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Personal Financial Health Project

Redtail is dedicated to teaching people how to live debt free lifestyles.  We offer Personal Financial Webinars.  Contact us to book one of our webinars. We have developed a list of 10 items to help you become and stay financially strong:

  1. Invest in yourself.  Open a savings account and set a goal to start with $50, and in six months save $500, and in a year save $1000.  A minimum of $50 must be saved to start this journey. The goal is to have $1000 in a savings account and don't touch it.  This will keep all the bad luck away.  This must be done before you start the next step.  Sell something in your house, have a yard sale or bake sale.  When you put your mind to it you can earn $50 quick.  You got this.  

  2. Write down a budget.  Sit down at your kitchen table or desk and write down a budget monthly.  List your income, fixed expenses, variable expense, and debts.  

  3. Make a list of all your debt including the total monthly payment and balanced owed. Start with the least amount owed and start paying everything to that bill first until it is paid in full then go to the next.

  4. Be knowledgeable about the FICO (credit) score.  Did you know that two dudes named Bill Fair and Earl Isaac established the Fair Isaac Corporation (FICO) in 1956?  They developed the credit scoring model known as the FICO Score.  In 1995 mortgage giants incorporated the FICO score in the loan approval process.  What is even sillier is you can't get a FICO score without going into debt.  Therefore, be smart about how you go into debt.  We recommend getting a secured loan for 6 months and make monthly payments.  Get a cell phone in your name you are basically financing a phone this will help your score.  Check out this article from Dave Ramsey

  5. Request a free credit report at  Review the report make sure everything on the report is correct.  Visit this link on how to dispute mistakes  Side note if you try to get a credit report and you receive a message that you have no credit print out that message and frame it.  

  6. Purchasing a vehicle is the number one reason most Americans are drowning in debt.  We recommend that you pay cash for vehicles.  Don't pay more than 10% of your salary on a vehicle. If you really really want the car only finance it for two years otherwise don't get it. You might need to sell your car and get something more affordable.

  7. Food is the number two reason most Americans are living paycheck to paycheck.  We challenge you to only eat out once a month for six months.  Cook your meals at home and bring a lunch to work.  Check out American's cheapest family Be smart when shopping for groceries.  Check out this video on how Costco tricks you into spending more money

  8. Stay away from consolidation loans.  It is NEVER a good idea to pay off debt with debt.  It is a scam!

  9. Purchase term life insurance.  Stay away from whole life.  Check out this video from Suze Orman

  10. After you have all debt (but the house) paid off then you can begin to invest and enjoy your hard earned money.  Start a budget binder.  A budget binder only works if you have disposable income to budget.

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Redtail Accounting

"Book-keeping, while a science, deserves to rank among the fine arts.  It challenges the admiration of lovers of the beautiful and true.  It cultivates the judicial powers of the mind. It quickens and strengthens the love of justice and equity.  It promotes fair dealing among men and women." 

Ira Mayhew 1884

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