Money Management – 5 Helpful Tips for Money Management

• BBR Productions Inc : Money Management – 5 Helpful Tips for Money Management

Money needs to be managed to maintain a growth of savings and wealth. Spending money takes away from having money to spend. Learn to spend money on essentials to allow organizing income over expense for later investments. These five tips on Money Management will guide the flow to wealth.

1) Download a Budgeting APP into the phone. As money is spent or earned, keep recorded directly and instantly into the APP. This habit building activity will make any individual aware of money in and out and keep them under CAP of that budget.

2) Spend less than you save. A simple idea with major benefits. If the money is not there to spend, then don't spend it. Save money, and forget about it until the time is right. Your budget should help maintain a controlled expense.

3) For unforeseen expenses, adjust by taking smaller portions into consideration. If new tires each year cost $400 ($100 a tire), divide that by 12 months, which equals $33.33 a month. This can be placed into the car expense, waiting for the day tires are needed.

4) Place CAPS on your bank account so no more than 'X' amount of money can be withdrawn. Or take out the weekly amount and keep the cash handy. If need be, take the cash out weekly and place it into a separate account (like a personal stipend). Or entrust money to a personal Treasurer.

5) Place financial goals in writing. Know how much saving leads to a 'Safety Net', how much will pay off debt over five years, keep a record of which investments will make sense in three to five years. Seeing these goals written how set up SMART Goals for security, growth, and your dream!

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Money Management – Invest the investment

• BBR Productions Inc : Money Management – Invest the investment

When a dollar becomes two then make the best of that gain. Wealth comes from investments. Smart investments come from organizing money so there is cash flow to play with. As investments earn income there are smarter ways to utilize that capital gain. Two specifically. 1) Take off the top from the initial investment, and reinvest it. 2) Organize the capital gain into the 3 Needs of Purpose.

When investments earn that capital gain this difference should be taken off the top. Leave the original investment to continue according capital gain throughout the year. That difference off the top can be reinvested into other assets to allow growth in an investment portfolio. Diversifying future investments helps to protect and can help secure a successful risk free attempt.

Capital gain can also be placed into the 3 Needs of Purpose to help add to Security, Growth, and Dream. Working to continue to protect future investment risks, unforeseen issues, and keeping stress levels down. Growth is allocated money dedicated to investments and thus is play money for such opportunities. Dream is designed to give any person a chance to reward themselves.

PS... Can you find the monkey?

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Money Management – Budgeting vs a Budget

• BBR Productions Inc : Money Management – Budgeting vs a Budget

The difference between both Budgeting vs a Budget comes with process vs preparation. Budging is maintaining a cost effective spending cap. Spending less than is saved. Where as a Budget is the figuring of those caps. To budget is to set caps and restrictions. Figuring out each category of where and when to spend. Mastering how Budgeting works begins with understand a budget.

Starting with an average month expense list. Take that list to organize categories and place caps on those expenses. Figure out which expense are Wants vs Needs, and cut accordingly. Eating out is usually a 'Want' which can be cut fairly easily. Leisure is also a 'Want'. A 'Need' is rent, groceries, utility bills, hygiene, etc. Take 3 to 6 months of past bank statements and add up each category expense.

Once these Caps are figured into a person’s lifestyle it comes down to habit building. Keeping to strict restraints until money begins to overflow into a person's '3 Needs of Purpose'. Learning to organize and prepping for future months helps take managing control back over a financial budget. A yearly expense should be saved a little each month. That's a nice helpful truth!

PS... Can you find the monkey?

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Money Management – Cover your expenses

• BBR Productions Inc : Money Management – Cover your expenses

Figuring out a budget creates monthly caps which are based on a monthly average. Normally it is suggested to take 3 months and average them out. However, a full year gives a better overall example of an average monthly budget. By taking the Monthly Average and multiplying it by 3, it sets a cap total for covering expenses up to 3 months.

This money saved is known as a 'Safety Net'. Or total covered expenses. The best way to approach a Safety Net is by maintaining 3 months of capital into a designated account. Always maintain 3 months worth of capital within this account. While any money over expenses can now be placed in 3 other accounts known as the '3 Needs of Purpose' : Security, Growth, and Dream.

Continuing this process helps to grow strength in fueling a long lived company/life. Allow Security to protect calculated opportunities to risk chances. Growth is allocated moneys to place into investments. Stay aware of small investments; Stocks, Bonds, Mutual Funds, Intellectual Properties. Then move onto larger investments; Real estate, Businesses, I.O.U.'s, and Commodities.

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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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3 Needs of Longevity – The value of self and others

• BBR Productions Inc : 3 Needs of Longevity – The value of self and others

Without self awareness a person has nothing. A single life is designed to strive forward alone. When it accepts a strength, responsibility, and fearlessness to take a chance; A person can lead people, through any adversity, to success. Belief in self is the beginning of success: along with Inner peace, enlightenment, and strength. The strength to persevere can change failure to success. Once a human has managed to grasp their center they can move forward with clarity and a sense of direction.

Learning to manage your time and money is secondary to centering. Without centering, the mind and body, all things will be seen queer of purpose. To shape up Time Management get organized with S.M.A.R.T. Goals to dedicate Task hours. Budgeting Caps will focus Money Management, while giving time to mediate, relax, work out if necessary, and of course eat healthy, to maintain a strong connection between that mind and body.

Confidence resonates with people. A Leader with a strong sense of direction, while leaving room to listen to their team, will get people to listen. An individual centered in their own life has habits and values to lead others by example. A true leader of people should become a barometer any team; not their controller. As a manager of tasks for a group, it is best to know position. A manager is part of a team not in control of a team. Work together, and educate others to be in control of themselves.

PS... Can you find the monkey?

Call our office : 631.599.2263

Or Email : Main@BBRProductions.com
Visit our website : BBR Productions Inc