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• Debt-Free Living, Personal Finance • Business Owners • Authors/Writers/Content Creators • Mental Health Professionals, Health Care Professionals The Janine Bolon Show is a variety program focusing on saving you, the listener; money, time, knowledge and sanity as you move through your daily life. Janine brings well-known financial and business authors to the program to discuss their knowledge with you along with mental health professionals to assist you with time saving techniques and tips for managing the life you are currently living. With 30 years of debt-free living experience, Janine shares with you her network of highly trained professionals in finance, business, authorship and mental health services.
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Friday Feb 12, 2021
Friday Feb 12, 2021
You allocate your money in this way using the 60/40 principle:
60% you live on. This goes into your main checking account
10% goes into a long-term saving vehicle (IRA, 401k, Keogh account, solo401k) for retirement. If you don't currently have a retirement account of any kind, open two savings accounts at your bank (one for long-term savings and one for short-term savings)
10% goes into a short-term savings account for use in those occasional large-scale expenses (such as new tires) or emergencies (the hot water heater leaks all over your newly laid carpet!)
10% is tithed to a church or secular charity that is in line with your purpose and passion. this is your "rent" for occupying space on the planet.
10% is pure philanthropy. That's right, you just give it away for the benefit of the community at large. This primes the pump so that the Universe starts sending more money your way.
Once you've retired your debts, you start applying the 60/40 principle to all of your income.
Questions? Take my free online course 10 Steps to Abundance https://app.ruzuku.com/courses/26243/... or
Connect with me on LinkedIn https://www.linkedin.com/in/janinebolon/
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