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LET’S PRACTICE
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19. I have a personal budget that I stick to, even if it means giving up something want. 10 9 8 7 6 5 4 3 1 20. Throughout my income earning years, I will work to increase my job security and earnings potential by learning new skills and improving old ones. 10 9 8 7 6 5 4 3 2 1 My score: ______ 160-200. You have your financial coupledom priorities straight. You approach wealth-building with the candor and discipline it deserves. If your fiancé/fiancée has the same values, you could be a dynamic wealth-building duo with a high probability of a stable and successful financial future. If their score is substantially lower than yours, you may experience financial friction in your marriage. Before you say “I do,” have an open and honest discussion with your future spouse to make sure you see eye-to-eye about the financial matters you believe are most important to your shared future. 100-159. Your commitment to coupledom financial success may need a bit of bucking up. A spouse with financial discipline and clear financial goals may be just the ticket to inspire you to greatness! Work with your future spouse to identify the specific short term and long term financial goals of your coupledom. Make a mutual commitment to building the savings habit and work together to create a household budget that furthers those goals. Discuss risk tolerance and investment goals. If one spouse-to-be’s risk tolerance is substantially lower or higher than the other’s, this could be a wake up call! Identify your weaknesses and work together to tackle them. 60-99. Financial success and stability isn’t something that “just happens.” You have to work at it. In fact, building wealth is like a second job. It appears you may not have the desire, effort level, or discipline needed to successfully manage your personal finances and build wealth. How will this impact your financial coupledom? Has a lack of financial goals impacted your motivation to plan and save? Do you lack the discipline you need to save money or pay your bills on time? You’d better rethink your approach to money management. Low credit scores, financial stress, and living pay check-to-pay check are romantic buzz-kills. Be honest with your future spouse about your money management challenges before you walk down the aisle. 20-59. OK, hit the financial future reset button. Start with incorporating one or two personal money management skills or strategies each month. Begin with creating a budget. Open a savings account. Take on a second job if you are not earning enough money. Take a class that will build your human capital value. Examine your spending habits for waste. Start aggressively paying down your credit card debt. Until you get your financial act together, you will not be a valuable member of a wealth-building team. Your future spouse should be wary of marrying you. If you both have low scores, make a point to learn money management skills together. Set short and long term financial goals and begin building wealth together. PRODUCT PREVIEW 2
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