Cash Management – Elmwood Park, Illinois
Folks typically ask themselves, how can I make more money? Rarely do they recognize that proper cash management can go a long way to creating wealth. We've 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 may make, and quicker too. This applies to anybody in almost any business.
One of the biggest secrets we have discovered about millionaires is they do not thoughtlessly spend away their fortune on frivolities. Spending generally comes after calculation. After carefully deducing the value, competitors prices/options, intrinsic value if any of owning the item, and timing. Solely then is a purchase made. Very different than the wanton spending which can be commonly attributed to the wealthy!
These same ideas could and should be applied to your very own accounts before any serious considerations of gathering great wealth can be made. GC Financial Advisors Ltd. challenge everyone that asks for financial advice to first and foremost gain absolute and precise power over their accounts and spending behaviors. For instance, how do you expect to gain financial ground if you can't even recite your current available checking balance? Or even tell us what, precisely, your monthly bills total? These are 2 of the most basic examples of facts you must habitually know.
Once you have this information, you can begin to work on cutting expenses, erasing all unnecessary costs, and removing as many monthly bills as you possibly can. This takes sacrifice, commitment, and honesty. The majority of us can do without a cable bill and certainly could use that extra cash. But how many do? For the individual genuinely determined to take action and learn how to earn more money then these simple sacrifices aren't too much to ask at all. In fact, it is only temporary.
The very first significant question you have to think about 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 newest greatest smart-phone and data plan? Do I really need to buy prepared meals or can I purchase 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 details about cash management, regardless of your age, please feel free to contact us at any time and we'll be glad to help you!
