A successful money management plan can be very easy to implement – with a little knowledge.Just make sure you have a basic understanding of:
Importance of Having Your Own Business
Apart from the 'feel good' aspect, it is important to have your own business because businesses provide a REAL advantage over being an employee. Robert Kiyosaki explains this aspect so well.
Many miss this point!
Make sure you understand and use this to your advantage, and make money with your home based business.
The other KEY aspect is cashflow. no point having a business unless you are profitable.
Within your successful money management plan you can use your home based business tax deductions to work FOR you - depending of course, on which country you reside in.
America and New Zealand do have some advantages over Australian tax savings when starting out, however you will get your head around it a lot easier by understanding the PRINCIPALS.
The reason many people start a home based business is to remove their debt. The fact is, with 80% of bankruptcies an extra monthly income of $200 – 600 would have saved these families from bankruptcy. A home business generating this could make the difference – so long as you manage your cash flow properly.
A successful plan would not be complete without a simple, achievable, debt reduction plan.
Retirement Income Building a business that continues to produce a passive income even after retirement can be a lot easier then you think. Done right, you won’t need as much capital (lump sum of money) to produce this residual income. So often we complicate our retirment income planning, but a successful money management plan really and truly CAN be simple.