Shoremates,

If you love this book, you can pick yourself up a copy right here.

Action Items:

1.  It’s time to track your net worth.  Either go to moneyhoneyrachel.com/free and download her free template, or write down all your assets in one column, and your liabilities in another column.  Then subtract liabilities from assets and you’ll get your net worth!  By tracking this at the end of each month, you’ll slowly but surely see the progress which will help motivate you.
2. Get yourself a pen and paper and draw four buckets.  It’s time to label them and write how much you want in each bucket.  #1 is emergency savings and is at $1000/month.  #2 is 4.5 times your monthly expenditures.  In mid 2019, no one knew how different the world would be in 2020 with COVID.  Millions of lives are impacted.  Hopefully this never happens again, but this is to ensure your family is good to go in case you’re fired or transition to a different job. The third bucket is for other things you want just as a house renovation or another vehicle.  Brainstorm how much what you want greater than year off will cost, and write this number on the bucket.  That’ll be your target number. 

Always, Always Remember,

You've got this!

-J.D. Elliott

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PPS: Want help getting your finances in order?  Check out more at thelifenavigator.com