Build Your Sure Financial Foundation

 Have a PLAN!  Every Successful Plan that Worked looks Something Like This…

No confusion.  No excuses. 

Slow Down… Think it through… 

Become more Content, more Peaceful…
Be Excited and Disciplined while you build your Foundation. 

 
January – 

STOP the BLEEDING expenses for 30 days
Budget – write down EVERY expense, every day – big and small

Become financially conscious 

Aim to cut your habitual spending in half by 15^th January 

Decide to keep up wiser spending until it becomes your new habit 

Learn to Live Lean!

Eat simply at home, Cut your leaking expenses 

No entertainment that costs money for this month
Learn to Live on Less than you thought possible. Think. Decide. Do
 
February, March - 

Earn more money than you thought possible
Continue keeping your budget – know where every cent is going  

Work Hard! Continue to Live Lean!
Work as many hours as you can
Stack income – Build your Emergency Fund of easily accessible money
 
April, May, June – 

Build to R10,000 in a Ready Cash Emergency Fund
Continue to Budget!  Continue to Work Hard! Continue to Live Lean!
Stop feeling Magical, Invincible, in Denial, Desperate.  Stand Tall  

Be increasingly aware of your potential
 
July, August – 

Invest Wisely and Thoughtfully in Your Earning Capacity
Continue to Budget!  Continue to Work Hard! Continue to Live Lean!
Take a course, learn a skill - increase your earning capacity
Acquire one tool, or equipment, that will help you earn more money
Network wisely with people who might be able to connect you with opportunities
Be a good person.  Know good people.  

Cultivate and treasure these mutually beneficial relationships
Increase your daily and hourly value
 
September, October – 

Build Some Passive Income
Continue to Budget!  Continue to Work Hard!  Continue to Live Lean!
Invest in an income producing asset – maybe something you can hire out, or a small property?
Concentrate on Tried and Tested, Boring, and Reliable, before grand schemes
 
November – 

The Discipline Test – You’re approaching the Finish of what you Started in January…
Continue to Budget! Continue to Work Hard! Continue to Live Lean!
Spend NOTHING extra – no holiday spending this year – Think!  

Be creative!  Ask others for ideas
Prepare and give gifts that cost no extra money – share yourself, your time, your talent
Review these last 10 months – What worked?  What didn’t work?
 
December – 

Plan for Next Year
You are keeping a Weekly/Monthly Budget 

You know where your money is going, the money bleeding is stopped
Your extended family, spouse and children are watching you and learning from you  

True friends are watching and learning too
You now have a starting Emergency Fund of ready cash
You have added income.  You have added skills, equipment and tools
Continue to Work Hard!  

Set a slightly less Lean Living monthly budget (your spend can gradually grow!)
Set a new Personal Income Goal. 

Set an income producing Pleasure and Leisure Savings Target
What is another Passive Income Investment you can make – that you want to?  

Find one. Continue to Wisely Invest
 
What will your life look like in 5/10/50 years if you keep up this disciplined planning and spending?
Commit to it!  Stand Tall - Every Day, every month for another year... and then another

Based on information shared by Charlie Munger - edited by Judy Bray