June 20


Money Management Workflow Strategy

By Raymond Eaddy

June 20, 2017

Financial Freedom, money management

Now that we have a budget together. If you don’t see how set one up here. Let’s put the money management workflow system into action.

Day One

Create your budget(s)
Set up your accounts: Make sure that you have your accounts are setup before your income starts to come in.

Pay Day

I update my working budget to give all my income a place to go.

Twice a Month

I’ve chosen the 3rd and the 17th for my days.

  1. Transfers go made from my income account to my other accounts based on the amounts I entered in my budget.
  2. Any money that needs to be in the expenses account to cover bills I transfer it now
  3. Bills that are due between the due date and the next date get paid, if they have not been set up for auto pay.

Every Month

I take any funds left over for the month and split them as followed:
90% Debt Paydown
10% Investment Capital

Every Other Month

I take the funds from the debt paydown category and put it towards which ever debt I am working on at the moment.

Every Quarter

I take half of the funds from the financial freedom account. I have debt so I take 90% of that for debt paydown, with the remaining funds going to my play account. If I had no debt, then I would celebrate with that money.

Let’s go to work

We now have a game plan, the only thing left to do is to put that plan into action.

Want to read this whole guide? Check out my money management strategy.

Raymond Eaddy

About the author

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