Tag: Budgeting
Over-Budgeting 2: Low Expenses, High Income
Now, if we decide that we must be over-budgeters, then there is a way to use this trait to our advantage. Wealth is having excess income versus expenses. In layman’s terms, we live below our means while producing outrageous revenue. You see, for most people, lifestyle inflation becomes the silent killer of their wealth. What…
The Invisible Budget
Dang! Where did all my money go? Have you ever wondered this before? I call this the phenomenon of the invisible budget. Today, I will review the invisible budget and how to lessen its effect on your lifestyle. That’s right; you will not be able to defeat it. The invisible budget is also called “the…
Why Budgeting is Important to Wealth Creation
Why do people hate budgets? I know that I used to hate the idea of budgets. I would give myself a wide $200/week budget for stuff that I wanted to buy. I think it is because people, especially us Americans, hate being told what to do. “I earned my freaking money, and gosh darnnit, I…
What we spend, save, and invest monthly, as a family of 4
I remember the day I decided to get married. It was in Helsinki, Finland back in 2006. I had no idea what to expect from a marriage. I know that my marriage wasn’t going to look like my parents, so what was it going to look like? I was okay with money, not to savvy,…
Running a household is akin to running a business
When I first got married in 2006, I had no idea what I was doing. I was a young E5 (25 years old) who only knew what my parents taught me about marriage. Which wasn’t much. So my wife and I jumped into “playing house”. We did pretty well. We didn’t set the world ablaze,…
I give myself $60 a week for my personal budget
Wow! I remember when this amount was $200 a week. It has been a long road to being able to understand the value of money. I grew up without much money, so I always thought that I knew the value of money. I never bought brand new or expensive cars. I never was into expensive…
How to Budget: Investment Budget
Now that you have figured out your house budget, you should know EXACTLY how much it costs for you and your family to live per month. You should then subtract that from your total income. The remaining pot of money goes into two separate budgets; investment budget and personal budget. Why do we need an…
How to Budget: House Budget
First, let’s review what the 3 types of budgets are. The 3 types of budgets are House, Investment, and Personal. We are going to focus on the House budget for this article. The best advice I can give you when starting out is to be completely honest. Hiding some expenses can really hurt you in…
3 Types of Budgets
Budgeting is the #1 way to becoming wealthy. We need to understand how much money is coming in and how much money is going out. We also need to discover if our money is being spent in the most efficient manner possible. As soon as we get paid we split our money into 3 distinct…
Can you invest when having a family?
Yes. Yes. Yes. It will be a little more difficult and your gains may not be as fast as a single person, however, you will be just as rewarded. Here are the first steps to start your journey invest with a family. Create a super detailed budget. You need to track every single expense down…
