mizanation
Senior Member
- Joined
- May 8, 2006
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anyone have any money tips?
here are a few that have helped me...
* create a company of which you have sole ownership. preferably an LLC, depending on your situation. (this only helps you if you do work outside your regular job or are self-employed).
* get a good accountant. not an expensive one, a good one.
* completely separate personal money from business money (different bank accounts, no transferring between accounts).
* expense as many business expenses as you can legally--ask your accountant for non-obvious expenses.
* for at least a few months, keep track of every single dollar you spend. you will find that you are wasting more money than you think. cut down on wasted money. do this from time to time to streamline your spending.
* start making passive income, even if it's a small amount of money a month. gradually add more passive sources of income. before you know it, you'll have a steady stream of money coming in that you don't have to work hard for.
* bring a lunch to work. you'll be spending 3 bucks a day instead of 10.
* drink at your friend's bar. even if you tip 'em a lot, it'll still cost less than paying full price.
* don't pay for anything that you can barter for with your skills. for instance, instead of paying a hair stylist for cuts, make a website for her and get free service. you'll get the experience of making a website, free cuts and plenty of work referrals. just an example, but you get the idea.
would like to hear anyone else's tips!
here are a few that have helped me...
* create a company of which you have sole ownership. preferably an LLC, depending on your situation. (this only helps you if you do work outside your regular job or are self-employed).
* get a good accountant. not an expensive one, a good one.
* completely separate personal money from business money (different bank accounts, no transferring between accounts).
* expense as many business expenses as you can legally--ask your accountant for non-obvious expenses.
* for at least a few months, keep track of every single dollar you spend. you will find that you are wasting more money than you think. cut down on wasted money. do this from time to time to streamline your spending.
* start making passive income, even if it's a small amount of money a month. gradually add more passive sources of income. before you know it, you'll have a steady stream of money coming in that you don't have to work hard for.
* bring a lunch to work. you'll be spending 3 bucks a day instead of 10.
* drink at your friend's bar. even if you tip 'em a lot, it'll still cost less than paying full price.
* don't pay for anything that you can barter for with your skills. for instance, instead of paying a hair stylist for cuts, make a website for her and get free service. you'll get the experience of making a website, free cuts and plenty of work referrals. just an example, but you get the idea.
would like to hear anyone else's tips!