Cash Management – Homer Glen
Folks typically ask themselves, how can I earn more money? Hardly ever will they recognize that proper cash management can go a long way to creating riches. We've all heard it before, right, a penny saved is a penny earned; well let's take a different view on that principle. Let's say, the less money you need to earn the more you can make, and quicker too. This is applicable to anybody in any business venture.
One of the biggest secrets we have discovered about millionaires is that they don't without thought spend away their lot of money on frivolities. Spending always comes after calculations. Right after carefully deducing the value, competitors prices/options, intrinsic value if any of having the item, and timing. Only then is a purchase made. Very different compared to the wanton spending which is commonly attributed to the rich!
These same concepts can easily and should be applied to your own personal accounts before any serious considerations of acquiring fantastic wealth can be made. GC Financial Advisors Ltd. challenge everybody that asks for financial advice to first and foremost gain absolute and precise control over their accounts and spending practices. For example, how can you expect to gain financial ground if you cannot even recite your current available checking balance? Or tell us what, exactly, your monthly bills total? These are 2 of the most basic examples of information you must constantly know.
Once you have this information, you can start to work on trimming expenditures, erasing all unnecessary costs, and getting rid of as many monthly bills as possible. This takes compromise, dedication, 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 are not too much to ask at all. After all, it is just temporary.
The 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 do without? Do I really need the newest greatest smart-phone and data plan? Do I really need to purchase prepared meals or could I purchase 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 details about cash management, regardless of your age, please feel free to contact us at any time and we will be glad to help you!
