How much start up capital will I need? In my experience, the most common way for people starting up a business to estimate their start up capital needs, is to have an educated guess. The problem is that the guess is not at all an educated one. Hence the need for thorough business planning and […]
The first common mistake in financial management is to rush straight into ‘a flurry of activity’ without first setting goals or doing any planning. It is critical that your ‘flurry of activity’ is productive and prioritised towards achieving your goal of financial wellbeing. The second common mistake is procrastination. That is, doing the thinking, the […]
In the quest for financial wellbeing, the two skill sets that the vast majority of people lack are financial management and wealth building skills. Both are needed to run a successful business and a run a successful household. Lack of financial management skill is one of the main reasons for business failure in Australia. It […]
Looking for ways to make money for you? The financial wellbeing budgeting exercise, that I guided you through over the last few posts, is a tried and proven way forward to reaching financial targets. Those who accepted the challenge and prepared a budget, reviewed it, revised it and shaped it, obviously have the will to […]
When most people sit down to do a budget they regard their income as a given and look to reducing expenses to create savings. Financial wellbeing is a lot more than cutting expenses. There are other ways to make money for you. Income is never fixed – except in your mind! If you think like […]
The aim of a budget is to plan and build to the point where you achieve financial wellbeing. Now that you have completed both the income side and the expenses side of your budget, it is time to review your work, and get ready for a few home truths. This is the time when you […]
Do you seek financial wellbeing? Last time I talked about the income side of your budget. Now let’s continue with the expenses side of your budget. Before you start make sure you have your file of bills paid. As I said last time, you should start with an annual budget, and break it down later […]
General advice warning: The article below is general advice only. It is not personal advice tailored to suit your individual needs and therefore, you should consider whether this advice is appropriate for you. Here is one of many good business building tips Brisbane people can use. The beauty of doing a household budget is that […]
General advice warning: The article below is general advice only. It is not intended to be personal advice tailored to suit your individual needs and therefore, you should consider whether this advice is appropriate for you. Financial wellbeing starts with a household budget – what you earn after tax, in your hand, minus what you […]
I have said it before and I’ll say it again, there are a few positive money habits that you need to adopt before you launch headlong into planning your financial wellbeing. Forget the millionaire mindset! You shouldn’t think that you have to be a millionaire to achieve financial wellbeing. Making small changes and taking small […]