Debbie has nearly 20 years of investigative experience and journalism on topics of insurance, mortgage, and financial advice.


Money Strategies with Debbie

My take-a-ways from The Wealthy Barber Book

The Wealthy Barber  –  There are really good reasons why you need to get a grip on your money – before you get too far along on the road to life.   The sooner you learn and start practicing the rules of this book the better….. but it is never too late for learning new tactics.  The story is an easy read – very short and very easy to understand.  You need to know the basics of money – and if it can be learned from  a barber…. then you can learn it too!!!

  1.  Pay yourself first….  When you get paid  – pay yourself the first 10% in a savings account.  There are many on line banks that can make this really easy to put your money to the side and forget about it… until you need it.  Or you can just set up different accounts for different types of savings.   The Big Idea – just save it – put it aside –  your future self will thank you later.
  2. Invest 10% in mutual funds –  AND DON’T LOOK BACK!  Start young –  invest each month and ignore the market is up or down –  just invest and let it sit there.
  3. Get a Will or Trust for your stuff – even if you are single.
  4. Purchase Life Insurance to protect your family.  Make it convertible – so that when you are older – you don’t have to take a medical exam –  it will be able to be converted to something else you need.
  5. Planning for retirement – whenever that is … and save as much as you can – life has a way of dealing you a hand that you need to be ready for.   So start early  – save a lot and then when you hit retirement  – you can make any type of plan you like.
  6. Make the most of your home…. you may want to down size… move to a different town –  but if you have means and have set money aside  – the decision is yours…. better than not having one to make.
  7. Make a budget and stick to it….  you will need a budget in  order to keep you on track.  You will need to get everyone’s buy in if you are a family. Goals with your money can be attained with a budget and time.  Don’t carry debt on credit cards.
  8. Don’t pay more on taxes than necessary.  Get a professionals help.
  9. Establish an emergency Fund…. if you have one –  then you will be prepared for the worst.   If you don’t have a fund –  chances are you will never be able to get ahead .
  10. Purchase Disability Insurance – if you still make your money on a job everyday then you need to protect against anything happening to that salary.  You will be able to protect that amount with insurance so that if anything happens  – you will still be in the game  – without disability insurance – you are out and your retirement plans are forever changed.
  11. Keep Learning about your finances.  There is always a way to learn more.   You need to remember – don’t every invest in anything you don’t understand.  There are many ways to save your money and invest that are easy concepts – never allow someone to talk over your head.

If you want easy concepts to understand –  call me – Debbie Lewis  for more information  – 979-220-3018