Essay on What Love Is...

678 Words Oct 9th, 2012 3 Pages
List of concepts:
Chapter 1
1 Do not pay interest: If Hopeful family pay interest and fail to collect interest, they will be headed for financial bondage.
2 Prepare financial goals and make wise financial decisions: With an understanding of how important interest is in their financial decision making and prepare to think about goals that will help them to make wise financial decisions.
3 Pay the Lord first, and then yourself: After pay for their tithing, set aside a certain amount to pay them, and not be tempted to spend it. This will help them to live on the money they have available instead of spending their savings.
Chapter 2
4 Building a strong financial position: The total of their liquid assets should be more than the total of
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They already have many debts, their second car really aggravate their financial crisis. They should know what they can afford before and how to select vehicle that will not cause of financial burden.
12 Vehicle financing: Pay cash if possible. They will earn interest on their savings and save finance interest charges.
Chapter 7
13 What can you afford? Renting versus home ownership: Renting provides more flexibility, lower maintenance costs, and less up-front cash than home ownership. Also they should not spend more than 25 to 30 percent of their take-home pay on housing.
14 Qualifying for a mortgage: The ideal down payment is 20% or more of the price of the home. They should have that much in savings to qualify for a mortgage. If not, save until they have to purchase a home.
15 Amortization schedule: An important component of increasing your personal wealth is to purchase a home and then pay extra month on their payment. This extra amount goes directly to reduce the principal and significantly decreases the cost of interest.
Chapter 8
16 Avoid risks: Activities carry an above average risk should be avoided.
17 Reduce risks: Teaching the children how to reduce risks in their lives. Always put their safety as their primary.
18 Health insurance: Although they are buying life and medical insurances now, they are still paying a lot for their medical bills, so they might reconsider to purchase health insurance instead

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