My preferred money management system has to be just the simple "Pay-Yourself-First" method. When the paycheck comes in, the savings and retirement accounts have to receive their share immediately before any expenses get touched.
It’s tough to save money with kids, school, and other big expenses, but a system, that has worked well for me is (if paid biweekly) is to put one paycheck all in savings and the other check for bills, groceries, and other expenses. Anything left over can be put in savings or used as fun money (usually for ammo or extra holsters).
I automate savings and increase savings rate 1% per year. Thanks for sharing your financial tips to try to educate more people. Love your holsters, I got lucky and bought your certum for my first hostler and never had to buy another
Thanks Jeff, currently running in a similar vein with the financials. It’s always a challenge. I try to look at this way: the people who created “money” want to keep that money, but by nature everyone one has “access” to it. Thus, How do we create avenues to access said money and the have it working for ourselves, family, etc. good video man.
Not a business owner or anything at the moment but how I manage my finances is through looking out for retirement. High yield savings account, Roth IRA and 401k with my employers matching contribution has given me some confidence in my financial future.
Owned a small business for 40 years.Every penny not wasted is profit..How many holster sales or whatever do you need profit off of to make up for waste? always enjoy your videos
I use a Zero-based budgeting system for myself, just got out of college, and trying to save up and pay off student debt isn't the easiest, but it's doable and definitely takes determination.
We are using the Dave Ramsey program now for a budgeting tool, and I'm happy with it. However, when time allows, I'd like to explore other options. Using quicken for bookkeeping for the business.
@tenicorusa my wife and I went from "it just seems like we should have more money than this" to having the option to live for 3 months with no income. When every cent gets earmarked for something, it becomes extremely easy to save money. It takes commitment to set aside the time, at first, to track everything.
My wife and I use Dave Ramsey’s system (for the most part) of money management. Try to pay cash for everything and don’t buy it unless we have the money in the bank. Sometimes, we deviate from the plan, but largely we’re able to stick to it.
My money management system is an Excel spreadsheet I've developed over years, first budgeting for just myself, now for my entire family. Always aiming to maximize money going into tax-advantaged accounts. Entertainment comes out of money left over, not off the top.
My family and I try and do several different things depending on our financial situation at the time. I’ve come to realize that different seasons of life you have to adjust. So our normal way is to take a percentage out of every paycheck (automatically) and move it into a savings account. That way the opportunity to spend or use it for something meaningless or unnecessary is gone. It always is automatic so it kinda feels like it’s a decision taken away that makes it easier. That is used for emergencies, savings etc. beyond that we pay our bills and use excel to keep our finances in order. With everything being online it’s REALLY easy to have subscriptions or pay more for something that you need to. So sharing excel or something to keep track makes it easier. I am imperfect and struggle to make the best decisions daily. So I really love this mindset and make decisions more like this. Love the info
My money management is to pay off all credit card bills in full every month on time. Have 6 months of emergency fund saved up in case SHTF. And live a simple life.
My preferred money management system has to be just the simple "Pay-Yourself-First" method. When the paycheck comes in, the savings and retirement accounts have to receive their share immediately before any expenses get touched.
Love it. That's basically the personal finance version of Profit First 🤙
It’s tough to save money with kids, school, and other big expenses, but a system, that has worked well for me is (if paid biweekly) is to put one paycheck all in savings and the other check for bills, groceries, and other expenses. Anything left over can be put in savings or used as fun money (usually for ammo or extra holsters).
Solid plan. And a 50% savings rate is legit!
I automate savings and increase savings rate 1% per year. Thanks for sharing your financial tips to try to educate more people. Love your holsters, I got lucky and bought your certum for my first hostler and never had to buy another
Thanks for the support 🤙
Thanks Jeff, currently running in a similar vein with the financials. It’s always a challenge. I try to look at this way: the people who created “money” want to keep that money, but by nature everyone one has “access” to it. Thus, How do we create avenues to access said money and the have it working for ourselves, family, etc. good video man.
Thanks for the support. It's definitely a process 🤙
Not a business owner or anything at the moment but how I manage my finances is through looking out for retirement. High yield savings account, Roth IRA and 401k with my employers matching contribution has given me some confidence in my financial future.
Playing the long game is the way 👍
Owned a small business for 40 years.Every penny not wasted is profit..How many holster sales or whatever do you need profit off of to make up for waste? always enjoy your videos
Fighting waste is a constant challenge! We're big fans of The Toyota Way (book) and Toyota principals in general.
I use a Zero-based budgeting system for myself, just got out of college, and trying to save up and pay off student debt isn't the easiest, but it's doable and definitely takes determination.
Keep it up!
We try to stick with Dave Ramsey, pay off debt. But it's not easy lol
Not easy, but worth it. Keep it up!🤙
We are using the Dave Ramsey program now for a budgeting tool, and I'm happy with it. However, when time allows, I'd like to explore other options. Using quicken for bookkeeping for the business.
Dave Ramsey's stuff is solid. We're about to run through one of his books with the team 🤙
@tenicorusa my wife and I went from "it just seems like we should have more money than this" to having the option to live for 3 months with no income. When every cent gets earmarked for something, it becomes extremely easy to save money. It takes commitment to set aside the time, at first, to track everything.
We use Excel and Mint to manage our funds.
Solid tools 🤙
We are in the process of implementing Profit First.
Love it
Great info and as a newer small business i will look this up.
It's definitely worth the time!
My wife and I use Dave Ramsey’s system (for the most part) of money management. Try to pay cash for everything and don’t buy it unless we have the money in the bank. Sometimes, we deviate from the plan, but largely we’re able to stick to it.
Super solid approach 🤙
My money management system is an Excel spreadsheet I've developed over years, first budgeting for just myself, now for my entire family.
Always aiming to maximize money going into tax-advantaged accounts. Entertainment comes out of money left over, not off the top.
Smart move on entertainment out of the left over!
My family and I try and do several different things depending on our financial situation at the time. I’ve come to realize that different seasons of life you have to adjust. So our normal way is to take a percentage out of every paycheck (automatically) and move it into a savings account. That way the opportunity to spend or use it for something meaningless or unnecessary is gone. It always is automatic so it kinda feels like it’s a decision taken away that makes it easier. That is used for emergencies, savings etc. beyond that we pay our bills and use excel to keep our finances in order. With everything being online it’s REALLY easy to have subscriptions or pay more for something that you need to. So sharing excel or something to keep track makes it easier. I am imperfect and struggle to make the best decisions daily. So I really love this mindset and make decisions more like this. Love the info
100%. Automation is so important 🤙
I automated savings and retirement contributions, following a “pay yourself first” strategy.
Automation is key.
My money management is to pay off all credit card bills in full every month on time. Have 6 months of emergency fund saved up in case SHTF. And live a simple life.
Solid Dave Ramsey-style principals. I like it.
I hid my fat stacks in lab coat, you almost had it Jeff
Need to start looking for checks everywhere