Cash Management – Lake Bluff
People typically ask themselves, how can I earn more money? Seldom do they realize that proper cash management can go a long way to creating money. We've all heard it before, right, a penny saved is a penny earned; well let's take a different perspective on that principle. Let's imagine, the less money you have to earn the more you may make, and quicker too. This is applicable to anybody in almost any business.
One of the biggest secrets we've discovered about millionaires is they do not thoughtlessly spend away their lot of money on frivolities. Spending generally comes after calculations. Right after carefully deducing the value, competitors 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 which is generally associated with the wealthy!
These same concepts may and should be applied to your own personal accounts before any considerable considerations of collecting great 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, precisely, your monthly bills total? These are 2 of the most basic examples of facts you must constantly know.
After you have this knowledge, you can begin to work on cutting expenditures, erasing all unneeded costs, and removing as many regular bills as you possibly can. This takes compromise, dedication, and honesty. Most of us can live without a cable bill and certainly could use that extra cash. But how many do? For the person truly determined to take action and learn how to earn more money then these basic sacrifices aren't too much to ask at all. In fact, it is only temporary.
The very first major 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, what can I live without? Do I really need the latest greatest smart-phone and data plan? Do I really need to buy prepared meals or could 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 information about cash management, regardless of your age, please feel free to contact us at any time and we will be glad to help you!
