Cash Management – Glencoe
People typically ask themselves, how can I bring in more cash? Seldom do they recognize that proper cash management can go a long way to developing wealth. Everyone has heard it before, right, a penny saved is a penny earned; well let us take a different view on that principle. Let's say, the less cash you need 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 lot of money on frivolities. Spending generally comes after calculations. Right after very carefully deducing the value, competitors prices/options, intrinsic value if any of possessing the item, and timing. Only then is a purchase made. Very different than the wanton spending which is commonly attributed to the wealthy!
These same ideas can easily and must be applied to your very own accounts before any considerable considerations of amassing great prosperity can be made. GC Financial Advisors Ltd. challenge everyone that asks for financial advice to first and foremost gain absolute and precise control of their accounts and spending habits. For instance, how do you expect to gain financial ground if you can't even recite your present 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.
Once you have this information, you can begin to work on cutting expenditures, erasing all unnecessary costs, and removing as many regular bills as you possibly can. This takes sacrifice, dedication, and honesty. The majority of us can do without a cable bill and certainly could use that extra money. But how many do? For the person truly determined to take action and learn how to earn more money then these basic sacrifices aren't too much to ask at all. In fact, it is only temporary.
The first significant question you have 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 latest greatest smart-phone and data plan? Do I really need to buy prepared meals 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 information about cash management, regardless of your age, please do not hesitate to contact us at any time and we'll be glad to help you!
