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Online Make Money Business OpportunitiesAbout Managing Your Money STEP 3.3
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It is important to get control of your money and keep control of it, so you can reach your financial goals, whatever they might be.
In STEP 3.3 you'll learn how to control the money part of your online make money business opportunities with ease. It all starts with managing your business and personal finances. It's time to investigate 14 strategies that will assist you in optimizing your online business finances and personal finances.
Taxes
First, you have to (1) pay your fair share of taxes.
Paying your taxes may seem like strange to start creating unlimited wealth with your online make money business opportunities. But it isn't. Pay your fair share and you'll feel in control.
Throughout your online business career, you must learn the necessity to pay taxes.
But don't pay more than you should. By all means take advantage of the incentives.
You could save between $1,000 and $10,000 in taxes each year just by managing your online business finances and maximizing your deductions.
Live on Seventy Percent Of Your After-Tax Income
After you pay your fair share of taxes, you must learn to (2) live on seventy percent of your earnings.
A good book to read on this 70/30 rule is The Richest Man in Babylon, by George Clayson.
The seventy percent you will spend on necessities and luxuries.
But what about the thirty percent?
Give 10 Percent To Charity
(3) Set 10 percent of your after-tax income aside for giving. What you give away comes back to you tenfold.
In the Old Testament God commanded his people to set aside a tenth of their income to be returned to the work of the Lord. This is called tithing.
"Bring all the tithes into the storehouse.
That there may be food in My house. And try Me now in this.
(Says the Lord of hosts.) If I will not open for you the windows of heaven. And pour out for you such blessing, that there will not be room enough to receive it"
- Malachi 3:8 -
That there may be food in My house. And try Me now in this. (Says the Lord of hosts.) If I will not open for you the windows of heaven. And pour out for you such blessing, that there will not be room enough to receive it" - Malachi 3:8 - |
Invest 10 Percent
The wisest investment of all is an investment in yourself.
(4) Invest in your business, to engage in e-commerce, even if only on a part time basis.
Invest your 10 percent only in third-party companies (stocks) if you know about these companies from your own personal experience.
Invest 10 percent For Safety
The last 10 percent can offer you peace of mind by (5) preparing you for the "winters" of life.
This 10 percent is your back-up plan to support yourself and your family in the event of a sudden unforeseen shift in your income and online make money business opportunities.
Other Important Personal Economic Wellness Strategies
(6) Eliminating your debts is one of the greatest gifts you can give yourself on the road to financial freedom and more online make money business opportunities.
(7) Keep up with your recordkeeping and reduce the task of tax preparation.
(8) Don't go full time too soon.
(9) Find an accountant who specializes in online and home-based business accounting.
(10) Monitor and control your costs as well as your earnings.
Control Your Overall Wellness
Finally, manage your online business finances and personal finances by controlling your overall personal wellness.
Your personal economic wellness is directly related to your physical, social, mental and spiritual wellness.
At the core of your financial well-being and online make money business opportunities is your physical health. (11) So stay fit and healthy!
Your social health is important as well. (12) Work your marriage, family, and business relationships!
And you won't financially prosper on your online make money business opportunities without an ordered mind. (13) So work on your mental fitness.
(14) Finally, also take care of your spiritual health!
Also spend 10 percent of your workday in meditation, to reflect, think and tap into your creativity.
For me personally, the act of being an online home-based entrepreneur is a theological act. It is a belief that my loving God has given me the talents to go out (online and offline), make money and take care of my family.
Actions For Your Financial Well-Being
In order to optimize your online business and personal finances, take action.
1. Review each of the strategies mentioned on this web page and identify the strategies you want to implement.
2. Number them in order of importance and the order you will work on them.
3. Write one task on your daily "To Do list" that you can finish.
Moving Forward...
OK. Last question.
What is the motor that drives your internet business, and online make money business opportunities?
It's the topic of STEP 4.
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