Budget

The Second Pillar of Financial Wellness

Emergency Savings Accounts
Budget
Debt
Insurance / Protection
Investment Retirement
Emergency Savings Accounts
Budget
Debt
Insurance / Protection
Investment Retirement

Asset Strategy’s 50/15/5/30 Rule:

This is the budgeting rule we recommend, where you put 50% of your money toward your MUST HAVES / SHOULD HAVES, 15% toward your PRE-TAX INCOME FOR RETIREMENT, 5% toward your Emergency Savings Account (ESA), and the remaining 30% toward your COULD HAVES / WANTS.

Budget 50-15-5-30 Rule

A Budget is a way to balance income, expenses and financial goals for a specific length of time.

In order to achieve a goal, you need to stick to a plan, and stay focused on a clearly defined process; and that’s where having a budget is so important.

Through a budget you can develop clearly defined financial goals along with a process to achieve them. In essence, you are setting boundaries on your financial behavior so that you can stay on track and achieve every goal you set for your life.

  • Embark on your journey towards financial wellness by mastering the art of budgeting. Navigate your expenses with precision, ensuring every dollar has a purpose.

  • A breakdown of your budget can:
    • Help you control your spending
    • Keep you on track for your financial goals
    • Keep you from feeling financially overwhelmed
    • Help you prepare for unexpected expenses (ESA)
    • Help you avoid or get out of debt
    • Keep you organized
    • Help you find financial contentment

  • And don’t forget! Life is all about celebrating the small wins, so if you fall off the wagon, refocus your efforts, be mindful, and get back on track.