Financial Success System | Smart Money Advocate

The process for achieving financial success is utterly simple. It is so simple, some might even consider it boring. However, the results are anything but boring! Follow the steps of our financial success system below to begin your journey toward financial freedom.

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1. Find the Money

The first step to take in your quest for achieving financial success is to "find the money," which simply means to identify available funds within your particular cash flow situation that you'll be able to part with in order to secure your financial future. This step is absolutely crucial, as you will need to "find the money" in order to complete the three additional steps outlined below. For your convenience, we have laid out a blueprint to assist you in this endeavor. Click here to view our simple method to help motivate you to find the money.

2. Build Emergency Cash

Now that you have "found the money," you'll need to prepare for the unexpected by funding your emergency cash reserve. This important component of your financial success system will be called upon to rescue you from rare emergencies, such as to pay bills after a job loss, replace a broken washing machine, or pay for other sudden and rare expenditures. The recommended amount for your emergency cash should be about 3 to 6 months of non-discretionary expenses. However, you may wish to reserve more. The choice is yours. ING DIRECT is an excellent choice to earn a high yield on your emergency cash reserve. ING DIRECT makes $aving money simple! Open your account online today and start earning variable APY. No Fees and No Minimums! If you expect to hold more than $10,000 in your emergency cash reserve, you can earn an even more from a WTDirect high yield savings account.

3. Eliminate Bad Debt

Once you have funded your emergency cash reserve, you next want to begin a debt elimination plan. The main purpose of this plan is to eliminate all high interest debt as soon as possible. The first step in this plan is to put a halt to all additional high interest debt. That means no more credit card charges, high interest personal loans, etc. For simplicity, we will assume high interest as being 9% or greater. Once your credit card debt is eliminated, you will be able to resume using them again, so long as you pay them off every month. NO MORE CREDIT CARD INTEREST!!! This is a crucial component of your financial success system!

The plan is simple: (1) apply your extra cash to the debt with the highest interest rate, (2) once the debt with the highest interest rate is paid off, apply the extra cash and the payment you were previously making to highest interest debt to the next highest interest debt, (3) continue this process until all high interest debt is gone! For access to a debt payment calculator, click here.

4. Start Investing

Now that you have built an emergency cash reserve and eliminated all bad debt from your life, you are free to begin investing the money you "found" in step 1 above. There are many facets of investing to consider, from selecting the right account types to managing asset allocation to choosing the right brokerage company to use. The whole ordeal can be a mind-numbing experience. To greatly simplify this process for you, we have laid out a simple, yet effective, investment plan that anyone can initiate. Click here to view our simplified investment plan designed to guide you to financial freedom.

Constructing Your Financial Success System is Easy!

As you can see, the financial success system we have laid out for you is simple and straight forward. All that is required is a little discipline and an internet connection. Do yourself a giant favor and implement your financial success system today!