The fundamentals

James explains in this video how to put the fundamentals in place:

– Goal setting (What’s important for you and your family?)
– Budgeting
– Stage 1 Investing (Stage 2 will be visited in the Go Getter level)
– Monthly habits
– Consider insurances (Life insurance and critical illness)

Goal Setting

This can be difficult, but don’t worry, we can build this together with you, taking small steps.

Your goal might be to:

– Increase cash in the bank
– Get out of debt
– Choose a retirement age
– Create a property portfolio
– Build a business or invest in another
– Start investing

It’s also an idea to create short, medium, and longer-term goals, over 1, 3 and 10 years. You can create more than one goal too, but try not to make too many; 1-4 goals will work best.

Once you’ve set these goals, write them down and visualise them regularly, and share them with people you trust. We’d love to support you with achieving your goals, so you can email it to us at info@prinden.com and we’ll add this to your file and check in with you.

Budgeting

Unfortunately, the default with most people is to spend first and save what’s leftover. Let’s switch that for you, by saving first, which will reduce worry and overwhelm at the end of the month.

We have a printable PDF for you to use, to track your outgoings, including the following:

– Rent

– Utilities

– Schooling

– Vacations

– Food (groceries and going out)

Completing this document will help to improve your lifestyle and help you feel more in control.

PRINDEN Where Does It Go Sheet

Watch the video to explain more about budgeting:

Level 1 Investing

Once you’ve identified your goals, created your budget, and know how much you have available to invest, our Stage 1 Investing plan will help you start out your investment portfolio.

It’s important to automate this out of your bank account as soon as you’re paid on the same day each month, so you’re not tempted to spend it and go over budget.

You’ll receive a monthly ‘Financial Freedom’ statement from Prinden to give you full clarity on how much you have saved and where you are on your wealth journey.