#ManageMoney

[yourownbank]

In the ever-evolving world of #personalfinance, the  “infinite banking Book” has gained traction among those seeking alternative ways to manage money and build wealth. This approach, also referred to as “Becoming Your Own Bank” or the “Bank On Yourself” method, promises to revolutionize how individuals interact with their finances. But what exactly is infinite banking, and does it live up to the hype? In this comprehensive guide, we’ll explore the ins and outs of this financial strategy, its potential benefits, criticisms, and how it compares to traditional banking methods.

[goldenbullsindia]

3 Things To know about money. Make It, Manage it & Multiple it.  Visit us at-   https://www.goldenbulls.co.in/

[timesorcerermystery]

[uluka]

This guide will cover everything you need to know about personal finance. You'll learn how to make more money and be financially secure.

[bookstagramthinker]

😰😰😰 . . . . . #finance #managemoney #money #moneymoney #moneymaker #moneyquotes #finance #financialfreedom #financialindependence #selfcare #selflovequotes #selfworth #selfworth #success #successquotes #successful #successminded #successmotivation #successful #successtips #successquote #successhabits #successfulmindset #successcoach #successminded (at Downtown Calgary, Albert, Canada) https://www.instagram.com/p/CW43eA3FApN/?utm_medium=tumblr

[dividend-life]

Here is a breakdown of my expenses for September 2021. A little late, but I was a little busy. My biggest expense is still my loans (mostly mortgage). That's gonna be sticking around for quite some time. #managemoney (at Jersey City, New Jersey) https://www.instagram.com/p/CVSy_KRAMGw/?utm_medium=tumblr

[timelybillsblog]

Get Your Family Expenses Under Control In Just 4 Months.

Having a family is one of the most rewarding and fulfilling things we have in our lives.

But that doesn’t mean if we have a family then we have everything set and we won’t ever have any challenges in our life.

As your family starts to grow so does your list of bills and expenses. It can be shocking how quickly little purchases can distract us from the goals we have for our family.

If you aren’t careful, you can quickly fall down the hill of the financial slippery slope.

Here is a plan that will help you get your family finances back on track in just four months’ time.

Month 1 – Get your family on-board

Before you even start to look at your budget you need to have a conversation with everyone in your family. It doesn’t matter how old they are, get them involved.

You need to make it clear that your spending habits are going to change but don’t forget to explain why you are going to be making these changes. Don’t forget to explain how these changes are going to help your family.

Instead of sending your family into financial shock take this first month to ease your family into a new habit of spending. Go through your bank statement for the last month and make a list of all the “extras” you spent money on. Pick two of your biggest financial habits (eating out for example) and take this month to cut back a little bit.

Month 2 – Set the budget

This is when you are going to figure out all of your expenses and compare those numbers to your income. Are you over spending? Are you cutting it a little too close for comfort each month? Are you able to set some money aside for emergencies? These are all questions that you need to answer when getting your budget set up.

Follow these simple tips while preparing a family budget:

List all the commodities and services needed by the family members throughout the budget period: All the expenditure of the family for a particular period should be written under a variety of budget heading. Omission of any items of expenditure during this period makes the budget a failure. 

Estimate the costs of the desired items: After listing the items of expenditure it is necessary to estimate the cost of each item as accurately as possible. The total costs of all the desired items should be estimated so that it will become easier to make a balance between the total income and the total expenditure of the family.

Locate Fixed and Variable Expenses: Your family budget might include Utilities (electric, water, etc.), Secured Debts (mortgage), Unsecured Debts (credit cards), and Discretionary Spending (lunch, clothing, etc.).

Control Discretionary Spending: A tried and true way to manage discretionary spending is the envelope method. The money you allocate for everyday expenses goes into an envelope each month.

Be accountable for every dollar your family is spending.

Month 3 - Cut your spending and establish new habits

You now have a custom budget set up for your family finances and have had a chat with your family about how some changes need to be made. Now is the time when you convert all of this talk into action.

Make it your family’s goal to stick to the budget you just set! Evaluate where you stand at the end of each week. See how you guys are doing at keeping to your financial goals. If you have fallen off a little bit, get back up and try again.

Month 4– Review and make adjustments to your budget to make it more realistic.

Evaluate your budget, as it will help in revealing the hidden problems in your spending, known as budget leaks. This financial check-up will help you optimize your budget over time.

Use S.M.A.R.T. acronym to test and adjust your goals:

Specific—State your goal in a few well-chosen words. “We want to purchase a car by the end of this year”.

Measurable—how will you know you’ve achieved your goal? “How much will it cost?”

Achievable—it must be something you can accomplish financially given your means. “Can we save that much given our current and predicted future income?”

Realistic—even if achievable, does it make sense in your situation? “What will we have to give up and is that OK?”

Time-based—your timeline will tell you whether this is a short, medium, or long-term goal. “How long will this take?”

Remember it’s not going to be easy, but you are going to be so happy that you made these changes! Your entire home will become a happier and calm sanctuary for your family.

Throughout this entire process of getting your family finances back on track, remember to keep the positive at the forefront. Why are you cutting back? Are you getting rid of your debt? Are you saving for a family trip? It would be a good idea to write down your end goal, frame it, and put it up somewhere in your house. It will be a great way to keep your eye on the prize!

In the meantime, here are a few more articles that can help you live pretty for just pennies:

FIVE  EASY WAYS TO MANAGE FINANCES WITH YOUR FAMILY.

PANDEMIC AND BILLS! Habits to adopt

How to become financially sound with family money management

[teacherg]

When the market is high, you say " it is too expensive" When the market is low, you say "It is too dangerous" So you sit on the fence and wait and wait .. Waiting for the perfect timing. Did you know there is no perfect timing ? Do you know how ? #timing #gazellePenang #money #managemoney #growyourmoney #financialliteracy #whattodo #time #moneymatters101 #moneymoneymoney https://www.instagram.com/p/CBmLuwsn-BU/?igshid=1so9i8o1aiuuj

[goldenbullsindia]

3 Things To know about money. Make It, Manage it & Multiple it.  Visit us at-   https://www.goldenbulls.co.in/ 

[simplifinances]

5 years go today, I asked for my wife’s hand @m__kenzie in marriage. What was she thinking!? I must have had her under some spell because she was crazy enough to say yes! If you’re curious how I proposed to my wife 5 years ago click the link in my bio. You’ll be able to see the video and read about our story. It’s hard to believe our proposal video has over 3.5 million views! #proposal #marriage #5years #proposalvideo #happilymarried #marriageproposal #married #marriedlife #marriedliferocks #moneymanagement #managemoney #manageyourmoney #money #budget #budgetsystem #budgetingsystem #moneyjars #jarssystem #jarsmoneymanagement #thejarsmoneymanagementsystem #moneymanagementsystem #jarsofmoney #jars #cashinjar #jarmethod #moneyjarsystem #simplifinances https://www.instagram.com/p/B2wPAFDniwX/?igshid=wkde6zw9jdhm

[nevertoworkagain-blog]

Why Saving Money💰📊📈📉In Your Bank could be a BAD Financial Decision? * * Educate and Invest in yourself is the Best Investment! ** #RobertKiyosaki #RichDadPoorDad #FinancialIndepedence #FinancialFreedom #PassiveIncome #RecurringIncome #RetireYoung #RetireYoungRetireRich #MakeMoneyWorkForYou #SideIncome #FinancialEducation #CashFlow #CashFlowGame #ManageMoney (at London, United Kingdom) https://www.instagram.com/p/Bzr-zvHpeFr/?igshid=8d8g6h9ue261

[skillzme]

What your Myers-Briggs Personality Type Means for Your Wallet

Personality tests are used by many people in business, recruiting, and any kind of team organization. Learning more about what motivates you, your interests, and even your shortcomings can help you better develop your skills.

Amanda Tallent is a content creator who helped Mint create this infographic. Her background in digital marketing and creative writing has led her to cover unique topics related to business, lifestyle, and personal finance.Understanding personality types of people you work with can improve your relationship and help you work more efficiently together. Discovering your money personality Since personality tests are so common, it shouldn’t be a surprise that your social behaviors can be applied to your money management tendencies. You probably manage your money very differently from your close friends.

Whether you’re a spender or a saver, we all have different priorities and motivations.

You may value indulging every once in a while on something that makes you feel good. On the other hand, maybe you value accumulating money for the future and rarely make impulse buys. Learning more about your personality can help you understand your decision process and behavior when it comes to spending or saving money. What is MBTI? One of the most common personality type tests is the Myers-Briggs type indicator (MBTI). It is used to measure how you perceive and interact with others, how you make decisions, how you process information, and how you manage your emotions. These four indicators used are also known as: Extroverted versus Introverted Sensing versus Intuition Thinking versus Feeling Judging versus Perceiving There are 16 possible combinations or personality types. Over time, some people become different letters as they grow and experience new things. How different MBTI’s handle money There are many versions of this test that can be applied to things like finding your perfect career path or even your soulmate. Mint created an infographic that takes characteristics of each personality type and applies them to how they manage money. Depending on whether your type is more conservative or free-spirited, they also outlined tips to grow your wealth. Dedicated Stewards: ISTJ, ISFJ, ESTJ, ESFJ People with this personality type rely on sensing and judging, making them more likely to be analytical and responsible with their money habits. They take great value in building a secure future for themselves. They are very well organized and pay close attention to even the smallest details. Wealth Builders: INFJ, INFP, ENFJ, ENFP Driven by purpose, wealth builders know the importance of money outside just accumulating it. They are usually curious and are interested in creating a better future. They can easily fall to inaction because of the daydreaming and continuous planning they are known for. Wise Analysts: INTJ, INTP, ENTJ, ENTP These personality types encourage challenging themselves to reach higher limits. They like solving problems and usually take a systematic approach to saving money or making investments. They can become impatient when they don’t see results right away but setting smaller, short-term goals can help fill that void. Bold Explorers: ISTP, ISFP, ESTP, ESFP Known as the more artistic and adventurous group, these personalities think out of the box and embrace change. They may be more willing to switch up their money strategies but are also more likely to indulge. Read the full article

[bookstagramthinker]

😰😰😰 . . . . . #finance #managemoney #money #moneymoney #moneymaker #moneyquotes #finance #financialfreedom #financialindependence #selfcare #selflovequotes #selfworth #selfworth (at Downtown Calgary, Albert, Canada) https://www.instagram.com/p/CW4nd6XFszi/?utm_medium=tumblr

[salesmentor-blog]

Are You Careful With Your Money? . Let me know in the comments... . Save This for future references. . Tag a friend who needs this. . #money #moneymanagement #investing #savemoney #spend #earn #moneymanage #manageyourmoney #managemoney #rich #success (at United States) https://www.instagram.com/p/BxwPm8GpiFu/?igshid=3h5tm5hwfkq2