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3 Things to Do with Your Money

3 Things to Do with Your Money

July 20, 2022
When you really boil it down, there are only 3 things you can do with your money:
  1. Spend It
  2. Save It
  3. Give It Away
No matter what your situation, it is ALWAYS good to Plan with a Purpose!

1. Spend It - if you have an inheritance, or maybe just want to start a good budget its important to know what and how much you're spending!
We encourage our clients to have a percentage in mind of what they will spend when they receive a large sum of money. Maybe its a bonus, an inheritance, or a lucrative sale of your home or investment.  Have a plan, feel great about spending that portion, and then know what you're doing with the rest.

2. Save It - you may be a great saver, or maybe you've never heard of the concept ;) either way, its an important part of any plan. Again, we encourage our clients to set a percentage aside as an emergency fund and then in addition, save what you can to prepare for those big purchases or events you know may be coming.

3. Give It Away - it feels good to do something nice for someone else, which is why we believe having a charity or organization that you can donate to actual helps with your financial health. Going back to the inheritance situation, giving some of it away can make a BIG impact for someone else and with the right plan and percentages, you know what you have left for fun money or savings. 

No matter what you do with your money, we at JWM believe its important to have a plan and stick to it - which is why you'll find us Directing Wealth For a Purpose.