Friday, August 3, 2018

FINANCIAL PEACE




1 state lace up dress... (sold here)

Nina metallic caged sandals..(similar Here)

Coach whiplash tote.. (similar sold Here)

Versace sunglasses. ...(sold Here)





Happy Friday! I pray you are having a wonderful week. I wanted to share a system you can use to allocate your money as a way to create financial peace. This system consists of three types of accounts that will simplify your financial journey and put you into position to weather any financial crisis or storm.

1. Everyday life account. This is where your salary or business income is deposited and it is mainly used to pay for everyday bills and expenses. Any extra will go towards funding the other two accounts. If there is no extra or you seem to be coming up short then I would suggest creating a spending plan/budget that you can live by. In addition, you may have to create ways to earn additional income.  Either way, this account should be fully funded and sufficient to meet everyday life expenses.

2. Emergency account. I think depending on who you ask you may get different answers as to how much should be in an emergency account. Basically, it depends on your lifestyle. However, the goal is to have enough to cover those unexpected expenses without having to use a credit card or fall victim to the debt trap. I have mentioned before that credit cards are fine if you can pay them off right away without incurring interest. When you pay interest to lenders you are taking away from your opportunity to earn interest and investing towards your financial independence.

3. Future Savings account. The remainder goes into this account once the everyday life account and the emergency account is fully funded. Again, the beholder determines how it is used. Mainly, it is a stock pile account for all the extra cash. It can be used to fund future investments in shares, businesses, or any future goals you may have.

Remember, the journey may not be easy but financial peace will make it all worth it.  Most importantly,  God has given us the tools we need to have peace in all areas of our life.






Have a blessed weekend! Thank you for reading!

Tiff



4 comments:

  1. I love your accessories with this dress, the bag and shoes are so cool!

    Great advice too, especially the emergency fund one too. So important to have some savings to fall back on!


    Hope that you are having a nice start to your weekend :) It will be a quiet one here again, we caught another winter bug!

    Away From The Blue Blog

    ReplyDelete
    Replies
    1. I pray everyone is in good health! Yes, savings will reduce worry so you can direct your energy where it matters the most. Hope you had a wonderful weekend pretty lady!

      Delete