What happens if you are having difficulties with making the categories and allocations work for your current situation ?
When starting out if you or your child cannot live within the amount and percentages I have recommended for these categories, the example shoes what ou can do
- Keep your expenses as low as possible and calculate what percentages of your income your total expenses amount to
- we must never compromise on tithes and charity, because that is what opens the gates of blessings and increases into our lives.
- You have calculated yout expenses and they still come up to 80 % of your total income.
- This leaves a balance of 20 % of your total income to allocate to the remaining categories.
- apportion this 20 % budget balance into the same categories as mentioned above, however, using the folloing recommended percentages applied to the 20 % budget balance amount.
- these percentages can be applied to any percentage of balance left over in the budget after your expenses and tithes have been deducated
- if it is nt practical for you to follow these new rations, then you can also adjust the ratios to suit your own situation
- keep the wealth multiplier and the planned expenses accounts as the biggest portions if you adjust the ratios.
- remember, the purpose of your budget is to set and follow a plan that will enable capital accumulation and wealth building.
Start practicing with what you have and where you are in your current situation. Then move on forward by gradually increasing the amounts saved and reducing the expenditure.
You can also use the budget template given below to work out your budget andsavings. Feel free to customize it to suit your own financial plan, but keep to the principle of a wealth multiplier lifestyle.