How Low Can You Go?

Two lessons I am reminded of every time I play or teach Rich Dad’s Cashflow 101 game are as follows: It is ALMOST impossible for a woman (or a man) to do it by herself (or himself). In 2016 it takes two to earn enough to run a household and maintain an even keel on your expenses sufficient to run a surplus which you can save and then invest to get you out of the rat race. Note: I said ALMOST. By which I mean it is much, much harder on your own. My own life experience bears this out […]

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Accounting For Small Business Success

Who does the accounting in your small business? I’m worried it might be you.  Do you have the time, the aptitude, the enthusiasm, the acumen?   You’ve got choices then, haven’t you?   Either get good at it or get someone else to do it. Having a good system for controlling the finances in your business is paramount. Do you invoice promptly and collect money owed to you efficiently? Do you do your expenses at the end of every month without fail? Do you know how to reconcile your bank account and why that’s important? Do you know how much money you have in […]

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Accounting Tips for Solopreneurs: Be Nice To Yourself & Your Accountant

Throughout January, in the UK, I have watched people struggling to get their accounts stuff together for the 31 January tax return deadline. Spare a thought for your accountant if you have one.   What (s)he really doesn’t want is 100% of clients delivering their stuff in January. Imagine that just for a moment,  what if you had to do all your work for all your clients in one month of the year? And January at that, perhaps the grimmest of all months. In January last year I had cause to visit my accountant to get his signature on something to do with anti money-laundering regulations […]

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