Cash Management – Bedford Park
Folks typically ask themselves, how can I bring in more money? Hardly ever do they realize that proper cash management can go a long way to creating wealth. Most people have heard it before, right, a penny saved is a penny earned; well let's take a different view on that concept. Let's imagine, the less money you need to earn the more you can make, and quicker too. This applies to anyone in any business.
One of the best secrets we have discovered about millionaires is that they don't thoughtlessly spend away their bundle of money on frivolities. Spending generally comes after calculation. Right after carefully deducing the value, rivals prices/options, intrinsic value if any of having the item, and timing. Only then is a purchase made. Very different than the wanton spending which can be commonly attributed to the wealthy!
These same concepts could and should be applied to your own personal accounts before any serious considerations of creating great wealth can be made. GC Financial Advisors Ltd. challenge everybody that asks for financial advice to first and foremost gain absolute and exact control over their accounts and spending practices. For instance, how do you expect to gain financial ground if you can't even recite your current available checking balance? Or even tell us what, exactly, your monthly bills total? These are generally two of the most basic examples of facts you must habitually know.
After you have this knowledge, you can begin to work on trimming expenses, erasing all unneeded costs, and getting rid of as many regular bills as possible. This takes compromise, dedication, and honesty. Most of us can do without a cable bill and definitely could use that extra cash. Yet how many do? For the individual genuinely determined to take action and learn how to make more money then these straightforward sacrifices are not too much to ask at all. In fact, it is only temporary.
The very first big question you need to ask yourself is, what is it I would like most? If cash is your honest answer, then the next question to ask is, so what can I do without? Do I really need the latest greatest smart-phone and data plan? Do I really need to buy prepared food or can I buy more food and cook it myself at home? Do I really need to buy that 12 pack on Friday and watch cable all weekend?
For more info about cash management, regardless of your age, please do not hesitate to contact us at any time and we will be glad to help you!
