The Budget is the Key

The Budget is the KeyIf you were to ask me what is the key ingredient for financial success, I would tell you the same thing I have told everyone since 2008 when we finished paying-off our consumer debt:

The answer is you have to learn how to live on a monthly zero-based budget.

This means that every month before the month begins, you list all of your income on one column, and on the other column you allocate every dollar available to a category.

On your budget sheet, the equation of total income – total expenses should equal zero.

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Here is what will happen when you start living on a monthly budget:

  • You will be able to tell where your money is going and you will be able to see in which areas you are overspending.
  • You will have have the information needed to prioritize your spending and put your basic necessities first (food, shelter/utilities, transportation, clothing).
  • As you learn and adjust your spending patterns, you can start to allocate money to emergency savings.
  • With your spending under control, necessities covered, and savings built, you can then allocate anything extra to paying-off your consumer debt.
  • When you pay-off your consumer debt, you can then start working on saving for retirement and college expenses.

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Without a working budget you can’t control your money.

If you can’t control your money, you can’t build savings, you can’t pay-off debt, you can’t plan for the future.

A working budget is the key that will open the door to your financial wellness.

You can start today and I can show you how.

“Economy is half the battle of life; it is not so hard to earn money as to spend it well.”
Charles H. Spurgeon

10 Things I Want for You and Your Money

10 Things I Want For Your MoneyThe blog is back!

As you probably know, I have been going through the process of changing hosting providers for the blog.

Because of that, I have not been able to add any new content over the last couple of weeks, and that has given me some time to think.

It has been just about five years since I started on this adventure of being a financial coach and blogger.

So I have been thinking about why I started doing this in the first place.

I started because I want you to win and prosper with your money.

I want you to experience the same blessings my family has received as we have learned to handle money.

With that in mind, here are 10 things I want for you and your money.

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  1. I want you to have control of your money and have the ability to decide how it is going to work for you and your household.
  2. I want you to be free once and for all from the chains of debt. Walk in your own financial strength and let your money benefit you and not the banks.
  3. I want you to experience the peace of mind of being prepared for emergencies.
  4. If you are married, I want you and your spouse to stop fighting about money so you can build your future together, as a team.
  5. I want you to leave a legacy of financial wisdom to your children.
  6. If you are single, I want you to know that you don’t have to walk alone in your financial journey. You too can win and prosper with money.
  7. I want you to have options for your future so that when the time comes you retire on your terms to do what you want to do with your time.
  8. I want you to have a complete financial plan and I want you to be in a position to take care of your family well.
  9. I want you to experience the joy of being an extravagant and generous giver.

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And last but not least, I want you to have hope with your finances. I want you to be able to dream again about your future. And, I want to help you with that.

Yes, you can win and prosper with money. Yes, you can be in control of your financial destiny.

So, let’s get started today!

Question: What’s keeping you from winning with money?