Billy from Biloxi and Two More Wealth-Building Systems! (Part 2)
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Last week, our post covered Billy from Biloxi’s challenge to our Budget and Grow Rich® moneysaving and wealth-building approach.
Billy in particular, questioned Why we regularly feature step-by-step, how-to moneysaving roadmaps and wealth-building roadmaps. One. Two. Three and so on.
In Part 1, we shed some light on Billy from Biloxi – his complaint about our moneysaving systems and wealth-building systems.
We explained our rationale. To take a read, click here.
Hmmm. In Part 1, we also said we’d share two more wealth-building systems ‘next week’. But if we want to be exacting, the time span was really two weeks. Anyway. . .
We revealed the secrets to how you can save bank on groceries using my – Arthur V’s – Grocery Shopping Savings System and how to make it work for you! Click here.
The point IS that systems are really tools that help You achieve your goals. Systems take the guesswork out of what to do, a process. In this particular case, saving money on groceries.
While we were at it, we shared the link for Arthur V’s Grocery Shopping List. To grab the grocery shopping list, click here.
I use that very grocery shopping list and the related process to save money on groceries Every Week.
Like clockwork! And. . .
You can too.
As promised in Part 1, today we’ll share two more Moneysaving Systems and Wealth-building Systems to help you save more money and build more wealth.
Let’s get to it!
If you’ve followed Budget and Grow Rich® for any period of time, you know that I Love checklists.
Moneysaving and Wealth-Building System #1:
The [Dreaded] Personal Budget, which many people call a ‘Financial Straightjacket’.
Over the years, I have spoken with Many people about building wealth and saving money.
Often I will recommend that people turn to personal budgeting as a way to organize their spending, control their cash flow and create money to direct towards their investment portfolio. This creates wealth!
Many of the people respond, “I can’t make a personal budget because that would restrict my spending. And that’s not fun. Life is to be enjoyed!”
Frankly, I can’t blame any of them. And I agree that we have to enjoy life.
But at the same time, the question is, “What’s important and what are your goals and objectives?”
My goal too is to live a balanced life. . . to enjoy life every day And at the same time, accumulate enough money to live a comfortable retirement. So I don’t have to worry.
Or at least I won’t have to worry all that much.
My Dad passed away just shy of his 93rd birthday. My Mom unfortunately passed away at 76.
My step grandmother Franma died at 104½.
What’s more. . .
My three children, Alice, Rita and Mike V., whom I Love with All My Heart, work in not-for-profit and they’re doing great things to save the world! Lord knows we need saving! And. . .
Each makes a nice living. . .BUT. . .
Realistically, unless something drastically changes or they win the Lottery, none of my children will be in a position to support me in my old age.
Which I am Totally Okay with.
BUT that means that I have to balance enjoying life today and saving money for tomorrow, to fund my living expenses in retirement.
In effect, we have to rely on ourselves.
I Know that’s a mouthful And my high school English teacher would slam me for the run on sentence, but let’s review this once more. . .
I AM Responsible for accumulating wealth – or money – to fund my retirement living expenses.
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Looking to build lifetime wealth, gain peace of mind and retire comfortably and worry-free?
The Time-Tested Roadmap is to create your personal wealth-building plan.
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Moneysaving and Wealth-Building System #2:
Automatic Payroll Deductions – Contributions into your 401k or 403b Retirement Plan or another retirement plan, savings account or investment account.
Which help you build wealth to fund your living expenses during your retirement – your retirement living expenses.
By enrolling in a retirement plan, savings plan or another investment plan, you’re on your way to saving money and building wealth. And build wealth every pay period.
And by selecting an amount to contribute to your retirement plan or investment plan AND activating payroll deductions, you’ll start building wealth.
And to multiply your wealth, be sure to contribute at least enough money during the year to capture 100% of the employer match. The employer match can double your money, or at least double a portion of it, every year.
Of course, once you start making the contributions, your take-home pay will be lower.
And that means it’s important to plan or control your spending so you cover your expenses and avoid credit card debt.
And that goes back to our good old favorite, the time-tested personal budget.
Again, Systems can Help You Achieve Your Financial Goals.
And Help You Save Money and Build Wealth.
To Live the Life You Desire!
If you want to save more money and build more wealth, Create Systems!
These three systems work for me. They can work for You!
If you’re serious about achieving your financial goals, saving money and building wealth – and You Should Be Very Serious about this – Start with Making a Financial Plan and Creating Systems! AND. . .
Implement the systems and make them part of your routine.
Hands down!
See You On Easy Street!
Arthur VanDam, CPA MBA
Build More Wealth Right Now Click here.
Budget and Grow Rich® – ISSN: 2992-9296 – USA International Standard Serial Number (ISSN)
Disclaimer: OH and Please Remember, we are Not financial advisors, financial planners, attorneys or accountants and are Not providing any specific financial, tax, accounting or legal advice here. Be sure to conduct your own due diligence and consult your own professional advisors to get sound professional advice that’s specific to your financial and personal circumstances, risk tolerance, time horizon and investment goals and objectives among other key factors!
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Budget and Grow Rich® is the original e-book guide to easy budgeting and wealth-building. Gain financial freedom and pour money into your pockets today and for years to come.
Finally, the proven roadmap to building wealth – how to make a personal budget that really works. Explained in plain English – easy to follow, practical steps. Since 1974, personal finance expert and author Arthur VanDam has used this system to organize his finances, manage his money and amass wealth. Now you can too. This straightforward guide tells all! Handy spending plan worksheet includes 14 categories that does it all. Practical tips and ways on how to create a financial plan and put your financial plan on auto pilot. Budgeting At Your Finger Tips will help You save more money, build more wealth, gain peace of mind and enjoy financial freedom.
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