Cash Management – Brookfield
Folks frequently ask themselves, how can I make more money? Not often will they realize that proper cash management can go a long way to building money. We have all heard it before, right, a penny saved is a penny earned; well let's take a different perspective on that idea. Let's say, the less money you have to earn the more you may make, and quicker too. This applies to anyone in almost any business.
One of the best secrets we've discovered about millionaires is that they do not thoughtlessly spend away their bundle of money on frivolities. Spending always comes after calculations. Right after very carefully deducing the value, competitors prices/options, intrinsic value if any of having the item, and timing. Solely then is a purchase made. Much different than the wanton spending which is commonly attributed to the rich!
These same ideas could and should be applied to your very own accounts before any serious considerations of amassing excellent wealth can be made. GC Financial Advisors Ltd. challenge everybody that asks for financial advice to first and foremost gain absolute and precise control over their accounts and spending behaviors. For example, how do you expect to gain financial ground if you can't even recite your current available checking balance? Or tell us what, precisely, your monthly bills total? These are 2 of the most basic types of facts you must habitually know.
After you have this knowledge, you can start to work on cutting expenditures, erasing all unneeded costs, and removing as many monthly bills as possible. This takes compromise, commitment, and honesty. Most of us can do without a cable bill and certainly could use that extra cash. But how many do? For the person genuinely determined to take action and learn how to earn more money then these basic sacrifices aren't too much to ask at all. After all, it is just temporary.
The first big question you have to ask yourself is, what is it I want most? If money is your genuine answer, then the next question to ask is, what can I do without? Do I really need the latest greatest smart-phone and data plan? Do I really need to purchase prepared food or could I purchase more food items and cook it myself at home? Do I really need to purchase that 12 pack on Friday and watch cable all weekend?
For more details about cash management, regardless of your age, please don't hesitate to contact us at any time and we will be happy to help you!
