Happy Monday -
From time to time I come across articles on the web that although may not be directly 100% related to working your business they are valuable.
Here is one that I think is valuable and applies to not only people working a business but to everyone.
I am sure that by now everyone realizes that we are seeing a change in how credit is given in the US - it is no longer as readily available. Here is a short article from Entrepreneur.com that gives 5 quick ways to control your cash flow during the credit crunch:
Control Your Cash Flow - Entrepreneur.com
Tags: cashflow, credit crunch
I wanted to talk a little bit today about getting your financial house in order. Over the past several weeks Ian (hubby), and I have been spending some time on doing this. If you haven’t done this lately and kept a pulse on where you are it can be a time consuming process.
We had slipped a little bit and had a bit of updating to do. In this process we reviewed many things:
- Current Debt Load
- Insurance Coverage
- College Planning
- Retirement Planning
- Monthly Budgeting
It was a time consuming process but very well worth it. We are still working on finalizing this round and then we plan to visit this every 3 months (quarterly) to ensure that we are on track.
One thing that was very positive for us was that in doing this process we were able to see that in about 11 years WITHOUT adding the extra income that is coming in from our business ventures, Real Estate and Network Marketing we will be 100% out of debt including our house and three rental properties. Needless to say this was very encouraging.
If you haven’t done this process in a while I would highly suggest that you do so. Knowing your clear picture will help you plan and grow in your Real Estate investing as well as any other venture that you set out to do.
If you have a financial advisor I would suggest working with him or her on this process and if not I would suggest that you look for someone that you trust. We are working with our Primerica Representative on this process because we like how they work and what they provide you - we now have an updated blueprint to work from to reach the goal of being DEBT FREE and be able to plan to grow our wealth through real estate and other business ventures.
Tags: financialplanning, getting your finances in order, debt free
