Get an Abundant Necessity Account With a Strong Money Management System in Place

Get an Abundant Necessity Account With a Strong Money Management System in Place

Does it seem like you donot have enough money at the end of the month or are you afraid just a few days before your next paycheckwhen youraccount dips todouble digits? Are you "budgeting to spend" your income or saving for that one big trip but not able to manage your money very well? There is a way out, I've been applying an effective but easy to followmoney management system I learned from attending a Millionaire Mind Intensive (T. Harv Eker) seminar. These wealth principles are so basic, yet no one else out there (including all of the schools we attend)seem to be teaching what to do with your hard earned cash. Sure we learn how to get good grades, find a paying job and learn from the television where to spend all of our income because everything is on sale.

The wealth building money managementsystem issimplymultiple accounts in which any income gets divided into them accordingly. Sounds maybe too simple until you understand all of the different accounts and their meanings to your new found abundance of wealth.Start bycreating accounts for your "Financial Freedom", "PLAY", "Long Term Savings for Spending", "Education", "Give" and lastly "Necessities". The percentage into each account can be personalize to fit your current situation and should be altered in the future as you gain experience managing your money better. Most accounts are set at 10% with the exception of the "Give" account at 5% and the "Necessities" at 55% for a starting point. The most important rule is that the accounts are separate and are to be used only for item related to the purpose of that account.Know that the money that's in your PLAY account is for you to spend each month on your rich-fun-self and money in the financial freedom account only every invested in your future retirement needs. Attend the 3-day seminar event to understand the complete details and rules of each account from a master millionaire himself, you can getFREE tickets to the event nearest you on my website, please visit the link below.

Let's take a closer look at the "Necessities" account.This is one of the first areas you quick learn how good your money management skillsreally are.Prior to implementing this money management system you hadyour entire paycheck available to spendto covermonthly bills, groceries, clothes and daily habits. Well ofcourse ourelected government friends already took their share of your paycheck first, let's say it was 30%, so this means previouslyyouhad 70% of your income to live life on. Now with T. Harv Eker's money management system youhave only 55% of that 70%equaling 38.5% of your income to cover all your monthly bills. What! Absolutely right awayyou are goingto make some tough decisions about needs vs desires (want) to have. For most this is an improvement, as bad habits are noticed and reduced or eliminated. Remember you can only spend what is in each account on the purpose for that account so no borrowing from one account to cover over spending in another, learn to live with your future as top priority. Committing to stay with the money managementsystem will be a challenging but if you are doing this right you'll always have money in the different accounts and more importantly you will be building towards a financial freedom. Because the other accounts are for your retirement investments, PLAY money to spend guilt free, financial education funds to learn more about how to build assets, savings for your nextserious purchase and giving back to the community just because your financial situation allows you too.

I am going to share a secret about money management and specifically the "Necessities" account I discussed above. You can make your moneypurchase more by simply learning to be a wiser shopper.I'm not just saying buy stuff only on sale, I am saying learn to get groceries for next-to-nothing.Here's how I have been applyingsome wealth secretsto my grocery bill. For the next-to-nothing groceries I use the principles brought forward by Stephanie Nelson in her book The Coupon Mom's Guide To Cutting Your Grocery Bills In Half.Perhaps you think coupons are for the less fortunate butlet me put this in perspective for you. Are you so rich that you don't care what you pay for something? NO. So learning how not to pay full price for anything every again is certainly an ability, no a habit, that I am willing to experience again and again.How about this, your money is going further because you are not paying full retail price, you do not have to buy less because your budget (remember that 38.5%) is lessbut because you plan, strategize and save on all your purchases from now on youcan actually buy moreand createan abundance of food. This I amlearning constantly makes you feel great, a car load of food and I still have change from the twenty dollar bill I started with. Seeing your fridge full of the foods you enjoy and having selection in the cupboards for whatever fills you up, creates afeeling of successfulmoney management. And for anyone who has already read "The Coupon Mom" you know that it all started with a need to give to charities, in fact you too can give items you get for free to your local food-bank and contribute to someone else's life by learning to be a strategic shopper.

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