Financial information tends to bore most people except for accountants, accountants, and accountants. Even though the thought of looking through and analyzing numbers may scare you, there are some metrics that drive your financial results and should be measured carefully. They are usually more exciting to keep track of because they can also help predict […]
Expenses
Should Married Couples Keep Their Money in Separate Accounts?
It’s not uncommon for married couples to keep their money in separate accounts, specifically checking accounts. With retirement accounts, each spouse must have their money in a separate account, including IRA’s and 401k’s, but is it ideal for a married couple to have separate checking accounts vs. a joint account, and why is this important? […]
Do You Make a Good Living and are Actually Poor? You Probably Need to Stop Doing These 3 Things.
We spend so much of our time working, working, and then working some more to make a good living, but do you have anything to show for it? I don’t mean showing off, but rather having a strong financial foundation with minimal debts, savings, investments, and other valuable assets. If not, then keep reading . […]
How to Destroy Your Business Success in 6 Steps
Sometimes to be successful means to avoid doing the things that will destroy your success. It’s easy to go down the wrong path and it’s important to be aware of this. Step #1: Saddling Your Business with Debt Conventional wisdom states that there is smart debt vs. dumb debt or a similar description of two […]
The Differences Between How Men and Women Manage a Business
There are differences between how men and women manage their business, their employees, and their finances. What are these differences and does it matter? Do you really think that I am brave enough (or foolish enough) to write an article with a topic like this?! Maybe for another day. If you like what you just […]
Do These 6 Things Differently than Others if You Want to Get Ahead Financially
Do you ever wonder what the difference is between those who get ahead and those who are constantly struggling? There is a pattern of actions that are taken repeatedly by those who get ahead, while the opposite is true of those who struggle. Action #1: Delayed Gratification The financial impact of delaying gratification for future […]
Why You Shouldn’t Sell Your First Home
The common scenario is this: purchase a small, starter home and then move after 5 to 10 years into another, much larger home. But is this a prudent move or are there other options? There is one, largely overlooked option, that can have a great financial impact on your finances. The option is to move […]
Are You the CEO of Your Business?
There are 3 phases of running a business with the ultimate phase of becoming the CEO. The first is that of an employee, the second of manager, and then CEO. Most business owners are in the first two phases and never achieve the CEO level. Why is this and what are the steps to become […]
Should You Pay an Allowance to Your Children?
Don’t most children just get what they want nowadays so there is no need for an allowance? Maybe for some, but I am sure that has always been said. Here are the pros, cons, and a blended approach of an allowance: Pros: Value of money: An allowance can help children to realize the value of […]
Which Type of Business is the Best One to Own?
Which type of business is the best one to own? The short answer is one that makes money, but the long answer is that it should have all or some of the following characteristics: Simple product or service: The more complex the product or service you are offering, the harder it is to operate your […]