Budget Your Money To Financial Success – Budgeting 101 | Minority Mindset – Jaspreet Singh

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I’m Jaspreet Singh & I created Minority Mindset to motivate, teach, and inspire others to do what they want. While going to school and starting my businesses, I realized school is really good at teaching you to be an employee, but it doesn’t teach you to create value & it doesn’t teach you anything about financial literacy.

A community of hustlers and entrepreneurs; we are on a mission to motivate, teach, and inspire entrepreneurs and hustlers to be the best they can be, because average sucks. Only a minority of people will risk it all to make their dreams a reality – will you? #ThinkMinority
Entrepreneurs | Hustlers | Innovators | Investors

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Remember you cannot touch your savings money unless it is for an emergency. What you will notice is that eventually, your savings fund will get bigger and bigger. Once your savings fund is greater than 6 months of living expenses, you can start taking the surplus or extra money and start moving it into your investment fund.

Your investment fund will be making you money in addition to your job or your business. When you are young with little expenses, 100% of that money your money makes should go back into your investment fund. As you get older and have more expenses, you can take up to 50% of the money your money makes and use that as an addition to your living fund.

Remember, if you follow these steps, every month your investment fund will grow bigger so each month there will be more money working to make you money. And in the meantime, your savings account will grow big enough where the money you would put in the savings fund can be allocated to the investment fund.

And it get’s even better. As as your investment fund grows, you won’t need to take as much of the profits because there is more money working for you. 10% of $1000 is $100, but 10% of $10,000 is $1000. So if you continue to live below your means, that will give you even more money to re-invest. This is called the snowball effect.
I know the steps I laid out are not easy, but they work and I use them. Be sure to subscribe

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Based in Detroit. #Punjab
Jaspreet Singh

DISCLAIMER: This description may contain links from our affiliates, sponsors, and partners. If you use these products, we will get compensated – but there’s no additional cost to you.

DISCLAIMER CONT’D: I’m just a random guy on YouTube – do your own research! Jaspreet Singh is not a licensed financial advisor. He is a licensed attorney, but is he is not providing you with legal advice in these videos. This video, the topics discussed, and ideas presented are Jaspreet’s opinions and presented for entertainment purposes only. The information presented should not be construed as financial or legal advice. Always do your own due diligence.

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