It’s Time For a Financial Reboot
As we move into the second quarter of 2021, now is a great time for a financial reboot in our business and personal financial planning and growth.
Things are slowly recovering from the pandemic of last year and all indicators are that this recovery will continue though inflation is sure to come with it.
So how will you make financial decisions this year? Each of us has “Money Principles”, the rules we follow when making financial decisions. These are present whether they are conscious or not. When you follow the rules and principles of money, your business and personal finances can grow at a substantial rate this year.
What are the rules of the game of money?
The rules of the game that the wealthy follow – and many of the rest us don’t – have been around for a long time. These rules are not exclusive to the wealthy, you can follow the same rules. When you follow these rules or principles your business and personal life changes forever.
Some Rules and guidelines for Business Owners:
- Having current financial statements
- Reviewing your financial statements with an advisor monthly or at a minimum quarterly
- Having a financial forecast for the next 12 months
For your personal/family life:
- Paying yourself first
- Keeping current financial records
- Having a plan for the next 12 months
When you follow these principles you can expect new results. Truly what rules or principles do for us, is they are the guiding ideas we use to form our behavioral habits.
The first rule of wealth building is awareness.
Many of us have developed a set of habits that may not be working for us. Often these principles or rules of the game are not something we can put into words. For each of us these principles are different and have come from what others have taught us and or from habits we have formed over time. They go back to the time when we received our first allowance or our first paycheck.
If an individual is unaware of their principles, their guiding rules, they can be making decisions that are not getting them where they want to go and they have no idea they are doing it. For instance, some of us keep a check register and some of us don’t. Some of us sit down and pay the bills each month and some of us don’t. Some of us pay bills randomly and some of us wait to the last pay check and then we pay the bills. If family members and or business partners are unaware of their rules they can be butting heads and never understand why.
As well, most of us never stop to look at the whole picture and how our daily actions impact that picture. When we meet with financial management people, someone like myself, who can help us to shift our habits to create wealth, then we begin to create awareness around knowing why we make the decisions we make around money..
I am offering a free Money Principles Assessment to assist you in creating the best financial growth for the rest of 2021.
Awareness is the first step to change, it is the greatest gift we can give ourselves. If gaining this awareness is important to you simply email us and we will get you started! Let’s prepare for a better economy and make the rest of 2021 you’re best financially.