Do you know that according to Parkinson's Law, expenses will always rise to meet income? Put in simple terms, no matter how much money you make it can never be enough. This then tells us that the only way to be wealthy and have enough reserve is by disobeying this law.

This can be done by learning how to manage money in order to have a reserve. This reserve is what you will use to create wealth. In the Managing Money series, we are looking at salient truths that if followed religiously can help you achieve your aim of building sustainable wealth in record time.



Managing Money 2.6: 'The journey of a thousand miles begins with a step.' A financial AUDIT gives you a snapshot of your current NETWORTH. This serves as the foundation for your financial PLAN.

Action Point: Do a FINANCIAL AUDIT to know how much you are worth.



Managing Money 2.7: A major tool in managing your money is the keeping of FINANCIAL RECORDS. Proper documentation will save you from embarrassment and can also be a leverage for extra income. Maintain a FILE for all your financial transactions.

Action Point: Start keeping proper FINANCIAL RECORDS for ease of reference.



Managing Money 2.8: 'Everything in life that works has a pattern.' The rich have discovered a CASHFLOW PATTERN that works and have stuck to it. You must learn to master your cash flow pattern if you want to build sustainable wealth.

Action Point: Master your CASHFLOW PATTERN so you don't spend anyhow.



Managing Money 2.9: Do you know that TAXES favour the entrepreneur more than the employee? The employee pays TAX before he pays for his expenses. The entrepreneur on the other hand, only pays TAX after deducting his expenses.

Action Point: Create your own Corporation to maximize your TAX ADVANTAGES.



Managing Money 2.10: Taking an INSURANCE policy protects you and your assets against risks and emergencies. While nobody prays for them, they are uncertainties that cannot be predicted. Your INVESTMENT in INSURANCE can save you a whole life's fortune.

Action Point: INSURE your assets today so you don't lose them overnight.



Don't just read and know these truths; take ACTION today!