The Four Financial Food Groups

Money and food – so many parallels in my corner of the world…

Women who struggle with overeating often express concerns about their ability to handle money, no matter how much they have or make.

That’s why I invited Kara Rasmussen*, a money manager and coach for service business entrepreneurs, to teach us about the Four Financial Food Groups, a brilliant tool for making money simple.

Kara generously offered to teach us a LIVE, FREE class this Monday @2pm EST /11am PST/ 1pm CST – email me here and I’ll send you all the details!

Money and Time are resources that feed all the other elements in our personal and business lives. If we ignore our money, or have negative feelings towards money, it impacts all elements of our lives (home, health, career, family, fun, and spirit).

Often the easiest and fastest way to fix an issue in one of these elements is to sprinkle a little money on top.  If we are unsatisfied with our home; upgrade.  If we are struggling to connect with our family; go on vacation.

Money is the most frequently used resource for improving all the elements in our lives, yet most of us do not know the best ways to protect, honor and secure our finances.

My biggest delight is teaching someone all the steps to authentically achieve Financial Security.  I am crazy lucky to share in the private successes of people who have paid off their $85K in student loans, insured jewelry right before it was stolen, become first-time millionaires, and bravely took the leap to business ownership exceeding their prior salaries.

These success stories use one of the most critical and easiest ways to wrangle and purpose their money; The 4 Bank Account System.  This simple tool has made an instrumental difference in how fast they payoff their student loans to saving an emergency fund to pay for an unexpected brain surgery.

It starts with dividing your paycheck or business distribution into 4 bank accounts:  Machine, Discretionary, Emergency and BWM.

The Machine Account pays for all your fixed and recurring expenses (your mortgage, gym membership, and car insurance) as well as transferring monthly to your other 3 accounts (Discretionary, Emergency, and BMW).  You bring your Machine account down to your minimum balance comfort zone each month and purpose every dollar.

When you have an Emergency (and you will), you pay for the expense with the Emergency account.  The Emergency then does not impact your mortgage payment or your Discretionary spending for the month.

You always know exactly how much Discretionary surplus you have, because it is not mixed-in with fixed household expenses.

The final account, your BMW account, stands for Big Major Wants (like a BMW).  These are things you save-up for each month.  Through your Machine account, you transfer funds each month to the BMW account. When you have saved-up enough to go on vacation, purchase a new car or a down payment on a home, you do it with complete clarity knowing it is not negatively impacting your fixed expenses, your monthly Discretionary, or an Emergency that will come along.

The first step to financial clarity and understanding, is knowing exactly how much money you have to feed the other elements in life (home, health, career, family, fun, and spirit).  If you pay for Discretionary transactions with several credit cards and bank accounts, you will struggle to have clarity.  If you pay for Emergencies with a credit card, or with the same bank account as your mortgage payment, the impact will be unclear.  By purposing your money into 4 bank accounts, you will have completed one of the most powerful and impactful actions in securing your finances.

I love this! Remember to email me if you want to join Kara’s free class just for us this Monday @2pm EST /11am PST/ 1pm CST – email me here and I’ll send you all the details!

*Kara Rasmussen is a money manager and coach for service business entrepreneurs.  She creates positive and lasting financial life changes.  She uses your unique strengths to customize and plan an authentic financially secure future. Please see her website to learn more www.