For the first time in my life, I have an investment portfolio and am focusing my attention on growing this portfolio.
Getting to this point has been a journey of emotional ups and downs.
One of the emotions I struggled with for years was frustration and anger about money and not having enough money to buy food, let alone save or invest.
Learning how to budget and plan my finances was one of the ways I saved money. Even now, a budget helps me see where my money is going and to keep track of all my finances.
So in this week's #WealthyMoneyTv episode, I sat down with Chenine, my financial advisor, to ask her some questions on budgeting:
1. 00:42: How can you deal with the frustration of not having enough money to invest?
2. 2:02: How can people start budgeting especially if you have a fear of budgets?
3. 3:50: How to budget using the envelope system
4. 4:30: How to budget if you have a small business
Click on the video below to learn more:
My budgeting tips
i. Save 10% for retirement
ii. Invest an extra 10% for future projects and dreams if you can
iii. Put away 10% for fun for the month
iv. Use the envelope system and use cash as much as possible
What are you budgeting tips?
How has a budget helped you sort out your finances?
Let me know in the comments section below.