Learning how to properly manage money is crucial to our survival. Our ancestors had to learn to deal with money the hard way to be able to control their personal finances. A lot of us don’t live that anymore.
Don’t waste your time and money on get-rich-quick schemes. Most of these products are scams. Do some research, but remember that the bottom line is to actually make money. Some of the money that you are spending on books and seminars could be plowed back into your business.
Profits should be protected and reinvested as capital invested. Set a standard for what you keep as profit and what is reallocated into investments.
Having this detailed plan will be a motivator for you also, because it gives you a specific reason to work harder or curtail other forms of spending.
In today’s volatile economy, it isn’t a bad idea to use multiple savings vehicles for your extra cash. Put some in a … Read the rest