Cash Management – Wood Dale
People frequently ask themselves, how can I earn more money? Hardly ever do they recognize that proper cash management can go a long way to developing wealth. We have all heard it before, right, a penny saved is a penny earned; well let's take a different view on that principle. Let's imagine, the less cash you need to earn the more you may make, and faster too. This applies to anyone in any business venture.
One of the biggest secrets we've discovered about millionaires is they don't without thought spend away their lot of money on frivolities. Spending generally comes after calculations. After very carefully deducing the value, competitors prices/options, intrinsic value if any of owning the item, and timing. Solely then is a purchase made. Much different than the wanton spending which is commonly attributed to the wealthy!
These same principles can easily and must be applied to your own personal accounts before any serious considerations of amassing fantastic 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 habits. For instance, how do you expect to gain financial ground if you cannot even recite your present available checking balance? Or tell us what, precisely, your monthly bills total? These are generally two of the most basic types of information you must habitually know.
Once you have this information, you can start to work on cutting expenses, erasing all unnecessary costs, and getting rid of as many regular bills as you possibly can. This takes compromise, commitment, and honesty. Many of us can live without a cable bill and definitely could use that extra cash. But how many do? For the individual really motivated to take action and learn how to make more money then these simple sacrifices are not too much to ask at all. After all, it is just temporary.
The very first big 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, 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 purchase more food items and cook it myself at home? Do I really need to purchase that twelve 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 happy to help you!
