5 Foundations

Class Project

First Foundation: Emergency Fund

An emergency fund is in case of an unexpected emergency that can occur at anytime. So to be ready you have and emergency fund account with $500, and it is not meant for "emergencies" such as you need your phone bill payed, or you have a broken nail and it needs to fixed.
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Second Foundation: Get out of debt

A lot of Americans are living from paycheck to paycheck. When it comes to debt lying or starting a myth long enough you will start to believe it. The debt is a product and is the most successful marketed product in history, and that is the truth.
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Third Foundation: Pay Cash For Your Car

Dave Ramsey says to pay cash for your cars mainly for used cars because the cost is cheaper. You can also stay away from car payments by driving used cars, that's what a typical millionaire does is the truth, leasing your car is what a sophisticated person does.
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Fourth Foundation: Pay Cash For College

You want to pay cash for college because you'll leave college debt free and won't be wasting money for years on a college that you attended years and years ago. So then when you graduate you'll have more options because you won't be worried about student loan payments.
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Fifth Foundation: Build Wealth And Give

The goal is to build wealth and you should save a $500 emergency fund and for purchases. Investing will help you reach your long term financial goal. Then once you are sure that your education is payed for you should then invest.
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