Carden Chad - Winning the Money Game: A Rule Book to Achieving Financial Success for Young People

ADAM CARROLL CHAD CARDEN

Copyright 2005
Copyright 2009
by National Financial Educators, Inc.

Published by
National Financial Educators, Inc.
1031 Office Park Road, Suite 1
West Des Moines, IA 50265 (515) 223-2343 www.nationalfinancialeducators.com

Authors:
Adam Carroll (www.adamspeaks.com)
Chad Carden (www.chadcardengroup.com)

All rights reserved. No part of this book may be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopying, recording or by any information storage and retrieval system without written permission of the publisher, except for the inclusion of brief quotations in a review.

Advance Praise for

Winning The Money Game

Adam and Chad have outlined exactly what it takes to put yourself on the path to winning the game we all play with money. If you want to soar with the eagles, you MUST read and understand the rules described in this book.

Dr. Tom Hill
Author of Living At The Summit and co-author of Chicken Soup for the Entrepreneurial Soul

The advice that is in the book is timeless. Get rid of debt, pay yourself first, and you will have paved the path to financial independence for yourself. When should you get started? There is no time like the present. How about now?

Steve Johnson
Author of the Bestselling Books
If You are Not OutSelling, Youre Being Outsold, and Selling Is Everyones Business

Unfortunately, I know from being in my industry that many Americans are losing The Money Game. All of them should read this book. People have to understand the rules and develop the right habits as early as possible. This and only this will lead them to financial independence.

Michael Fleming
CLU, Financial Services Representative

I would like dedicate this book to a number of different people, and it goes without saying to God, for all his guidance and wisdom, he has always shown me the way. First off to my parents Reggie and Clara Carden, who always taught me to have a vision and to go for whatever I wanted to achieve in life. The best piece of advice they gave was simply this. You can do what you want to do, be what you want to be, and have what you want to have; this is the greatest country in the World, now go do something great with your life. Next to my sister Janella and my brother Alex who have always supported and pushed me to succeed. Also, to all my other family: grandparents, aunts, uncles, and cousins (especially JP) who also supported me through all my endeavors, and still do! To all my family I say thanks for the loving support!

To my wife Sarah, who has sacrificed more than imaginable, to help me live my dreams, and to her family for all the support and patience with me and my business. And finally to our new son Bryan... may you achieve everything in life you set out to accomplish!

There are a lot of others who have helped me along the way and I would like to list some of them below. To everyone on my list I say thank you and words cant express my gratitude for all the help.

Thanks to all and best wishes!

Chad Carden

T here have been two significant points in my life when my money future changed forever. The first was at the age of 20 when my dad told me, Any money you receive from me from now on, consider it a loan. While it was as equally hard to hear as Im sure it was to deliver, I knew from that point on if I was going to survive financially, it was up to me. Thanks for that, Dad.

The second important money memory I have was when my fiancee told me flat out she wouldnt marry my debt. I had to either get rid of it or she would get rid of me. Needless to say, with her help I buckled down and got rid of almost $6,000 in high interest debt in a matter of months. Weve since lived our lives on the other side of the fence. I love you, Jenn, and all that you have done for me including putting my goals before your desires. I promise you Ill prove marrying me was the best decision youve ever made! You inspire me everyday to win the money game.

Id like to thank the colleges and universities that have invited us in to deliver The Money Game to your students. Our goal has always been to change the way students look at money, and with your help, we will succeed. It takes someone of vision to bring in a new program that is critically important, but may or may not appeal to the masses. Your dedication to the students well-being is what makes you great. Thank you for trusting our organization and what we stand for! Id like to offer additional thanks to my brothers at Delta Sigma Pi whove continued to invite me in to their LEAD events to share my message with all of your students and alumni.

Thanks also to all the people whove offered words and acts of encouragement as Chad and I embarked on this wild ride of starting something great. You know who you are and are thought of often.

From the bottom of my heartthanks.

Adam Carroll

Whats Inside

Chapter One:
Money 101

Chapter Two:
Making and Saving Money

Chapter Three:
Ongoing Savings and Automatic Investment Plan(s)

Chapter Four:
Needs Vs Wants

Chapter Five:
Essential Money Skills

Chapter Six:
Your Money Choices and Their Consequences

Chapter Seven:
Grow With Your Money

Chapter Eight:
Assets Vs Liabilities

Chapter Nine:
Monitor your progress

Chapter Ten:
Evaluate Yourself

Introduction

W e get asked the same question all the time: What exactly is The Money Game? The simplest answer we can give is its the game we all play with money everyday. Its based on the concept that at any given time in our lives were either winning or losing the game, and unfortunately, more Americans (young and old) are losing. Our goal is to help change that! In todays world a lot of people are wondering, What in the hell happened to my finances? People have lost their 401K, are upside down in their house (their biggest investment), cant find financing, and have lost their job. We cannot change the past, we can only affect and influence the future. We must focus on the future, and begin changing the way we think, and our habits surrounding money!

This book was written for young adults who are just getting started in their professional lives, but can be applied to nearly anyone in any financial situation. In the next several chapters, well take you through our own trials and tribulations, our own money mistakes, and the lessons weve learned along the way. Well walk you through simple things you can be doing right now, no matter what your situation, that will help put you on the winners path.

Congratulations, first of all, for taking the time to read a book on your personal finances! We have a hard time believing that something so important to success and happiness isnt taught in formal education. However, just reading the book isnt enough. We urge you to take the ideas and insights in this book and put them into practice. Chances are, youll wish youd started years ago.