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X-ORIGINAL-URL:https://dadsinbusiness.co.uk/
X-WR-CALNAME:Dads in Business
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CLASS:PUBLIC
UID:MEC-f57a2f557b098c43f11ab969efe1504b@dadsinbusiness.co.uk
DTSTART:20230130T000000Z
DTEND:20230131T000000Z
DTSTAMP:20230807T160100Z
RRULE:FREQ=YEARLY
CREATED:20230807
LAST-MODIFIED:20231006
PRIORITY:5
SEQUENCE:4
TRANSP:OPAQUE
SUMMARY:Make a savings plan
DESCRIPTION:\nWhat would you like to do, where would you like to go, what would you like to have paid for in 12 months?\n\n\n\nI want a month in Spain… now how do I get there?\n\n\n\nSo once I had my overview of numbers coming in and out from the family finances each month, my next step was to create some kind of savings plan.\n\n\n\nAs a boy, I never really understood the idea or concept of saving. My brother was brilliant at it, but me, as soon as it came in, I bought a CD or tape and it was gone just as soon as it arrived!\n\n\n\nNow though, my perspective is different; I have responsibilities, I have goals, I have kids.\n\n\n\nI read a superb book once (and many times since) called Profit First. It helps business owners manage business finance but the concept for me is quite similar in a personal setting.\n\n\n\nI partition a small % each month of my gross family income and hide it away.\n\n\n\nThis contributes to family savings but also family treats, holidays and the like.\n\n\n\nThis small % contribution can easily be found by addressing our monthly expenses so in my case it didn’t require earning more as such to save for things.\n\n\n\nIt’s incredibly refreshing and I find it quite comforting to know the money I’m spending on treats or holidays or putting away for a rainy day is there and budgeted for.\n\n\n\nI now set myself targets and plans to support my family finances and expenditure, as well as the business.\n\n
URL:https://dadsinbusiness.co.uk/events/make-a-savings-plan/
CATEGORIES:Money
LOCATION:Page 12-17
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