Cash Management – Willowbrook
People frequently ask themselves, how can I bring in more money? Seldom will they recognize that proper cash management can go a long way to developing wealth. Most people have heard it before, right, a penny saved is a penny earned; well let's take a different view on that concept. Let's imagine, the less cash you have to earn the more you may make, and faster too. This is applicable to anyone in any business.
One of the best secrets we have discovered about millionaires is that they do not thoughtlessly spend away their bundle of money on frivolities. Spending generally comes after calculations. After carefully deducing the value, rivals prices/options, intrinsic value if any of owning the item, and timing. Only then is a purchase made. Much different compared to the wanton spending that is generally attributed to the rich!
These same ideas may and should be applied to your own personal accounts before any considerable considerations of creating excellent wealth can be made. GC Financial Advisors Ltd. challenge everybody that asks for financial advice to first and foremost gain absolute and exact control of their accounts and spending routines. For instance, how do 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 facts you must habitually know.
Once you have this knowledge, you can start to work on cutting expenditures, erasing all needless costs, and getting rid of as many monthly bills as you possibly can. This takes compromise, dedication, and honesty. The majority of us can live without a cable bill and certainly could use that extra cash. But how many do? For the individual truly determined to take action and learn how to make more money then these basic sacrifices are not too much to ask at all. In fact, it is just temporary.
The first major question you need to think about is, what is it I want most? If cash is your honest answer, then the next question to ask is, so 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 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 don't hesitate to contact us at any time and we'll be glad to help you!
