Cash Management – Eola
People typically ask themselves, how can I bring in more money? Rarely will they recognize that proper cash management can go a long way to building money. We've all heard it before, right, a penny saved is a penny earned; well let's take a different perspective on that concept. Let's imagine, the less cash you need to earn the more you may make, and quicker too. This is applicable to anybody in almost any business.
One of the biggest secrets we have discovered about millionaires is they don't thoughtlessly spend away their bundle of money on frivolities. Spending generally comes after calculation. Right after very carefully deducing the value, rivals prices/options, intrinsic value if any of owning the item, and timing. Solely then is a purchase made. Very different than the wanton spending that is commonly attributed to the rich!
These same ideas can and must be applied to your very own accounts before any serious considerations of amassing excellent prosperity can be made. GC Financial Advisors Ltd. challenge everybody that asks for financial advice to first and foremost gain absolute and exact power over their accounts and spending routines. For instance, how can you expect to gain financial ground if you can't even recite your current available checking balance? Or tell us what, exactly, your monthly bills total? These are generally two of the most basic types of information you must constantly know.
After you have this information, you can begin to work on cutting expenses, erasing all unneeded costs, and removing as many monthly bills as possible. This takes sacrifice, commitment, and honesty. The majority of us can do without a cable bill and definitely could use that extra cash. Yet how many do? For the person really determined to take action and learn how to earn more money then these basic sacrifices are not too much to ask at all. In fact, it is just temporary.
The very first significant question you need to ask yourself is, what is it I want most? If money is your genuine 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 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'll be happy to help you!
