The importance of financial education: Organizing your finances to gain the clarity you'll need to maneuver in surviving, thriving, & succeeding in our financial world & to build up our economy. Check out the Automatic Millionaire audiobook by financial expert David Bach below. This is the same exact formula in "The Millionaire Next Door," how the majority of America's millionaires became rich overtime.
Use the example & apply it to your real life expenses.
This person is a single working adult that makes $2,000/ month. Calculate 10% of your monthly income for fun money expenses & 8% for savings.
Car Ins: $200
Student Loans: $100
Credit Card: $200
Money Cushion (or what’s left over) $2000-$1742=$258. In 6 months it will add up to be $1,548 and can easily be used as an emergency fund.
You can change the percentages slightly to better cater to your financial needs.
Check out our Plan B for living wages too, room mating. Our goal is to give everyone a fair chance at knowing what else we can do to cope with poverty our generations will have to endure, while effectively striving for livable wages. Remember you can email us at AlabamaSolutionsGM@gmail.com to schedule a coffee meeting to help organize your finances with a financially efficient Alabama Solutions member. It's complimentary & takes only 10 mins of your time and can be used for a lifetime.
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Problem Solve > Invest > Restore
Cortney Sloan Owner of North Alabama's Eco Business, Panacea: Feng Shui & Medical Massage.