Budgets and personal finances are a favorite theme of most people. Even bankers have problems in this area, but if you are an entrepreneur you will do so. You're concentrating a lot on your business, your personal checkbook takes the back seat. It is time and panic that the province that is not surprised to meet that day leans.
Well, just apply your professional talent to the situation and become your own personal CFO. By using your CFO's eyes in situations, it somehow angeres the pain of dealing with your own money. Here are five rules to get you started: your personal goods like business:
1. Have your own board of directors. To make a good decision, you need to know what you are trying to achieve. In business, write a mission statement to keep the company in track with the goals of the board of directors. At home, it's up to you to define your mission, write down your goals, and make sure it plays. Either just your financial purpose, but your "life" purpose.
2. Know your operating costs. Do you know what you spend on average every month? As businesses base their budget on historical spending patterns. Most people, however, do not know the cost of maintaining their lives. You can make a detailed budget but you can find it at the end of the month when it is not stuck. So instead, do a record "cash flow statement" of how much you spend each month, actually divided into several categories, and how much to spend
3. I know your net worth. Companies measure their progress towards their goals through a balance sheet listing assets and liabilities. Your net worth is your balance sheet listing everything you own. That means your check and savings accounts, investments, cars, homes, etc. I bear all the minus. Track your net worth quarterly is a personal goal towards confirming what you are doing. In this step, the impact may not be on your money decision.
4. Predict the outcome of money decisions. Use a process called "scenario planning" when a business makes important decisions. They compare the possible outcomes of one choice with another. Determine smart gold the same process available. The other option, the cash flow that each can answer, looking at the two options themselves. Remember, there is no "good" or "bad" choice – just the choice to put you closer or farther away from your goal.
5. Progress of the track by annual report. You just need to review your list of priorities annually as the company assesses their progress in their annual report. Please let me know your aspirations. Aren't you spending less than you earn? Did you save as planned?
Selling what you need-Lending is a business that treats you like money. The time you spend is really an investment in yourself and your dreams, so give me the time to deserve it.
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