Three stimple steps to financial security

Kiplinger.com has a great article that shows the three simple steps to starting down the path of financial security.

Three Simple Steps to Financial Security - Kiplinger.com

• Save for a rainy day - There are two ways to buy what you want in life: cash or charge. The very definition of financial security is being able to buy what you want on your own terms.
• Be prepared for an emergency - Even the best-laid financial plans can get derailed by an unexpected cost
• Invest for retirement - Your immediate and short-term needs are easy to focus on. However, it's not so easy for young adults to take this third step seriously.

Financial Status - January 2008

I've been living paycheck to paycheck for a long time now. Even when I had all the excess income, I couldnt find enough ways to spend it.

Ever since my bankruptcy discharge I've been spending a large amount of time on several personal finance blogs trying to get ideas on how to save money every month and eventually grow my net worth.

Our situation is similar to alot of other families in the country. You could sum us up pretty well by saying that we have no assets other than my 401k, my bank balance, and the value of my truck.

I use a great spreadsheet from Flexo at Consumerism Commentary (I've modified slightly for my needs) to keep track of my networth. I've got several that I use for different aspects of our financial tracking that I'll be sharing over the next few days or weeks.