Financial Fitness - Getting Started

31 Jan 2011 · 1 min

Watch on YouTube

1:20

This content was created by Alan Akina. This content was uploaded by Alan Akina. This is a YouTube video titled "Financial Fitness - Getting Started" (Wake Up Today segment) dated 2011-01-31. It’s a short broadcast financial-tip segment featuring Hawaiʻi money expert Alan Akina, who outlines three basic money categories—money in (income), money out (expenses), and money owed (debt)—and points viewers to a worksheet at khon2.com. The excerpt includes other speakers who introduce the tip and conclude the segment.

A popular New Year's resolution for many is getting their finances in order.
Oh, I don't know about that. From 2011, we get advice in our first financial fitness tip of the week with Hawaiʻi money expert Alan Akina.
Good morning. I suggest that we start at the very beginning by understanding these 3 things about our money. First, there's money in, which is our income. Second, money out, our expenses. And third, money we owe. Our big bad debt. The important first step is to write it down so you can see it. So first, the money in. List the source and amount of our monthly take-home pay. That includes things like our paychecks, maybe business and investment income, even rental property income. Now there's money out. Write down all of the food, the gas, utilities, cell phone, cable bills. We wanna know how much money is leaving our pocket every month. Last, the money we owe. The credit cards, the mortgages, the car loans, personal and student loans. Having all this information on paper in front of you is an important first step to getting your financial life in order. Now you get a simple-to-use worksheet at khon2.com on the Wake Up Today page. Then join us next week to find out where we're gonna go from there. For Wake Up Today, I'm Alan Akina with your financial fitness tip of the week. See you next time.