Saving money can seem like an impossible and daunting task however, it is mandatory to build a healthy household corporation. It is recommended that every household save anywhere from 10-30% of Cost of Living (COL) Income. Read previous post Setting Financial Goals, for more information on COL Income. Saving allows…
Wills & Testaments are an unpleasant but necessary part of family planning, maintaining your business, and building generational wealth. It is challenging to think about dying and how our loved ones will cope once we are gone. Have you ever seen or heard of a grieving family struggling to raise…
Tax time can be a frustrating experience. You work hard all year only to see that the difference between your gross pay and your take-home pay is larger than you would like it to be. As citizens and residents of the United States it is our communal responsibility to contribute…
Welcome to the new year! The holiday season has ended, and you are watching your friends and family love on one another enjoying their gifts. Like a good steward, you take time to gather your bills and start creating your 2021 budget only to notice that you spent more than…
Setting financial goals can be intimidating but it is necessary in maintaining a healthy household corporation. The first step to setting goals is to identify what projects or accomplishments you want to reach within 12 months or less. These are called “short-term” goals and will typically cost you less than…
The holiday season is right around the corner, and with it comes the temptation to indulge and overspend. Protect yourself from “Buyer’s Remorse” and financial setbacks by planning ahead. Have you ever bought something just because you saw it on sale and then later needed that money for something more…
When creating a well-managed household budget, it is important to have good financial records to identify all sources of income and expenses. A financial record is any document (physical or electronic) that reports the amount, the date, and the source of a specific transaction (an exchange of money, goods, or…
The purpose of creating a budget is to get a clear picture of how your income is spent and the frequency. Understanding this picture will help you make decisions that will minimize expenses and maximize income for a well-managed household budget. As the CEO of your household corporation it is…
What is a budget? A budget is the process of tracking your income and planning for how it is spent to pay for bills, save for emergencies, and invest in the future. It is important to know where your income is coming from and when it is available for use….
