Entries Tagged 'Personal Finance' ↓

Budgets are fantastic tools to keep smart business owners from spending too much, but what happens when you have more money than you’ve budgeted for?

What do you do when there is an excess? (What a problem to have!)

Experts advise us to not save the money but to reinvest in your business. How do you decide where to reinvest?

One of the best places you can reinvest your money is in your marketing plan. Amp up your marketing a bit and try a direct mail campaign or a large scale promotion.

Of course, just because you have a little extra money to spend doesn’t mean you want to jump into a new marketing tool without planning. As with any marketing tool, you’ll want to set goals for your plan and test it before you roll it out.

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Do you balance your checkbook?

Recently I had an eye-opening experience. I was sent an invoice for something I had already paid for. When I contacted the company, the representative asked me what the check number was on the check I sent.

I gulped. I didn’t keep track of my checks, let alone balance my account. It seemed like way too much work. I’m not an accountant, after all.

I had to swallow my pride. “I don’t know,” I said. “I don’t track my checks.” What could she say to that? All I could do was wait for the check that I was sure I wrote to clear the bank, and call them back.

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The thought of putting yourself and your family on a budget can often feels overwhelming for many. The truth of the matter is that not having a budget, operating with financial blinders on, is much more overwhelming than creating and sticking to a budget.

Before you even get started thinking about a budget, you’ll probably want to spend some time assessing your attitude to money. Money is not an evil or a bad thing. In fact money is wonderful!

Money enables you to have a roof over your head, to feed your family and pets, to keep you and your family healthy, and to wear the clothes that help you tell the world who you are and what you’re about. Money buys education opportunities, cultural experiences, and money enables you to help others in need.

Think positively about your money.

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