Cash Management – Carol Stream
Individuals often ask themselves, how can I earn more money? Rarely will they recognize that proper cash management can go a long way to creating money. Everyone has heard it before, right, a penny saved is a penny earned; well let's take a different view on that idea. Let's say, the less money you need to earn the more you can make, and quicker too. This is applicable to anyone in almost any business venture.
One of the best secrets we have discovered about millionaires is they do not without thought spend away their bundle of money on frivolities. Spending always comes after calculation. Right after carefully deducing the value, rivals prices/options, intrinsic value if any of possessing the item, and timing. Solely then is a purchase made. Very different than the wanton spending that is generally associated with the wealthy!
These same ideas can and must be applied to your very own accounts before any considerable considerations of amassing great 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 routines. For example, how do you expect to gain financial ground if you can't even recite your current available checking balance? Or even tell us what, precisely, your monthly bills total? These are 2 of the most basic examples of information you must habitually know.
After you have this knowledge, you can start to work on trimming expenses, erasing all unnecessary costs, and getting rid of as many regular bills as you possibly can. This takes sacrifice, commitment, and honesty. The majority of us can do without a cable bill and definitely could use that extra money. Yet how many do? For the person truly motivated to take action and learn how to make more money then these basic sacrifices are not too much to ask at all. After all, it is just temporary.
The very first big question you need to think about 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 newest greatest smart-phone and data plan? Do I really need to purchase prepared meals 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 do not hesitate to contact us at any time and we will be glad to help you!
