Jun 9 • Budget
Personal Budget reminder
get your budget on point so your short term money is under control.
Emergency fund first $500-$1000 for unexpected expenses. (you choose the time frame to build this amount up based on your situation)
All essential expenses for the month must be taken out and put into your "bills" account so we are not using money for bills for wants.
Also if your short term money is not in order yet or you struggle to make ends meet, you are not ready to invest. In my experience you will be too tempted to take out the money in your investments to either cover short term expenses or will be "scared" out of your position with a temporary downtrend in price.
Do not use money that you need now for investing you probably won't leave it to grow.
if your investing time frame is 5 years or 50 years DO NOT use money that you need over those time frames. That is LONG-TERM money not to be used in the short term
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Personal Budget reminder
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