Life of Pookah Finances 201

This is a summary page for intermediate finances. Your financial journey is going to be different from Pookah’s, my S.O.’s, or mine. It will be different from everyone else’s, too. Your full, exact situation IS unique. So don’t think that you have to complete all of 101 before you can move on to 201 or even 301. That isn’t the way it works because that isn’t the way that people work. Read ahead. Plan ahead. Opportunities will come knocking, but you’ll miss them if you don’t recognize them. The way your mind works in relation to how your life is going will determine a lot of your specific approach to finances. If you can grok this, learn self-discipline, and grow beyond what you are now, then you can live life like Pookah.

Life of Pookah Finances 201 is the intermediate stage – where your expenses and income are under control, you have a 3-6 month emergency fund set up, and you are not in debt (excluding a mortgage). More accurately, the definition of “not in debt” means that the money you owe in the next 6 months does not exceed what you can pay in the next 6 months. At this point, you focus on reducing interest-bearing debts, increasing income, and start learning tricks for squeezing some of that blood you’ve been giving the financial industry back out of them. You’ll also start to learn more about investing in yourself through skill training and education.

The guiding principles of Pookah Finances 201 are these:
* Planning ahead
* Controling expenses and debts
* Predicting expenses and debts
* Predicting income
* Take care of your stuff
* Setting up your financial balance sheet
* Understanding the magic of compounding interest
* Reducing interest-bearing debts
* Credit card arbitrage
* Controling financial institution fees.
* Increasing income
* Learn more about taxes
* Learn more about investing

Please check out this page of useful websites.

You can view a list of posts about Pookah Finance 101, 201, 301 under the Categories section on the right side of the page.

2 Responses to “Life of Pookah Finances 201”

  1. Aoi says:

    Hi ChrisI took advantage of $50.00 of ad money from LinkedIn. I’ve done PPC beofre on Google, but it was a steep learning curve for me because at the time I didn’t have too much knowledge about how to effectively use PPC. Fast forward to 2012, and I’ve learned and keep learning about PPC ads.I keep receiving phone calls from Facebook about creating ads on the super social media network. I had to laugh for two reasons:1. I didn’t think a giant of a company like Facebook would have employees cold call or need to have employees cold call business owners. 2. You’d think Facebook would utilize Facebook (or email) to entice business professionals to sign up for Facebook ads instead of cold calling.I guess Mr. Zuckerberg wants to use every single avenue to get business owners and professionals to sign up with Facebook ads. Kudos to him.Amandah recently posted..

  2. […] S.O. and I have built up our finances to where we are solidly in Pookah Finances 201 and heading into Pookah Finances 301, we have set aside resources for emergencies. This is commonly […]

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