Cash Management – Franklin Park
People frequently ask themselves, how can I make more money? Rarely 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 perspective 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 anybody in almost any business.
One of the best secrets we've discovered about millionaires is they don't without thought spend away their lot of money on frivolities. Spending always comes after calculations. After very carefully deducing the value, rivals prices/options, intrinsic value if any of owning the item, and timing. Only then is a purchase made. Very different than the wanton spending that is generally associated with the wealthy!
These same concepts can easily and must be applied to your own personal accounts before any considerable considerations of acquiring 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 over their accounts and spending practices. For instance, how can you expect to gain financial ground if you can't even recite your present available checking balance? Or even tell us what, exactly, your monthly bills total? These are two of the most basic examples of information you must habitually know.
After you have this information, you can begin to work on cutting expenses, erasing all needless costs, and getting rid of as many regular bills as possible. This takes compromise, dedication, and honesty. Most of us can do without a cable bill and certainly could use that extra cash. But how many do? For the person really determined to take action and learn how to earn more money then these simple sacrifices are not too much to ask at all. After all, it is just temporary.
The first significant question you need 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 food or can I purchase more food items 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 do not hesitate to contact us at any time and we'll be glad to help you!
