Understanding financial situation...
clippings by gerwin hontiveros
          Encourage your child to earn.  The money a child earns on his own is money he/she will value most. Take a moment to inventory the contents of your closet. If possible, organize ALL your clothes so you know what you have and don't have. This may save you from purchasing an excess of unnecessary clothing.
          If you're surprised by the huge amount you owe when you get your monthly statement, you need to monitor your spending more closely. You should be able to approximate your monthly statement.
         You should always try to trade for something before you buy it. Barter deals usually require no money. Although sometimes you may need money to offset the value of the goods or services being traded.
         Most of us think that we don't have enough time or money. In reality, it's not how much we have, but what we do with what we have. It's generally cheaper to buy a whole chicken than one that has been cut up for you, so cut your own meats. Cut your own beef into cubes for stew. One tip that will surely save your money is to split adult portions instead of buying kids' meals at restaurants.  Unless of course if the adult or the kid has a big appetite.
Involve the entire family in your budgeting.  Let them know where and how to save.  This will help you a lot in decision making on where to cut off spending.
         If you're in a tight budget, one secret to cut your spending is to   keep credit cards somewhere other than in your wallet. Impulse buying may somewhat be avoided.
Consider a bank that is already convenient to your everyday activities. Look for banks that are easily accessible as you drive to and from work or while you run your usual errands. Compare interest rates and service charges between banks to make sure you're getting the best deal.
         Avoid trying to forecast your expenses too far into the future. Doing so can result in inaccurate budgets and overzealous spending. Use 10% less. If you can stretch your shampoo and conditioner, laundry soap, dishwashing detergent etc. just by 10%, you will meet your weekly savings goal. Haggling over a price can be a fun way to get the best deal on something you want. Select the item you want and determine the maximum price you are willing to pay for it.  Start by offering 40 percent to 50 percent less than your maximum price.  Respond to counteroffers from the merchant by increasing your offer in small increments until you reach your maximum price.
         Use caution when approaching an ATM machine at night, especially if the area is poorly lit or hidden behind trees or buildings. Take someone with you if possible, or choose another machine in a safer area.  Cancel your transaction and leave the location if you see any suspicious activity.
         Determine your immediate minimum monthly income requirements. Look over your expenses for the past 6 months to one year. Determine what you can do without and what you need. Establish a routine to balance your checkbook once a week. Set aside time before you watch your favorite weekly TV program or as you do a certain chore, like laundry.
Most of us know that we should have a clear idea of our financial situation (or predicament, as the case may be). For many, the prospect is too overwhelming and we do not know where to start, so we don't. If the process is broken down into steps, it becomes more manageable.
Avoid withdrawing money from the ATM machine more than once a week.  Withdraw only what you think you'll need for the next week and don't go back until the same time the following week. You'll save on bank fees, avoid impulse spending and spend less overall.  Unless of course its an emergency. If you can easily add supplemental products or customized versions at the same profit margin, your overall profit should increase. Each deposit in your savings account deserves a checkmark on the calendar and a hug from your partner.  Document it.  Celebrate it.  Not only does it feel good but it will keep you going and strive for more success.
          Listen to what you tell yourself about your life situation. Pay special attention to your beliefs about money. If you find you have pessimistic or negative beliefs about money ask yourself, "What's another way of thinking about this?" or "What do I want to create in my life?" Would you rather be right or would you rather be happy?
Your future profits will likely come from a different source than today's profits. Just make sure that you've got the time and the space to intuit and feel where the future of your business is. If you're too busy administrating and managing, you'll miss the future.
While it’s fun to daydream about being rich, it takes courage and hard choices to decide exactly how much money you want and how you are going to earn it.  Work and work hard to achieve your goal.
          Making profit is the bottom line of every business.  Remember that profit is the result of doing things right rather than the purpose of the business.
The greatest thing about human  life is by changing the inner attitudes of their minds, can change the outer aspects of their lives, and this will definitely attract prosperity.
Understanding and knowing your financial situation at all times is a great way to increase your savings and cutting down on your cost.  Balance your checkbook every time you issue a check or received bank statements ; Know the total value of your assets ; and know your total liquid worth. Rather than let worries about what you do not  have paralyze you, take actions based on the resources that you already do have. If you spend a lot of time worrying about what is missing, it becomes even more difficult to act on, or you can even miss the opportunities that will create wealth for you.
         A reminder when you're setting profit margins for your product.  It is better to set your prices low with an average profit margin and sell in quantity rather than setting your prices and profit margin high. You may be able to sell a few, but your customer may not come back.
Set a high net profit goal for your company.  By setting such an aggressive goal, you'll feel pressed to create radical new ways to run the business.
Cut overhead by automating almost everything : Accounting, reporting, voice mail, ordering, fulfillment, customer service, and sales.
          Other than money, remember that happiness, abundance, loving, caring, sharing, learning, opportunity and good health are also considered wealth. Here is some tips that can give you some extra cash : Quit smoking ; empty your pocket or purse change daily into a jar ; bring own food to work once a week ; eat one fewer dinner out a month ; junk those junk foods ; conserve water and electricity. 
          Profit is more of a requirement of a business rather than goal.  Set your goals and implement them properly.  Money will surely follow. If you can easily add supplemental products or customized versions at the same profit margin, your overall profit should increase.
Cost-cutting is not simply reducing your expenses. You should also examine the nature of expenses and how expenses inter-relate with sales, inventories, cost of goods sold, gross profits, and net profits. For a better cash flow, its better to have 3 budgeting plan.  The first plan forecasts high sales, low expenses and everything going better than expected. The second is based on achievable sales and honest expenses. The third specifies how to survive if everything goes wrong.
          A recent survey shows that 21% of manually prepared tax returns contain errors, while computerized tax software resulted 2% error, it can also save dozens of man hours each week that 21% of manually prepared tax returns contain errors, while computerized tax software resulted 2% error, it can also save dozens of man hours each week.
The most important thing in any business is its ability to collect cash and pay bills as well as pay its employees. If you issued a post dated check that is due in a weeks time, it may be a good practice to consider it withdrawn before the actual date.  This will prevent you from thinking that you still have that much money on the bank.  But in case of emergencies, throw away this tip.
           Write down the items you spend your money on. Then examine your list and try to make adjustments you can live with. Small sacrifices add up to big savings over time.
Before you pay a bill or buy something, put part of your paycheck into an interest-bearing savings account ( preferably 10% ).  If your employer offers direct deposit, have money sent directly to a savings account before you receive your paycheck. The theory here is you won't miss or spend what you don't see or what's already in savings.
Plan a budget and stick to it.  Write down the items you spend money on. Then examine your list and try to make adjustments you can live with. Small sacrifices add up to big savings over time.
          In getting a loan, Banks judge your ability to repay a loan based on the Six C's : by Capital, Character, Cash flow, Collateral, Capacity to repay, and Credit history.
Before buying your dream house, calculate what you can afford.  A general rule of thumb is two to three times your annual household income minus debts.

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