Project Debt2Freedom

Okay now you have some notes on paper right? The next step in Project Debt2Freedom is to fine tune your goals. If you are truly here to better your chances at Building Wealth and Saving Money than the following is of interest. Everyone has a different set of goals and potential hinderances. Mine were similar to what was listed in the earlier post buch much lengthier :)

Now here's where it begins to get difficult. Give each goal a rank from most important to least. This will be of great importance when you create your upcoming budget. Now, heres where I give you the first item of importance. The highest ranked item MUST be Eliminate Credit Card Debt. Of any item on your list, this must always rank the most important. Unless some bookie is knocking on the door right now- this must be the number one priority for your success.

I will save the details regarding the importance of Eliminating Credit Card Debt for another post, but believe me, it is top priority regardless of your situation.

Now rank your hinderances from most likely to cause difficulty to least. This will be entirely based on your own situation. You need to decide what is most important now and what may become an issue in the future. Don't worry if you are unsure about anything; no one can truly predict the future.

This list you have now should have only taken a short amount of time to rank and will become the foundation of your personally planned Project Debt2Freedom.

This is where you will notice that my method for you differs from any others you will find on the net. For one; it has worked for me and it will work for you (anyone at all, even a Stay at Home Mom) and most importantly-

It costs nothing.

On to the next post :)

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Develop your Financial Success Plan

The first thing you need to do is develop your plan. For future posts we can refer to this as "Project Debt2Freedom". This will lay the foundation for your future success. This does not need to be a complicated process, simply a few notes jotted down on paper. This will be the beginning of your overall plan of approach. It is important you write these down as you will need to reference your notes repeatedly during the rest of the process.

First off jot down your goals. These should be the items that are foremost in your mind right now. They can be as simple as;

Eliminate Credit Card Debt

Contribute to Retirement Savings

Pay off Loans

Develop other sources of Income

Buy a house or renovate your existing one

Retire Early

Develop a new Career

Etc Etc

These notes will reflect your personal goals. Now we also need to list the things that could prevent you from achieving these goals. They may be;

High Debt Load

Job Loss

Potential Job Loss

Potential impending expenses

Etc etc

Take some time to reflect on this part. The more items you list, the greater chance you can design the rest of your plan to achieve success. This should take at least an hour to accomplish. I found that listing these items at the beginning of a simple notebook to be a great help. This notebook will serve as your Diary of sorts, allowing you to quickly reference all aspects of your plan. It will also make it much easier later to see how far you have come in your quest to Save Money and Gain Wealth. Stay tuned for the rest of Project Debt2Freedom

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How to Gain Wealth- First Post

This is the first post for what I hope will be a useful tool for people similar to myslelf. Lets face it, everyone wants to Save Money and Gain Wealth. If not, you wouldn't be reading this. I suppose I could have titled this Gain Wealth For Beginners :)

This Blog will doccument the different methods and techniques I have used, or am currently testing, to Gain Wealth and plan for Financial Success.

A little background on me...

I have a career in the field of Alternative Energy which consumes much of my time. I enjoy learning as much as I can about topics that interest me. In the past year I have; bought my first home, reduced my personal debt, eliminated high interest credit card debt, increased my retirement savings, and began investigating many other methods of Building Personal Wealth.

Currently I have no intention of replacing my current career with any other incomes that I will share with you, but the option of having a "safety net" in place seems like a very good idea to me. With plant closures, layoffs, and these unstable economic times making front page headlines daily; methods of Saving Money and Gaining Wealth seem very attractive.

In the forthcoming articles I will attempt to doccument the techniques which have worked out well for me, as well as which have not.

This list of techniques will be on-going and will likely take some time before I can share all the relevant techniques with you. I have tried many and wish to share my experiences with anyone willing to achieve success. Some of the upcoming topics will be;

Financial Plan

Budget

Credit Card Debt

Saving Money

Investing

Make Money Online

Career

RRSP

Mortgage

Insurance

As I said this will take some time to get these topics covered so stay tuned :)

Check out my Green Energy related Blog here

Update: View Devolp Your Financial Success Plan

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