The information mentioned in the following is not to be taken as financial advise. The purpose of the information here, is to provide readers a the basic understanding of personal finance.

If your looking for financial advise or solutions to specific financial problems, you should contact a professional financial advisor.

In order to make money and earn a living you need some type of income. This is common done by working a job for a paycheck or earning revenue from a business. A lack of income will limit what kinds of activities your able to enjoy, products your able to own, and services your able to use. I will also leave you having to depend on others for your basic needs and wants.

Income should be looked at as being the first and most important part to the formula when it comes to personal finance.

Common expenses are regular cost needed to survive, maintain a lifestyle, or operate a business / organization.

- To keep your expenses lower then your income.

- Don't miss payments as this may cause your to lose continued use of the service or product. It may also negatively affect your credit score.

- Create a budget that you can follow and gives you a clear picture of how much your able to spend each month.

by Ray Nelson

Debt is accrues when your

- Borrow money

- Make a promise or agreement to pay a balance for a product or service

- Fail to pay on regular expenses or bills.

GOAL:

The first goal is to try to avoid accruing debt whenever possible. If you need to take on debt, try to make sure your have the ability to pay it back.

If you currently have debts you have liabilities against your income and assets.

TIPS:

• Look at ways to pay your debt off faster. This can be done by make extra payments which may mean you will need to increase your income to do.

• Don't miss payments as this may cause your to losing the product, negatively affect your credit score, and lead to legal actions to be taken against you.

• Contact whomever you own to learn options for lower payments or reduction on balance owed with an early one lump payment.

by Ray Nelson

When people invest they are seeking to maintain or increase the value of their assets.

Reasons To Invest:

• Build Wealth
• Plan Retirement
• Upgrade Your Lifestyle
• Obtain Financial Freedom
• Fight Inflation