Do THIS Every Time You Get Paid (Paycheck Routine)
from Building Your Money Machine Hosted by Mel H Abraham, CPA, CVA, ASA
Are you ready to take control of your financial future and maximize your paycheck with smart money management? In this episode, I delve into the critical steps you need to take when you receive your paycheck. I guide you through creating a cash resource plan, understanding your needs, wants, and deletes, and share strategies to manage your money effectively. From setting up a comfort fund to automating your investment contributions, I'll equip you with the tools to make the most of every dollar you earn. If you're ready to accelerate your path to financial freedom and build your money machine, don't miss this episode! IN TODAY’S EPISODE, I DISCUSS: - Creating a cash resource plan to allocate every dollar a job description - Understanding your needs, wants, and deletes to manage your financial flow effectively - The wealth priority ladder and how to automate your investment contributions RECOMMENDED EPISODES FOR YOU If you liked this episode, you'll love these ones: My Greatest Money Lesson Came from a 6-Year Old Should I Rent or Buy a Home What to Do If You Think You’re Gonna Get Laid Off Getting Your Partner on the Same Money Page RECOMMENDED VIDEOS FOR YOU If you liked this video, you'll love these ones: My Greatest Money Lesson Came from a 6-Year Old: https://youtu.be/BV1_GM9Ku_M Should I Rent or Buy a Home: https://youtu.be/Dy7NyPqrCHE What to Do If You Think You’re Gonna Get Laid Off: https://youtu.be/QYOW2nUbDr8 Getting Your Partner on the Same Money Page: https://youtu.be/BaAW-JswkXQ TAKE THE FINANCIAL FREEDOM QUIZ: Take this free quiz to see where you are on the path to financial freedom and what your next steps are to move you to a new financial destiny at http://www.YourFinancialFreedomQuiz.com OTHER RESOURCES: 7-Day Money Plan Workshop: https://www.TheMoneyPlanWorkshop.com Affluent Entrepreneurs Private Facebook Group https://www.melabraham.com/group/ CONNECT WITH ME: Website: MelAbraham.com YouTube: MelAbraham.com/tube Instagram (@melabraham9): MelAbraham.com/ig Facebook Group: MelAbraham.com/group/ TikTok: https://www.tiktok.com/@melhabraham GET MY BOOK: “The Entrepreneur's Solution The Modern Millionaire's Path to More Profit, Fans, & Freedom” –
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What this episode covers
Are you ready to take control of your financial future and maximize your paycheck with smart money management? In this episode, I delve into the critical steps you need to take when you receive your paycheck. I guide you through creating a cash resource plan, understanding your needs, wants, and deletes, and share strategies to manage your money effectively. From setting up a comfort fund to automating your investment contributions, I'll equip you with the tools to make the most of every doll...
Chapters
- 0:00 Plan your spending ahead to avoid guilt.
- 6:18 Transfer percentage of income to necessary accounts.
- 8:33 Help build the mountain, achieve financial freedom.
- 10:43 Financial emergency fund should be longer term.
- 13:22 Productive debt increases value, destructive debt doesn't.
- 17:07 Prioritize the company's match, then review finances.
- 19:50 Set up automatic transfers for financial safety.
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