Cash Management – Skokie
Individuals often ask themselves, how can I bring in more money? Not often will they realize that proper cash management can go a long way to building wealth. We have all heard it before, right, a penny saved is a penny earned; well let's take a different view on that concept. Let's say, the less money you need to earn the more you can make, and faster too. This applies to anyone in almost any business venture.
One of the biggest secrets we've discovered about millionaires is they do not without thought spend away their lot of money on frivolities. Spending always comes after calculation. 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. Very different compared to the wanton spending which is commonly associated with the rich!
These same concepts can easily and must be applied to your own personal accounts before any serious considerations of creating excellent wealth 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 routines. For example, how can 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 two of the most basic examples of facts you must habitually know.
After you have this knowledge, you can begin to work on cutting expenses, erasing all unnecessary costs, and getting rid of as many regular bills as possible. This takes compromise, dedication, and honesty. The majority of us can live without a cable bill and definitely could use that extra money. But how many do? For the person really motivated to take action and learn how to make more money then these simple sacrifices aren't too much to ask at all. After all, it is just temporary.
The first major question you have to think about is, what is it I would like most? If money is your honest answer, then the next question to ask is, what can I live without? Do I really need the latest greatest smart-phone and data plan? Do I really need to purchase prepared food or could I buy 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 info 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!
