Category Archives: Make Money

How to Make Money – Cash Management

By Ben D Anderson

People often ask themselves, how can I make more money? Rarely do they realize that proper cash management can go along way to building wealth. We’ve all heard it before, right, a penny saved is a penny earned; well let’s take a different perspective on that concept. Let’s say, the less money you need to earn the more you can make, and faster too. This applies to anyone in any business venture.
One of the greatest secrets I discovered about millionaires in my search for how to become one myself was that, contrary to my naive belief, they do not thoughtlessly spend away their fortune on frivolities. Spending always comes after calculation. After carefully deducing the value, competitors prices/options, intrinsic value if any of owning the item, and timing. Only then is a purchase made. Much different than the wanton spending which is commonly attributed to the wealthy!
These same concepts can and must be applied to your own accounts before any serious considerations of amassing great wealth can be made. I challenge everyone that asks for my financial advice to first and foremost gain absolute and precise control of their accounts and spending habits. For instance, how do you expect to gain financial ground if you can’t even recite your current available checking balance? Or tell me what, EXACTLY, your monthly bills total? These are two of the most basic examples of information you must habitually know.
Once you have this knowledge, you can start to work on trimming expenses, erasing all unnecessary costs, and removing as many monthly bills as possible. This takes sacrifice, dedication, and honesty. Most of us can live without a cable bill and definitely could use that extra money. Yet how many do? For the individual truly motivated to take action and learn how to make more money then these simple sacrifices aren’t too much to ask at all. After all, it is only temporary.
The first big question you have to ask yourself is, what is it I want most? If money is your honest answer, than the next question to ask is, what can I live without? Do I really need the latest greatest smart-phone and data plan? Do I really need to buy prepared food or could I buy more food and cook it myself at home? Do I really need to buy that twelve pack on Friday and watch cable all weekend?
If money is your true goal, then you will do whatever you can to save your money. If you have been living on a $2,000 per month budget and you can trim off even $300 per month. You will have gained $1,200 per month. Money for saving now and later investing. To speed up the process work as much overtime as possible or take on a second job on the weekends or after work part-time. Remember, the money you trim only increases your hourly wage essentially.
Start adding OT and you’re well on your way to making enough cash to invest in any venture you want. Or getting out of debt if that is your goal. Take one year and cut out everything you can. If you can ride a bike to work sell your car along with anything you don’t need. Work as much as you can and stop paying for anything you don’t need. Set a goal such as making $10,000 as fast as possible doing only what’s outlined in this article and putting it in a savings account. It takes getting used to but is worth it when you start gaining thousands. It is easier than most people realize. Question is, will you DO it?