3c. List and explain three strategies of how to properly establish a sustainable SBRE Skills, Businesses, Resources and Emergency Fund for marriage and family?
1. Budgeting and Saving: One strategy is to create a budget that includes a specific amount of money allocated to skills development, business ventures, resource acquisition, and emergency funds. This means setting aside a certain percentage or fixed amount of income each month towards these purposes. By consistently saving and budgeting, couples can slowly build up their SBRE fund over time.
2. Diversifying Income Sources: Another strategy is to diversify sources of income to establish a sustainable SBRE fund. This can include starting a side business or pursuing additional skills or certifications that can lead to higher-paying job opportunities. By increasing the overall income of the household, couples can allocate more funds towards their SBRE goals.
3. Investing and Building Assets: Couples can also establish a sustainable SBRE fund by investing in assets that generate passive income or appreciate in value over time. This can include real estate investments, stocks, mutual funds, or even starting a small business. By strategically investing their money, couples can grow their SBRE fund and create a sustainable financial foundation for their marriage and family.
Overall, the key principles behind establishing a sustainable SBRE fund are disciplined saving and budgeting, diversifying income sources, and strategic investments. By following these strategies, couples can provide financial stability for their marriage and family, and have the necessary resources to invest in skills, businesses, and handle emergencies.