Cash Management – Island Lake, Illinois
People often ask themselves, how can I make more money? Not often will they realize that proper cash management can go a long way to creating wealth. We have all heard it before, right, a penny saved is a penny earned; well let us take a different view on that idea. Let's say, the less cash you need to earn the more you may make, and quicker too. This is applicable to anyone in any business venture.
One of the biggest secrets we have discovered about millionaires is that they don't without thought spend away their fortune on frivolities. Spending generally comes after calculations. Right after carefully deducing the value, rivals prices/options, intrinsic value if any of possessing the item, and timing. Only then is a purchase made. Very different compared to the wanton spending that is commonly attributed to the wealthy!
These same principles could and must be applied to your very own accounts before any considerable considerations of gathering excellent prosperity 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 habits. For example, how do you expect to gain financial ground if you cannot even recite your present available checking balance? Or even tell us what, precisely, your monthly bills total? These are 2 of the most basic types of information you must constantly know.
Once you have this knowledge, you can start to work on cutting expenses, erasing all unnecessary costs, and getting rid of as many monthly bills as possible. This takes sacrifice, commitment, and honesty. Most of us can live without a cable bill and definitely could use that extra money. But how many do? For the person really 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 only temporary.
The very first major question you have to ask yourself 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 newest greatest smart-phone and data plan? Do I really need to purchase prepared meals or could I buy more food items and cook it myself at home? Do I really need to purchase that 12 pack on Friday and watch cable all weekend?
For more information 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!
