In the News and on TV!

Kate Phillips — Wed, 04 Mar 2009 11:23:34 +0000

A Multi-Millionaire’s Advice on a Spending Plan Tim Robinson with King5/KongTV (NBC affiliate) interviewed me about some Tips for Financial Health. Check out the video! It was really interesting to see how things get chopped and edited down(logically and necessarily, because they are NOT going to run the whole 20 minute interview! Not even mass murders get that much time!) I love to “give credit where credit is due,” and I must say (as I did in the interview, but it was edited out!) – the “Play Fund” suggestion is one I got from T. Harv Eker, creator of the Millionaire Mind Intensive. Harv recommends dividing your discretionary income equally among several categories, such as: A Give Fund for your favorite church, charities or other organizations or causes that you wish to support. A Financial Freedom Account of money that you invest until you are Financially Free. An Education Fund to support your own learning and growth. This could be college, personal development courses, or, as Harv hopes, Peak Potentials business and self-improvement courses! A Savings for Spending Account in which you save up for special purchases or perhaps a down payment on a home. A Play Fund, that you get to spend on WHATEVER YOU WANT without ANY guilt! The Rest goes to pay your Necessities: your mortgage or rent, your food and gas, your insurance, bills and other necessities. The goal is to increase your income until your Necessities are only 50% of your income (or less!) The Key with the Play Fund is to work it into your whole Spending Plan. It is not unconcious, compulsive “spending binge” money – you’ve planned for it and budgeted for it! It is simply money that you have “planned” to spend on… whatever you like! Healthy Spending is like Healthy Eating! A healthy Spending Plan is very…

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In the News and on TV!