Personal Money Management
The poor are getting poorer while the rich are getting richer. What is the reason behind this scenario? The answer is simple. Rich people treat money differently from poor people. Rich people manage their money quite differently from how poor people manage it. Before we get into the detail of how to manage your money like rich people, we need to do a little self examination.
Does it sound familiar to you? Are you one of them who go in and out of several banks after you receive your salary, just to pay off your bills? If you do all that for a reason and you are happy with it, it is fine. But the problem is, that is NOT fine for most of us.
What is Your Financial Status? In businesses, we look at the financial status of a company by looking at their balance sheet. Balance sheet is a piece of paper that records incomes and expenses of a company during a particular period time of operation. The status of a company is displayed by a number at <a href=”http://www.theforexguy.com“>price action</a> the end of the sheet. It is what a company have in balance by taking all incomes minus off all expenses. During the end of the month or early of next month, people are rushing to banks. They are busy with home loan payment, car loan installment, credit card repayment, etc. At the end of their busy monthly schedule of paying day, one most popular question pop up in their head: How much do I have left for the rest of the month?
New Age Money Management Put your savings in a bank is not really a smart way of manage your money during information age. The inflation rate can easily bypass bank’s interest rate. Working is for those who want to stay where they are forever. How many employees get an increment in percentage that is greater than inflation rate? Even if it is greater than inflation rate, by how much I’m not implying that you don’t need to study. I strongly believe that knowledge is the source of power.
With great power, you can do mighty things. Just that, maybe it is time for you to start manage your money like those who manage it well and get their way out of the undesired situations that I mentioned above? I believe for most of us, the money we have is always insufficient. If you feel that you already have enough money to live with, you may want to take it to a next level.
If you are constantly short of money during the end of the month, or you think you have enough money and still need a little extra, this is the correct book for you. Personal money management is a means to financial freedom, and the right mindset, goals, and with constant activity, you have your own financial future can be dominated. Using the above steps, starting with how easy you can start to see results immediately. Managing your finances properly, and in other areas of your life time and you will be able to easily manage.
Business Owner Beware! Owning a business producing physical products will soon only be the playground of major players in their field. The strong get stronger. The weak is diminishing one by one. Just take a look at automotive industries, microchip industries, telecommunication industries, etc. Strong players remain strong. There is hardly a room left for small or new players.
Good products and services will not guarantee your market position with the changing of consumer behavior, everyday! If the trend continues, there will soon be only few choices for cars, computers, cell phones, etc to choose from. Does your business stand a chance to survive and get strong in the next few decades?
Category: Financial Planning
