Emergencies-are You Prepared?

A young man got into a car accident resulting in many bedridden months in the hospital and $100,000 of debt in hospital bills. Pathfinders Mastering Your Money series originated from this true story. The young man decided to pay off his debt in small amounts each month instead of filing for bankruptcy. When he was released from the hospital, he got a job, generated a modest income and stuck to his plan of paying his doctors $5 each week. He calculated with each payment how long it would take him to get out of debt. The result: he learned how to manage every penny he made.

Your overall financial wellbeing has less to do with your income than the strategies you put in place and honor. We are stewards of our money. In my opinion, we have an obligation to honor our money by treating it as best we can. It doesnt matter how much youre making, if you have a leak somewhere, the money will run out. Prepare for lifes emergencies. One of Robert Kiosakis quotes from last weekend that I took away and believe to be true: The way you do anything is the way you do everything. Do you cut corners? Do you plan ahead? Are you disciplined? Hard working?

Speaking of discipline and preparing for emergenciesone of Pathfinders principles isWhen you track your money, you can control it. Do you avoid balancing your checkbook? Do you blame employees and others because you dont make enough. Blame the kids, your boss, your investment partners? Dont think youll ever have an emergency? Statistics say you will, and youll need an emergency fund. Keep at least six months of living expenses liquid, so you have half a year to gain control over your emergency situation.

About the Author:
B.S. with Honors Hofstra University Long Island, New York, 1984.

I finished my four-year undergraduate program in 3 years and graduated Cum laude as well as a member of Phi Beta Kappa Fraternity. I majored in Political Science with a minor in Sociology and completed my first legal internship.

Hofstra University School of Law, Long Island, New York, 1987.

During my three years of law school, I completed an internship with a New York Supreme Court Justice and second legal internship with a law firm and also began investing in real estate.

Business:
Immediately upon graduating law school and passing the bar exam, I opened my own law practice. From 1988 to 2001, I practiced with my partner under the name Miles and Gillard, where I

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