Budget your way to financial wellness
Effective management of income and expenses
If you add up all the income you earn in your lifetime, you’ll be surprised how much it can amount to. An annual income of $70,000 can translate into a cumulative amount of $3.5 million* after 35 years. That’s a sizable fortune. However, the requirements of daily life means your income will dissipate via such things as taxes, loan repayments and living expenses so what is left over will only be a fraction of this. Nevertheless, you have the ability to influence what you spend on and how much to spend. Effective cashflow management is the cornerstone to achieving financial wellness.
*Assuming income increases by 2% each year. Amounts are before tax is deducted.
Mastering the psychology behind your spending habits and behaviours
Some people seem to be very good at managing their money while others struggle with it. A lot boils down to habits and behaviours around money, which may have been shaped by personal experiences, family upbringing, personal tastes and outlook in life. It’s important to recognise your own personal psychology on money so that you have the right support to make it work for you.
Tribel’s Expense Tracking & Budgeting plan
Our Cashflow Management Plan maps out your expectations and risk appetite, to help you select the right investment vehicle, asset class mix and underlying investments.
Want more information? Download our brochure on Cashflow Management or get in touch with us to discuss.