Strategic Planning: Your Closed Circle Budget and Cash Flow
Every home must be built on a solid foundation and your Closed Circle is your FINANCIAL FOUNDATION!
What is a Closed Circle Budget? A Closed Circle Budget is a fixed budget as opposed to an Open Circle Budget which is ever expanding, meaning the more income you make, the more you spend.
The Closed Circle Budget consists of the following:
- Obligations such as your mortgage, debt servicing and insurance
- Necessities such as food, home repairs, medical prescription and recreation
- Wants such as furniture, home renovation, vacation and savings
Having a Closed Circle is a great way of taking good care of what has been given to you. And when you take good care of what has been given to you, you will receive more to take care of! You will have abundance and overflow which can be used to pay off debt, give to charity and many other things that will help you achieve your goals!
Are you interested in setting up a Closed Circle Budget but don’t know where to start? Contact us at KD and will be happy to help you!