Day 5: Tracking Spending Habits Activity: Analyze your spending behavior to find patterns that either support or hinder your financial goals. Task: Review last week's expenses and note any recurring, non-essential purchases. Reflect on whether these align with your goal of becoming debt-free and building an emergency fund. Journal Tracker: 1. What spending habits have you identified that might be holding you back? Food is the most expensive part of my monthly expenses. I must find a way to prepare my food in a less costly manner by planting some vegetables in my backyard. I have already stopped going to fancy restaurants, so whatever is left from my overall expenses, such as loan payment, groceries, and food will be redirected to emergency fund. 2. How can you change or control these habits to improve your finances? I try to avoid watching those ads on social media, so I will not get tempted to shop online and visit restaurants. Instructions: I know it is hard to control a bad habit, but I believe habits are formed. Controlling my eating habits is the first step towards reaching my financial goal. It does not only make my wallet fat, it helps me maintain my ideal weight.

Day 5: Tracking Spending Habits Activity: Analyze your spending behavior and identify patterns that align with or derail your financial goals. Task: Review your past week's expenses and take note of any recurring unnecessary purchases. Reflect on whether these align with your financial goals. Journal Tracker: Answer the following: What spending habits have you identified that might be holding you back? How can you change or control these habits to improve your finances? Instructions: Be honest with yourself about any habits you’d like to change. Write down a small, realistic goal to improve your spending habits over the next week, like avoiding certain shops or setting limits on dining out

Cutting costs is always important for keeping your money and living without worry of homelessness or ruin. But you always need more money if you want to be free. Your job may be the thing paying the highest from all the other investments but like I said before, the more streams of income the more freedom you have. Why is that? Imagine you wake up tomorrow and you find you are paralyzed or even learn you have cancer. Terrible stuff, now when your job stops being your main source of income what else can you rely on? For many people who have lost their jobs for medical reasons or other reasons they struggle to make ends meet. Even full time workers with a healthy body and a good job may be living paycheck to paycheck, just one accident away from going under. So what do you do? You invest. From CDs, High yield accounts, Stocks, rental homes, funds, bonds, and more. Investing is what lightens your financial burden of your job and even improves your finances. So what is there? Loads of stuff but the main ones I want to talk about are 1:Accounts(CDs, HYSA, etc.), 2: volatile options(stocks, crypto, startups, etc.), 3:Low risk options(bonds, funds, land/homes, etc), and 4?: Private investments. For #1 I already talked on the options like CDs and HYSA. But there are other accounts out there that can make you money like the aforementioned accounts. Those being trust and life insurance. How? Gross oversimplification on trusts: Irrevocable trusts are for kith and kin(friends and family) that will around forever. Revocable trusts are for when the Grantor(person who made the trust and puts assets into it.) still loves but will move their assets to another without probate taxes. (AKA parents want to pass down the house while they still live without having to pay massive taxes.) So how can a trust earn money? Generally a Revocable trust that is set up correct to take loans out can have their Re:Trust act as a loose definition of a bank. Meaning the Benefactor(Person who the trust befits from.) who should be you can take a loan out from the Re:Trust and purchase more assets, land, houses, or businesses. So how do you set it up? Grantor(Trust maker and one who adds to the trust) needs to be you. Benefactor(Who the trust goes to when Grantor dies or is sick) needs to be you to ask for the loan. The Trustee(Trust manager/accountant) cannot be you for the loan to work, you need to either get in a company or special person who will authorize and be the one to give you the loan. you do need to have the paperwork for the RE:Trust to actually have the ability to loan out, but you can also set your own rates as the Grantor.

Day 3: Identifying Needs vs. Wants Activity: Recognize the difference between needs (essential expenses) and wants (non-essential expenses) to help prioritize spending. Task: List your recent purchases and categorize each as a "need" or "want." Identify how much you spend on each type. Journal Tracker: Answer the following: 1. Are there any "wants" that you regret spending money on? Yes, I bought a dress which I think looks good on me. But it was too late to realize that it doesn't fit on my body. 2. Could you redirect money from “wants” towards your financial goals? Yeah sure, redirecting wants towards my financial goal will help me free from financial woes. I must set aside money to pay off my loan and save up for emergencies. Instructions: Reflect on the importance of balancing enjoyment with responsibility. Consider the personal benefits of mindful spending and jot down a few spending priorities that will keep you motivated. Spending Priorities: 1. I'll see to it that I'll set aside money to pay off my monthly amortization of 40USD. 2. I'll allocate money for my groceries and food, sticking to buying healthy and organic farm produce. 3. I'll prepare cooking my food and control my appetite for restaurant meals. Note: I am a foodie 😄 4. Pay bills on time to avoid surcharges.

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