Making Your Future a Success

Making Your Future a Success

Making Your Future a SuccessMaking Your Future a SuccessMaking Your Future a Success

"Change will not come if we wait for some other person or some other time. We are the ones we've been waiting for. We are the change that we seek"

Money Management

What is Money Management

Money Management is when we implement a structure to remove the uncertainty and potential pitfalls when spending our money. Having this structure in place ensures all your fixed essential expenditure is covered and separates your disposable income freeing you to enjoy it with confidence.

How to Apply Money Management

The structure is to have separate Bank Accounts to cover the different areas of your spending. Each bank account is outlined below and the reasons for it. It might feel like a daunting prospect having to maintain multiple accounts but with the help of your budget tool you will have the confidence to manage them successfully.


Account One - Fixed Essentials

You probably already have this account, its where your wages get paid into, you pay your bills from and also use it for general spending. Going forward this account should only be used to receive all your income and pay your fixed essential bills. Thanks to the budget tool you created in Step 1 - Budgeting you also now know with certainty how much is required each month to cover these fixed essential bills, anything leftover is for the next accounts.


Account Two - Food

You will have noticed that we didn't include food as a Fixed Essential in our budget tool. Food is clearly an essential spend, however, our spending habits on food are not fixed so this is why food has its own account. Its possible you may not even be aware how much you are spending on food each month so having a separate account is forcing us to budget for this type of spend and potentially help save some money. Work out your monthly spend on food or set yourself a budget and set-up an automatic transfer to move that amount from your fixed essential account to your food account each month.


Account Three - Disposable Spending

Life is about enjoyment and so having an account knowing you have the freedom to spend its contents on whatever you desire is a great feeling. Again, having it separated means we do not run the risk of missing Fixed Essentials commitments or even risk running out of money for food. Work out how much income you have left after covering your Fixed Essentials and Food and set-up an automatic transfer to move that amount into this account.


Add your new Accounts to your Budget Tool to continue building your financial landscape.


Download our free tool - Step 2 Money Management Budget for guidance