Building a Money System

This will help you, whether you are trying to get your savings going to be able to buy a house, or if you are about to buy a house and just need to have a tighter grip on your money.

I’m not going to lie – sometimes we have to get in the nitty, gritty details of what you spend, and where to be able to make improvements.

But what I really do believe is that for the majority of people building a money system is a much more practical and sustainable way of managing money rather than reconciling every cent in a budget monthly.

A budget brings me visions of downloading bank statements and ticking off and analysing all the transactions.

So what’s the key thing with building a money system compared to a budget.

SIMPLICITY.

A money system should be simple. The key to its simplicity is setting it up right in the first place. Then reviewing it annually (or more regularly if life changes).

Ultimately if we have the context right, and we align our spending plan to that context we should need to analyse all the transactions all the time once it’s setup.

Don’t get me wrong, it still does involve an element of discipline – a money system won’t fix everything but problems will become obvious quickly.

Through this set of videos, we will break down how to build a simple, yet effective money system.

By using a money system like this, you’ll put yourself in the best position to get a home loan – firstly as you’ll be aware of your money, and your ability to save, and secondly, be able to show a clean set of bank statements to the banks.