5 Money Management Tips Every Investor Should Follow

I’m always happy to pass on great info...and this is great info! I’ve included a few snippets below lifted from the full article.

Everyone wants to make money. What most people fail to grasp is that it is not how much money you make but what you actually do with it that is important. If the money is going out as fast as it is coming in eventually the well will run dry and you will be left wondering what happened. As a real estate investor there is a certain money management discipline that is needed for success. The manner in which you earn a living and have access to money is unlike most other businesses. Just because you get a check at closing doesn’t mean you need to go out and spend it. The best investors know that they need to allocate most of the funds back into their business and only take a small portion for themselves. The better you are at managing your money your stronger your business will be. Here are five money management tips every investor should follow.

• Understand Expenses. When is the last time you looked at your balance sheet? You don’t need to be a CPA to have a grasp of your business expenses. If you are like most people in business you probably haven’t poured through your bills and expenses in several months. It is not uncommon to be paying costly expenses without getting much of a return from them.

Do you need more detail on this subject? Head on over to the full article here for more ideas and perspective. Afterwards, why not drop me an email to share your thoughts [email protected]; or call me on (0400) 032-110.

Thanks,

Bill Mitchell