Smart’s Post

How much do you save from your salary every month? 50/30/20 is a great rule of thumb to follow if you’re just starting to take your finances seriously. The key to success though is to ‘invest’ the 20% not just ‘save’ it. Remember: always make sure your money is working for you and at the very least keeping pace with inflation. If you want help with where to invest, drop me a DM #saving #savingmoney #investing #paycheck

💼 Salary vs Dividends – What’s Best for Your Business Above £100K Profits? 💸 Running a successful business comes with big decisions, and one of the biggest is how to pay yourself. Salary or dividends? 🤔 💡 Do you know at what point salary becomes more tax-efficient than dividends? 🤔 Find out when each strategy works best and how it impacts your tax bill in our latest blog post – plus, check out the full comparison table! 👉 Read more to discover the answer: https://lnkd.in/e54EX8Ww #TaxPlanning #SalaryVsDividends #BusinessGrowth #TaxEfficiency #SmallBusiness #FinancialPlanning #KnowYourNumbers

Personal Finance Tip: "Paying yourself first’ means setting aside a portion of your salary/income that will be invested and put to work. Treat your investments like bills that you HAVE to pay every month. Do you always pay yourself first? Watch the full video here... https://lnkd.in/dbMPnvN9 #personalfinance #moneymindset #keepgoing

Do you receive bonus income or variable compensation? Consider automating savings around salary Then when lump sums hit, you can evaluate the best use of the money such as: - increase cash reserve - debt pay down - increase taxable investing - lifestyle enhancements From a cash flow perspective, starting with automating planned savings around salary allows for a baseline personal savings rate And logistically makes it easier to consider what to do when variable compensation hits Cash flow is life blood of your personal balance sheet

Do you receive bonus income or variable compensation? Consider automating savings around salary Then when lump sums hit, you can evaluate the best use of the money such as: - increase cash reserve - debt pay down - increase taxable investing - lifestyle enhancements From a cash flow perspective, starting with automating planned savings around salary allows for a baseline personal savings rate And logistically makes it easier to consider what to do when variable compensation hits Cash flow is life blood of your personal balance sheet

Maintain 3 bank accounts to keep finances simple; Salary Account: Once salary hits this account & transfer required funds to other accounts. Investment Account: All the investment related activity happens here. Spending Account: Use it for day to day expenses. Simple. Yet Effective!!

Aim for a 50/30/20 split: 50% living, 30% entertainment, 20% savings. 5 Ideas to Save Money from Your Salary 1) Create a budget. 2) Cut back on spending. 3) Use your savings to invest. 4) Stay debt-free. 5) Pay EMIs on time to avoid penalties. Wealth for your financial goals for just ₹500 per month. Start SIP now. #SIP #MARKET #INVEST #GOAL #Financial #planning #PROFIT #SAVE #SALARY

It’s Payday! Are you in the process of paying off debt? Are you paying more than the minimum on more than one debt? I want to remind you to stay focused on one balance at a time. Payday Tips ✍ In your budget, add an expense “Extra Debt Payment” (EDP) ✍ Set the extra funds available to your EDP ✍ Pay that extra amount towards ONE debt until it is paid off. When you split your extra funds, it delays your progress. This is the one time it is better to put all your “eggs” or extra into one basket. Purchase your Annual Budget Planner today to track your expenses for the rest of the year. Visit https://a.co/d/5rkFmUs Helping you make better financial decisions daily #budgettips #stewardship #personalfinance #financialfreedom #debtfree #GodFirst #ChristianLiving #PersonalDevelopment

Tip No.2 Relieve cash flow pressure!😟 Equity is often used to raise finance, but there is a flipside that the savvier business owners understand: equity can also be used to reduce the need for finance. Instead of depleting cash resources to pay people top rates and large bonuses, why not incentivise them via a share scheme? If done correctly the tax advantages are much more attractive than giving people an annual salary bump, or bonus. And that means you can preserve your bank balance. Get in touch if you want more information on how to incentivise your team via a share scheme get in touch https://buff.ly/3OI7uGl #etctax #shareschemes

Decide how much you want to save every month and the money will be transferred direct from your salary to your savings account - its as easy as that. https://lnkd.in/dpes265E