3 Needs of purpose : Financial Budgeting

Today's Tip - 3 Needs of purpose : Financial Budgeting

Think of income as fuel. The more fuel you have the longer you can move forward. Do you need a lot of money? We like to think money is more of a want than a need. When dealing with life you want to earn/acquire wealth. Money is something you can spend, lose, or recoup. Wealth grows 24 hours a day while you live your life. It's always earning while continuing to strengthen. Invest your wealth into more wealth to help solidify that process. Since most people start off with limited money or in debt, work into your life a budget to help bring opportunity your way.

The secret to wealth is spend less than you save. It's that simple. Learn how to control your impulses. That's where budgeting your financial life first comes into play. Most people have “needs”, yet when dealing with “Needs” and “Wants” remember the difference. There are only 4 needs in a person's life; Sleep, Food, Shelter, and Emotion. Everything else is a want. Though we call the three sides of your Triangle of Life “needs”, we are representing the needs to success, and less a meaning of needs to ones life to live.

Once you can control your impulses for your wants then control your credit cards and loans. If you find yourself using a credit card this means you are spending outside your budget. Spending outside your budget is a sure sign you have spent more than you are saving. This becomes a cycle of digging a hole too deep to climb out of. There is always a solution to fill that hole back up and create security in your life. Taking control sooner than later will open more doors for possibility while giving you opportunities in your life.

Once you learn to control your impulse place that energy into saving 20% of your Income over expenses into each of the 3 Needs of Purpose; Security, Growth, and your Dream. Earning $1,000 a month against an expense of $500 equals $500 left over. Place 20% of $500, which is $100, in to Security. Placing another 20% ($100) into Growth. Then finally into your Dream Purpose, leaving $200 left over. Creating opportunities starts with 20%. One may not always have $300 to save, but one will always have 20% to place into each Need of Purpose.

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