Financial Dojo was designed and created to help you achieve your financial goals. But we realize that people learn in different ways. So, below we’ve provided five ways and means for you to get the most from this web site and its information.
1. Choose Your Wealth Belt Level
If you are looking for a guided approach to managing your personal finances and increasing your wealth, then choose the wealth belt level that fits your current financial situation. The wealth belts will be covered in the next section of this guide.
The wealth belts reflect where you currently stand in becoming a master CALM Approach wealth ninja. As mentioned earlier in this orientation, you should think of the CALM Approach as you would Judo, Taekwondo, Jiu-jitsu or other martial arts where belts mark your progress. The CALM Approach is the thing you want to master, and there are certain steps, training, knowledge, and mindset that go into reaching the top.
Each wealth belt level has its own introductory mini-course, and collection of content that apply directly to it. So you’ll want to first read the mini-course that applies to you before going full steam ahead. It will give you direction and guidance that will serve you well.
The reason for the belt levels is because not everyone is in the same financial position. The belts make it easier for you to hone in on just the things you should know and steps you should take to improve your finances and reach the next level.
If you find that your starting wealth belt level is higher than the White Wealth Belt, I recommend that you at least review the mini-course for the belt that is one notch lower than yours. This way, you can be sure that you haven’t missed something that could further solidify your financial foundation. In fact, go one better and read the mini-courses for all belt levels below yours.
2. Pick a Classroom
If you don’t want to follow our time-saving, wealth-building approach using the wealth belts, you can dive right into one of the classrooms — spending, saving, investing, earning. While the information for each wealth belt only applies to that belt, the classrooms contain every piece of content related to that broad category.
So the information that you review by perusing the classrooms has also been assigned to one or more of the wealth belts, too. Here’s what you’ll generally find in each classroom:
The Spending Classroom provides information on credit repair and debt. This includes cleaning up your credit file and reports, improving your credit scores, rebuilding your credit after experiencing a hardship, reducing or eliminating debt, and choosing the best credit cards.
The Saving Classroom deals with household budgeting and saving money. This includes putting together a home budget plan, cutting back on excess, and getting the best deals on all kinds of products and services.
The Investing Classroom covers retirement planning and choosing investments wisely. In this section, we will discuss setting and tracking your retirement goals, and understanding investment options such as Roth Individual Retirement Accounts, Traditional IRA’s, 401(k)s and other retirement plans, mutual funds, and more.
The Earning Classroom provides tips and strategies for creating additional income streams using your knowledge, skills, passions, and talents. We’ll show you how to easily tap into the entrepreneurial corner of your brain.
The only recommendation that I want to make regarding the classrooms is that if you’re in deep debt, then spend the vast majority of your time in the Spending and Saving Classrooms. That’s because before you can build wealth, you must get debt under control.
3. Utilize Wealth-Building Help Tools
There are many tools that can help you in making decisions about various aspects of building wealth, and tracking your progress over time. Some of them are available online at no cost. For example, there are mortgage calculators that will quickly give you an idea of what your mortgage payments would look like for different home prices and interest rates.
You can also locate 401(k) calculators like this one at http://www.401kcalculator.org/. It will allow you to enter details so that you can determine how much you need to save for retirement. There are other tools that may cost you a bit of money because of their unique features and ability to store and track all of your banking, investment, and other account details. Actually, here’s a good one that will do it online for free – Mint.com. We will point out additional free and paid tools in various articles.
The broader point is that you should become aware of such tools and take full advantage of them. At a minimum, you should use them at least once a year to get a snapshot of your current wealth position, and to analyze what it will take to reach your goal over the next year.
4. Pay It Forward
One of the best gifts you can give someone is knowledge. If you have kids, take what you learn from this site and teach them how to be more responsible with money. You’ll find that the concepts will stick with you longer when you explain them to other people.
If you have friends or associates who might benefit from our personal finance tips, forward our free reports to them. Our goal is to help everyone master the art of managing their money. Plus, you’ll create good karma which has a way of cycling back to you when you need it most.
5. Seek Out a Mentor or Accountability Partner
If you decide to follow our suggested strategies, you’re going to develop a long term plan to achieve your financial goals and life dreams. You should share these goals and dreams with someone you trust. Having such a person to push and guide you is always a good thing. He or she could be a friend, life coach, business associate, or financial advisor. When you get lazy or down, they will lift you up. Of course, we’re here to help, too. But we don’t know your specific financial situation.
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