6 Steps to Building a Better Budget

We know you’re not an expert in finance, but that doesn’t mean you can’t build a legacy utilizing the same savvy moves the wealthy elite have been using for centuries to maintain and retain their wealth. Discover which budget planning tips you should leverage with infinite banking to build a lasting legacy.

Budget Planning Tips for Savvy Savers in 2018

While most people worry about shrinking their waistlines at the beginning of the new year, the beginning of a new fiscal year means another opportunity to shrink your debt while increasing your wealth. By allowing the infinite banking concept to inform your budgeting and saving decisions, you can start taking control of your finances away from the big banks and corporations that are literally stealing thousands of dollars from you each year.

How to decide what priorities to put in your budget

Living within your means is more than just a run of the mill budget planning tip; it’s crucial financial wisdom that you will need to employ as your build your own financial legacy. Understand that the goal of working with a financial advisor or a budget planner is not to track every single penny you or your spouse and children spend.

The true goal of a budget is to maintain control over your money by exerting control in how it is spent. By prioritizing your finances through a budget, you can start to focus your spending on what matters most to you instead of feeling like you’re constantly running out of funds.

6 tips to help you build your budget

  1. Track your spending for a short period of time to give you an in-depth perspective on how much money you’re losing without realizing it.
  2. Categorize your spending so you can review the data and see where you’re overspending and where you aren’t spending (or saving) enough.
  3. Evaluate your state of credit card debt to determine how much you’re losing in interest fees each year.
  4. Prioritize savings and ensure that you have an emergency fund big enough to pay for at least three months of living and working expenses.
  5. Make a schedule for paying your debts and expenses off that works for your calendar and stick to it!
  6. Work with a financial planner you trust to help you navigate the ins and outs of building a budget that works for your long-term financial goals.

Get the Tools You Need to Build A Better Budget with Alpha Omega Wealth

At Alpha Omega Wealth our financial advisors in Las Vegas, California, and Washington have almost 200 years of financial and budgeting experience. Get the budget planning tips you need with our team of Infinite Banking practitioners today.

 

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