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More About This Title Winning the Cash Flow War: Your Ultimate SurvivalGuide to Making Money and Keeping It
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Discussing everything from effective budgeting to breaking into the lucrative and fulfilling world of self-employment, nationally renowned cash flow expert Fred Rewey addresses the financial problems everyone faces and then offers a practical guide to turning the corner from paying everyone to getting paid instead. People can find themselves so bombarded by bills, from credit cards to mortgages to college tuitions, that they find it impossible to focus on truly solving their money woes, once and for all. Winning the Cash Flow War provides readers with tools and knowledge they need to fight back. His unique step-by-step battle plan reveals how anyone can dramatically transform their attitude about finances, and shore up their monetary well-being, by learning to see money not so much as a goal but as a tool—a tool of self-empowerment that virtually anyone can master.
Fred Rewey is one of today’s most sought-after speakers on entrepreneurism and financial success. President of the American Cash Flow Association and publisher of the American Cash Flow Journal, Rewey is seen by millions each month on television, and has helped people at all financial levels take control of their lives and turn their cash flow into a net positive.
English
English
Foreword xv
Robert G. Allen
Preface xix
How to Use This Book xxix
Part One: Evaluating Your Troops 1
Chapter 1: Welcome to the Cash Flow Academy 5
Developing Goals and Objectives: Writing Your Battle Plan 6
Five Stage Program for Setting Financial Goals 7
Staying Motivated 9
Never Forget That You’re Fighting for Financial Freedom! 11
It’s No Longer a Private Affair 12
Marching Orders for Chapter 1 12
Chapter 2: Planning Your Defense: Basic Training 13
Planning Your Defense: Basic Training 13
Record-Keeping Systems 14
Checklist for Good Records 17
What Sort of Records Can I Toss Out? 18
If You Really Want to Keep Some Detailed Records 19
What You Need in Your Home Cash Flow Command Center 20
Marching Orders for Planning Your Defense: Basic Training 21
Chapter 3: Financial Assessment Test 23
Checking Up on Your Financial Well-Being 23
Net Worth Test 24
Calculating Your Net Worth 27
Cash War Net Worth Worksheet 31
Are You “Okay” or Do You Want to Do Better? 35
Marching Orders for Financial Assessment Test 36
Chapter 4: Understanding the Importance of Budgeting 37
Budgeting Basics 39
The 10 Percent Savings Rule 48
Marching Orders for Understanding the Importance of Budgeting 51
Part Two: Understanding the Battlefield 53
Chapter 5: Understanding Credit 57
The Rules of Engagement 58
War Games: Credit Cards 63
Action Items for War Games: Credit Cards 64
The Best Way to Get Credit Card Debt Under Control: Pay Cash! 65
How to Improve Your Credit Rating 67
Credit Ratings and Scores: Then and Now 67
How Credit Scoring Works Today 68
Marching Orders for Understanding Credit 71
Chapter 6: Understanding Banking 73
How Do Banks Make Money? 74
Three of a Kind 74
What Do I Want or Need from a Bank? 76
Should I Be Doing My Banking Online? 79
Marching Orders for Understanding Banking 82
Chapter 7: Understanding Mortgages 83
Buying versus Renting a Home 84
Got Debt? 85
Lease Options 86
The Benefit of a Lease Option 87
Different Types of Mortgages 89
Which Mortgage Program Is Right for Me? 91
Marching Orders for Understanding Mortgages 92
Chapter 8: Understanding Personal Loans 93
Credit versus Loans 94
What Is a Personal Loan? 94
Why Would You Consider Applying for a Personal Loan? 95
The Difference between Lump Sums and Credit Lines 96
What to Look for in a Personal Loan 99
“Payday” and “Cash Advance” Loans Are Never a Good Option! 101
How Payday Loans Work 101
Marching Orders for Personal Loans 102
Chapter 9: Cars and Car Loans 103
Defensive Buying 103
How Much Car Do You Really Need? 104
What Type of Car Should I Be Looking At? 106
Should I Buy or Should I Lease? 109
A Few Reasons Not to Use the Car Dealer When Financing a Car Loan 109
How to Get the Best Deal on Your Car Payment 111
Marching Orders for Cars and Car Loans 114
Chapter 10: Understanding Insurance 115
Do I Really Need Life Insurance? 116
Different Kinds of Life Insurance 117
Do I Need Home Insurance? 120
Renter’s Insurance 122
How Much Car Insurance Do I Need? 123
Get All Available Discounts 124
Do I Need an Umbrella Policy? 125
How Umbrella Policies Work 125
Marching Orders for Understanding Insurance 126
Part Three: Mastering the Rules of War 127
Get Ready to Take the Next Step 130
Base Camp for Mastering the Rules of War 133
What’s This Going to Cost Me? 134
Okay, Soldiers, Mount Up! 135
Chapter 11: Accelerating Payments 137
Should You Accelerate Payments on Your Mortgage? 139
Credit Card War Games 142
Marching Orders for Accelerating Payments 145
Chapter 12: Calculator Clarity 147
Financial Calculator Boot Camp 148
Figuring the Balance on Your Mortgage 151
Credit Cards 154
Investing and Your Return 155
Marching Orders for Calculator Clarity 156
Chapter 13: Taking Control of Your Retirement Accounts 157
Retirement Accounts 159
How to Figure Out How Much Money You’ll Need for Retirement 172
Retirement Cash Flow Worksheet 174
Marching Orders for Taking Control of Your Retirement Accounts 181
Chapter 14: Preparing to Pay for College 183
Estimating College Costs 184
Different Strategies for Saving for College 186
529 Plans 187
Coverdell Education Savings Account 189
Prepaid Tuition Plans 190
Savings Plan Trusts 191
Marching Orders for Preparing to Pay for College 191
Chapter 15: Playing the Market: Stocks, Options, and Mutual Funds 193
Different Types of Investments in the Stock Market 196
Large-, Mid-, and Small-Cap Stocks 197
Options: Here’s Where It Gets Really Involved 204
How to Avoid Investment Risk 205
Marching Orders for Playing the Stock Market 207
Chapter 16: Bankruptcy and How to Avoid It 209
What Is Bankruptcy? 210
What’s the Difference between the Two Types of Bankruptcy? 210
What Normally Happens When You Go to Bankruptcy Court? 214
Some Debts are Simply Not Dischargeable 215
How to Avoid Declaring Bankruptcy 216
Marching Orders for Bankruptcy and How to Avoid It 218
Part Four: Building on Your Victory 219
Chapter 17: Exploring Self-Employment 225
Recognizing an Opportunity 227
What Sort of Business Are We Talking About? 229
The Differences Between the Sole Proprietorship and the LLC 232
Marching Orders for Exploring Self-Employment 233
Chapter 18: The Shortest Chapter in This Book 235
Chapter 19: Marketing Your Business 237
Marketing 101: The Big Three 239
Creating a Marketing Plan 239
Develop a Marketing Budget 247
Marketing on a Budget 248
Internet Marketing 249
Marching Orders for Marketing 101 250
Chapter 20: Understanding Franchises 251
Choosing the Right Franchise 254
Setting Up the Franchisor Interview 259
The Final Information-Gathering Step 263
Does It Still Seem like a Good Idea to You? 264
Marching Orders for Understanding Franchises 264
Chapter 21: Bad Business “Opportunities” to Avoid 265
How to Spot a Scam 267
You Can Call on the Feds 269
Exposing the Multilevel Marketing Myth 269
Why a Multilevel Marketing Plan Must Eventually Fail 271
They Can’t All Be Bad, Can They? 273
What Can Happen to You if You Join a Multilevel Marketing Plan? 273
One Last Line of Defense 274
Marching Orders for Bad Business “Opportunities” to Avoid 275
Chapter 22: Cashing In on Cash Flow 277
What Is the “Cash Flow Industry?” 277
Figuring Out Where You Might Fit into the Cash Flow Industry 280
Defining Your Marketing Niche 281
Narrowing Your Scope 282
Identifying Prospects 283
This Is Not for Everyone 284
Marching Orders for Cashing In on Cash Flow 284
Chapter 23: The Real Estate Industry 285
The Demand for Land 286
The Single-Family Home Is King 290
Big Apartment Buildings 293
Commercial and Industrial Properties 294
A Word about “No Money Down” Deals 295
Bottom Line 296
Marching Orders for Real Estate 297
Chapter 24: Taxes and Your Business 299
Tax Advantages of Owning a Home Business 300
Recent Legislation Changes That Can Really Help You Out 301
Putting Your Family to Work 302
Hiring a Tax Accountant 303
Marching Orders for Taxes and Your Business 306
Chapter 25: Declaring Victory in the Cash Flow War 307
The Wedding, the Ring, and Life’s Lessons 307
The Mindset for Cash Flow War Success 309
Congratulations—You’re a Medal of Honor Winner 311
Suggested Resources 313
Print 313
Online 314
Glossary 317
Calculator Worksheet 341
Index 343
