By Dan Benson
Monetary consultant Dan Benson exposes the twelve greatest blunders humans make with their cash and obviously demonstrates how readers can flow from monetary lack of confidence to monetary freedom. confirmed, useful aid for negotiating the monetary minefields of existence.
1. Misuse of credit
2. Letting greed take control
three. contemplating this day and never tomorrow
four. Motor toys - the largest funds drain
five. Failure to address the "set aside"
6. no longer figuring out what to do with the $
7. now not taking care of the "temple"
eight. both an excessive amount of or too little insurance
nine. Following fads vs. staying the course
10. Lackadaisical giving
eleven. Letting Junior devour away your nest egg
12. now not benefiting from tax breaks
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Extra info for 12 Stupid Mistakes People Make with Their Money
Should you write the check now and save $180? The problem is you don’t have enough information to answer these questions. You don’t have your true cash balance yet. You are virtually guaranteed of making a bad decision if you use the bank balance to answer these questions. This is an extremely important point. It’s essential that you recognize clearly that you cannot, and absolutely must not, answer these questions based on your bank balance. What’s the Problem? Most businesses cut checks and pay their bills every week.
And why does a business fail? There are a number of contributing factors; however, they can all be summed up like this: They Ran Out of Cash What I find fascinating about these statistics is what’s hidden beneath the data. Is running out of cash just one of those things a vast majority of businesses should expect? Seth Godin and Paul Lim, authors of If You’re Clueless About Accounting and Finance and Want to Know More said this: “At the very least, your company must ensure at all times it has enough cash in its accounts to meet short-term obligations as they come due.
It’s like riding along on the freeway in a driving rainstorm and you discover that your windshield wipers won’t work. You cannot see the cars in front of you or behind you, so you slow down to a crawl. You’re just hoping and praying the rain stops before you end up in a terrible accident. • Your focus has shifted. Now you are spending most of your time trying to put out the cash flow fire. You cannot focus on doing what you do best—taking care of customers and making more money. You are now the chief firefighter.
12 Stupid Mistakes People Make with Their Money by Dan Benson