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My Money Design

Designing Financial Freedom

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Roth IRA

How to Budget – Step 2 – Income Vs Expense

January 11, 2012 by MMD Leave a Comment
Some of the links included in this article are from our advertisers. Please read our Disclosure for more info.

Budget, budgeting, money, money management, saving, expenses, income, Roth IRA, 401k, 401(k), 529, Mint.com

Take that list of your major expenses you created in Step 1 and list them for one month. Create one column and put your rows of expenses near the bottom half of the page. Income Now let’s go up to the top of the column. This is where we will list your income for the month. For most of us, that will simply be your paychecks and your spouse’s paychecks. Congratulations if you have other significant forms of income. Some examples might be: … [Read more...] about How to Budget – Step 2 – Income Vs Expense

How to Budget – Step 1 – Where Does All My Money Go?

January 10, 2012 by MMD Leave a Comment
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Budget, budgeting, money, money management, saving, expenses, income, Roth IRA, 401k, 401(k), 529, Mint.com

THIS IS NOT going to be one of those “how-to” examples where you’re told to record ever purchase you’ve ever made. Doing that accomplishes NOTHING but wasting a lot of time. Besides, Mint.com can already do this for you automatically. I’ll have more on that later in this series. Instead, look back through your checkbook from the past few months. What were your MAJOR expenses? Make a list of them. I highly recommend using Microsoft Excel if possible. And yes, there will be a link to the template we create throughout this series at the end. Here are a few examples: … [Read more...] about How to Budget – Step 1 – Where Does All My Money Go?

How to Budget My Money – Introduction

January 9, 2012 by MMD 3 Comments
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Budget, budgeting, money, money management, saving, expenses, income, Roth IRA, 401k, 401(k), 529, Mint.com

Creating a budget is one of the single best financial actions you can take for your household. Once you have your goals and priorities straight, the next step is to learn how to manage your money. Setting a budget is something that has to be done even before you learn how to invest your money. Why? Because all the income in the world won’t make you any richer as long as you’re spending more than you take in. … [Read more...] about How to Budget My Money – Introduction

My “Money Design” – 2012 Update

December 31, 2011 by MMD 1 Comment
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MyMoneyDesign.com, financial checkup, Money Design, financial freedom, automated income, employment income, retirement, pension, 72T, Roth IRA, 401(k), 403(b), Social Security, FICA taxes, annualized return, Passive Income, Rich Dad Poor Dad, Robert Kiyosaki, Monte Carlo analysis, Personal Savings, Annuities, Life Insurance

As part of my annual financial checkup, I have updated my “Money Design” for financial freedom. This is my plan to one day automate my income rather than rely solely on employment income. My plan can be summarized by the flow chart below: … [Read more...] about My “Money Design” – 2012 Update

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