Financial Sanity by Larry Phipps

Save money on Real Estate, Mobile Homes, and Automobiles-Debt Elimination Techniques-Budgeting-Money Saving Tips-Understanding Credit-Creating a Financial Plan that Works-Credit Repair-Negotiating Strategies.

...a valuable book you can use to improve your financial present and future. Discover how to become

Debt Free, Penny Smart, and Dollars in the Bank

FINANCIAL

SANITY

...overcoming the everyday demands on your money, today & tomorrow

Eliminate your debts in the shortest time possible

Use the power of your money more effectively

Become a more knowledgeable consumer

Negotiate the lowest possible price on all purchases

Larry W. Phipps

Personal Finance Expert

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------ BACK COVER OF BOOK -----

The National News Media report, "Many Americans need improvement in their personal finances. Use of credit is widespread. Savings are inadequate for retirement. Marital problems and stress are often directly related to personal financial problems."

Interest and finance charges paid on home mortgage loans, consumer loans, credit cards, and automobile loans decrease the value of your money. Benefits you could have enjoyed become profit for the lending companies. Even worse, personal debt places your assets and financial future at risk. Discover how to eliminate your debt in short order, and reap more benefits for you.

Spending habits often result in a decrease in the purchasing power of your money. Each dollar you spend should return equal or greater value to you. Your money should work to your greatest advantage and not as bigger profits to the businesses and companies with whom you spend your money.

A wise man once said, "Knowledge is a good substitute for gold; however, gold is much more plentiful than knowledge." This book will give you the knowledge to help you improve your financial outlook and help you create financial wealth. In this book, you will discover......

· The Four Steps to Successful Money Management
· How to Create a Sound Personal Financial Plan
· How to Use the Power of Your Money
· How to Reduce and Eliminate Debt
· Money Saving Concepts and Tips
· How to Repair Your Credit
· How to Save Money on Homes, Cars, and Mobile Homes
· How to Obtain the Best Financing Rates
· How to Control and Limit Monthly Living Expenses
· How to Protect Yourself if Divorce is Inevitable

The author, Larry W. Phipps, has 26 years of financial experience. Presently, he is a professional speaker, real estate appraiser, seminar leader, and real estate salesman. Previously, he was a loan officer for a major lending institution, insurance agent, owner-operator of a retail business, and prepared income taxes.

Financial Sanity

LARRY W. PHIPPS

"I like Phipps' (financial) plan...(it) is a positive, pro-active way to balance your budget. His chapters on loans and mortgages are excellent explanations of confusing financial arrangements." Wendy Warren, Consumer Reporter, The State Newspaper, Columbia, SC.

"(Your) book was great!" Jane Griffin, Director, Lexington County Public Library System, SC.

"The information in your book is very worthwhile and I have recommended it to many of our members." Betty Ann Todd, Director, A-H-J Library System, Allendale, SC."

I found the information easy to use...I like the way you got to the root of some problems." Mike Miller, Motivational Speaker, Charleston, SC.

"I love your book. It has been very helpful." Ann Humphries, Professional Speaker (Eticon), Columbia, SC

"Your book is the cleanest, simplest book I have ever read about personal finance...you made a technical and confusing subject easy to understand." Bill Benton, Radio Personality, WSCQ , Columbia, SC.

LWP ENTERPRISES

Swansea, SC

NOTE: Receive a FREE copy of my latest personal finance article. Submit your request and postal mailing address by email to Larry Phipps or send a self-addressed, stamped envelope to: Larry Phipps, PO Box 417, Swansea, SC, 29160

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CONTENTS

CHAPTER 1: FOUR STEPS TO SUCCESSFUL MONEY MANAGEMENT

MOTIVATION - KNOWLEDGE - DISCIPLINE - COMMITMENT - SUMMARY

CHAPTER 2: CREATING A FINANCIAL PLAN

YOUR PART-TIME JOB - SETTING YOUR FINANCIAL GOALS - NEEDS - WANTS - WHIMS - DETERMINING NEEDS, WANTS, AND WHIMS - SUMMARY

CHAPTER 3: THE POWER OF YOUR MONEY

THE S-C-N PROCESS - CREDIT - INTEREST RATES - SOURCES OF CREDIT - CREDIT INSURANCE

CHAPTER 4: A PLACE TO LIVE

RENTING VS. BUYING - BUYING A HOME - FINANCING A HOME - HOUSING ALTERNATIVES - FINANCING A MOBILE HOME

CHAPTER 5: TRANSPORTATION

REDUCE YOUR TRANSPORTATION EXPENSES - PURCHASING AN AUTOMOBILE - FINANCING AN AUTOMOBILE

CHAPTER 6: FINANCIAL SANITY CHECKUP

DETERMINING YOUR NET WORTH - DEBT-REDUCTION TECHNIQUES - DEBT- REDUCTION EXAMPLES - REDUCE AND ELIMINATE YOUR DEBT - SUMMARY

CHAPTER 7: MONEY SAVING TIPS

INTRODUCTION - HOME AND AUTOMOBILE SAVINGS - CREDIT - INTEREST (FINANCE) CHARGES - APPLIANCES, FURNITURE, & ELECTRONICS - UTILITIES - ENTERTAINMENT - CLOTHING - GROCERIES - INSURANCE - BREAKFAST, LUNCH, SUPPER - PERSONAL GROOMING - PROPERTY TAXES - CHILDREN AND CHILD CARE - MISCELLANEOUS AREAS - SMALL EFFECTS

CHAPTER 8: WHEN YOUR LIFE TURNS UPSIDE DOWN

DIVORCE - WILLS - CREDIT REPAIR - CREDIT DENIAL

CHAPTER 9: INVESTMENTS

INVEST IN YOURSELF - OPPORTUNITIES AND RISK - SAFE INVESTMENTS - CONCLUSION

CHAPTER 10: YESTERDAY, TODAY, AND TOMORROW

TODAY IS THE DAY - CLOSING

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FOREWORD

Before deciding to implement some "Financial Sanity", my wife and I became very depressed on paydays. After paying all of our numerous bills, we had very little money left to do the things we wanted to do. When an unexpected bill arose, we had problems paying it. We worked hard and were rewarded with above-average incomes and raises. Although our incomes increased yearly, we never seemed to achieve the financial success commensurate with our incomes. Does all of this sound familiar? If you are like most Americans, you can relate very easily to the above dilemma.

Quite often my wife and I would ask each other, "Where does all of our money go?" In 1988, I decided to try to answer that question once and for all. After reviewing our personal expenditures, I realized that we had failed to use the power of our money to achieve the maximum benefits available. In other words, I began to realize that what we did with our income was more important than how much income we earned. When I totaled the amount of interest we would pay on our home, cars, credit cards, and other bills, I found that we would lose more than $150,000 if we continued to stay in debt.

Going forward, we decided that it was time to implement some "Financial Sanity." We discovered that we could satisfy our needs and many of our wants by using the power of our money more wisely. We accomplished this by becoming more knowledgeable about products and services, negotiating the final price on every expenditure, implementing cost-cutting measures in our monthly living expenses, and eliminating all of our debts. We were able to reduce the amount of money required to take care of the everyday demands on our money, which allowed us to apply the savings to our debts. Using my experience as a loan officer, I was able to develop a scenario that would allow us to pay off our debts in the shortest time possible. In less than five years, we paid our entire debt (approximately $250,000 gross) and have been living debt free since then.

After mailing the final payment on our debt, I said to my wife, "Darling, I feel so good! I wish everyone could feel the same." She replied, "Maybe they can. Write a book about what we did to get out of the mess we were in." I thought about it for a moment...then I exclaimed, "I'm going to do it! If I can help just one other person or couple, I will feel even better."

Since you are reading this, you know that I did write the book. In my book, I reveal the exact process and steps we used, namely: how to create a financial plan, how to control and limit your monthly living expenses, how to become more knowledgeable about products and services, how to negotiate the lowest possible price on purchases (major and minor) and how to negotiate the lowest possible cost when financing a purchase. I show you how to systematically eliminate your debt...giving four different debt scenarios (one of these should pertain to your debt situation). Also, I include a detailed discussion of credit and how it affects you. On a smaller scale, I discuss credit repair, wills, divorce, and safe investments.

I believe that you will find that my information is honest, ethical and, most importantly, doable. You should discover that you don't have to quit spending money, altogether, and that you can obtain what you need and many of the things you want...if you exercise some "Financial Sanity."

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Cataloging-in-Publication Data not available as of date of publication.

Previous and Active title:
How To Improve Your Financial Health......Made Easy / Larry W. Phipps
ISBN 0-9651253-0-0

Library of Congress Cataloging-in-Publication Data
TX4-035-075

First Published by LWP Enterprises
First Printing: February, 1995
Second Edition: March, 1995
Third Printing (Updated): February, 1996

Printed in the United States of America by ROSE PRINTING of Tallahassee, Florida. Except as permitted under the United States Copyright Act of 1976, no part or parts of this publication may be reproduced or distributed in any form or by any means (electronic, mechanical, photocopying, recording, or otherwise), or stored in a data base or retrieval system, without prior written permission of the copyright owner, author, and publisher.

Larry W. Phipps was the production supervisor for this book.

Carolyn Brown of Columbia SC was the word editor and proofreader for this book. She is a graduate of the University of South Carolina School of Journalism and has a masters degree in journalism.

This publication is designed to provide meaningful and helpful information on the subject of personal finances. It is sold with the understanding that the author and/or publisher may not be engaged in rendering legal, accounting, investing, or other professional services. If specific or expert advice is needed, the services of a competent professional should be sought.

---From a declaration of principles adopted by a committee of publishers and by a committee of the American Bar Association

NOTICE: The author, copyright owner, and publisher disclaim any responsibility for personal loss or liabilities caused by the use and/or misuse of any information contained within this publication.

About the Author

Larry W. Phipps is a personal finance expert with more than 26 years experience in the business world. During those years, he has been a real estate salesman, real estate appraiser, loan officer for a major financial institution, insurance agent, and has owned and operated a retail business. His life and work experiences have made him aware of financial problems and situations that are common to most Americans. Using his vast experience, he invented numerous ways to save money and techniques to eliminate debt which can be beneficial to the public at large.

Also, Mr. Phipps is a professional speaker and is available to speak to businesses and private groups. Also, he conducts seminars, workshops, and lectures. For more information on fees and available dates, please direct your inquiries to:

Larry W. Phipps
PO Box 417
Swansea, SC 29160
Bus. Ph. : (803) 568- 4643

Comments and suggestions regarding this book are welcome. Contact the author at the above address or phone numbers.

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