Money comes from 2 things: you can make it or you can save it.
For example: if your goal is to make $5000 per month AFTER expenses, and your incoming is $10,000 but your outgoing is $7,000 your leftover is $3,000.
1. Find more money and keep your expenses the same
2. Cut your current expenses by $2,000 so your take home goes up
NOW FOR THE MATH! WHERE IS THE
MONEY GOING TO COME FROM IF YOU
NEED TO MAKE MORE?
Financial Health and Well-Being is one of the MOST stressful things in a person’s life, and if you have your own business, double down on that overwhelming anxiety.
Financial health isn’t about a number in your bank account nor is about the type of job you have. For example, how far would $30,000 a year stretch in Lansing, Michigan in a tiny house versus a 3,000 sf home in Austin, Texas? How much would you need to cover yourself if you lost income for four months? Have you looked and done a personal audit to determine what is a ‘want’ or ‘need’ on your credit card bill? Are there things you can cut out to save more?
The truth is that many live paycheck to paycheck and feel the pinch and complain they don’t make enough. And while that is a heated conversation on what people deserve to make and what is an appropriate amount to be paid, there is one truth: the less we spend, the more we save.