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ASAP Finance: Financial Literacy, Budgeting Thumbnail

ASAP Finance: Financial Literacy, Budgeting

Personal Finance Financial Wellness

"A budget is telling your money where you want it to go instead of wondering where it went." - John C. Maxwell

Chris revisits the household finances of Jim & Jane from the Know Your Savings Rate video.  Using the same income and savings profile described in that last video for this  family, Chris shares a look at where their money is going by way of examining their budget.  With an examination of where dollars are going (or meant to go*) to meet Jim & Jane's current expenses, it is determined that there is an additional $500 available at the end of each month.  The intentionality of where these additional dollars go - whether to strengthen longer-term savings goals (retirement, college, vacation property, etc), saving for a shorter-term goal (a vacation, new furniture, bathroom remodel, etc), or determining an appropriate amount to enhance current lifestyle  - keeps your dollars (and yourself) accountable to the more meaningful financial priorities you have for your life.  

Let us know your thoughts, questions, or if we can provide you with a budget worksheet by emailing us at info@proplanwealth.com.  THANKS for watching!