Money Management.docx

MONEY MANAGEMENT

‘It's not about how much money you earn. It's what you do with the money that matters.’

Know this:   

5% of wealthy people possess ‘Generational wealth’ i.e passed onto them through family. 15% of population is the middle class with a nice house, savings and some vacations here and there. 80% of people are those that a) Have to make money when old b) Depend upon family when older

AKA people who never have enough money

Observe Carefully:  Business strategy for money management (80%) AVG ACCOUNTCheck-personal account 

Get money and start spending

 Business strategy for money management (15%):

Checks--> BUSINESS acct

Home account

Tax account

Bus expenses

 What the wealthy do (no one will tell you):

Home expenses

CHECKS

Cash acct

S29B

Investment acct

Biz acct

TAX acct

Biz expenses Retirement acct

Stock Market

Real estate (cash)

 From check to directly tax.  No more than 10% go to biz expenses  FINANCIAL HUB (red line) o Where the money comes in and gets divided again o This is an example to what money left behind after taxes might go  S29B: College fund  Cash account: fun, shopping, vacation, holidays.

WHAT ACTIONS ARE YOU GOING TO TAKE IN THE NEXT 30 DAYS AFTER THIS INFORMATION?