Everybody Wants Your Money

By Anna L. Montessi and Peter M. Montessi

It is our hope after reading “Everybody Wants Your Money” that you will acquire the skills to balance your Budget every month and begin to build your savings. After learning how to live within the budget, you can apply this skill to start a small business. Your goal should always include living within your budget and having more than one income stream. Staying within your budget and building your income streams will guarantee your success.

• Language: English
• Publisher: AuthorHouse
• Release date: Mar 13, 2020
• ISBN: 9781728347066

Anna L. Montessi

Anna Montessi grew up in a low-middle-class household and left home at the age of 16. Soon, she had the responsibility of raising two sisters. It was difficult to make ends meet, as minimum wage was very low at that time. This experience gave her the skills to make ends meet on a low income. In 1982, after working many low paying jobs in 1996, she graduated from Columbia Pacific University with a BA in business. Anna was given a position as Research Finance Librarian with Drexel Burnhan Lambert, a brokerage firm. She worked in this position for 30 years when she retired. She joined A Designs Audio, Inc., as partner in this successful firm.

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© 2020 Anna L. Montessi, Peter M. Montessi. All rights reserved.

No part of this book may be reproduced, stored in a retrieval system, or transmitted by any means without the written permission of the author.

Published by AuthorHouse   03/13/2020

ISBN: 978-1-7283-4707-3 (sc)

ISBN: 978-1-7283-4706-6 (e)

Library of Congress Control Number: 2020902868

Any people depicted in stock imagery provided by Getty Images are models,

and such images are being used for illustrative purposes only.

Certain stock imagery © Getty Images.

Because of the dynamic nature of the Internet, any web addresses or links contained in this book may have changed since publication and may no longer be valid. The views expressed in this work are solely those of the author and do not necessarily reflect the views of the publisher, and the publisher hereby disclaims any responsibility for them.

Anna L. Montessi

Everybody wants your money: a guidebook to keeping it/ Anna L. Montessi; Peter M. Montessi; Amy Jordan, Graphic Artist.

1. Finance, Personal

2. Saving and Investment

3. Consumer Education

HG179. m66 2020

332.024'008'35

QBI00-460

CONTENTS

An Introduction to the Reader

How to Use this Guidebook for Managing and Keeping Your Income

Money Guidelines

Chapter 1 Goals

BASIC STEPS FOR GOAL CREATION AND COMPLETION

GOAL SUMMARY

Chapter 2 Make a Plan

EXAMINE YOUR GOALS TO DEVELOP A PLAN

KEEP YOUR RECEIPT

ORGANIZE YOUR GOALS

PLAN SUMMARY

Chapter 3 Research

ASSOCIATED COSTS

Purchasing the Personal Computer

Purchasing The New or Used Vehicle

RESPONSIBILITIES ASSOCIATED WITH POSSESSIONS

SLOW DOWN – THINK – DECIDE

RESEARCH SUMMARY

Chapter 4 Assessment

WHERE ARE YOU TODAY?

Tools

Income

Holidays, Anniversaries, Birthdays

Monthly Bills

Irregular Bills

DETERMINE YOUR ALLOWANCE

ASSESSMENT SUMMARY

Chapter 5 Maintaining Records

KEEPING RECORDS

Net Income Total

Allowance Total

Total Bills

ASSESSMENT CHECK LIST

TAKE CONTROL BY KNOWING WHO YOU OWE

MANAGING FINANCIAL PAPERWORK

RECORDS SUMMARY

Chapter 6 Cut Back Spending

RENT OR MORTGAGE

HEALTHCARE

GIFTS

Watch for Gift-Giving Pitfalls

RECYCLE YOUR MONEY

EVALUATE YOUR ACTIONS IN DOLLARS AND CENTS – BY USING COMMON SENSE

SPENDING SUMMARY

Chapter 7 Family - Get Everyone Involved

TEACH YOUR CHILDREN THROUGH PLAY

CASH AND COINS - DENOMINATIONS

INVOLVE EVERYONE SUMMARY

Chapter 8 U.S. Banks - What They Can Do For You

REQUIREMENTS

MINIMUMS

BANK SUMMARY

Chapter 9 Save Through Your Checking Account

PARTS OF THE CHECKBOOK LEDGER

HOW TO WRITE A CHECK

HOW TO MAKE A DEPOSIT AND WITHDRAW WHILE IN THE BANK

How to Fill Out a Deposit Slip

How to Fill Out a Withdrawal Slip

THE ATM - MONEY DOES NOT GROW ON TREES

Most Important - Be Safe

When Preparing a Deposit:

Protect Your Card

Protect Your Account

Protect Your Cash

Protect Yourself

Watch for ATM Service Charges

CHECKING ACCOUNT SUMMARY

Chapter 10 Balance Your Checkbook

CHECKS

DEPOSITS

BALANCE YOUR LEDGER USING BUFFERS

Numerical Mistakes

HOW TO CALCULATE THE BUFFER

How To Manage The Buffer

CHECKBOOK SUMMARY

Chapter 11 Credit

IT IS IMPORTANT TO BE DEBT FREE

HOW TO ESTABLISH CREDIT

RESEARCH

HOW TO MANAGE CREDIT

CREDIT TROUBLE

Your Credit Report

CREDIT COUNSELING

CREDIT SUMMARY

Chapter 12 Build Your Reserves

THE PROCESS

MOVING MONEY

THE TREASURE CHEST

401-K OR RETIREMENT SAVINGS PLAN

Chapter 13 The Best Things are Free!

GET A FREE EDUCATION

GET A BETTER PAYING JOB

START A SMALL BUSINESS

TAX SAVINGS

TRADING STOCKS

HEALTH

Conclusion

AUTHORS’ ACKNOWLEDGMENTS

This book represents the collaborative efforts of many people.

We owe special thanks to family, friends, colleagues and critics. They have shaped our thinking about the topics covered. To all those to whom we are in debt, we extend our deepest appreciation.

We are particularly grateful for the advice and encouragement reeived from the following persons: Harold Jasper, Sue Runyard, Barry Barnett, Jonathan Jackson, Sharon Brock, Susan Chan, Ernest Fierro and Kristine Berg.

There is, however, one person without whom this book would have been impossible, Judith L. Rothman. Her patience, good humor, knowledge and editorial assistance helped bring this book to completion

Finally, we dedicate this book to our parents.

Anna L. Montessi

Peter M. Montessi

To learn one subject really well

You first must break it down

Into pebble-sized concepts.

Only then can you build

A mountain of knowledge.

–Roberto Alvarez–

Samples, Examples and Questionnaires

Chapter 1 - Goals

#1  Example- Goal Form

Chapter 2 - Make a Plan

#2  Example - Goal Organization

#3  Example - Plan to Acquire Color TV

Chapter 3 - Research

#4  Research Question and Answer Sample Sheet

Chapter 4 - Assessment

#5  Calendar Example

#6  Weekly Allowance Determination Questions

#7  Weekly Allowance Determination Example

Chapter 5 - Maintaining Records

#8  Record Keeping Example

#9  Contact List Example

Chapter 6 - Cut Back Spending

#10  Sample - U.S. Postage Mail-in Order Form

#11  Example - Gift Tracking Form

Chapter 7 - Family - Get Everyone Involved

#12  Example Cash Counting Form

Chapter 8 - U.S. Banks - What They Can Do For You

#13  Preliminary Bank Comparison Example

#14  Example - Bank Comparison Form

#15  Example - Checking Account Questions

#16  Example - Savings Account Questions

#17  Example - Comparing Checking Account Questions and Answers Between Banks

#18  Example - Comparing Savings Account Questions and Answers Between Banks

Chapter 9 - Save Through Your Checking Account

#19  Example - Checkbook Ledger

#20  Sample - Check

#21  Sample - Deposit Slip

#22  Sample - Withdrawal Slip

Chapter 10 - Balance Your Checkbook

#23  Sample - Bank Statement (Front - Page 1)

#24  Sample - Bank Statement (Front - Page 2)

#25  Sample - Bank Statement (Back)

#26  Sample - Checks Cleared - Section of Statement

#27  Sample - Deposits Cleared - Section of Statement

#28  Sample - Withdrawals Cleared - Section of Statement

#29  Sample - Fees and Charges Applied - Section of Statement

#30  Sample - Interest Applied - Section of Statement

#31  Example - Discrepancy List and Subtraction Totals

#32  Example - Discrepancy List and Addition Totals

#33  Example - Checks, Withdrawals and Deposits Not Included - from the Back of the Statement

Chapter 11 - Credit

#34  Example - Credit Payoff List

#35  Example - Credit Card/Loan Payoff Schedule

Chapter 12 - Build Your Reserves

#36  Example - Interest Tracking Form to Watch your Money Grow!

AN INTRODUCTION

TO THE READER

Who was this guidebook written for? This guidebook was written for any person handling household accounts. You may be single, married, head of a large family, divorced, a single parent, and/or living with roommates. Whatever your household situation may be, this guidebook was written for you.

What will you learn? You will learn how to organize and manage your household finances and how to save money, even on your current income. You will learn how to create a personal financial plan, and, ultimately, gain financial freedom.

This book is not a get-rich-quick fix. It is a guide to show you how to live successfully within your means. It presents the keys to living well on your