Learn the importance of being exposed to the right financial management systems at the right time…
In life we all have unique environments, exposures, experiences and the way that we pursue excellence, and it is important that we learn all that we can from those x-factors so that we can direct our future actions in a manner that is more beneficial for ourselves and those whom we come into contact with on a consistent basis.
In this discussion TheWealthIncreaser.com will focus on the importance of why you must be exposed to financial systems in general–and exposed to financial systems that you can readily learn and apply in your daily life to be more specific–that will truly take you towards your goals that are most significant and meaningful to you and your family–in a very efficient manner.
We all want to do things that bring us joy, however from time to time we must dive into topics that are uncomfortable. For many, personal finance or the management of their finances can be a burdensome or uncomfortable process, however it no longer has to be!
By being “exposed” to the right financial knowledge you can cover all of your bases and have a comprehensive approach in the management of your finances that can lead to you building wealth more effectively at the various stages in your life so that you can do more of what brings joy into your life.
What you need to know financially
You need to know just what does personal finance entail–and how broad or wide a net you must cast–as most people have no idea of the magnitude or lack thereof, of financial planning in an all-encompassing way.
In easy-to-understand format, you must know how to:
By properly utilizing personal financial statements you can open up a new view of what you can do to make your dreams come true. Why live your life in confusion and strife when you can choose to truly enjoy your life.
You can use a personal cash flow statement to learn where you now stand with your finances on a monthly basis, you can use an income statement to determine where you stand on a yearly basis, and you can use a personal balance sheet to determine where you stand as far as your assets, liabilities and net worth are concerned.
By having exposure to these statements, you put yourself far ahead of the average consumer.
However, exposure “without action” will lead you where you are currently at!
Do you know that you must keep negative information off of your credit report at all times in the most effective way that you can based on your financial ability to do so and your credit awareness that you will soon learn.
By understanding that:
Negative information must be kept off of your credit report
Utilization of your available credit must be at a reasonable level
Time length of open accounts is an important concern
Type of accounts are important
Inquiries must be kept at a reasonable level
You then put yourself in position to manage your credit in a more effective and efficient manner at the various stages of your life.
Estate Planning/Wills, and
You must understand all of the above from a position of strength, meaning you are in control of how you manage your Insurance, Investments, Taxes, Emergency fund, Education planning, Estate Planning/Wills, and Retirement planning– not others who most likely don’t have your best interests in mind!
By just being exposed to the 3 steps above–you are far ahead of the average consumer who for the most part has no real understanding of what personal finance encompasses–let alone the ability to use the knowledge of what personal finance encompasses to their and their family’s greater benefit.
What you need to do financially
Now that you have knowledge of what you need to know (pun intended) you must take the right steps and put into action the results of your cash flow statement or budget at a minimum. Whether you have a monthly surplus or a monthly deficit you are now in position for more effective planning from this point forward.
If you are comfortable with numbers, you may also want to create an income statement and balance sheet so that you can determine your net worth at this time–and improve upon your net worth and the building of wealth in the coming years.
The creation of a “properly funded emergency fund” will go a long way in helping you increase your net worth in future years!
You must also gain mastery over how you manage your credit by knowing how to utilize your knowledge of the 5 credit factors–as that knowledge can prevent you from getting into a difficult financial hole where climbing out is difficult or highly unlikely (you may need to consider filing bankruptcy as a real option).
Finally, you must know how to select the appropriate insurance products and investment options along with doing, tax planning, education planning, estate planning and retirement planning in a manner that is more advantageous for you and your family–not creditors or others who have no real concern for your lasting success.
The importance of reviewing what you do financially
Now that you have a comprehensive overview of your finances and you have been exposed to all that you need to know (and do) to work toward making your wealth building goals come true–you “must” be aware of your need to review!
You must review your personal finance statements, including your emergency fund to make sure you are adequately protected. You must review your understanding of the 5 credit factors so that you can make the right or at a minimum–a good decision as it relates to your use of credit.
You must review your insurance, investments, taxes, education planning, estate planning/wills, and retirement planning on a routine basis to see where improvements can be made.
Regardless of your past experiences, the environment in which you grew up in–and the positive or negative exposures in your life, you are now in position to change all of that to your advantage–and by being exposed to personal finance in a way that you can readily understand and utilize–you are now ready to take your prize. Use your vision to see–and continuous review to reach toward excellence and who you were put on earth to be!
It is important that you are exposed to all areas of financial planning that you need to do throughout your life at the earliest time possible. By doing so you can get out in front of potential disruptions and proactively plan your future in a manner that is more advantageous for you and your family.
You can put yourself in position where you can live with confidence and the success that you desire will not only occur–it will be expected because you have put in the required work in advance! You no longer have to approach your financial future with doubt, uncertainty and a feeling of “can’t do”–as by visiting this page and site you have positioned yourself in a major way to make your dreams come true.
Your willingness to be exposed to the right financial management systems at the right time could be what sets you apart and leads to you achieving many, if not all of the goals that now reside in your heart.
All the best as a result of your willingness to be “exposed to financial systems” that can lead to lasting success…
Copyright© 2014–2023—TheWealthIncreaser.com—All Rights Reserved