my money management system | my first million

today i’ll share with you an overview of my money management system — how i plan my money & set targets, monitor my finances, strategize for my savings and investment, compartmentalize my bank accounts & credit cards, use different wallets to organize my finances. leggo!

Hey guys welcome back to my channel today’s video is going to be another hashtag my first million episodes money management system go which has helped me achieve my financial targets for four consecutive years now i’m about 18 19 20 21 yes and hopefully by the end of this year five straight years now by the way if you are new to my channel hi my name is thea and

I create content on personal finance and adulting 101 so adulting make sure that you hit the subscribe and bell button beside it but i’m a notification every time we have a new video well it may seem like i’ve always been on top of my finances and in 2017 they wipe out your finances question if there’s a word to describe it it’s financially so to those of you

Who are currently struggling right now financially and predict the island before let me share with you one of the things that i learned from my experience sometimes you just need to start with a small progress and then keep doing something that would generate small progress until such time when you look back you’d be able to tell yourself and in my case it took me

Two years for me to be able to say na ramdam kona young improvements a finances goal like for example in the time when i’m a mug budget better indeed worked maybe you can try to understand your expenses first if no overwhelm maybe you can focus on one first zero out and then move on to the next if you feel like kuala know 10 000 pesos to start investing in mutual

Funds 50 pesos invest which i would like to thank for partnering with me in today’s video global companies for as low as 50 pesos there hindi lantern applies investing but personal finance in general then an important is you get started and you become consistent with it so with that said let me now share with you the money management system that has helped

Me reach my first million milestone so first aspect how do i plan my finances along your bonus corporate finance companies project their budget five years in advance and that’s one of the things on the incorporate was a personal finance in a hindi ajo short-term view so what i did was i set a target retirement fund by the age of 60. but i think work i can still


Live comfortably tapas and work backwards and invest every year for me to reach that amount don’t worry guys i’ll be doing an in-depth video on this companion obama computing target retirement fund depends on lifestyle and inflation and assumptions not in so given that i have my yearly targets per antenna target co is makano bayongnettong savings and investment by

Year end income versus expenses and target savings and investments by the end of the year and target savings and investment go so it doesn’t matter expenses go for as long as maricho young net savings and investment target goal so before i used to budget monthly long but with that short term approach it felt like i was living paycheck to paycheck income for the

Month next month and in relation to that have you ever wondered how sometimes well done for the month pero somehow so when it comes to money management cash flow also plays a big role okay guys i make sure in asaba available now let’s move on to the budget process i already made an in-depth video on budgeting 101 one of the tips namaste share cosignion and the

Game changer i set aside money for investments and savings first before i even start budgeting for my expenses debunks having a supporting son slow wait work expands so as to fill the time available for its completion so may project and you allocate one week for it it would take you one week to complete it completely three days long it would take you three days

To complete it and the same applies when it comes to personal finance your expenses tries to meet your income so if you make your whole income available to your expenses first well i’ll and investments even before you start budgeting your expenses some of you may think i’m the link for you as i’ve mentioned earlier you can start investing with what you have so

G investment kayla one valued id to fully verify your gcash account and 50 pesos to start investing in local funds 50 100 150 pesos from investment mall of course it would be really nicer to have a big capital to start with so i had to make do with what i have but you know what there are still benefits to starting with just a small amount first you start early

At alumni the things investing the earlier the better second you make it a habit and it becomes a priority so that kung du mating time bonus increase instead of um to remind me to set aside money for my investment fund so you can use the alert feature as well you can always start small just like how i did it and then goldman eventually ma palachi musha as your

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Income increases and as you handle your finances better next part i mentioned at the end of each month i evaluate your cash flows go for the month make sure i’ll send you guys a prototype non-budget planner in the launch scope as you can see oh april 2021 now i did an in-depth videos a network prior this video so you can just watch that at the end of the month

I update my net worth and i see to it in a month and month improve your financial position call right now guys i still track all of my cash flows like inflow latina outflow it takes me around 15 to 30 minutes every week but angolgo long term is to reach a point expenses and this is how i manage my money and cash both virtual and physical cash so the key for me

But um organized in finances co is i compartmentalize at the lila mcconnell finances a bank account is a savings coaching funds invest in moodle every online sale here’s how i compartmentalize my cash and credit cards first for cash i have three wallets your first multi-currency wallet is for my petty cash so every time we withdraw a home cash zip compartment

Shop as you can see ben 10 50 second wallet is for my foreign i would also recommend this let’s say you can segregate your cash per category in a budget you i have another card holder which is this i just have here the credit cards that i use atm and some cash usually five hundred pesos per minute and two thousand means and two hundred pesos islam now for the

Bank accounts sitting in langkaws accounts i’ll be sharing with you a total of seven active bank accounts but i have more than that first is my payroll account and then i receive lahatnam payments a project webinars income from google adsense affiliate commissions by the way lahatyan and then from this payroll account in the transfer allocation for my savings and

Investments now this payroll account also serves as my expense account which is next i have one account which serves as my secondary payroll account because it means payment checks in the deposit secondary payroll account online check deposit feature and this account also serves as my backup expense account in case macaroni problems a payroll account next i have

An account for my six months worth of emergency fund in takto hindi nagalao nakasata i also have one account for all of my sinking funds i did an in-depth video on seeking funds which i’ll leave below say some account and i have a separate tracking sheet for that on korean company replace now and then i have one account for my investment fund hindito investment

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Account this is just a savings account where i keep these liquid funds but in case my opportunity for me to invest meron the whole liquid cash na predicam invest and you know i can take advantage of the opportunity i have one account for anything condo related processing documents i created a separate bank account for this condo parallel charges relating to this

Condo is that’s one tip i can share with you now from biblical property create a separate bank account and then i have one checking account which i used to use for my rental payments but now that i don’t rent any more query plan and then last is for the credit card so currently i have three active credit cards but i mainly use two cards the first one i use for my

Personal expenses like buy elsa meralco bambilena household supplies bunk grocery and then i have another credit card that i only use for business expenses now generally speaking i’m practicing credit card uk credit card but in case malachi discount if i use an e-wallet or a debit card i’m open to doing that but on default setup call is on credit because i want to

Take advantage of the cash flow benefit of my credit line so that’s all guys for my money management system adoption along guys what you think would be beneficial as a personal finance new but so far this is a setup that i’m really happy and comfortable with it also doesn’t take a lot of time but if you’d like me to create a video on how you can diy your tracking

System or money management system let me know in the comment section maybe i can teach you the basic formula and basic set of para pretty new e-customized to your liking so i guess guys that’s all for today’s video thank you so much for watching this if you did enjoy this or found this helpful make sure to tag me on instagram at theaceboutista and use the hashtag

My first million sharing in that in seconds ig stories and even here’s a comment section and target new on the presentation income you that you’d like to set aside for your savings and investment and i will see you on my next video bye you

Transcribed from video
my money management system 💸 | my first million 🎯 By Thea Sy Bautista