Seventh Element: Kidz AccountThis account is where you set-aside just for your children. The percentage you elect is to be determined. Examples include non-court ordered child support, birthdays, or a 529-education savings plan.
Eighth Element: Project Account
This account is where you elect to repair your credit, build a deck, or remodel your basement. 10% from your main account is deposit in this account. For example, if you earn $500 a week, $50 is placed in your Project account.
Ninth Element: Tithes Account
This account is where you elect to pay your tithes. 10% from your main account is deposit in this account. For example, if you earn $300 a week, $30 is placed in your Tithes account.
Tenth Element: Miscellaneous Account
This account is where you set aside for miscellaneous purchases and/or items 1% to 5% from your main account. For example, if you earn $1,000 a week and elect to allocate 5% for miscellaneous purchases and/or items, $50 deposit into this account. For example, if you are allergic to cut grass at the beginning of spring you could elect to pay someone to cut your lawn funded by this account.
These are the "ADVANCED" elements of a Money Management Flow Chart.
Next: Project Account - Credit Repair
"Isaac L. Black III -the Money Management Flow Chart is not a quick fit or a get rich scheme. Over time you will enjoy your financial freedom & the health of your finances. You can change the trajectory of your future."
February 1 at 2:28pm via Mobile Web
Eighth Element: Project Account
This account is where you elect to repair your credit, build a deck, or remodel your basement. 10% from your main account is deposit in this account. For example, if you earn $500 a week, $50 is placed in your Project account.
Ninth Element: Tithes Account
This account is where you elect to pay your tithes. 10% from your main account is deposit in this account. For example, if you earn $300 a week, $30 is placed in your Tithes account.
Tenth Element: Miscellaneous Account
This account is where you set aside for miscellaneous purchases and/or items 1% to 5% from your main account. For example, if you earn $1,000 a week and elect to allocate 5% for miscellaneous purchases and/or items, $50 deposit into this account. For example, if you are allergic to cut grass at the beginning of spring you could elect to pay someone to cut your lawn funded by this account.
These are the "ADVANCED" elements of a Money Management Flow Chart.
Next: Project Account - Credit Repair
"Isaac L. Black III -the Money Management Flow Chart is not a quick fit or a get rich scheme. Over time you will enjoy your financial freedom & the health of your finances. You can change the trajectory of your future."
February 1 at 2:28pm via Mobile Web
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