Q: Do I need a budget? A: No, ya really don’t. Why do people budget? We know we should save money. Savings are necessary to fall back on in case of an emergency. Wealth is required so that we can eventually stop working (whether we choose to or not) and still live comfortably. Living a […]
3 Easy Ways to Expand Wealth
“What you focus on expands.” – Esther Jno-Charles Who wouldn’t want to expand their wealth? If the saying is true, and I believe it is…expanding your wealth starts with some focus. Here are three easy ways to expand your wealth simply by being intentional: 1. Know your monthly living costs. Living costs are the bills […]
Lastly: Spend the Rest
Last but not least…spend the rest! Having first paid yourself and next paid your living costs, the remaining cash each month is considered discretionary funds to use however you please. No lectures here…you have done everything right to this point so what’s left is yours to spend entirely. Discretionary spending is generally variable and optional. […]
Next: Wrangle Living Costs
After you Pay Yourself First, next pay your living costs. Which expenses are living costs? Living costs are the expenses in your life that are necessary or committed. These are recurring day-to-day or monthly expenses which are generally non-discretionary, so not easily reduced or avoided. They are mostly fixed in the short-term (such as rent, […]
Pay Yourself First
What it means to pay yourself first. Saving is to pay yourself. Paying yourself builds wealth to fall back on if and when you need it. Building wealth is essential to living and affording the life you want both now and also later in life when you no longer want (or are able) to work […]