How To Be financially Literate and Build a Business

Money is essential in today's world, everything you do in life as a price tag. People look for job security because they want to have the ability to buy what they want. No matter the pay at my jobs I never thought I was secure in my position or income. I realize the best way to ensure my money was to control it myself. Remember in the previous chapter we talk a little about starting your own business? It was not easy thinking that way, but I decided to create another stream of income for myself. The key is to focus on the end results, having a vision fuels your passion and keep your soul on fire. I push down that scared little voice inside my head to fight the person I longer wanted to be and work on the person I want to become. Now it was time to get smart about looking at money from a scientific point of view, not on my emotions to be financially free.

Financial studies take long hours to master, hard work through trial and error of implementing what you have learned. If you do not know what an asset is and what are liabilities now is the time to find out. First, learn about your liabilities, cars, home, and yes even the people in your life can be a liability. They all cost you money, money you work for and usually have no returns. My favorites are of course assets; these guys make your money every time you invest in them. A rental property could be an asset, investing in new technology for your business is an asset to your company. Assets can be part of a good debt to build your business. Don't worry about the cost for now, because it is an investment you looked at the numbers and already check the facts, so you are solid on the returns. Do what the rich do, stop following the crowd, get the facts and make your decisions. There is no big secret to wealth, it all lies in your financial intelligence.

Managing money is one of the hardest skills I ever had the pleasure of learning. Do you know how much of your paycheck you keep after ALL your expenses for the month?

Take your passion and make it a career choice

The first step to starting your business is planning, write a business plan that is particular to the business venture you choose. Once you have something that makes you heart sing every day build a future around that passion. Most of us have the potential to be great, it all depends on the individual's determination to be successful. Your career options in today's world are unlimited, take yourself out of the box and start looking at those options.

What are You Passionate about achieving in Your Life?

Starting Your Small Business and Financing

Starting a small business? one off your most important part is accounting. Understanding that the lifeblood of that business and its finance is a game changer. Careful planning and research help with locating all your resources. Start-ups can start from your own wallet and reach all the way to a bank loan, but remember minimizing your bills is key.

As an entrepreneur you want to first plan exactly how you are going to move forward. One of the best part of moving forward with your plan is that most likely you will be venturing in a field that is your passion. Most entrepreneurs turn their passion into a career, that helps you with your vision. Now that you known where you want to go it is time to find out how your going to get there.

Financing your business is very important, when starting you need to make sure long-term goals are your top priority. Running a successful business start with strong planning and money management to avoid unnecessary debt. Writing out a plan helps you understand your cost to open, run, and support your business for years to come.

Deciding on your business financial need center around your cost for inventory, labor, office, if you have them employees for the most part. One business cost will vary from another depending on a virtual or physical site.

Choose a financing option that benefits your business to get started on the right path to success. Different financial options are available to fund your business and stay on budget.

-Selling unwanted personal items on eBay/Amazon

-Your personal savings

-Family and Friends

-Credit Cards

-Loans

Starting out with selling your unwanted personal items is a great way to have some money on hand. It's a great way to finance yourself without worry of interest or paying anyone back. Think of any collection you no longer want that are just collecting dust around your house. I collected anything Disney related over the years just because I thought that with the Disney brand they will always be worth money. I open a eBay store a few months after I came back from my internship and have made great sales with all my products. It has giving me the option to run that business while I plan on my other business with the profits I make. If you did not have anything you collected check friends and family and ask them about anything they do not want and are willing to part with them for free.

Remember you want to find a way to start making money by not spending any, focus on that goal and do not venture off and get distracted. The option to go and just use your savings, but be very careful and plan on not just wasting your money that you have spent a good amount of time putting away. It will help to use a part of your savings to make sure you have a backup. It is always wise to not putt all your money in one place, you never known how an investment may turn out.

If you decide to go with the borrowing options remember to plan out exactly how much you will need and how you plan on paying the money back. Setting your plan up with a great presentation, PowerPoint, and even just a board is extremely important. You will be able to see your ideal clearly but for others it will be hard to visualize. You want to show them exactly what you see, a great business plan will help you do that. Your friends and family are close but it is there hard earn money they are lending you so make them believe. If they are able, try to borrow from them. If credits cards and loans are the route you choose, borrow just enough to get you started. When some people are using their credit cards sometime they forget the interest and paying back can add. If it is an option make this your last result because whether you make a profit or not you are on a time limit to pay them back and you do not want to risk bad credit. Be responsible with taking out money that is not yours and remember you have that money for your business and not other expenses.

Success is all about planning and always working hard to make your vision. As a new entrepreneur working hard and utilizing all your resources will be an important key to your success. You have great resources at your finger tips when you start. Bing offer a free coupon to start you off as a new Bing ads registrar, you may also receive one from Google ads, foursquare may also give you coupons to start your ads. Remember do not spend money if you do not have to, most of the hosting packages do offer advertising coupons after you sign up for a year or more membership. Remember that planning and managing your finance will keep your business on a successful route.

How to Gain Financial Freedom Starting With the Basics

Financial freedom is something that just about everyone dreams of every day, but only a handful ever achieve. In today's society, everything in your life cost money, home, travel, food, and even water comes with a price tag. Financial freedom allows you to live the life you a have always dream about with no worry, stress, and plenty of time to spend with the ones you love. People always say that money does not bring you happiness; they are right money by itself can't make you happy. The reason you need money is to allow you the freedom to live a luxury lifestyle.

Gaining financial freedom is not just luck, it's not magic, it is knowledge, the financial knowledge that allows you to make educated decisions to win! You need to use the right tools, acquire the right information and methods to achieve success.

Creating financial freedom is not easy by any means, the lessons, practice, errors, and time it takes is exhausting, but then again so is working 8 to 12 hours a day for over 40 years. You want to fix your life, gain success, and improve your future right? It all starts with the basics.

It is crucial to start with the basics in anything that you want to accomplish. You need not only to be aware of them but understand them fully. The basics will the be your foundations, just like any structure that's built on a strong foundation you will be doing the same. Building a healthy individual to reach financial freedom starts with a strong foundation in you.

Let us build a guide to learning our four Basics to continue on the path to financial freedom.

Examine yourself:

It is important to consider yourself as an individual and be honest about what you find to be successful. Personal traits are what we are talking about, analyzing your personality. Think of the good and the bad to see yourself as others around you do. Examine your attitude towards the world, do you see your glass as half empty or half full? If you feel like you are entitled to great wealth go out a create it with knowledge and working smart. Walking around being negative about your life only make people feel uncomfortable when they are around you. You will push people away from you and close a lot of doors and opportunities along with them.

Mental clarity is important to accomplish anything you do, and when it involve money you need it more than ever. Your mental state may not seem important when it comes to gaining financial freedom, but it is a part of your life that can make or break you. Hindering one's success with self-dought and low self-worth is possible. You need to see yourself as valuable before anyone else can.

Stop Negative Thinking:

Those negative thoughts as got to go! Whenever you think something can go wrong, or you are not worth it, you are bringing bad luck your way. It never helps to think poorly of yourself in any situation; you need to have pride and believe in yourself. When have you ever looked down on yourself and it has made your circumstances better? Use a mental mind trick if you will, allow yourself to believe that the situation is going to work out. When you set your mind to win the action you take will mirror your thoughts and gain you success. Personal growth to gain financial freedom is about first believing you can succeed in your current predicaments to achieve the finances you need to be financially free. Getting negative thoughts out of the way allow you the freedom to dream big and take actions.

Know the true meaning of Wealth:

Many people make the mistake of thinking financial freedom is about having a lot of money. Erase that thought right now! Having money and having financial freedom are two different things. Your wealth dictates your financial freedom.

Wealth is "The number of days you can survive, without physically working (or anyone else your household physically working) and still maintain your standard of living." from Rich Dad's Cash flow Quadrant

In other words, you need to create wealth that takes care of itself and you without having to do physical labor. It is important to understand that wealth can come to anyone, the key is keeping that money and continue to build a prosperous future. You need to be responsible, smart about the actions you take that delivers a fruitful future.

Understand That you should think of others:

It is true that money alone has never made anyone happy, but it does make life easy to enjoy and the opportunity to give back to others. It is more than just being wealthy yourself, understand without other people you would have never reach your success. Take some action steps to ensure your success and to make a difference in at least one other individual's life. Learn to fine tune your primary instrument, yourself! Take the time to improve your mental and physical health. Read more books, take classes to improve your knowledge, improve your nutrition for better health. Make the commitment to living a healthy lifestyle overall to achieve your dreams in life. Develop those skills that you already have; you can never know too much in my opinion so always search for knowledge. Take your current skill sets, practice them every day for improvements, continue to find ways to improve yourself. Build loyal connections and set yourself up in a society where you are valued, respected, and loved for who you are and what you believe. Now you will be free and able to help those around you that need a helping hand in their life.

Helping others start with your building yourself as an individual and then lending a hand to those in need. Go and build your empire and give back to the world that as giving you so much. A positive outlook on life brings you great happiness, stay focus, active, and keep your joy while gaining financial freedom.