Financial Pillar

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There are 3 parts to your financial Pillar.

• Income or money brought in
• Spending or money going out
• Investments- money meant to earn  money

There are countless ways to bring in money. Most adults spend much of their waking hours earning money, thinking about how they earn money , how to win money or looking for it in their couch cushions. Well, you are going to do a deep dive into this, in a purposeful way.

• Do you like how you make money?  
• What would you rather do?
• Do you feel like you make enough money? 
• What is enough?
• Have you ever felt like you make enough money?

In your Financial Pillars notes you will work on answering these questions. You will need to consider these things deeply and in a new way.  If you don't like what you do to make money. Make a list of things you may like so you can start to investigate. There are likely new ways of making an income that you haven't yet considered. 

If you have been in the same industry for a while there can be many opportunities to work from home, which can help you manage your time and maintain your Pillars better. Even if you have been working as a plumber an accountant or for a daycare.

Investments are another way to bring in more money. There can be risk involved with most financial investments.  

Some traditional investments are:

• stocks
• etfs
• mutual funds
• certificate of deposits
• commodities
• derivatives
• cryptocurrencies
• retirement investments
• and much more

These are often thought of as being a little more of a passive way to earn money. It will be very passive if you have an expert manage your money for you. Although, it is highly recommended that you learn about where your money is going and monitor it regularly.

If you would prefer to have real physical item to invest in, instead of mostly online banking type investments there are a lot of choices for you, as well. Many of which can be tailored to your interests. Things like precious metals, jewelry, real estate and so on.   Each will have its own pluses and minuses.

There are so many cool possibilities for investing that you will want to add this to your Education Pillar

Saving is different from investing in that there is typically a lot less risk and very little, if any, money made. A basic savings account at your bank is an obvious example of this. You can also just keep a bunch of cash in a safe at your home, this comes with a potentially dangerous draw back, someone may plan to take it from you.

Choosing the best way for you to save money will be something to figure out, what you are saving it for is usually a lot easier. here are some examples of reasons to save your money.

• emergencies
• an item you expect to buy within a year
• college
• vacation
• Whatever would be important to you

Spending is simply where your money goes once you receive it. check out the financial tracker page to help you get started.

You will want to account for every dollar you bring in. If you have gone through all of the items of your budget tracker and have money left...fantastic! This needs to be put into savings, investing or used to buy some time back. That means instead of spending the entire weekend cleaning your house you pay a house cleaner to help you out or perhaps you may spend a Saturday changing your car's oil and washing it. 

Or move that money to improve a pillar  item. Like education for a certification course to finally start your dream career as a dog groomer....or whatever you like. Perhaps guitar lessons?

Uh-oh, not enough money after adjusting your budget tracker 6 times? Well, you're not alone. As you probably know you have some choices. Spend less, bring in more money or restructure your debt.

Restructuring your debt can really help.  If you have 4 credit cards you can only pay the minimum on and they have an interest rate of 25% or so on each, a consolidation loan with a 10% interest may lower your payment enough to help you balance your budget. Then, you have one unsecured debt to pay on  and you'll be paying less in interest.  Also, if  it is a close ended loan it will have an end date. Then, be disciplined with your budget tracking to avoid using those credit cards again. 

Everyone will have a different budget. Unless you are a financial professional you should seek help in this area when needed and, of course, learn as much as possible. 

Money may not buy happiness, but it does buy healthy food, electricity, health care and so many other things that can help have a more enjoyable life.

Everyone has an individual relationship with money. Some believe it is the root of all evil others that it is the main source to having a good life. The truth is money can help you move forward in life and is an essential part of your Pillar Plan, just like all of the other Pillars when managed properly. 

Completing and keeping up with your financial tracker will allow you to stay up to date with your finances