Fashion, Travel, Uncategorized

Three Changes to increasing your Bank balance

July 20, 2016

Health is the single most important factor in life. And that is exactly why it has to be the top of our priority list when it comes to our lifestyle choices. However money can make life a lot easier and more enjoyable in some cases. Today I wanted to talk about three quick & easy changes you can make to increase your wealth.

Investments

Investing is an amazing way to increase your earning potential, the beauty behind investing is the monetary value can be as little or as large as you wish. Property for example is a well known investment choice however it doesn’t have to stop there or be potentially as large as a property investment can be, explore into businesses & projects that look for funding, collectors items that will increase in value over time and so on there are so many avenues to explore.  You just need to have your money work for you, thats investing.

Multiple sources of income 

For many of us we work at least 5 days a week for the best part of the day. And yes we need time out to relax and enjoy our social life. However two incomes are better than one & working on a side business that ideally is your own can make a huge difference. my advise simply utilise the internet you can work from home put in as much or as little time as you wish & again the opportunities are endless. Even if this is to cover leisurely activities it all helps to increasing your bank balance.  You can sell, trade or offer online services the list goes on.. Something well worth exploring.

Banking Structure

The most important factor in building your own wealth is saving, lets face it if you earn a million a year and spend it all your net worth is £0. Many people spend all or more than their earnings, it is a common trap to fall into & one that requires discipline & structure to overcome. I was taught a system that makes staying on top of your finances easy. The three bank account tier system. The key point here is to allocate budgets to each account staying realistic to your earnings. Set yourself a target figure you want to work towards and trim your spending accordingly to achieve this, watch your bank balance grow & the stresses of money fade.

Spending account

This will be an every day account which is used for leisure

Instant access saving account 

This will be a savings account which will be used for outgoings such as insurances, mortgages, holidays and any unexpected costs.

Cash Isas

Your true saving account.

I hope you guys have found this post helpful and if you haven’t already try adopting some of these ideas. Until next time have a great weekend guys. – AG


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1 Comment

  • Reply Kristle Rose July 25, 2016 at 10:59 pm

    I absolutely loved this blog post and will definitely be applying this to my lifestyle. Thanks Ali!

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