Money Mastery Newsletter October 2020
If you don’t plan for emergencies, you can be blindsided by them. If followed, the ten steps outlined in the Money Mastery® program will help you prepare for, recover, and thrive when emergencies such as illness or long-term unemployment strike.
The Ten Principles of the Money Mastery® Program
Ten guiding principles are designed to help clients understand the psychology of spending, the importance of savings, and how to track money; the Ten Principles are a structure for taking control. In all, the program teaches you how to get what you want rather than to survive.
- Spending is emotional
- When you track your money, you control it
- Savings is actually delayed spending
- Power down your debt and power up your fortune
- Know the rules 6. The rules are always changing
- Always look at the big picture
- Organizing your finances creates additional wealth
- Understanding taxation allows you to keep more of your money
- Money in motion creates more money
Vision and Benefits
The Money Mastery® system is a personal financial literacy program to help couples and individuals eliminate debt, reduce tax liability, and create a predictable retirement. Its ultimate goal is to help you build wealth on your income.
Planning Unexpected Money
Unexpected money that comes to you, such as a stimulus check, was not accounted for in the plan. Therefore, we should handle this extra boost in the same manner as regular income. To get the maximum benefit from this boon, divide the unexpected income with the 20/20/60 rule
The Money Huddle is designed for an open discussion about family financial issues.
It is a fifteen to thirty-minute meeting between spouses or partners who participate in the plan. When participants check in with each other, there is greater cooperation, accountability, and adaptation to meet the family’s goals, which were set out in the spending plan. The greatest success is typically achieved when the meetings are held weekly and in a neutral location, such as a restaurant or where interruptions are less likely.
Your Money Coach
Personal coaching is available in monthly one-on-one hour-long sessions with a professional money coach to help you tailor your Money Mastery® tools and offer guidance. Sign up for any of these options and access more information at www.moneymastery.com .
