From Black Wealth Renaissance (@BWR_Movement)
"It's not your salary that makes you rich. It's your spending habits."
~Charles A. Jaffe
It's actually pretty easy to make money in the richest continents the world has ever known; but if you don't know how to manage your money; if you don't know what's coming in and what's going out you're setting yourself up for financial failure. Check out these 8 signs you're good with money to see if you're on the right track to secure the bag.
You Have a Steady Flow of Income - This is step one for a reason. Most people have to have some type of in-flow of income to even HAVE money in the first place. One stream of income, maybe 2, maybe more. Always secure the bag.
You Know How to Spend - Budgeting is essential! Always keep track of where your money is going.
You Can Pay Your Bills Every Month - The biggest expenditure that most people have is bills. Phone bills, car bills, rent, utilities, etc. Make sure you always budget your bills.
You Can Buy Things You Want - If after knocking out your needs FIRST, you still have money to afford the things you want, you just might be good with money!
You Are Saving Money - This is VERY important. It takes control & discipline to save money. Please don't spend all your money!
You're Planning Ahead For A Major Purchase - Using budgeting and saving, coupled with goal-setting takes discipline. If you're juggling all of that AND achieving your financial goals, then it's a good sign that you're good with money!
You Have An Emergency Fund - You never know what could happen so it's always best to stay ready so you ain't gotta GET ready! Emergency funds provide a support net if anything unexpected happens that might impact your finances - say for example, a world pandemic
You Invest To Make More Money - Invest! Allow your money to make you MORE money! A Key component in trying to increase wealth.
Follow Black Wealth Renaissance (@BWR_Movement) on Twitter to learn more on how to not only secure your bag, but secure the bag for generations to come!