Life & Budget Planning

Life Budget

Putting Balance Back In Your Life

Home

• Income comes into our home from various sources.

• This is managed by a Budget to pay the bills.

• House payment / rent• Vehicle payment & expenses• Food/groceries• Telephone• Rates• Insurance

BudgetsPeople should be more respectful of their cash.

To plan your budgets – refer to the budget planner. This planner needs to be completed on a daily basis as we tend to forget our expenses to easily.

One way I complete my planner is to ask for a receipt ever time I spend money. This helps to make me aware of unnecessary expenditure.

These receipts also could be beneficial for taxation purposes.

For planning, the yearly expenses can be converted to daily cost by dividing the cost by 365.

Budget FormMon Tues Wed Thurs Fri Sat Sun Mon Tues Wed Thurs Fri Sat Sun

Food/Groceries

Clothing

Daily Living

Mortgage/Rent

Rates

Electricity/Gas

Telephone

Home Repairs

H/C Insurance

Life Insurance

Vehicle Insurance

Vehicle Repayment

Vehicle Registration

Petrol/Public Transport

Personal Loans

Education/Child Care

Medical Cover

Holidays

Others

Weekly Total

Weekly Income

Surplus/Deficit

Debt Primary goal in life is to get rid of the Negative Debt

Positive Debt

Tax Benefits

– Investment Property– Business vehicle

payment– Business phone

Negative Debt

No Tax Benefits

– House payment– Vehicle payment– Personal Loans

Investments

One of our goals now,

is to create 10 buckets

outside the investment block and each of the buckets roll

is to produce an

income stream for

you.

Investment Buckets to generate you money.

1. JOB – Just over broke

2. Super – not guaranteed

3. Investment Property

4. Vending Machine

5. Laundromat

6. Shares

7. Home Business

8. ???????

9. ?????????

10. ?????????????

This really is your choice as you have to find your passion.

Lifestyle

• When each bucket is generating you income stream you are not relying on one income stream such as the JOB which if fails we intend to lose everything.

• If each bucket is generating you an income of $1,000 per week and you have 10 buckets that is $10,000 per week.

• If one of the buckets fails you income would be reduced to $9,000.00 per week.

Lifestyle

• Lifestyle is what we are all here for.

• Piece of mind

• Freedom

No Style Lifestyle

• Unfortunately most people bypass the investment block and have the income come into their home and go into debt to buy the fancy car, the best home in the street to try and maintain a lifestyle.

• This is called the NO STYLE LIFESTYLE.

Income

Home Budget

DebtNegative Debt

No Tax Benefits

Positive Debt

Tax Benefits

Investments

To many people go from Income to Lifestyle direct creating

NO-STYLE LIFESTYLE

JOB

Just Over Broke

SUPER

Investment Property Vending

Machine Laundromat SharesHome

Business

Passive Income

LifestylesBoat

Holiday

Luxury Car