Sunday, September 6, 2015
Money Management – Organizing Money
• BBR Productions Inc : Money Management – Organizing Money
Organizing money is key when managing finances. Where to place the income to pay expenses, and to sort out moneys over expenses. There are four accounts every business should have: In/Out Flow (Safety Net), Security, Growth, and Dream. Each of these accounts have a specific function(s) to help better see any company prosper from utilizing money to mastering wealth.
In/Out Flow: also known as a person's Safety Net, is the main bank account. This is where all money earned and expenses go through. Any money over a Three (3) month Budget Safety Net (known as Money Over Expense or MOE) is then given the 60/40 ÷ by 3 action. That split is placed into the 3 Needs of Purpose; Security, Growth, and Dream.
Security is to protect an individual/company when there is zero dollars left. It is the last resort 'Need'. Growth is allocated toward investments. Placing any money in this 'Need' into smart Assets. While leaving a Dream 'Need' for the things an individual/company desires. A vacation, new house, a company celebration. Learning to organize money is the first step to mastering Money Management.
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