Managing Money with Purpose
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About this ebook
Your money is your responsibility, but do you understand the purpose of your money? Time and experience has taught me, where there is no clear direction money chooses its own path without consulting its owner. However; when one establishes a clearly defined purpose for money it brings to its owner increased wealth. As such it's important that each person understand the purpose of their money as it places them in the best position to manage it successfully.
The ability to change your financial future resides in you making better financial decisions today. To get there though you need to be educated on how to spend and manage your money. This book presents a practical guide to help you; the single parent, young adult, university student, mother, father, grandparent, entrepreneur to manage your income better.
By reading this book you will find some simple disciplines required to move you to that position of being financially independent and no longer dependent. The key to unlock this door is in making better choices and understanding that your income has a purpose.
As an accountant working for companies both in the public and private sector of Trinidad and Tobago. I have experienced firsthand many of the issues, challenges, risk and opportunities businesses and individuals face daily as it pertains to many types of decisions including financial decisions.
The mission of this book is to educate as many persons and businesses in understanding the essential need and importance of preparing and following a budget.
Junior C.A Pedro FCCA
Junior C.A Pedro, FCCA is the founder and Managing Director of JC Solutions Caribbean Limited a company that provides Consultancy, Accounting and Training services to enable organizations improve their operational efficiency and performance.Junior is a qualified Chartered Accountant with over fourteen years experience in various organizations within the public and private sector. At present he is a member of the Association of Certified Chartered Accountants (ACCA) and holds a Post Graduate Diploma in Project Management from Henley.
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Managing Money with Purpose - Junior C.A Pedro FCCA
Managing Money with Purpose
By: Junior C.A Pedro, FCCA
Author: Junior C.A Pedro FCCA
Email: juniorpedro@yahoo.com
Copyright © 2014 by: Junior C.A Pedro
ALL RIGHTS RESERVED
Any unauthorized reprint or use of this material is prohibited. No part of this book may be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopying, recording, or by any information storage and retrieval system without express written permission from the author.
TABLE OF CONTENTS
Preface
Glossary of Terms
Introduction
Chapter 1: Self-Assessment
Chapter 2: Assessing your net worth
Chapter 3: Surplus or Deficit
Chapter 4: Self-Assessment Review
Chapter 5: The Plan
Chapter 6: Financial Plan
Chapter 7: Budget
Chapter 8: Budgeting with purpose
Chapter 9: Reasons Budgets Fail
Chapter 10: Benefits of Budgeting
Conclusion
Examples of Assets
Examples of Liabilities
About the Author
Preface
Thanks be to God for the knowledge and inspiration to write this book. It is an honour and privilege to be chosen by Him to provide information to those people who desire to become better financial stewards. Secondly, I extend heartfelt appreciation and thanks to my pastor Apostle Dr. Dexter James for granting me the opportunity to co-author the book, Common Sense Approach to Increase
, my initiation into writing. I also like to acknowledge Edson Eastmond who gave freely of his time and expertise to edit the text and provide valuable comments.
The idea for this book came from a presentation I did at a conference in St. Marteen in 2013. The conference’s theme Money Meets Purpose
gave me the inspiration to start writing. God created each one of us with a specific purpose. The word of God says in Jeremiah 1:5 Before I formed thee in the belly I knew thee; and before thou camest forth out of the womb I sanctified thee, and I ordained thee a prophet unto the nations.
(KJV)
I have experienced firsthand many of the issues, challenges, risk and opportunities businesses and individuals face daily as it pertains to many types of decisions including financial decisions. We all want to grow, improve and be successful but many of us struggle with managing our cash efficiently. Most individuals