Hedge Fund Market Wizards by Jack Schwager
I just read the Hedge Fund Market Wizards by Jack Schwager – you might question why I read this book and what it has to do with Build my Balance Sheet – well as I said in a previous post I wanted to find out more about Ray Dalio and there was a chapter on…
Money Master The Game by Tony Robbins Review
I read Money Master the Game – 7 simple steps to financial freedom which was written by Tony Robbins who is a well know mentor of many famous people Without getting into all the detail and what I got from the book is the following which I feel is the essence of what the…
Now that I have have my budget done – what’s next
So far I have an accounting system in place and have captured my budget into the accounting system – so what is next I can now hone in on areas of expenses that need to be improved – and see how much cash is left over to improve my Balance Sheet Any cash left over…
How to use Accounting Software to get your Finances Organized
I have started using Saasu Account Software to organize my finances and so far I have found it very easy to use There are very good training videos on the Saasu Site so even if you are not an accountant you will be able to set up your Balance Sheet and Income Statement very easily I followed…
Step 1 – How to start automating your finances
The starting point of getting my financial information organised was to try and track my expenses and income – yes the dreaded Budgeting word I have done comprehensive research on how to do this – many of the financial bloggers tell you to do a spread sheet and track you expenses – this is…
What can a 50 something year old dad teach his children to have a secure financial future?
I have been thinking of writing this subject for a while now – I have been doing much reading about the ways to have a secure financial future and most important I have been looking at my own financial position especially where I am right now I looked at my Balance Sheet and…
Entrepreneurial Qualities you will need
Honesty This is very important in life is that anything you do you must be honest and not do anything to hurt other people especially when it comes to building your business as you do not want anyone else to do this to you that is be dishonest with you Let me tell you a…
Balance Sheet and Income Statement defintion
A little introduction to a balance sheet and income statement When your mom and dad earn money from their jobs or their business, it is important for them to know how much money they have coming in each month so that they know how much they can spend. Once money has been set aside for…
Liabilities
Liabilities reduce the value of your balance sheet All you need to know is that liabilities takes money away from you and it is something that you will owe. Again try and look around you to see what things take money away from you. Ask your parents to help you but a simple example would…
Concept of saving and investing
Because you are young – you have a very big advantage and that is you have a longer time to save money and then invest that money into different asset classes (don’t worry I will explain this later) So if you start saving early in life then the what is called the magic of compound…
Assets build your Balance Sheet
Assets put money in your pocket and build your Balance Sheet All you need to know is that assets will give you money and the more you have – the more rich you will be- yes that simple. Try and you look around you and see what things give you money (excluding your parents). Things…
Increase your financial vocabulary -but how and why?
The most important thing you need to do is to absolutely commit to learning the financial vocabulary and then persist in achieving this. Let me explain – the very first time you learnt something new – you would have struggled e.g. as a baby learning how to walk or eventually learning to ride a bike…