BY: ALYSSA PETERSEN

The Four Lawsof Debt Free Prosperity

LAW # 1Tracking- the first law of debt-free

prosperity.

You have to measure it before you can manage it.

When performance is measured, it improves.

LAW # 2Targeting- the second law of debt-free

prosperity. Setting goals gives you direction in

obtaining your financial targets. Goals must be:

Written Your own Positive

LAW # 3Trimming- the third law of debt-free

prosperity. Live on less than you earn so you can have a

surplus to get you out of debt and invest in assets that appreciate.

No one, regardless of income, can be financially successful unless they live on less than they earn.

Pay yourself first, and then live on what's left over.

LAW # 4Training – the fourth law of debt-free

prosperity Training is necessary to be prepared to

seize financial opportunities as they arise.

Spend on assets that generate wealth, not those that consume wealth.

INSIGHTS I GAINED FROM READING THIS BOOK

In order to be debt-free you must spend less than you earn.

No matter how little you earn it is possible to remain debt-free and prosper.

LAWS I HAVE MASTERED AND SHARED WITH PEOPLE

Tracking – I was able to share with my parents.

HOW THIS INFORMATION WILL HELP ME WITH FUTURE FINANCIAL PLANNING

By mastering these laws while in high school I can be better prepared to start my career and remain debt-free and prosper throughout my life.

Work cited

BibliographyHarris, B., Coonradt, C. (2001). The Four Laws

of Debt Free Prosperity. Bountiful, Utah: Chequemate International.

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