Budget and personal finance are the themes most people favorite theme. But bank executives have problems in this field, but you are an entrepreneur like you. You are concentrating a lot of time on your business, your personal checkbook takes the back seat. It is time and panic that the province will not be surprised to meet that day.
Well, just apply your professional talent to the state and become your own personal CFO. By using your CFO's eyes in the situation, it somehow offends the pain of dealing with your own money. In order to start, here are five rule processing business like customer's personal goods:
1. You have your own board of directors. To make good decisions, you need to know what you are trying to achieve. In the business, write the mission statement to maintain the company with the goals and trucks of the board. At home, it is up to you to define your mission, write down your goals and make sure that it fulfills it. Either just your financial purpose, but the purpose of your "life".
2. Know your operational costs. Do you know what you spend monthly on average? Since businesses base their budget on historical expense patterns. Most people, however, do not know the cost of maintaining their lives. You make a detailed budget, but you can find it at the end of the month that is not stuck with it. So instead of how long you spend doing the actual "cash flow statement" you actually spend each month, dividing into several categories, how much
3. I know your net worth. Companies measure the progress toward assets and liabilities through a list balance sheet towards the goal. Your net worth is the list of all things you own which is your balance sheet. It means your check and savings account, investment, car, house, etc. I owe all the minus. Truck net assets are the goals of individuals towards confirmation that we are in quarter. In this step, there may be no impact to the decision of your money up.
4. Predict the result of money decision.When making business decisions important, use the process called "scenario plan". They compare the possible outcomes of an option with different alternatives. Determining the smart gold the same process available. Another choice, the cash flow that can be answered for each of seeing the two options themselves. Remember, there is no choice of "good" or "bad" - just the choice to put you closer or far from your goal.
5. Track progress by annual report. Just as the company assesses their progress in their annual report, you need to review your list of priorities annually. Please tell us your ambitions. Do you spend less than you earn? Did you save as planned?
Selling what you need - Lending is a business that treats like money at all. Please give time to deserve it because the time you spend is really investment yourself and your dreams.
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