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Tip #2 Set a Budget and Stick to It

Young black couple paying bills at home

Source: Susan Chiang / Getty

First, set a budget and stick to it.  Knowing your “WHY” will aid in solidifying your “WHAT” tremendously. I’ve included a three minute forty seconds video by Comedian Michael Jr. at the end of this tip.  Listen intently as this video will help drive the point home.  For example:  Suppose your goal is to save $5,000.00 a year.  That would translate to saving (a) $416.67 a month or (b) $104.17 a week or even better (c) $26.05 a day.  Another way to save $5000 would be to pay or budget for yourself $2.40 an hour for an 8 hour workday which is $96.00 a week or $416.67 a month. You are  worth this amount and so much more.

Second, write down your budget.   Writing the budget down is equivalent to writing your prayer on paper. Prayer is one the most powerful tools we all have and for far too many of us it’s the least used.

Finally, seek out a financial mentor.  You will greatly benefit from someone who can keep you fiscally fit, on track and one whom celebrates with you your Financial success.   If you don’t have a financial mentor call one today and schedule a complimentary consultation.

Know your WHY !!

Ellis Liddell–President and CEO of ELE Wealth Management 
248-356-6555

Securities offered through ELE Wealth Advisors, member FINRA.  Advisory services offered through ELE Advisory Services, LLC.  ELE Wealth Advisors  and ELE Advisory Services, LLC are affiliated through common ownership and control. 
ICYMI: 
Ellis Liddell: 52 tips for building wealth in 2017: Tip 1
Empowerment Speaker: Ellis Liddell

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