Things Entrepreneurs Can Do To Keep More Money

Starting your own business can be straining on your finances, especially if your used to living off of larger amounts of money, eat out often, or you just must have the latest and greatest of everything (cars, electronics, video game systems, whatever).

You can try getting rid of that pesky cable bill and replace that time with more productive things. Or you can just learn some simple money management techniques that will allow you to keep more of your hard-earned cash.

Readers Digest had an interesting article some of the things you could do to take control of your finances. Many of the tips can be translated over to aspiring entrepreneurs since finances are a very important part of starting a business (for yourself and the business).

From the article
“DO refinance your mortgage if your rate is more than two percent higher than current rates, and you have less than two years until maturity, says Aileen Pollock, a Toronto financial advisor. Check with your mortgage holder to determine the penalty for getting out of your deal…

“DO pay off your consumer debt before investing. It’s like earning a re-turn that equals the interest charged on your debt…

“DO pay yourself first. “That’s my most important rule,” says Alison Keene, a senior vice-president and managing director of BMO Nesbitt Burns in Calgary…”

Read the entire article at Reader’s Digest

-E

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