The 5 P's of Money Management: Workbook Edition

By Dimitris Petros Magemeneas

CREATE A $2,500 FINANCIAL PLAN FOR ONLY $40 - BUY THIS BOOK!

Money Man has invented the world's first, simple, step-by-step system (see below) that ANYONE can use to reach financial success; and it's the ONLY system you'll ever need for a lifetime of setting and achieving your financial goals!

5 SMART STEPS TO MONEY SUCCESS:

1) DOCUMENT CASH FLOW (Income/Expenses)
- Take inventory of your current, actual income and expenses.
Are you running a monthly surplus or deficit?
Are you saving money every month?
Are you aware of how you're spending your money?
Do you understand the impact of taxes on income?

2) DOCUMENT NET WORTH (Assets/Liabilities)
- Take inventory of your current assets and liabilities.
The higher your net worth, the more financial freedom you have.
Do you understand Short-Term (ST) vs. Long-Term (LT) financial accounts?
Can you differentiate between "good debt" and "bad debt"?
Are you investing systematically?
Do you have too much bad debt?

3) DETERMINE S.T. & L.T. GOALS (Make them S.M.A.R.T.!)
- Ensure your goal is Specific, Measurable, Attainable, Relevant and Timebound
Analyze cash flow and net worth to create appropriate SMART goal(s).
You should create and update SMART goal(s) on an annual basis.
Short-term goals are to be achieved within 12 months.
Long-term goals take over 5 years to achieve.
(ask me how to make it even S.M.A.R.T.E.R.!)

4) DECIDE SPENDING PLAN
- Review current expenses, and decide your plan for next 12 months
Analyze 3 expense categories and SMART goal(s) to plan spending.
Monthly plan should also include how much to put into savings.
Ideally, Income should be at least 120% of Expenses.

5) DESIGN INVESTING PLAN
- Review financial accounts and decide investing strategy for each one
Bank accounts are best used only for short-term savings (under 12 months**)
[**Especially in these low-interest-rate times!]
Tax-advantaged accounts & trust (or TOD) accounts are best for long-term investing.
Each investing account should incorporate a pre-determined strategy.

REMEMBER, YOU CAN ALWAYS BE SMARTER WITH YOUR MONEY, MAN!

• Format: Paperback
• Language: English
• ISBN: 1712301470
• ISBN13: 9781712301470
• Release Date: November 2019
• Publisher: Independently Published
• Length: 38 Pages
• Weight: 0.32 lbs.
• Dimensions: 0.1" x 8.5" x 11.0"