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How to Budget – Step 2 – Income Vs Expense
Take that list of your major expenses you created in Step 1 and list them for one month. Create one column and put your rows of expenses near the bottom half of the page. Income Now let’s go up to the...
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How to Budget – Step 3 – Take It All The Way to 12 Months
Now here is where your budget will become far more advanced than everyone else’s: • Copy your one-month column 12 times so that you cover all 12 months! Yes, our budget is going to go for the whole...
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How to Budget – Step 4 – Add In Those Special Times
As I’ve already expressed, your entire year is not just one month multiplied times 12. Your year is full of different events and one-time events that can greatly influence your money. The next step is...
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How to Budget – Step 5 – Apply the Formula for Success
Every great budget follows one simple formula: • [ Money In > Money Out ] = Good Or in other words … • [ Money In – Money Out > $0 ] = Good Basically you’ve got to have more money “coming in”...
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How to Budget – Step 6 – Adding In Your Investment Goals
So after Step 5, does your budget meet our goals? Did you make adjustments and sacrifices? Do you have a positive balance for each month throughout the year? Is less money going out than is coming in?...
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How to Budget – Step 7 – Sticking to the Plan!
Time to test the gold in fire. Earlier I told you that a well designed budget would be the key to money management and staying within your means. This is still true. If you’ve created something that is...
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How to Budget – Making It Easy with Mint
At many times throughout this series and especially in Part 2, I told you not to worry just yet about your individual credit card purchases and to treat them all as one “big category”. The reason I did...
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Guess What – You Might Be Richer Than You Think!
Do you feel like you’re rich? When you talk to your friends or neighbors, do you feel like you’re at the same level? Or do you feel like you’re barely keeping up? This might sound crazy, but when you...
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Don’t Quit Your Day Job Yet
Congratulations if you are an entrepreneur. Congratulations if you have already amassed great wealth. Congratulations if you have an early exit strategy all planned out for one day retiring from your...
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What is Financial Freedom – The Easy to Follow Explanation
The tagline to My Money Design has always been designing financial freedom. For as long as I’ve been into reading financial books and blogs about money, I’ve seen a lot of them try to answer the...
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