Knowledge is the seed that grows prosperity in all areas of your life, not just financial.
“An intelligent heart acquires knowledge, and the ear of the wise seeks knowledge”.~Proverbs 18:15

This “plan” is meant to be a starting point to get you to REALLY think about how you can build a healthy financial plan for your life.

#1. START YOUNG. 15 or 16 YEARS OLD is ideal because you’ve probably got your first job and are making some money. THIS is the time you really need to learn what the money system is all about.

#2. LEARN THE BASIC FINANCIAL PRINCIPALS FOR WEALTH CREATION. I’m outlining the basic principals on this website but there are over 47 tried and true principals (secrets) that you can get from the Financial Fitness Program that Life Leadership offers. I’m allowed to share the basics but anything more from this program would be copyright infringement My advice is to invest in your education and get the program to get serious about building your life plan. If you don’t have these financial principals to refer to, you won’t know if the advice you’re getting is sound or not. A small investment now will save you hundreds of thousands of hours and dollars in the future. And yes, all of the information for financial principals is “out there” on the internet, but fining it is the hard part because it’s all over the place.. This program pulls ALL of the principals together under one roof with practical applications, so it’s worth it’s weight in gold.

#3. GET A MENTOR.. OR TWO.. OR THREE. Having someone with wisdom, knowledge and experience to help you avoid pitfalls, will be key to being successful in reaching your goals, personally, professionally and financially. It would be ideal if your parents could be your mentor, but if they themselves are struggling, then you will have to look elsewhere. One of the basic principals is to not take advice from broke people. Most successful people live within their means and may be living quite modestly. The person who has a good handle on finances usually doesn’t have a lot of debt and you’ll never hear them stressing about a lack of money. Ask them if they’d be willing to be your mentor.

#4. WRITE DOWN YOUR LIFE GOALS. Do this with your parents or a mentor. Do you want to get married, have children, travel every year to different parts of the world? Do you want to help eliminate poverty and homelessness? Do you want to have a hobby farm with horses, goats and chickens? Do you want to grow a vineyard, own your own business? Write down what you would like to do, not just what you think you can earn a living at. What do you enjoy spending your time doing when not working to earn a living? Don’t limit yourself.. write down everything you can think of that you’d like to do in your life!

Most of us have numerous talents and gifts and as you mature you’ll naturally gravitate to what it is that stimulates your genius. You might love woodworking, mechanics, animals, people, numbers., science… whatever your purpose is to be, you will gravitate to that and earn your living at it. Those people who are wise enough to set a plan in motion, often get to do most of the things they want to do, whether for income or fun, or both! It’s the best of both worlds if what earns you a living is also what you have the most fun doing!

Plan for it now and work towards that. Having a draft of all these paths will help you avoid the pitfall of stumbling through life and ending up doing something you hate to earn a living. You goal should be to work for your life, not against it.

This planing will also help you decide if you need to go to university or not. This is another area where some de-programming needs to take place. You DO NOT need a university or college degree to succeed in life. The majority of people who have graduated from these institutions don’t even work at jobs in the area they studied for. Yes, university and college is required if you want to be a doctor, lawyer, engineer, scientist, etc. But if you are going into any of the trades or even most financial fields, a community college diploma is all that’s needed because most of your education will come from on the job training. Look at the grand cathedrals built in the middle ages. Next to none of those master builders had much education at all. Those skills were all learned from a young age.. the young apprenticed with the masters until they became masters themselves. Bringing back those lost skills would be an amazing career for some enterprising young men.

#5. WRITE DOWN YOUR FINANCIAL GOALS. Again, do this with your parents or a mentor. I don’t mean for you to say that you want to be a Millionaire. Everyone wants to be a millionaire. What I mean by this is, after you have identified your life goals, do some rough calculations to discover the amount of money it will take to achieve those goals. I’ll use the following EXAMPLE. Let’s say you want to build a small hobby farm. You like animals and you want to eat healthy organic food. You’ll have to figure out what that is going to cost. If you want goats for milk, chickens for eggs and meat, a couple of sheep for wool, gardens to grow food and you’d like to build your own house and workshops, well, you’ll have to have a rough estimate of what all that is going to cost. As a young person, of course you don’t have the skills yet to do all those things, but realize that you can acquire the skills you need to do ANYTHING. First, you must decide what you would like your life to look like, which is why the previous Life Goals section was important to get down on paper. If you want to live in the city and travel the world, what is that going to cost? Maybe you want to own an apartment building in the city or town and live in one of the apartments, well, start shopping now, find out the price and plan your finances to achieve that. Do you want to own a car, a truck or will you even need a vehicle if you live on a transit line. Again, know what you want your lifestyle to look like and then figure out what it is going to cost. Of course you’ll be readjusting all of these things as you get out on your own working, but if you use those high school years where you’re still living at home, by the time you graduate, you could be well on your way to owning your own real estate! One of the smartest things you can do is to build or purchase your own dwelling as housing takes the largest portion of your earnings as any other living expense.

#6. DO NOT GET A CREDIT CARD. If you are a teenager, you do not need a credit card. Don’t let them get you hooked on easy money. It’s not so easy to pay back and you’ll pay back a lot more than what you borrowed. For a reality check go plug some figures into a credit card calculator and see what a trap it is! If you have Credit Cards, Pay them off and cut them up. As an adult, you only need one credit card if you travel. If you don’t need to book flights or hotels or rental cars, you really don’t need to use credit.

#7. SAVE YOUR MONEY. As a young person living at home, any money you earn should be mostly saved. This is why having a plan is so important, because without one you will waste the majority of your productive capacity.