I often feel unassigned money can be dangerous if it is not designated in the right spots. Therefore, I want to share the buckets I use to help make sure my money is going in the right direction before I start spending on less important areas.
1) CASH ON HAND: I keep cash because technology can fail and I never want to be stuck without money. More importantly it is a tracking system for me to monitor how much I am spending.
2) EMERGENCY BUCKET: This is only touched for extreme emergencies. The great thing is because I keep cash on hand most of my emergencies are handled with cash.
3) BUFFER BUCKET : This bucket is so important because this is where a lot of my enjoyment comes from like vacations and major purchases. I call this buffer bucket because it blocks me from tapping into my freedom bucket.
4) FREEDOM BUCKET: Under no circumstances is this bucket touched except for full retirement when I'm traveling the seas:)
This is definitely not the only way to achieve your financial security. Therefore this can be used as a blueprint or guide to help you create your own personal money philosophy and financial security. Thank you so much for stopping by and as always I appreciate your support.
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