Budgeting Your Money
- Ludy Fig
- Feb 23
- 1 min read
Live below your means if your going to be rich you need to expand your means
A budget is a plan for the future coordination of results and expenditures
A budget deficit is excess of spending income the word excess signifies spending more than you can make.
The second type of budget is a budget surplus.
This is an excess of income over spending
if you want to be rich choose a budget surplus and create one by increasing income not reducing expenses
To do this you have to make saving, tithing and investing number 1 or 2 on your list and list them as expense on your financial statement. Itseasier said than done.
Assets=Luxury Liabilities
Budgeting is a important process so take it one day at a time
Its really about being resourceful and solving problems
Bad debt = Liability
This is measured in percentages the percentage of income that reaches your asset column.
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