5 foundations
what is the first foundation
Have 500 or more in a emergency fund
if billy has 500+ in his checking how much debt will he have after spending 350
none he’s still 150 above debt
when should you start saving
now
what % Of people are considered broke
11.1%
1
budget
What is the second foundation
Get outta and stay outta debt
If Kelly buys a bag but only has 25 in her account but the bag is 50 and she puts it on her card how much debt will she have
Should you buy things with cash or a credit card
cash as much as you can
What % of people are considered normal
73%
2
Save
What’s the 3rd foundation
Pay for you car in cash
If bob buys a car in cash for full price how much debt will he have
none he payed cash
You just got a rise it’s completely changed your life style, you want a new car but there’s not a reason and you dont have much saved maybe 30,000 the car is 90,000 your raise was only 20,000 a year should you get the car
no, even though 30,000 is a very good amount 90,000 car is just not smart.
What % of people are considered debt free
23%
3
spend
Whats the 4th foundation
pay for collage in cash
A family buys a house for 250,000 total but only had 120,000 to put down and 170,000 total . How much debt are they in
-80,000 and
What better cash for collage or lones
well in 95% of cases loans are the only way somthing like collage is available but if you CAN pay cash you should.
What % of ppole are wealthy
1-5%
4
Give money over time
What’s the 5th foundation
build wealth and give
you are driving and hit a fancy car, you are at fault and they're insurance is asking for 300,000. Your insurance company is not paying all of it but you only have 80,000 your insurance will pay 225,000 the rest comes from you.
your not in debt but your close
You’ve made it in life, but your brother is struggling he’s trying to to the right thing and keeps grinding but hes still scrapping by he asks for sum help. What should you do.
your ment to build wealth and help out, not giving handouts but money is a tool and to the people that do right and try to survive but can’t or barely can, helping them is not a handout.
What % of people are bankrupt
.16%
5
Earn