity 1 of 22 in the Enrichment & Fulfillment in Prosperity Quadrant IV trek.

Trek IV – Reaching Prosperity is a journey for families with negative cash flow and positive net worth. The trek is for families that are retired and are using their net worth to augment their cash flow – their financial assets are in a distribution mode.

The trek focuses on two areas. First, the trek has

Continue reading Trek IV Prosperity: Reaching Prosperity

Enrichment and Fulfillment: Protect: Estate Planning

This is activity 2 of 22 in the Enrichment & Fulfillment in Prosperity Quadrant IV trek.

The terrain: Prosperity Quadrant IV (negative cash flow; positive net worth).
The trek: To use prosperity to enjoy life and give back.
This activity on the trek: Plan your estate and take steps to leave a legacy.
Difficulty rating: Easy to Moderate

Estate planning is loaded with wealth-management pitfalls. The best way to care for your family if something

Continue reading Enrichment and Fulfillment: Protect: Estate Planning

Get a Free Credit Report

This is activity 3 of 22 in the Enrichment & Fulfillment in Prosperity Quadrant IV trek.

Get free credit reports to help you manage debt.

Your free credit reports allow you to check the credit history that others have compiled about you.

How to Manage Debt with Free Credit Reports

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

Continue reading Trek IV Prosperity: Get Free Credit Report

Debt

This is activity 4 of 22 in the Enrichment & Fulfillment in Prosperity Quadrant IV trek.

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

Continue reading Trek IV Prosperity: Evaluate Debt

Reduce Your Credit Card Debt

This is activity 5 of 22 in the Enrichment & Fulfillment in Prosperity Quadrant IV trek.

Do you have credit card debt that has a interest rate that is high (for example, 9% or higher)? If you do, then your savings strategy should be to pay down that debt.

If your interest rate is high on your credit card debt, more than 9% for example, use any extra savings to pay down

Continue reading Trek IV Prosperity: Reduce Your Credit Card Debt

Trek IV: Enrichment and Fulfillment: Debt: Debt Payoff Plan

This is activity 6 of 22 in the Enrichment & Fulfillment in Prosperity Quadrant IV trek.

This step on your prosperity trek…
This is an action step for families that have outstanding debt.
This step will improve cash flow and build net worth by reducing interest expense and debt liability.
Difficulty rating: Moderate

This step will give you some information to help you create a plan to get debt relief as you reduce your debt.

Continue reading Trek IV: Enrichment and Fulfillment: Debt: Debt Payoff Plan

Enrichment and Fulfillment: Debt: Improve Your Credit Score

This is activity 7 of 22 in the Enrichment & Fulfillment in Prosperity Quadrant IV trek.

The terrain: Prosperity Quadrant IV (negative cash flow; positive net worth).
The trek: To use prosperity to enjoy life and give back.
This activity on the trek: To improve cash flow by reducing debt expense.
Difficulty rating: Moderate

You can raise your credit score by paying down debt. Reduce your debt to get a lower interest rate on existing loans

Continue reading Enrichment and Fulfillment: Debt: Improve Your Credit Score

Lower Your Credit Card Interest Rate

This is activity 8 of 22 in the Enrichment & Fulfillment in Prosperity Quadrant IV trek.

Check with your lender to get a low-interest credit card. Talk to your lender to get a lower interest rate if you have a credit card balance and a FICO score greater than 720.

Credit card companies want to keep customers, especially customers with high FICO scores who have outstanding balances. If you’ve paid

Continue reading Trek IV Prosperity: Lower Your Credit Card Interest

 
  Older Entries »