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If You Want To Save & Invest Money - DO THIS!

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Before you can achieve success in growing your wealth, you need to cover the basics of investing, budgeting, and accounting. What you do not track, you cannot optimize. So, here are my templates and how I use them for personal finance.

The easiest and cheapest way to get started is with a spreadsheet. I’m going to share with you what I use and how you can too. I bet you didn’t think this was going to an hour-long video on my investing, budgeting, and passive income tracking templates which you can download for free below, but it is. These are the tools you can use to better your personal finances. While you can download applications for these things, this is the free, basic way on a good old spreadsheet. All I am providing is some guidance, how I use these templates, and the templates themselves to get you started.

For TFSA contributions, it varies year to year so keep that in mind: https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/tax-free-savings-account/contributions.html. I'm sure it's something similar in the US as well.

I’m on track to retire in 9 years or less on my 10-year retirement journey. I’ve been using these templates for about a year now and wanted to dive in and share them with you and how you can use them to your benefit.

 

Investing (2:45):

There are a plethora of applications out there for tracking your investments, but again, the easiest and most flexible way to track your investing is with a simple spreadsheet. If you want to learn how I use this template to track my stocks and contributions, follow along with the video instructions and guidelines below.

This one is a little complex however the complexities just lie in adjusting various values like converting all the values to the right currency if you are trading in multiple markets with varying currencies and adjusting data to ensure you are covering everything correctly.

Essentially, I’ve set up this template where you can just have to plug in the stock and click the “Stocks” data type in Excel. From there, you can pull stock-specific data which I have done for everything you will likely need. All you have to do is input the stock, add how much you purchased, update the average price (which would be the same with $0 fees) to include the bookkeeping fees taken by your exchange or bank, and the dividend yield.

Spreadsheet Template Link: http://www.filedropper.com/stockinvestingtemplate

 

Passive Income Tracking (36:40):

This is an extra mostly meant to help motivate you from seeing your passive income growth and projected growth. I used Joseph Carlson’s original template and made a few changes but you can get his original template here: https://docs.google.com/spreadsheets/d/1OJNaygQsWVmttIEePSyphwS45d12cQazY4DO-Vbw4JQ/edit?usp=sharing

If my video doesn’t explain this well enough you can also just watch his: https://www.youtube.com/watch?v=XnJVKHxUkRU

When you get paid dividends, you should then update your Monthly Dividend Amount and Actual Income in the table of the spreadsheet. The only thing you really need to worry about is adjusting the chart data once you get a year or so in and want to see all the data graphed. Otherwise, it should be as simple as adding in the dividends and seeing the visualization of how your wealth is growing via the graph.

Spreadsheet Template Link: http://www.filedropper.com/dividendincometrackertemplate

 

Budgeting (43:45):

There are many budget applications out there that you can take advantage of - https://www.forbes.com/advisor/personal-finance/best-budgeting-apps/

However, if you want to track everything on a simple spreadsheet or at the very least follow along with how I budget to get a sense of direction, follow along with the video instructions and guidelines below.

Budgeting is such a crucial skill and starts with a diligence to want to save money or more importantly, the desire to have more wealth. Then it’s about tracking expenses and where your money is going. At first, it’s not so important that you’re looking to cut expenses, but simply to get a holistic look at what you spend money on and to gain more awareness of your day to day decisions for personal finance.

Over time, simply from tracking, you will begin to see places where you can cut back and if you want to have more money for investing, I recommend you do.

The way my template is set u is I have my monthly and yearly expenses listed and then I track the exact spend and the estimated expense cost for the year. This allows me to set a reasonable budget limit for that expense and allocate funds I need to be able to cover that. Once I’ve plotted everything out, I can see exactly how much money I will need for the entire year. If you can stick to your budget, you will be much more financially successful. Even if you don’t, you will be able to see where you’re making mistakes and at least be aware of them, but hopefully, you will choose to optimize your finances too.

Spreadsheet Template Link: http://www.filedropper.com/budgetingtemplate

 

With these three templates, you now have all the tools you need for success with your personal finance. There are many investing, budgeting, and accounting strategies and you can get as in-depth as you’d like, but this is meant to give you a thoroughly explained starting point.

 

How do you save and invest? Do you budget? How important to you is personal finance? Was this helpful and or insightful for you? Let me know in the comments below and don’t forget to like, share, and subscribe as well!

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$ 0.00
1 month ago

A wonderful article

$ 0.00
3 months ago

Im a good saver but sometimes its good to have a strategy and a budget plan to guide you so you dont go off track

$ 0.00
3 months ago

Yeah absolutely!

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3 months ago

Since I am a beginner in the world of cryptocurrencies, I do not dare to make any big investments. Also, I opt for a variant of secure cryptocurrencies, so my choice is bitcoin. Your article is very useful to me! Thank you for that!

$ 0.00
3 months ago

Thanks for this. I started late because finance before were tight, but when I was able to do so, I invest in several outlets. I started investing for my kids' college education and was able to enjoy it until they graduated college. Now I am into cooperatives and insurance investments. ❤

$ 0.00
3 months ago

Right now, can't save as i don't have work, yes, i do budget before, having a personal finance would be a good thing n a helpful one for me, yes, this article of yours r helpful n tells it all

$ 0.00
3 months ago

I'm just a student and a business minded I want to earn money but I don't have enough money to invest, maybe I should earn more then apply this article of yours Thanks for this!

$ 0.00
3 months ago

Its so much important for us to saving our wealth. Sir you share this important thing with us. Thank you sir.

$ 0.00
3 months ago

OMG! The details....! 🙈 If I would fill in everything I'd probably would feel lost. I was already a little lost halfway when you were explaining stocks haha.... But I think that's a good base, a good reminder exactly when did I purchase the crypto (not stock) and what was the price. And also with passive income tracking... right now I am just doing that on different tabs instead of putting everything into one tabulation. 😅

$ 0.00
3 months ago

I'm only 20, a college student, and I'm trying to save and invest as much as I can now. I learned the value of saving when I was only 6 or 7 years old because I grew up in a poor family. If it weren't for my parents, I wouldn't have inculcated this trait at a young age. In saving, I use the basic formula of Allowance less Savings equals Expenses. In Investing, I started with it when I was 18 and I've seen my investment grew 20 times my capital. Achieving financial freedom is my goal too. Thanks for your articles, I have learned a lot on how to retire younger.

$ 0.00
3 months ago

Good for you! You won't believe it, in the 80s, the schools I went to during nursery to primary (till grade 6) students visitors like bank officers to give talks about saving and at the same time, they "harvested" a large amount of students (by the hundreds) to open their first savings account even at grade 2 onwards with their parents about the value of a dollar and how saving yields interests.

At the time back then, dividends were much higher and things were a lot cheaper with less marketing blasting on our faces. I wish you the best for your achievements!

As a much older "senior", I would also ask you to split to "never ever touch it" and "rainy days only" section, so that you can compartmentalize your savings. Although yields lower if you are compounding, but it is better than accidental over withdrawals. I got that done for my first down payment for my home (to get my aged parents to stay with me) with this discipline and I had just enough to tackle "unseen circumstances".

Hope that gives you a better stance in your financial freedom in the future.

Keep it up!

$ 0.00
3 months ago

Happy to help! You're 5 years younger than me and if you started at 18, you may even retire before you're 30 :O Keep it up!

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3 months ago

Lol I plan to retire at 40, but if 30 is possible, would be a lot better. 🤣

$ 0.00
3 months ago

It’s a helpful article. I also want to earn money in future. Because it’s very important thing in the present world

$ 0.00
3 months ago

It’s very helpful article. In future i want to earn money for a happy life

$ 0.00
3 months ago

Good morning everyone

$ 0.00
3 months ago

Thank you for giving me such a good piece of information, come on the front shots will have a lot of important information for us, unemployed people like us to find something like this to earn some money, thank you very much from me read cash

$ 0.00
3 months ago

Got a great knowledge about investing. Thanks for your tips. Wanna apply when the is come

$ 0.00
3 months ago

Nice theories about Investigation

$ 0.00
3 months ago

yes i will do insha Allah 🤍

$ 0.00
3 months ago

Many of us do not know how to invest. So I will highlight all the information to invest for their purpose. You can succeed by investing if you follow my information below. I will first give you ideas about investing.

Investment: Investment is a successful journey. And investment is not a one-time event. You did it for 10 or 20 days as a one-time event. And you can never make a profit by investing like this event. Events are important for trading. But to invest, you need to set out on a long and successful journey. So you have to make all the preparations to invest.

Everything you need to invest: In order to invest, we first need to know the knowledge and information. If you have no idea about the crypto world, you will not be able to invest. You need to know the correct information and knowledge about investing You need to choose a coin to invest. Of course the coin must be a good coin in the crypto market. You will now choose coins with your experience. However I recommend you to invest with some coins. The coins are Ripple Waves DLRS Talk LTC Doge. Then you need to choose a secure exchange site. Because there are many sites in the crypto world. So before you invest, find the real exchange site. You can use yobit and Binance site to invest.

All the rules that you have to follow after investing. E.g.

  1. You have to be patient.
  2. You have to take all kinds of preparations.
  3. You have to curb greed.
  4. You need to control your emotions.
$ 0.00
2 months ago

I also love saving money. Just like @Eirolfeam2, I started as early as 6. And I also use excel to track my savings (although not expenses). Somehow, the use of excel motivates me a lot to save more, especially now that I am planning to have my own place in 2021.

$ 0.00
3 months ago

This was really helpfull i'm an investor myself. There is a lot of money to be made with investing if you really have the knowledge.

$ 0.00
3 months ago

Hello Scott, I made a read.cash account since you mentioned that it was the best one besides LBRY (and I am on LBRY too) and since you say you would become sponsor of people who joined read.cash, however I had not contact you since I didn't have many articles still. If you want to become a sponsor I would deeply appreciate it. Greetings from Mexico.

$ 0.00
3 months ago

You need to add [sponsors] to an article

$ 0.00
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3 months ago

Thank you scott! I added it on this article: https://read.cash/@cryptolohy/i-made-some-nfts-wanna-buy-some-a6086929

I will add it to my other articles as well, but in the mean it that one should work

$ 0.00
3 months ago

Hello! bro. Please how did you activate the sponsors' button for that article? I can't seem to locate the $ I read one have to click to activate sponsorship

$ 0.00
2 months ago

You have to add the following inside the article: [sponsors] Just copy paste: [sponsors] and it will show up.

$ 0.10
2 months ago

Ok. Thanks bro. Let me do that. Worked fine.

I guess the old tutorial located here >>https://read.cash/@Read.Cash/get-sponsors-a2b66c10 is outdated

$ 0.01
2 months ago

Yeap, outdated

$ 0.00
2 months ago

Yeah for sure

$ 0.00
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3 months ago

Really very good contribution to this important topic. Saving is very important in every age group, especially in today's world. The good old investment with a bank is no longer retabel for years, so other ways must be found. So thanks again for the contribution, I hope there will be many people who consider and use your suggestions...

$ 0.00
3 months ago

thanks for this guideline sir ,i exactly need those information

$ 0.00
3 months ago

Thanks for this guidelines sir I really appreciate this post. Your sir helped me with no more than 0.01 dollars.

$ 0.00
3 months ago

Sir i want to how to earn money from read cash?please sir explain me about it.i really want to know that.

$ 0.00
3 months ago

I like your way of explaining. You explain everything in detail. I think It's a good idea to put your money in the right place and make a profit instead of keeping it. I hope people are becoming more aware of investing more money and they will definitely make four times more profit from their investing.

$ 0.00
3 months ago

I have been wanting to invest on a legitimate platform. I had enough already in scam site with huge return. I've learned my lesson, i will save again to stake it in a transparent platform.

$ 0.00
3 months ago

I'm very frugal by nature. Therefore, I have not kept track of my expenses so far. In my special case, I think that there is not a lot to optimize in that area. I would probably need to focus on earning more money. 😅

And I will start tracking my residual income in order to motivate myself. 😊

I have already kept track of my stock investments. However, when the market kept falling in March, I temporarily stopped as it was extremely frustrating. Just now, I started updating my spreadsheets. 😅 Due to three bankruptcies, I am still down overall, however. 🙈

$ 0.00
3 months ago

Hello guys, really Lbry is one of the opportunities to create content and creators growing.

$ 0.00
2 months ago

The encouragement is ok

$ 0.00
2 months ago

Nice post

$ 0.00
2 months ago

Thanks sir for this

$ 0.00
2 months ago

These tips are surely beneficial for those who are struggling to save money. Saving is not a major issue for me though. I am frugal and I spend my money only when it's needed. Although I'm still an impulsive spender sometimes 😆

$ 0.00
3 months ago

Yeah even if you're a good saver, I think keeping a budget can help or at least give you a more holistic view of your expenses.

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3 months ago

That's right. It should be practiced in a holistic approach too 😁

$ 0.00
3 months ago

Definitely :)

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3 months ago