Millennial Margin was formed to provide people with a unique approach to personal finance through the strategic building of Margin. Margin is the space outside the chaos and in a society that continues to push an agenda of a fast-paced, high stress, low satisfaction environment, Margin is ever-so-missing. So what's the solution? The solution is to focus on what adds the most value to you specifically, not wanting what others have just for the sake of wanting what others have. Instead finding contentment in simplifying life through a process I call audit, automate, augment. This allows you to see what you specifically want, where you are and where you want to be, backing that out into actionable steps. Those steps are then automated and scaled. Personal finance is well personal, so Margin focuses on building momentum through monthly themes broken down into weekly series and further into daily episodes focusing on you. Allowing for a positive compound effect to set in allowing you to truly gain control of your personal finances therefore, building intentional Margin into life. I am thankful to be a part of your journey and hope that you find this resource transformational. Now let's build some Margin!!
--Jared
Goal/Disclaimer: My goal with [Margin] is to prepare you with the knowledge but then inspire you to act on that knowledge. My goal is to be in your corner bridging the gap between your trusted CPA, attorney, and financial planner. My advice is simply from my own personal experiences and is not meant to override or replace professional advice from your trusted investment professional. The content found here is for entertainment purposes only.
All content for Financial Margin is the property of Jared Humphries and is served directly from their servers
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Millennial Margin was formed to provide people with a unique approach to personal finance through the strategic building of Margin. Margin is the space outside the chaos and in a society that continues to push an agenda of a fast-paced, high stress, low satisfaction environment, Margin is ever-so-missing. So what's the solution? The solution is to focus on what adds the most value to you specifically, not wanting what others have just for the sake of wanting what others have. Instead finding contentment in simplifying life through a process I call audit, automate, augment. This allows you to see what you specifically want, where you are and where you want to be, backing that out into actionable steps. Those steps are then automated and scaled. Personal finance is well personal, so Margin focuses on building momentum through monthly themes broken down into weekly series and further into daily episodes focusing on you. Allowing for a positive compound effect to set in allowing you to truly gain control of your personal finances therefore, building intentional Margin into life. I am thankful to be a part of your journey and hope that you find this resource transformational. Now let's build some Margin!!
--Jared
Goal/Disclaimer: My goal with [Margin] is to prepare you with the knowledge but then inspire you to act on that knowledge. My goal is to be in your corner bridging the gap between your trusted CPA, attorney, and financial planner. My advice is simply from my own personal experiences and is not meant to override or replace professional advice from your trusted investment professional. The content found here is for entertainment purposes only.
Now that you have shown gratitude for what has happened in the past, let’s look forward. Looking forward into the next year can give you a glimpse of hope or it can be a bit daunting. We must always have something to look forward to, to work toward, or to even be excited about.
Gratitude should be something that you do daily as it gives you the ability to reflect in real-time, see all that you have, take your eyes off who you may be comparing yourself to, or what you may not have, and truly be grateful for what you do.
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Jared created Millennial Margin out of necessity, as he has watched countless people schedule-away, mortgage-up, and max-out their lives. Margin is simply the antithesis, providing leeway in an increasingly margin-less culture.
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Steady consistent giving is key to your financial picture. Let’s put that steady plan from last episode to action. So let’s say that you have defined what events merit a gift, you have specified who you plan to give to, how often and how much you will give in the form of other planned and spontaneous giving opportunities. Now what? It’s now time to put this plan into action.
Goal/Disclaimer: My goal with [Margin] is to prepare you with the knowledge but then inspire you to act on that knowledge. My goal is to be in your corner bridging the gap between your trusted CPA, attorney, and financial planner. My advice is simply from my own personal experiences and is not meant to override or replace professional advice from your trusted investment professional. The content found here is for entertainment purposes only.
I don’t know about you, but for me it is so easy to get into a rhythm whereas I have good intentions to be a giving person and even have viable giving opportunities, but then get distracted with all the other demands of life. I think this is why giving is so important, especially setting up a rhythm for giving. It’s easy to miss the opportunity if you’re always running from one thing to the next. This is why it’s so important to stop and figure out what rhythm you need to set up, so that you slow down, see the needs around you, figure out how you need to be involved and then take action. This will give you the ability to put life back in perspective, realizing what’s important.
When giving back, you need to identify who or what is your best means of giving back. Is it something that pulls at you like an orphanage, animal shelter, or preservation society? Is it a mission-based organization that sends missionaries to other parts of the world? This is the part that can be so difficult because there are always so many needs to give to.
Most people walk through life with no plan, except putting one foot in front of the other. Don’t be that person. Be resolute in building a financial plan for where your money will come from and what you plan to do with it.
When we have gone through the process of building a Plan to Spend or budget there was a line item designated to giving. Oftentimes people give when the dust settles and they see what is leftover, but you don’t want to wait until this point in order to have a plan and follow through on it in order to give to what matters most to you.
When we have gone through the process of building a Plan to Spend or budget there was a line item designated to giving. Oftentimes people give when the dust settles and they see what is leftover, but you don’t want to wait until this point in order to have a plan and follow through on it in order to give to what matters most to you.
The U.S. tops the charts in regards to substance abuse, prescription medication use, mental health issues, amongst a number of other aspects. Why is this the case though, especially being such an affluent nation that you would think has far less to worry about than a developing nation?
Looking back on the theme of what's essential, I outlined the importance of what was essential in your home, food, clothing, transportation, health, healthcare, finances and resulting budget. In each of these areas, it’s important to identify what is most important to you then focus your efforts on those aspects that add the most value. What you will find is that there are a lot fewer purchases that really matter to you than you thought. Once you can narrow your purchases to only that which matters, you won’t be sacrificing your lifestyle, but will end up saving money that can then be relocated.
The place that you live whether rented or owned–is it more than you need or even want? As in, is the payment, maintenance, repairs, cleaning, utilities, and household goods reasonable or are you constantly pulled away from what’s really important to you because of the needs of your dwelling? Have you ever thought about the seasonality of owning your home based on your marital status, number of dependents, your business or job stability, how long you will be in that specific location, and whether that space is appropriate based on where you are financially.
In every commercial flight you have taken, the flight attendant will remind you of the importance of putting on your oxygen mask first, before assisting others in the event of a loss of pressurization in the cabin. However, how many of us don’t apply this to other aspects of life as well in taking care of our own basic needs before feeling like we need to help someone else. It can be a means of
self-sacrifice to others, which although can be a great trait, can and will be detrimental to our long-term well-being.
We have been prepositioned to focus on ourselves first and therefore, can oftentimes get stuck in investing into our own worlds, leaving little to be generous with. Many have been told that they can’t afford something rather than how they can afford something. So they continue spending based upon what’s coming in the door, prioritizing their needs, but not looking at ways to create margin in order to be more generous.
The lifestyle you choose to live can greatly change the resulting margin in your personal finances. Point in case, even if you make good money, you can spend your money to buy things on credit that will make you look rich and still be no better off or wealthier than your neighbor.Social media platforms have provided the ability for all of us to show our highlight reels, and many use that as an opportunity to present themselves a certain way, when in reality it does not necessarily resemble aspects of someone's actual life, beauty, and wealth.
If you already own a vehicle, it’s important to look at what you own and know the book and market value of that vehicle. This means knowing what the value is through resources like kbb.com and nada.com as well as what your vehicle is actually selling for. Now you may see this as unnecessary unless you were planning to replace it, but reviewing this at least once a year will allow you to have a better active knowledge of what your vehicle is worth.
Once you have gone through the process of budgeting based upon what is coming in in the form of income and what is going back out in the form of expenses and savings otherwise. You may be trying to figure out what needs to come next, especially if you feel like you have more month than money and that you living paycheck to paycheck.
Saving comes in many different forms and going through the process of doing so build’s in discipline in order for you to save for a gift or contribution otherwise. Figuring out what you are saving for and how much will be applied to where, will be important in being able to both save for those aspects that matter most to you as well as give to those causes, organizations, or people that you want to have the greatest impact on.
Developing and maintaining a financial plan is pivotal to your financial success, so looking back over the last 11 themes, I wanted to compile key takeaways that will help you in that process. This will help make sure that you have a rhythm for the key components of your personal finances leading up to being able to be more generous.
The purpose of going through 12-themes over a period of twelve months is to transform your personal finances step by step. Now the transformation process should help you to ensure that both the defense and offense of your finances are addressed. You cannot just focus on living within your means, paying off debt, and saving, while not also investing, increasing your income and growing in your applied knowledge. This, in-turn, will create margin. Margin to then decide how you want to give back.
In this theme on insurance and legacy we have covered various types of insurance policies to protect you and your loved ones, how to build up and store critical documentation, as well as thinking through your legacy from the standpoint of setting a vision, benchmarks, and goals as well as ensuring your habits support each of these.
Millennial Margin was formed to provide people with a unique approach to personal finance through the strategic building of Margin. Margin is the space outside the chaos and in a society that continues to push an agenda of a fast-paced, high stress, low satisfaction environment, Margin is ever-so-missing. So what's the solution? The solution is to focus on what adds the most value to you specifically, not wanting what others have just for the sake of wanting what others have. Instead finding contentment in simplifying life through a process I call audit, automate, augment. This allows you to see what you specifically want, where you are and where you want to be, backing that out into actionable steps. Those steps are then automated and scaled. Personal finance is well personal, so Margin focuses on building momentum through monthly themes broken down into weekly series and further into daily episodes focusing on you. Allowing for a positive compound effect to set in allowing you to truly gain control of your personal finances therefore, building intentional Margin into life. I am thankful to be a part of your journey and hope that you find this resource transformational. Now let's build some Margin!!
--Jared
Goal/Disclaimer: My goal with [Margin] is to prepare you with the knowledge but then inspire you to act on that knowledge. My goal is to be in your corner bridging the gap between your trusted CPA, attorney, and financial planner. My advice is simply from my own personal experiences and is not meant to override or replace professional advice from your trusted investment professional. The content found here is for entertainment purposes only.
