Budget 101 Your Money Inventory

100 dollar bill in the light

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Budgeting money first steps

Money Inventory Basics

It’s that time again, Tax season.  The first quarter of every year is when new resolutions are made, and many people get their tax refund. Tax refund time is the perfect setting to start your financial makeover.

Some years ago, I got fed up with my financial status. I had a good income but I could not keep any of the money I made for any length of time.  There had to be a reason I was making a good living but living paycheck to paycheck. Many of us may find ourselves in the same situation.

When you think about your finances and where your money is going, on the surface things may seem ok. A closer look at your finances may be in order. I know you may have heard this all before, but it really is true. Money and resources must be managed.  The time is ripe to knuckle down and become your own auditor.

Where do I start: Budget – Money  – Inventory


  1. Grab a piece of paper ( Not your computer or tablet)
  2. Think – about every and I mean every dollar you spend.
  3. write down three columns on the piece of paper. Label them Bills – Necessary – Unnecessary.
  4. Write every dime you have spent in the last three months in bills and spending.
  5. Separate the items into the three columns.
  6. List how much money you make per month on the paper.
  7. Add the total of the columns and play with the unnecessary from the money you make to see how much you can save.

100 dollar bill in the light
100 dollar bill in the light

photo credit: torbakhopper transparency with ben, scott richard via photopin (license)

What am I doing

Recording where your money has gone is a start and only a start. The reason for writing down these numbers is to find out how many bills and spending items are on the table.  The next action putting items in categories gives you and indication where your money is going while placing priority on those funds.

I did it you can too!

Listing out where my money was going was a sobering act. I started to find my bank account had a trickle in the form of $20 to $100 expenses that were a pure luxury and very unnecessary.  Little money vacuums such as subscriptions, dues for things I really did not use and other money ripping items. those were the bills listed in the unnecessary.


Once I had a visual on expenditure, it was easy to see I could get my money in control. It became a game to see how much I could save.  When I had a bill that I could not pay off immediately, I developed a time plan by attacking the smallest, then rolling the payments of the paid off debt to the next item on the list. My family thought I was nuts, as they had not had a money mindset change as I had. Actually, my divorce came some time later(go figure). It was imminent anyway. I went nuts, I called credit card companies, closed accounts,  got rid of cable channels, started taking car of my own lawn and snow. I was a mad man.

I want to touch on something I may have breezed over. The reason for the 3 moths of bills was to get a good average of items that many not occur every month. Those surprise non-monthly bills can hit you in the face. If you don’t take an average over time of your spending habits, that sudden expense could derail your efforts.

24 Months – The Outcome Over Time

Failure to reach a goal is typically due to unrealistic expectations. 24 months is a good timeframe to make great changes in your life. As you rid yourself of the unnecessary cost in your life, freedom will show up. The goal is to run for the duration and not sprint to the finish line. This is a lifestyle to make living better and more manageable. Freedom of choice will become more dominant as you free up money to be used or invested. The task I have placed before you is really easy. Start with one item per month then use the snowball moeny management method to get your finances in order.

Next time I will show you some free tools to help you budget.

Now go live the Billionaire Lifestyle.


Peace Out Emmitt



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The Good Money Opportunist


Some people think the word opportunist is a bad word, well that depends on who you ask. An opportunist is simply a person who is open-minded and present in the moment for any possible advantage for himself or herself. All businesses and startups are the result of someone looking for or identifying an opportunity to serve a niche
community or the population at large.

I understand how someone may view an opportunist  a bad person or thing, but that is only how modern media presentation the picture to us. Television and movies have simply given the wrong impression of the opportunist for the most part, programming the population to be in victim node and identify with the victim as the only means of good. It all about perception and directing our attention to a particular view. In turn much of our society plays the part of the opportunist. There is plenty of opportunity, if we all open up to the vast possibilities.

Important for us as people is practicing the constant vigil of having our eyes peeled and our opportunity radar on maximum for opportunities to positively promote our life and the lives of others.

Being a positive opportunist provides the world with:

  • Good deeds,
  • A learning experience.
  • A sense of service
  • Overall awareness
  • Self worth
  • Financial gain.



Being a good money and deed opportunist is the practice of saying YES, instead of nothing or no to things and situations before us. I’ll give you an example, have you ever encountered someone who stated “I wish I could___________? (Fill in the blank). That is an opportunity for an opportunity. Someone needs something that you may be able to provide.

There are times when your knowledge is worth a great deal to someone else. Someone is willing to pay you to mentor or tutor them based on information or skills  currently  in your personal arsenal. There are other methods of seizing opportunities simply by providing a service. Many of us have talents and knowledge currently not being g used for opportunities which present themselves daily. Don’t think of financial gain off the from the start, sometimes just a show of faith and goodwill may turn into some fortune at another point. Don’t expect to always get your fruit where you plant your seed.

If you have nice size pickup truck, I bet you could make some side hustle money every weekend with a small Craigslist advertising campaign and a little hustle.

The whole point is to open your eyes, ears and other senses taking stock of your personal inventory to find some hidden value lying dormant, just waiting to be used. If you can profit $50.00 every weekend that’s an extra $200.00/a month, or $2400.00 a year. Sounds simple and small until you add the numbers up over time. Making $50.00 a weekend should be easy if you put a really small amount of effort forward.

There was a time my goal was just to make $250 a month, which I reach consistently in a relatively short time. As time progressed that $250 began turning into much more than just a side hustle, eventually that $250 became a LLC small business for the next 9 years making multiples of that initial $250. Starting my own small business saved me while helping me learn more about opportunity and being prepared when opportunity knocks.

There is a thing I learned early in my life. Alway, and I mean always look at things objectively and trying to learn things just for the experience. I have an uncle (Edward) who has never attended formal college, but continuously is involved in courses and self learing to the point I don’t think there isn’t much he can’t do in this life. I remember a HVAC course he was taking just to learn the skill. He never had an intention to really use it but the skill was available if required.

There use to be these places where anyone could go for acquiring knowledge for free called the library, but not the library is in everyone’s home in the form of YouTube.com, Wikipedia and Google.com, Knowledge is all around you.

Last example, my brother-in-law had a car amplifier that required repairing, I told him I would try to fix it, and asked if I fix the amplifier just pay me for the parts. I visited the library, learned about switching power supply circuits and fix the unit in less than a week. I figured it I fixed his amplifier,  more people are available who could use an amplifier car audio repair service. A side Hustle was born for the next 5 years.


Opportunities are literally everywhere, www.craigslist.com is full of opportunities. Even if you see some service someone else is providing, that’s an indication of validity. Try it yourself. So is Fiverr.com, and kickstarter.com, indiegogo.com  just to name a few places to search for the opportunities. You may find a different point of view on a service or product to offer.  AW Hell, just sell lunches you make to your coworkers, bet they will buy them, and you will make a little cash.





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What’s your monthly money outcome of your income?

-----What is my Outcome of my Income-----

Your Salary is not your Income.

Salary is the total amount received for a task provided to you before taxes fees and obligations are removed. Income is a percentage or actual dollar amount left over after certain criterion have been financially met.

Study your paycheck stub, or yearly W2 form from the IRS and it can be sobering.  There several numbers will clearly stand out, of them being the largest item is your Federal withholding’s from your paycheck or yearly W2 salary. This deducted money you will never physically feel, see, lay with spread on your bed in Las Vegas or manipulate even though it’s your money. There are  many cases requiring you and I to contribute even more money to the Federal and State government during the American tax reporting season. On average 1/3 -1/4 of your income is directly removed from your hands in the form of taxes and fees. The more debt of certain types can offset the percentage, but who wants debt to save a few bucks. Debt to save actually sounds crazy, does it not?

You owe, you owe it’s off to work you go!

Yes there are methods to use the money withheld from your paycheck and have it in your pocket, but only for a briefly, since it must be paid to the Government agencies such as the IRS at some point. It is not your money, so stop thinking it is you money.  They say one thing is certain Death and Taxes. The more you make the more you relinquish, unless the category of super rich is your niche tax bracket. It is a good idea to understand what your true income or “OUTCOME” of money actually available to you, which is that monetary value you have at your disposal to do with as you please. What you will find is that it is lower than you thought.

-----What is my Outcome of my Income-----
Calculating your true Outcome from your Money Income.

Many of us obtain a paycheck monthly, bimonthly, or in the rare instance weekly basis. Paychecks are usually allocated for the various financial obligations for survival, living combined with the automatic deductions. I wonder how many of us truly understand how much income we have at our disposal with each passing pay period or month.

Here is a constant question, “How can the money you receive as income be income if it is outgoing before you decide it’s purpose”?

The income we report to the federal and state government is not a true indication of our personal income to do our bidding. So let’s break this down. We will use $2000 gross paycheck as the example. Your employer states in the form of paper tender or the form of a direct deposit stub you have generated for yourself $2000.00. So here is what you can expect.

$2,000 = Gross Pay a single two-week pay period, which means your salary is approximately $4,000.00 a month, or $48,000.00 -$50,00.00 a year depending on if it is bi-weekly or semi-monthly.

Now for the deduction before you obtain a dime.

  • Federal Income Tax
  • State Income Tax
  • FICA (Medicare and Social Security)
  • Voluntary Contributions (Health Insurance)
  • Involuntary Items – Child support, defaulted student loans, taxes, and unpaid court fines.

What is left over is your Net Pay.

Example: Here is a shot of a downloadable Excel file to perform your audit.

Here is the Link:  what_is_your_income

Calculating your expense outcome.
Calculating your expense outcome.

From your net pay you still have a list of the most common financial obligations such as:

  • Housing payment
  • Transportation payment(s)
  • Child Care
  • Utilities (Gas, Water, Electric, Heat, Trash,)
  • Student Loans and education bills
  • Cable bill
  • Cell phone
  • Food
  • Credit Cards
  • Medical bills
  • Miscellaneous
  • Car insurance
  • Gym/club memberships

If the listing of obligations are added together you may find your “OUTCOME” of your “INCOME” is  much lower than you think.

It is far easier to move towards a controllable money savings system once you are armed with the proper cash flow and accurate information. Typically you may find several areas to trim the fat in order to hold on to more of your outcome of cash.

Ignorance concerning money outcome is one reason credit cards will never away.

It’s better to fully know where the water level is before the water gets deeper“.
The Billionaire Lifestyle




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