Budgeting – 5 Does to help you Budget

• BBR Productions Inc : Budgeting – 5 Does to help you Budget

These five helpful budgeting “Does” will make any budgeting system go much smoother.

1. Spend less than you save : Live within your means. This is a simple rule for wealth growing while utilizing a budget. Buy within a budget. Over the year a monthly spending average could raise or lower based on spending habits. Stay within Cap Budgeting Numbers to maintain growth. When cuts can be made, take advantage of this situation; you have earned it!

2. No credit cards : Credit cards accrue debt. When no money is saved over a person's budget, then a Credit Card purchase should not be made. If a Credit Card is a necessity, then purchase only if the complete value is in an aside spending pile. This will help grow a line of credit and build your value. However, once Wealth grows, a line of Credit will not be needed.

3. Create Investments to Buy Wants : To purchase a car, house, or items that will accrue a loan payment, develop an investment. This investment will pay for the Want. A house has a mortgage which can cripple individuals living on a shoestring budget. Having an investment earning money over expenses will make purchasing things like these easier on the wallet.

4. The 6 month rule : If ever you want to purchase anything look at your monetary situation. If you purchased this item and lost your job on the same day, could you maintain a comfortable lifestyle and pay all your bills off within 6 months? If the answer is NO, then you cannot afford this item. Thus, save up for this item over your established budget so it does not cause issues.

5. Guess Low for Income, Guess High for Expense : You want to always be ahead of the game with free wiggle room. If a paycheck average is $263.00 a week, round down to the nearest dollar increment: Record it in your budget as $250.00 a week. Expenses should be Budgeted higher than their average by rounding up. Electric Bill averages $163.00 a month, record it in your Budget as $200.00 a month.

PS... Can you find the monkey?

Call our office : 631.599.2263
Visit our website : BBR Productions Inc

Budgeting – Helps create opportunities

• BBR Productions Inc : Budgeting – Helps create opportunities

When a Budget is in complete control savings grows, as well as the 3 Needs of Purpose. This circulating system propels opportunities. Most people work very hard for an extremely small amount of money. It should be the other way around. Money should be working extremely hard for a great deal of Wealth Earning. While this is happening, a person can live their life and enjoy moments. Moments are fleeting, this is why it is deeply important to focus on Budgeting.

Understanding how Money works vs Wealth growth changes walls into roads of opportunity. Study the value of wealth. Wealth is the length of time a person can live comfortably without needing to recoup income with their time. This is accomplished through investing. Hiring companies who can handle these investments will ensure a greater percent of success, and wealth protection. Wealth Knowledge combined with Budget Awareness helps create opportunities.

Another fun game people should do is study the history of money. More importantly, currency. Why, how, and when currency was created. Knowledge is power, and when it comes to money, money's history, and how it influences currency, gives an individual more power over their life. Freedom comes from being aware. Live life in control of finance, and break free of the chains that money can throw over us as people.

PS... Can you find the monkey?

Call our office : 631.599.2263
Visit our website : BBR Productions Inc

Budgeting – Building your savings.

• BBR Productions Inc : Budgeting – Building your savings.

Once a Budget is set into place this allows for “Money Over Expenses” to be allocated into a Savings account. This is one way money can be utilized over expenses. However, there is another way. It's called the 3 Needs of Purpose: Security, Growth, and Dream. Security protects money while investing it through the Growth need, allowing money left over for desired Dreams. How to feed these 3 Needs of Purpose? This happens with “Money Over Expenses”. It's called the 60/40 split.

Simple math makes this process very easy. A person earns $1,000 for the month. Their personal Monthly Budget is $900. This leaves $100 for “Money Over Expenses”. This remaining $100 is pulled into the 60/40 split. 60% of that $100 gets placed evenly into the 3 Needs of Purpose. The remaining 40% is placed into Savings. Since a Budget is designed to cover all expenses, anything left over is play money. This is a smart way to look at money coming in and going out.

Maintaining a Budget is a great start to building a big pile of Savings. Placing money into the 3 Needs of Purpose helps generate future wealth opportunities. Then, there is the 3 Month Safety Net. This is a person's Monthly Budget multiplied by 3 and that total delegates a Cap for Money Over Expenses to accumulate. This will provide additional protection with three months of life accounted for, while also giving an individual a strong foothold on their 3 Needs of Purpose, and Savings!

PS... Can you find the monkey?

Call our office : 631.599.2263
Visit our website : BBR Productions Inc

The $100,000 Game

• The $100,000 Game

Rule of thumb: If you don't have it in hand, you don't have it to spend. Just because money is coming in, does not mean it will continue to come in. We must spend as if it is not definite. When you have an interest to purchase or spend money, look at your life in the future. Six months into the future. If you lost your job, stopped earning money through asset investments, had no form of money coming in anymore starting today, could you pay off all your bills to a zero balance and survive for 6 months? If the answer is NO, than it might be a bad risk to take. Invest into an Asset to generate extra income to pay for things you desire. In time, your patience, and your investment will be strong enough to buy anything you so wish for. Why do we invest money, instead of spending money? Rule of Thumb: Spend less than you save. The $100,000 Game. Get out a piece of paper, then write down what you would do with a $100,000 given to you free and clear. Write it out, then come back to this point. below are things you may have written.

• Pay off all my bills, loans and other debt

• Buy a car(s)

• Buy a home(s)

• Treat myself to something special, I've earned it

• Give some money to charities

• Help out family and friends where I can

• Buy the company I work for and fire my boss!

• Purchase an Island and live there

Here is why these are all uneducated purchases. These are all liabilities and cost you money to maintain, have, or do. They are not Wealth generating Assets. If you buy all of these things and pay off all your bills what happens to the $100,00 dollars? Where does it go? Why spend the money till you have none. Then you would have to recoup that income just to get back on your feet. How about using this money as a “Bonus” Take 60% of that $100,000 and divide it into your 3 Needs of Purpose. That's $60,000 you have just created opportunities with. You are left with 40% to do what you wish. I would utilize this 40% to sustain your life through a continuous budget that you have generated. With that mentality, you are still living below your means, surviving and giving yourself protective opportunities.

At this point, you now have money to invest, while having money protecting you. The left over $40,000 is money you are spending wisely to keep you living without worry or fear. Living within your means is a educated move. With money in your Growth need, start investing that money to earn spending money. Because money earned on investments is considered your play money. This is the Shave it off the top money you can delegate how ever you please.

Feel free to ask other people the same questions and compare answers.

• Read 3 Needs of Purpose to understand the 60% divide.

PS... Can you find the monkey?

Call our office : 631.599.2263

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