The B Word: Budget

To break it down in the most basic way, a budget is an itemized summary of your income and expenses for a certain period of time. It helps you determine whether you could pick up that coffee on the way home or whether you should have a cup of tea in the lunch room at work. Usually, a budget is created using a spreadsheet, and it provides a very organized, and easily understood breakdown of how much money you have coming in and how much you are letting go. A budget is a tool which will help you manage your money and set your spending priorities. It doesn’t matter how much or how little you have. A budget allows you attain financial freedom faster and results in less stress when it comes to wondering where your money is at any given point in time. With a budget, there are no surprises, because you’ve been planning all along.


Money may be sent to you from a friend or relative who lives in another country. This money may be sent so that you have some extra funds to help you pay bills or even save. It may be sent by mail or wire transfer. It is considered a gift. This type of gift is known as a remittance.

Get A Mentor

Mentors are all around us. Basically, a wealth mentor is someone to whom you are accountable and someone you can trust to give you sage advice when it comes to your money. This could be a trusted friend, family member or colleague who has been very financially successful and who you know you can trust. Remember, if you cannot trust the person wholeheartedly, try to find someone else! There are great benefits to getting a mentor:


It’s really important to start planning from early. Oh yes, we know: when you’re young, you’re invincible, right? WRONG! We will all get old. That’s a solid fact. So, plan from as early as possible. If your job doesn’t offer a retirement plan, direct some of your funds to a retirement planning account. You’d be surprised that many plans available today aren’t that expensive. And the earlier you begin, the cheaper it is for you. Start with at least 5% of your earnings and then work your way up to 15% so that you can save for a happy retirement.

Wealthy Habits

How do people get rich? It’s not an elusive question. There are habits that clearly support wealth, while others can easily destroy it.

Spending Money Wisely

It is said that spending money is easy…saving it is the more challenging part! Here are a few tips on how to spend money, because…yes, we all must spend at some point in time!