How To Distribute Your Income
Episode description
When you look at your income as a whole how and what should you be allocating where?
Shaz explains how to start tracking and distributing your income in the right way to make a positive difference in your life.
If you follow his advice and make a start on budgeting you will find it quickly becomes a positive habit in your life.
KEY TAKEAWAYS
- 60% of your income will go towards your monthly expenditure including around 30% on your mortgage or rent.
- 10%. Must go to capital appreciating assets – your investments.
- 10% needs to be in your ‘rainy day’ fund.
- Plan to put a minimum of 5% in a charity account and give to your charity of choice.
- 10% on your lifelong learning will make your future better.
BEST MOMENTS
‘The more good you do the more you get back in return’
‘The more you invest in yourself the better your future will be’
VALUABLE RESOURCES
ABOUT THE HOST
Shaz Nawaz is a serial entrepreneur; he owns five thriving businesses in diverse sectors.
Shaz is committed to helping business owners build successful businesses. Having conducted over 3,000 business growth consultation he has helped his clients generate millions in additional profits. His purpose is to inspire business owners to build businesses that are hugely profitable and sustainable.
He is a huge advocate of having multiple streams of income. He has written a number of business books and regularly contributes articles to mainstream media outlets.
You can find Shaz on: