Step 7 —Add it up!
Updated: Aug 24
If you have been following along with the steps of the MGB Investing Starter Kit process, then you should have some information on your spending from doing Step 2 all this time--the Digit Tally. I posted about this before, but here's more clarity on the process--time to add up your expenses. Here's a free MGB Money Tracker on Google Sheets that you can use. The third tab has an example of a month of spending in different categories.
How much does your life cost for a month? Once you do this exercise, you'll know for sure, and that's good information.
Once you know that, the second part of this step is to aim to increase your abundance fund from $500 in a checking or savings account, to 1 month's worth of expenses. So whatever that number was that you learned from adding up your month of expenses, now work toward having about that same amount in your Abundance Fund. If you have to ever use money from your Abundance fund, try to replenish it as soon as you can, to keep it above $500, or your amount for one month of expenses.
How does that sound? Let me know in the comments! And as always, thanks for reading this.
Step 1 in the MGB Investing Starter Kit process is HERE
What is The MGB Investing Starter Kit? is HERE
Sign up for the waitlist to get an investment account with us, click HERE
And again, to join for our next MGB Investing Starter Kit Workshop, sign up HERE