3,2,1 Post - Money

 This is a 3,2,1 post. 

3 amazing things to know. 

2 tips or ideas to implement today 

1 quote to think about 

Three amazing things to know... 

1. Two-thirds of all US$100 bills are held outside the US
2. Martha Washington donated her own silverware to make the first U.S currency
3. Abraham Lincoln was the first American to be pictured on an American coin in 1909

Tip 1 - Automate your savings. Set up a seperate bank account to funnel a percentage or specific dollar amount into the account then build you weekly/monthly budgets based on the income received without the savings. For example if you make $2000 a month and want to save 20% of your income pretend you only make $1800 a month, then use that dollar amount to craft your spending budget. This principle is simple, out of sight, out of mind. 

Tip 2 - Have a written budget. It is not enough to know where your money is going but to write down this plan each month, ahead of the start of each month. Once you have a plan for your money you can then begin to assign every dollar to a task. I use Every Dollar - this is Dave Ramsey's platform - to track all my incoming and outgoing dollars. Every month before the month starts I assign every projected incoming dollar a role - paying the mortgage, buying groceries, etc - then I have a solid plan of how much I am earning and where it is all going. This removes the thought process on what bills to pay and when and how much I spend on discretionary items. 

“That man is richest whose pleasures are cheapest.”  - Henry David Thoreau