4 tips to plan for a ‘Budget Surplus‘ are noted in this book Increase your financial IQ - robert:
Budget tip #1 – Change your thinking and make spending for a budget surplus a priority by making it an expense to pay yourself first. The first expense each pay check should be to yourself for your financial freedom then start paying your other expenses. Don’t make it negotiable. If you want something extra then find a way to earn more.
Budget tip #2 – Know your cash flow and what you’re spending on or expenses are to get control of them. If your know your expenses your can see if your plan is working to create a ‘Budget Surplus‘ or ‘Budget Deficit‘. So work the plan in your favor to create the surplus.
Budget tip #3 – Assets should pay for liabilities, use your earned money to create assets (positive cash flow) these then pay for your expenses or liabilities. Make your money work for you by using it to expand your income potential then this money can pay for your new car or your flat screen TV.
Budget tip #4 – Know how and when to spend to become rich or when to cut back. Spending to increase your income or money growth is key, knowing that your knowledge and skills are important assets but also
learning to do more with less. Be smarter with your money to have more is not about cutting back but about challenging yourself to find a way to afford what you need.
Note:-Budgeting your money is a portion of what’s needed for a complete money management system. The important aspect to take away is make paying yourself first non-negotiable, the ability to control spending habits and to create assets to then pay for expenses.
Budget tip #1 – Change your thinking and make spending for a budget surplus a priority by making it an expense to pay yourself first. The first expense each pay check should be to yourself for your financial freedom then start paying your other expenses. Don’t make it negotiable. If you want something extra then find a way to earn more.
Budget tip #2 – Know your cash flow and what you’re spending on or expenses are to get control of them. If your know your expenses your can see if your plan is working to create a ‘Budget Surplus‘ or ‘Budget Deficit‘. So work the plan in your favor to create the surplus.
Budget tip #3 – Assets should pay for liabilities, use your earned money to create assets (positive cash flow) these then pay for your expenses or liabilities. Make your money work for you by using it to expand your income potential then this money can pay for your new car or your flat screen TV.
Budget tip #4 – Know how and when to spend to become rich or when to cut back. Spending to increase your income or money growth is key, knowing that your knowledge and skills are important assets but also
learning to do more with less. Be smarter with your money to have more is not about cutting back but about challenging yourself to find a way to afford what you need.
Note:-Budgeting your money is a portion of what’s needed for a complete money management system. The important aspect to take away is make paying yourself first non-negotiable, the ability to control spending habits and to create assets to then pay for expenses.
No comments:
Post a Comment