A Simple System to Organize Your Finances

Managing money doesn’t have to be complicated. At Built Life Co., we believe in keeping it simple, automated, and effective. Here’s a step-by-step system to take full control of your finances without stress.

Step 1: Know Your Numbers

Before you improve, you need clarity. Track your income, expenses, savings, and debt.

  • Income: List all sources (job, side hustles, passive income).

  • Expenses: Identify needs (rent, food, bills) vs. wants (subscriptions, dining out).

  • Debt: Note all outstanding balances and interest rates.

  • Net Worth: Assets (savings, investments) minus liabilities (debt, loans).

Use apps like Mint, YNAB, or Personal Capital to make this easy.

Step 2: Use the 50/30/20 Budget Rule

A simple way to allocate your money:

  • 50% Needs: Rent, utilities, groceries, insurance.

  • 30% Wants: Entertainment, shopping, travel.

  • 20% Growth: Savings, investments, debt repayment.

Want to save more? Adjust to 40/20/40 for faster financial growth.

Step 3: Automate Everything

Set up automatic payments and transfers to make managing money effortless.

  • Direct deposit your paycheck into different accounts.

  • Auto-pay bills to avoid late fees.

  • Automate savings & investments so you never “forget.”

Banks like Chime, Ally, or SoFi help streamline this process.

Step 4: Build an Emergency Fund

Financial security starts with savings for unexpected events.

  • Goal: 3-6 months of expenses.

  • Best place: A high-yield savings account (HYSA).

  • How to start: Save small amounts consistently (even $10/week).

Step 5: Eliminate Debt

Debt keeps you stuck—prioritize paying it off.

  • High-Interest First: Use the Avalanche Method (tackle highest-interest debt first).

  • Small Wins First: Use the Snowball Method (pay smallest balance first for momentum).

  • Keep Credit Healthy: Pay on time, keep balances low, and avoid unnecessary loans.

Step 6: Multiply Your Money Through Business

Building a business is one of the most powerful ways to achieve financial freedom.

  • Start a Business: Identify a skill, service, or product you can monetize.

  • Scale Smartly: Focus on systems, automation, and delegation to maximize growth.

  • Reinvest Profits: Use business earnings to expand and create multiple income streams.

Other Ways to Grow Wealth

If entrepreneurship isn’t your path, here are additional ways to build financial stability:

  • 401(k) or IRA: Max out employer-matching contributions.

  • Index Funds & ETFs: Low-cost, long-term investments.

  • Side Income: Build passive income through rental properties or online businesses.

Use platforms like Wealth Simple or Questrade to get started.

Step 7: Review & Improve Monthly

Financial success is about small, consistent improvements.

  • Check your budget & spending to stay on track.

  • Review investments & net worth to measure growth.

  • Adjust goals & strategies as needed.

Final Thoughts

Money doesn’t have to be stressful. By following this super simple system—track, budget, automate, save, build a business, invest, and improve—you’ll build financial freedom with ease.

If any of these steps are not clear, sign up for a CONSULTATION CALL with us!

Which step will you start with today? Let us know in the comments! 🚀

-Mak J Parker