How hard is your money working?

20 Important Financial Considerations

With 9 Key Concepts Highlighted in Red

1. Design a realistic monthly Spending plan that your family can effectively agree upon and use.

2. Include due dates on credit cards, automatic withdrawals, plus saving plans for long term expenses.

3. Be sure you correctly identify the difference between needs and wants in your spending plan.

4. The two most effective ways to overcome growing spending plan needs are to:

    1) increase your income
    2) control spending to remain debt free.   You cannot borrow yourself to financial success.


5. These days, an emergency fund is vital. Use an online bank for this fund – it pays higher interest. 

     Alternatively you can open a Home Equity Line of Credit(HELOC) which usually has a very low inrate.                  Work toward accumulating 3 times your monthly spending plan expenses.


6. Your goal is to always pay the full amount charged on all your credit cards each month -Pay No Interest!

7. OR choose a single debt to pay off completely by increasing the minimum amount due while paying the       minimum on all other debts, then concentrate on increasing the payment on another debt until all are completely eliminated.

     Debt consumes your future. There’s no limit to the benefits of debt free living.

8. Sell what you haven’t used in the past 3-5 years and apply the profits to debt reduction.


9. Contribute to your 401k/pension plan every month to at least qualify for the full company match.

10. Contribute to a Roth IRA every year. In 2019, $6,000 max ; $7,000 if 50 or older.


11. Determine your financial “tolerance for risk” to guide you with investment choices.

12. Have balance in your investment plan – Cash savings, Life insurance, Equity funds, Bonds, Roth IRA, Lifetime income plan (pensions, annuities, IUL), possibly additional real estate and precious metals.

13. It’s never too late to get started on your financial future. 

        "Faith in the future yields power for the present."

14. Start an Indexed Universal Life policy or 529 Fund to help pay for your children’s college education. These   funds could be used to help your children start their own business or make a down payment on a home.                  This policy can also become part of your retirement income.


15. Never reduce the minimum contribution to your retirement fund for the sake of building a larger college savings ammount for your children. Federal Parent PLUS loans are about 6.8 %; easy to qualify.                                      Who will be willing to loan you money for your own retirement?


16. Make out a Will, designating a guardian for your children and exact directions for wealth distribution.

17. If and when appropriate, use an attorney who specializes in trusts and estate planning.

18. Review your financial plan annually including beneficiary designations, life insurance, and retirement goals.


19. Here are several important economic disciplines for a family that Expects To Win:

  • Think, plan, evaluate, then act/spend.
  • Teach “first earn the money, then make the purchase.”
  • Only use money in these five ways: Tithe-Save-Spend-Give-Invest.
  • Think clearly ~ Speak wisely ~ Act honorably ~ Work diligently ~ Play joyfully ~ Save regularly.

 20. Experience the joys of life now, and “Let me help you Secure Your Financial Future.” Our insight and experience are free.

JB Financial - Rule of 25.pdf
Adobe Acrobat document [117.6 KB]
JB Financial - Monthly Spending Plan.pdf
Adobe Acrobat document [149.7 KB]

JB Financial Planning

John Butz  - President


9031 W. Staring Lane

Eden Prairie, MN   55347


Office Phone   952 975-2909

John's Cell      952-451-1705






Or use our contact form.

Contact Us

Print Print | Sitemap
© JB Financial Planning