A Mother of Abundance needs to know how to manage her financial abundance. Your task on Day 11 of the 28 Days of Abundant Practice Challenge is to learn some personal finance basics.
You need to do this for both your personal and business finances. Today we’ll deal with personal finances.
Check your bank accounts for your monthly outgoings. Look at your savings, direct debits, standing orders and regular monthly payments like travel expenses, food, clothing, etc. See what’s left over and keep an eye on this amount each month to ensure it doesn’t fall too low. If this amount grows, then so must your savings.
We’ve already discussed reducing spending where possible on Day 4 of the 28 Days of Abundant Practice Challenge, so I won’t go into too much detail about that here. Just remember to have short, medium and long-term savings goals and have a debt repayment system in place if you need one.
Do you have an understanding of personal finance basics? Is this something you need assistance with? Is this your strong point? Share your comments below.
Comment on social media with the hashtag #28daysofabundance, join the facebook group here:
https://www.facebook.com/groups/motherofabundance/ Feel free to invite other ambitious mothers to the group.
This post and the 28 Days of Abundant Practice Challenge are inspired by the principles in the 9 Steps to True Abundance infographic. You can get your free copy by signing up below.
