Download - Numbers to Live By
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NUMBERS TO LIVE BY
Lifetime Budget Planning
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10-25-10 PLAN Bill Bullington
http://www.bullingtoncapital.com Spend no more than these percents of
your income on …10% Automobiles25% Housing
Spend at least this percent of your income on:10% Retirement
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20 – 10 RULE ON CREDIT Vince Digirolamo
VP National City BankBank made money every year for 164 yearsBought by PNC in 2008
Credit – ability to repay Capacity – willingness to repay Collateral – second way out of the loan
Borrow less than 20% of yearly net income
Borrow less than 10% of monthly net income
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BABY STEPS Dave Ramsey
http://www.daveramsey.com Small, smart steps will get you to
securityA place where your money is working for
youNot you working for your money
Be Radical In decision making, not spending
Be IntentionalOn paper, on purpose
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STEPS $1000 Emergency Fund $0 of Personal Debt 3 Months of Living Expenses 10 % in a Retirement Account 15 x Annual Salary in Insurance 20/20 Down Payment/Life of the Loan 50/50 Expenses/Investments
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ADDITIONAL THOUGHTS What advice is missing from these lists? Why don’t more people follow these
plans? What will keep you from budgeting
wisely?
Be HonestBe specificBe thoughtful