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The typical American household budget percentage breakdown looks like the list below. For most of the categories a range is shown. A range makes more sense to help you see where your personal budget fits (or doesn't fit.) If your budget doesn't fit the typical American household budget, rejo

According to USFDA, a combination product is one composed of any combination of a drug and device; biological product and device; drug and biological product

ice! The average American household budget is jacked up - we carry too much debt and we just don't save enough. We're so worried about our neighbor's new pool, our co-worker's new car and our friend's new designer shoes that we spend more than we earn to try and keep up. But take heart! Revi

; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.

Examples of combination products may in

ew the percentages below, compare your household budget and then read on to find out how you can move yourself into the elite minority of Americans who have mastered where their money goes.

Typical Household Budget Percentages

33-38% Housing (59%-66% of this is on shelter - mortgage intere

lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.

st, property taxes, repairs, and rent, and other items)

15-19% Transportation (38-48 of this is vehicle purchase - 2 cars per household average)

13-14% Food Budget (55% at home, 45% away)

0-2% Alcohol

0-3% Tobacco and related products

0-2% Caffeine related products

4-5% On clothing and

here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe

related services (drycleaning)

4.5 - 6% on out of pocket Health Care

9% Personal Insurance and Pensions (breakdown: 1% life and other personal insurance, 7.5% SS, .5% investment

5% Entertainment

2.5% Charitable Contributions

2% Reading and Education

1% Personal Care products and servi

d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.

Combination pro

ces

2% Miscellaneous

4% Credit Card, Consumer Loan Interest

If your budget closely matches the above, here's what you can do to fix that. Do these in order. Do not proceed to the next step until you've addressed the current step:

1. Stop using your @#!&*! credit cards!

2. Make a down an

ucts have become life saving products for the pharmaceutical companies who doesn’t have many innovative molecules in their product pipeline and have been inc

d dirty budget right away! Don't worry about it being right at first...you can perfect it over time. Just do it!

3. Cut back on your easy to identify, frivolous spending habits (3 dollar lattes, magazines, 450 extra satellite channels, etc.) If you've got some expensive habits you've wanted

easingly used in the product life cycle management. Even the companies having product patents are trying to extend their product life cycle through the combi

to quit for some time, now's the time. For example, if you're a hard-drinkin', chain smokin', coffee drinkin' fool, you can reap a windfall of up to 7% or more of your income! Just cutting back to 2 drinks per day, only drinking coffee from home and quitting the cigarettes will net you a ni

nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically

ce amount of extra cash and add years to your life! Refine your budget after eliminating what you can.

4. Reduce your 401K and other investment payments (if you have any) to the minimum allowable to keep your 401K and/or other investment accounts open. If your employer has a stock matching

and physically. They need to rightly judge the benefits of the combination products and they have to even look at the risks involved when combining the produ

plan, keep that in addition to the minimum to keep your investments accounts open (but only up to the minimum you need to get all the matching money.) You're going to reap a whole lot more return on paying off your debts than you can ever hope to reasonably get from traditional investments.

ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi

If you're paying into a college fund for your kids - keep doing that - if you're not and you really want to, hold off until step 6. Refine your budget to reflect the extra income available, if any.

5. Build an emergency fund equal to 2% of your gross annual income. It should be a little har

ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.

Following aspects would a

d to get to (like a separate checking account or mutual fund), but not too difficult (Certificate of Deposit.) Work this into your budget - it's very important. You will not believe the amount of stress that will melt away when you do this.

6. Pay off your debts - everything except mortgage

dd to the challenges in developing combination products:

Which markets to tap where the combination products can do fairly well?
Which combination prod

s. And don't just move your revolving debt into a second or third mortgage - that's bad. Pay them off using a rapid debt paydown system like the Debt Hammer™. Pay off any student loans (for future reference, these are a bad idea.) Pay off your car(s) too. If you're not upside down on a car l

cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin

oan (your car is worth more than you owe) you can sell it and get a cheaper, paid for car. Throw a small (inexpensive but fun) party for yourself and your loved ones every time you pay off a debt.

7. Take all the money you WERE spending to pay off your non-mortgage debt and start putting it

tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen

into those investment accounts you put on idle. Make sure you're investing at least 10% of your gross income. If you followed steps 1-4 exactly, you should have lots of breathing room in your budget now. If this is true and you want to invest more than 10%, go ahead, but be sure to reward y

t?

As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel

ourself too and live a little. Grow your emergency fund to a level you're comfortable with (2 or more months of income is a good start.) If you have young kids and you want to send them to college, start putting money into a college fund of your choice for them, if you haven't already. Throw

ping new procedures for reviewing their safety, efficacy and quality.

Professional from academic institutions, pharmaceutical industries, health care indust

a bigger party than usual when this is done.

8. Pay off your mortgage and throw your biggest party yet! You can start towards this by refinancing to a single fixed rate mortgage (your credit should be in pretty good shape having paid off all your other debts.) If it's a 30 year mortage, pa

y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products

y more than your monthly payment to dramatically lower the amount of interest you give to the bank. If it's a 15 year fixed - wow! That's excellent!

9. When you're totally debt free, regularly give away whatever you think you can afford. It's good for the soul!

Easy? Not. Worth it? Doing t

.

As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de

he above will pay dividends in your life in many more ways than just dollars and cents. You will assure yourself a dignified and financially secure retirement. Do this well and you will also build a way for your kids and your grandkids to enjoy prosperous lives, and they will remember you wi

elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.

Companies that provide selfless information through particip

th fondness and respect long after you've moved on to the other side. Now get started!

Millionaire 2020™ can help you cut through the nonsense and get you on the path quickly to good budgeting. Check it out at http://www.homerworks.com.

tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products

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