It’s so easy to bump along through life, letting it pull you along and have no true grasp of your personal finances. Sure, you keep up with the bills, contribute to your retirement funds, keep that 30-year mortgage at bay, and give a little here and there. It’s not a bad life, but at times you just feel so overwhelmed by it all. A car breaks down, an air conditioner needs fixing, the roof needs replacing, a kid needs braces… You’re just one step away from financial distaster.
Could you imagine running a business like that?? Imagine a business that’s not really trying to track income or expenses, that doesn’t have short-term and long-term goals, just bopping along hoping the business doesn’t go bust. That would never work! In running a business, whether it’s a small business or a big business, it’s important to keep close watch on how it’s doing – the market, the finances, the customers – and make sure it continues to succeed.
So what if you treated your personal life like a business? Would your “business” succeed or fail?
You are your own CEO
So treat your personal finances like you are your personal business’s CEO or CFO! Minimize those expenses, find ways of writing off taxes, maximize your income, plan for the future, save for emergencies, and keep an eye on the market.
If you treated a business like you treat your personal finances, would you succeed or bust?