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have you ever been tought how to manage money by your parents or at school or even whilst in formal education? Do you think it’s ok to pay everyone else first but you be left with the smallest share, if anything at all? Learn the real way to budget, just how millionaires do.
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Personal finance is hard enough as it is. It’s absolutely daunting to doing the whole thing by ourselves, especially if we’re not very well-versed in keeping logs of earnings and expenses, calculating our own net worth, reducing debts, and managing our finances by ourselves. We could all use a little input from experts, especially when it gets really confusing and we don’t know where to start. Here are several finance book recommends:

Total Money Makeover by Dave Ramsey

Dave Ramsey is a great material for looking up information about personal finance. There are hundreds if not thousands of people who are inspired to get their finances straight all because of the Total Money Makeover book.

The book also tackles debt reduction by giving great advice on how best to approach this problem and gradually take shed off the ball and chains to their finances. It is especially for those who are just starting out.

The unique thing about Dave Ramsey’s book is that it includes Christian thinking and values, as well as bible teachings that he relates to money. If you’re the person who isn’t bothered by religious thinking seeping inside a finance book then this book is for you. There are Dave Ramsey fans accumulated over the years, sticking by to what they learned from the publications to help them get over their financial difficulties.

Five Years to Financial Freedom by Morris Kaplan

The book is unlike any other because it presents a somewhat clearer and more defined rule on how to fix your finances over time.

It helps you answer the questions you ask when you find yourself in a financial constraint. It tackles how people spend more than they earn, how to change jobs, how money affects your relationships. This book helps you realize several aspects of your life that money plays a part of.

It doesn’t promise that you’ll get rich overnight, but what it does is give you a huge resource of information on how to clear all bad debts, paying for mortgage, start investing, branching out, looking into tax benefits and saving money.

The Wealthy Barber by David Chilton

Some people have noticed that this book is one of the most well-loved finance books of all time. The Wealthy Barber provides sensible advice, deep insights into finances how it affects our lives. It is incredibly easy to take in as the book is written like a story or a short, light novel.

The book is always recommended for those who are venturing out in understanding personal money management, because even if you don’t have much background on finance and accounting, it will not be difficult for you to understand.

The Wealthy barber guides the reader to implement the steps in managing their money by thinking of what we truly want in life and how we can get it. It also has a great chapter on getting rid of materialistic thinking, getting spending under our control and minimizing our debts.

For the Young, Broke and Fabulous by Suze Orman

Suze “Suzy” Orman is a famous household name. You can see her in the news, hear her name on the radio, and her face is plastered on countless publications. She is famous for her personal finance books that are sold worldwide and known for her straight-talking and no-nonsense approach to money and debt.

The book “For the Young, Broke and Fabulous” has garnered a lot of following because the message hits the younger generation, targeting their lifestyle and giving out advice on getting started in the workforce, making the best out of your first few years on the corporate ladder, and following your dreams without sacrificing your future. Suze Orman discusses how the young generation has so much potential in them and how they can save, eliminate debt, and have enough to experience life at its fullest.

Rich Dad, Poor Dad by Robert Kiyosaki and Sharon Lechter

The book has changed thousands of its reader’s outlook on how they lead their life. Rich Dad, Poor Dad is all about acquiring financial knowledge and know-how. It illustrates to us how our perspectives about what it takes to be successful in our own rights. It provides practical guidelines including how to build wealth and buy assets, avoid debt and liabilities, planning for the future while living your life today, and how to go rich by living within your means.

Rich Dad, Poor Dad is full of amazing insights about money in general. Learning about your next step, and knowing the difference between an asset and a liability.

Dave is computer programmer and loves saving money by using coupons and promotional codes. He offers many of these coupon codes on his web site

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A few increase your financial iq products I can recommend:

How to Buy and Manage Your First Rental Property.
Written for the beginner but has many useful ideas, forms and information for the experienced landlord. Ideal for Canada and U.s. but applies to any English speaking country. A step by step guide to increase your wealth through real estate.
How to Buy and Manage Your First Rental Property. you develop Business intelligence through financial literacy. Where money comes from in the business accounting structure and where it flows through business, part one of a 3 part series on identifying the blood (Cash Clots) clots in your business. http
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We all admire successful corporations. Why wouldn’t we? When it comes to managing their cash flow, successful companies are very meticulous. Even when these businesses are on rough roads, they still make sure that payroll continues to be met, bills and debts are paid, and profits are made. If you think about it, managing your own finances is quite similar to the monitoring of finances businesses do. Yet, you probably rarely consider applying the techniques that these successful companies do in order to keep a strong and steady cash flow. Perhaps it’s time that you start emulating the cash-flow techniques of these companies. Here are some common of those that can help you manage your own monthly cash flow.

Pay late, but not later than the due date

Notice that when a vendor or supplier sends an invoice to a company, the company does not pay the required amount immediately. Instead, it will often ask for a net 30-day term from the supplier. Part of this may be due to accounting controls, but for the most part, it really involves managing cash flow effectively. Buying some time to pay off debt can be advantageous to companies because instead of paying right away, they can invest a big chunk of their reserves in a bank’s 30-day time deposit, for instance, and use some of the interest earned to pay off the debt. In this manner the company would be able to both pay the debt on time and also earn a little extra money.   

This clever little technique can be done with your monthly credit card bills and other forms of credit. Make sure you are fully aware of your credit cards’ due dates so you would know how to manage your cash flow. If the bill comes up and you happen to have the money to immediately pay for it, try not paying right away. Instead put the money in a time deposit or savings account to earn some interest from the time you received the bill and the bill’s due date. Then pay the bill on exactly the due date along with some of the interest you’ve earned. You’d be surprised with how much you have saved. You won’t get rich by earning the interest, but it is rewarding to be paying less than what you really owe.

Do some finance forecasting

All businesses require a thorough financial reporting and forecasting. These reports are so important to any company because they evaluate past financial performances and present future expectations. As an individual who does the same, you can manage your monthly cash flow by creating some sort of a finance forecasting yourself. Review your past cash positions and try making budgets and expectations in coming months. Include all monetary factors that are coming in and coming out. If you are confident that you will earn a certain amount in the next 6 to 12 months, you can plan your allowable expenses for the same period. Making forecasts is also beneficial in that you can constantly review them as you go on, as well as make comparisons from the actual results with your anticipated results. This will eventually teach you the discipline you need in order to take control of your money.

Always have reserves

This goes without saying, but a lot of people often forget to have some sort of emergency fund. Whether for hospitalization, investment opportunity, or any other emergency, this is crucial because you’ll never know when you would need funds. After all, cash is king. Make sure to keep some money readily available every month.

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Article from Randy Gage and Eric Worre partnered with Agel Enterprises introduce an educational value-based MLM prospecting system which is teaching people about cashflow with ‘Agel Cashflow Classes’ Where most MLM companies and teams are still busy pitching their business opportunity to the masses or figuring out how to build the business online, Randy Gage and Eric Worre of Agel Enterprises have taken the best of both of these concepts to create a new educational system which is teaching prospects about cash flow with both on and offline cashflow tools. Randy Gage a Network Marketing leader and prosperity guru, famous for his MLM training systems has used his experience to create business tools with an educational foundation using the Rich Dad, Kiyosaki concept of creating cashflow. With a focus on introducing more people to the Network Marketing model and expanding the Randy Gage Team at Agel Enterprises the team has recently released a complete MLM system comprised of two education dvds and a cashflow worksheet which are available both as hard copies for cashflow classes, and online for virtual cashflow classes. As Agel expands globally into over 50 countries it is essential in this new economy not only to introduce people to a business model that may be completely new to them but to also educate them as to why this business model is effective. Robert Kiyosaki and the Rich Dad books have done amazing things for the
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Once again, the key difference that sets people apart in their ability to create wealth is not just how much they earn but more importantly, how they manage the cash that flows through their hands.

The rich manage their money very differently from the average Joe. They have a very different set of habits in the areas of saving, investing and cash spending. To become a millionaire, you must learn and adopt the cash flow management habits of the rich.

You have to first understand the concept of an ‘asset’ and the fact that some assets help you accumulate wealth while some other assets reduce your wealth. Assets are physical or intangible items that you own. They can be classified into Positive Cash Flow Assets (Assets Cash+) or Negative Cash Flow Assets (Assets Cash-).

Sometimes to purchase an asset like a house or a car, you have to take a loan from the bank. When we borrow money, we incur a liability. As you know, liabilities incur the extra expense of interest payments you must make.

Positive Cash Flow Assets (Assets Cash+) are assets that provide you with positive cash flow and/or capital appreciation even after deducting interest expenses from liabilities incurred.

Examples are stocks, bonds, profitable small businesses, properties with positive yield, intellectual property, fixed deposits and so on.

Negative Cash Flow Assets (Assets cash-) are those that depreciate in value and/or incur additional expenses such as maintenance or interest payments for liabilities incurred.

For example, if you bought a house and rented it out for ,000 a month but had to pay a mortgage interest of ,200, it would be a negative cash flow asset. A house which you buy to live in, or a car which is purchased for personal use will obviously not generate any form of income. They only incur negative cash flow and should be considered as Negative Cash Flow Assets.

Bearing this in mind, let’s see how the the rich manage their cash.

So how do the rich manage their money? How do they achieve a level of wealth where they do not have to work if they choose not to?

Those with the wealthy mindset adopt a ‘earn, save and spend’ habit of managing their cash. They set a specific target of how much they want to save every month, usually 15-20%. They deduct this savings from the income they earn and spend the rest.

Unlike those with the ‘middle class mentality’, the rich mindset motivates them to take their savings and invest in Positive Cash Flow Assets that will generate returns and appreciate in value. They would rather put their money in carefully selected stocks, mutual funds and businesses than to splurge on the latest LCD Plasma Television.

Although they may buy a few luxuries to pamper themselves, their Positive cash flow assets far outweigh their Negative cash flow assets. As a result, the additional passive income generated from their investments outweighs whatever expenses they incur on these ‘extras’.

They continue to diligently save and invest until their positive cash flow assets begin to generate sufficient cash flow to meet and even exceed their monthly expenses.

When this is achieved, they are at a level of financial freedom where they can choose to stop working and sustain their current lifestyle indefinitely. This is the level that you must aim to attain within the next few years.

An important thing to know is that it doesn’t always take money to create positive cash flow assets. Now that you know what you must do to achieve ultimate wealth, it is time to take action to make it all happen.

Adam Khoo is an entrepreneur, best-selling author and a self-made millionaire by the age of 26. Discover his million dollar secrets and claim your FREE audio CD program ‘7 Steps To Financial Freedom’ here.

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Cash is king right? When in business …. ANY size business …. managing your cash flow is key to survival, not just growth. So …. how do you best go about ensuring you have your ducks in a row? Read on folks …. and pay attention.

Before you consider improving parts of the process, it’s important to bring the entire process under control. The process is the simultaneous timing of receipts and payments. How do you know if you’re in control? For most companies you could say you’re in control if you can predict cash balances within 10% accuracy, over the next 30 days.

Any business can get into control fairly easy but it takes a little discipline. Start by preparing a realistic schedule of receipts summarized by week. Typically these are outstanding customer invoices. Schedule receipts based on customers past payment patterns not you terms. Don’t kid yourself, in this environment plan for delayed customer payments.

Next prepared a weekly schedule of payments your business will be making over the next 30 days. Be sure to include all your expected payments such as payroll, payments to suppliers, installment loans, etc. Rank payments by penalty to pay beyond terms.

Finally, starting with your current cash balance, prepare a weekly schedule that adds your receipts and subtracts your payments. This will provide a weekly projected cash balance.

Update the forecast every week using new cash balances. In weeks where receipts were below forecast you have to consider slowing down your payments. When you see a heavy cash receipts week coming near you should attempt to confirm that customers will be paying as you are planning.

Once your cash management is under control here’s a few ways to improve the cash flow:

1 . Calling customers in advance
2. Make collections a priority with your sales team
3. Corrected invoices slow receipts. Monitor invoice corrections closely. Make sure invoices are accurate and in format acceptable to the customer
4. Reduce credit limits for customers paying slow due to their own cash problems.
5. Stick to your payment schedule for major items
6. Be reliable. Communicate clearly and in advance to all stake holders when moving off agreed terms. This includes employees, lenders, shareholders, and suppliers.
7. Include your management team in the process. You’ll need their help and support to be successful.
8. Control on what you can control.
9. Delay unnecessary spending indefinitely. Ask yourself if the expenditure is not made will it kill the company in the next three months? Three months later if you’re still alive, ask the question again.

There you go …. now you have a plan. It’s up to you to put it into action.

Michael is the owner of FreedomFire Communications …. and author ofBroadband Nation. Michael also authors Small Business Resources Cafe with resources, tools, tips, & insights for small businesses. The Cafe is always open. So …. grab a cup of Joe & sit awhile!

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