Many rich people from different societies have achieved financial stability and wealth by starting with their monthly income. So, you can also do the same. Your income is your primary resource of money, and your first financial storage. It can make a remarkable fortune if you manage it according to the financial plan that you are going to read in this article. Even if you get a little income, this plan aims to develop your financial situation gradually. This simple and accurate plan requires real commitment to give its fruits in your current life and your financial future.
The plan’s idea
is to achieve two financial goals with one income. It enables you to balance between
the requirements of your current life and your financial future. It divides
your income into two main parts: 75% for your current life and 25% to guarantee
your future financial stability.
Section 1: current life / living requirements 80%
75% of your
total income will fall into this section which allows you to have balanced
spending to continue your financial plan. As it reduces the impact of pressures
that may hinder your entire plan which you should avoid from the beginning. 60%
of your total income is for your essential expenses such as food,
transportation, all basic living expenses. This depend on the strength of your
income, the quality of your commitments, type of your plan, and your financial
goals. The balance and wisdom are required elements in managing public expenditure.
5% of your total income will be allocated to your mind. To feed your mind
intellectually and culturally, especially in the financial field. Mature and
wealthy minds are the best to grow financially, attract opportunities, build
wealth, live freely, and be abundant and prosperous. Sometimes, you may need to
use services of a financial guide to help you organize your financial plan. You
may need to read specific magazines that are concerned with financial issues. Every
dollar you spend teaching yourself financially will help you get more in the
future. Be intelligence and do not forget the entertainment aspect. This aspect
is important to guarantee that you will not get out of your financial plan
backfired. Sometimes, we need to forget everything and just have fun. So, you
will give this aspect 10% of your total income. Try to spend all this in
leisure and entertainment which will give you more motivation and enthusiasm to
continue your new plan to the end. 5% of your total income will be for your
spiritual and emotions side. It must be spent happily for the sake of God.
You should consider the interest of society, humanity and life such as spending
on the poor, homeless people, or any other field of charitable work that you
believe in its importance. This will make you a great individual and will
give you a sense of satisfaction, peace, and happiness. All of this will make
the world a better place.
Section 2:
Ensure a successful financial future 25%
This section is
dedicated to 25% of total income. It is your basic plan to create a successful
financial future with minimal effort. Without this simple plan, you will
not be able to achieve real financial independence. It is the investment
force that most people do not know.15% of your total income will put into a
long-term savings account. You may face a sudden financial shocks. If this
happens, you can use these monies to help you at that moment. You can use it for
your continued financial growth as well. Balance is absolutely necessary. In
the future, you may use it to invest and generate new additional income. The
other 10% goes directly to investment. To ensure growth and renewal in your
wallet. You may also need to save it until you have invested in whatever area
you tend to.
This is a useful
financial plan that you could start with to move from chaos, lost, and
financial pressure to your financial stability. You just need to have a real
commitment. So that you can give its fruits in your reality and your financial
future. A thousand-mile walk starts with a step. Do not hesitate!
copyright © is reserved to Exceed Expectations blog
the image’s source: pixabay.com
Comments
Post a Comment