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Debt Free Prosperity - College Paper

Debt Free Prosperity

The Four Laws to
The object of this book is to teach people how to manage their money in order to stay out of debt and plan ahead for the future. This book goes over several suggestions or “laws” but focuses on four main ones.
To work with the other “laws” you must first learn and master the first which is “Tracking” daily expenses. By doing this one sees how to ease financial problems by finding money that slips through the cracks. If one pays attention to every detail of what they are spending they can not help cutting back on frivolous spending when they see how unnecessary spending money on that really is.
The second law is “Targeting” your goals. By targeting your goals you will ...

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you set up a standard of living which is lower than your level of income rather than at the limit of credit worthiness. Once one starts living on less than they earn they pay themselves to accelerate debt payments and then to build wealth. If one takes out, at the beginning of the month, 5%, 10%, or even 15% identified as surplus to reduce debt that forces one to live on what is leftover.

The fourth and final law is “Training”. This law deals with investing money after out of debt so it may earn interest and set one up for retirement. If a person invests their money wisely when they retire after working hard their whole lives, they could live off the interest alone depending on how much they invested in the first place. What is meant by the word training is that people should learn about all the different kinds of investments and which one or several are best for them.

The basic, overall views of all four laws are thus as follows:
The first law: track daily ...

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Debt Free Prosperity. (2005, March 17). Retrieved April 28, 2024, from http://www.essayworld.com/essays/Debt-Free-Prosperity/23844

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PAPER DETAILS

Added: 3/17/2005 10:24:24 AM
Category: Miscellaneous
Type: Premium Paper
Words: 483
Pages: 2

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