Robbing Peter or Paying PaulKeep your rental income from property investments separate to personal expenses – Don’t rob Peter to pay Paul. If you are doing this, you need to talk to Think Money.
Working at Think over the last 6 months I have seen many clients come in completely overwhelmed with their financial situation, myself included. Most of the time there is no separation between the investment side and the personal side financially. Sometimes it is due to having no system or plan for dealing with income and bills. This causes a huge amount of stress for everyone concerned. It can feel like no matter how much you are earning, it’s still not enough.
One of the biggest life changing strategies is to learn how to do your banking differently, I did and it changed everything. By doing your banking a much smarter way, far smarter than what the banks teach us, you can save thousands of dollars in interest and even more importantly release some of the stress and strain of financial pressure which is really just a lack of knowledge and can be cured by doing your banking a better way.
Working with Harri in our office to be focused on your budget, know where your money is going, what to pay and when, can lift an enormous amount of pressure off your shoulders. It really is as simple as keeping your personal living expenses away from your investment and/or business expenses. Just as importantly, having a clear picture of where your money is going can make huge inroads into freeing up cash.
If you have investment properties, or you’re feeling like your credit cards are in control of you instead of you being in control of them, come in and have a chat to Chris.
We can look at your current banking setup and in one short session can blow you away with how easy it could be changed.
If all that stands between being cash flow positive or being stressed is a lesson in good banking, why would you delay?
Lynn Levitt – Think Money Wealth Coach and Goal Mapping Expert.