I saw a promo for ABCs Un-broke, but didn’t get a chance to see it. I couldn’t even remember what it was called. All I could remember was Seth Green was showing off his house and the show looked funny. I found it today! I found it by doing a search on Hulu.com but it went to ABC’s website. Its under ABC News Specials, season 1 , UnBroke. Here’s the link:
http://fep.abc.go.com/fep/player?src=abccomjs&show=158779&pn=index&showId=158779
Its a perfect primer for financials, they approach it from a personal stand point but the principles are the same. The show explains what stocks and bonds are.
Also talks about how much of your monthly income your home should be costing you. A lot of great info packed into 45 minutes, and it was done in a humorous fun way. I get the impression that it was aimed at the college age demographic. Its worth watching if you want to learn some basics. OR if you just want to see Christian Slater’s abs….
The take away tips are:
1 -- You should only have ONE credit card. (Dave Ramsey says NONE)
2- A house is FIRST a place to LIVE and then secondly could be considered an investment. (and shouldn’t cost more than 1/3rd your monthly income)
3- Keep 3-6 months of living expenses in an emergency fund.
4-Saving for retirement is mandatory.
While those are great guidelines, I didn’t really see a sold action plan other than save a dollar day. Then as your able save more and use your 401k.
A business by definition is created for the purpose of making a profit. Do you know if your business is doing that? Does your business need credit? Does it have a place to live? Does it have 3-6 months of expenses saved for a rainy day?
© Lyndi Lytle 2009
