Formula for Finances (Spending, Saving, Investing) A PLAN?

Here is what i have so far (my vision). I would like to do better with more specifics. I am looking for some advice. The best advice is free + i am young. -----

1. Bank Account (Checking & Savings) with a maximum of $500.
Reason: Direct Deposit, Bill Pay, and incase i need a loan.
2. Emergency Fund (a minimum of $5000) for Survival.
Reason:No Un-necessary Risks. I dont like the concept of incuring debt.
3. Rainy-day Fund (1/6 of Leftover net worth) must be relatively liquid, low risk, and interest baring. Safe.
Reason: I would like to save for a House Payments, Car Payments, Food, Clothing, Investments, and wedding ring (would like to get married some-day), and anything else worth mentioning.
4. Stock Market Timing Fund - Because Dollar Cost Averageing at Lows in the Market, does better than just BUY and HOLD.
5. Stock Market Investments - Long Term Confidence in the future.
Reason: Finally, the real money maker!

first off i would be carefull with number 4. Timing the stock market is dangerous... no one can time it perfectly and that is a great way to lose everything.

We recommend keeping 2 months worth bills in your checking, 2 months in savings.... and the rest needs to be gaining interest. At a young age i would highly recommend getting into a Roth IRA and putting the maximum away for retirement. If you have any more questions feel free to contact me via email and i can give more specifics.

You're on the right track.

Now, get to the library and read up on financial planning topcis and you'll, hopefully, avoid many of the booby traps along your road to financial freedom. Also, check out the linh below

Without risk there is no reward. I personally think stock market investing is the riskiest of all, Look to Mary Buffett's Buffettology for help in this area.

I suggest you read the book --Rich Dad, Poor Dad. By Robert Kiyosaki.

I think it will help you.

Also, Free Advice is the worst advice. Why?
Because the advice you'll generally recieve will put you in the lower middle class or poor catagory. Unless the person's rich.

Take advice from a millionaire, then it's probably good advice.