It’s not the money that you earn, it is what you keep that counts
Lot’s of people view networth as having more money in the bank but having money is not enough. You may have money in the bank but you got tons of loans and mortgage unpaid. If you offset these debts to your money tuck in the bank what remains is what really counts.
source: http://www.fairloanrate.com
Business loans are a great help to increase your venture’s cashflow for your day-to-day purchases. An additional fund in your checking account will surely help you going in your business but relying too much with loans might also end up bad when uncheck. In an entrepreneurs level, one must not forget to have saving habits in order to curb expenses that might be small but significant when accumulated. Office supplies may balloon due to wasteful use. Water and other utilities because no one cares about switching the faucet off correctly or turning lights when not in use. In any business each member should be mindful of what cash outflows are being made. If savings can be done, all should be geared to such savings.
Same also in your own finances. At a personal level one should have saving habits not only to curb expenses but also to be able to keep more that the usual thus adding to your networth.
Some financial institutions now have debt consolidation. Credit card companies does credit consolidation as well. This services may help you in both managing your debt and finally paying your debt. While you are still working on those debt or loans, you got to focus on saving money now. This is where you have to establish a personal saving habit.
We all have different spending habits so it follows that we too have different saving habits. Always remember that the solution is in the problem itself. What you could do now is to write every spending you have. Writing it down gives you a record that will serve a purpose later on. Such record becomes an important data that will help you in formulating your savings habit.
source: http://justkas.wordpress.com/
It has been a year now since I started writing an e-book about savings. But it was just recently that I have my hands on the project. So far I have my outline and have started filling in the ideas to each topic. It will take some more time to have the draft and lots of review and revisions until a polished work could be seen soon. I hope this work will help you towards establishing your saving habits. So hold tight and remember that what matters most is what you get to keep.