the stock market and its trends, different approaches to investing in the stock market, tax-protected investment tools, the value of the dollar, bonds, company retirement plans and Social Security.
This is a long list, but isn't your financial health worth the effort?
Principle 12: Plan for the Unexpected
How do you plan for the unexpected? With foresight and discipline, you can have enough resources stored away against emergencies so that, come what may, you and your family are well-taken-care-of. Things to keep in mind:
* Have a liquid savings that is equal to your needs for three months.
* Store enough food for at least three months. You need proteins, grains and water at the very least.
* Learn to garden for vegetables and fruit, and learn to safely process and store this produce.
* Have a three day emergency kit handy at all times, in the house and in the car.
Having these things in place will help you avoid dangerous situations that could result from the sudden loss of a job, electricity or fuel. We are not predicting some kind of cataclysm, but as the old adage says: Better safe than sorry.
Conclusion
These important money principles, if followed, can keep you and your family on an even keel, heading safely toward financial success and health. Obviously they are not get-rich-quick strategies. Rather, they are foundational principles that should inform the way you treat money and educate yourself and your family.
These principles are adapted from One for the Money, a publication of the LDS Church. http://www.providentliving.org /pfw/multimedia/files/pfw/pdf/ 88720_33293_OneForTheMoney_pdf .pdf
Learn more about this author, Jared Garrett.
Click here to send this author comments or questions.
Below are the top articles rated and ranked by Helium members on:
by Amela Piric
Investing time and practice on a daily basis into improving our money management skills pays off well on our long-term race
by Angela Diggs
Managing money effectively is important if you want to be financially secure. When you take care of money, it takes care
by T.C Leonard
The vast majority of us have taken a huge hit to our retirement accounts, and this is a direct result of poor money management
Not only can managing your money be difficult, it can also be very stressful. Instead of stressing out about it, though,
Handling your finances can sometimes be a difficult task, but not impossible. There is no need for being a financial wizard
View All Articles on:
Money management tips
Add your voice
Know something about Money management tips?
We want to hear your view.
Write now!
Cast your vote!
Click for your side.
Featured Partner
Teachers Without Borders (TWB)
TEACHER CONNECTIONS WRITING CONTEST: November 18 - December 9, 2009 Teachers Without Borders has partnered with He...more
hide