Some very helpful financial statements for both individuals and entrepreneurs.

in Project HOPE6 days ago

Financial freedom really has nothing to say with your educational degree, every entrepreneur must have a financial statement. It is completely improper for you to run a business without a financial statement which will be an open pattern for the amount you have coming in as well as the amount you have going out. Every financial institution is interested in the financial statement of a firm/entrepreneur before a loan is issued.

Apart from entrepreneurs or businesses who need financial statements, individuals who are concerned about their financial growth also need financial statements, this financial statements is really healthy and important because it will help you discern the amount you have coming in as well as that which you have going out.

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Most business owners are simply self-employed and it may be convenient to feel self-employed because it looks like you have your time to yourself but learning what it takes to become a big business owner will actually shift your focus from trying to just be a self-employed person to becoming a big business owner. The point when you become a big business owner is when you are able to conveniently employ more hands to represent you in different regions and this businesses stand firmly on their own without your physical representation there all the time.

While working and building your business, you should be focused more on asset accumulation than increasing your pay check, for a lot of workers they are just very much concerned about how they will be able to increase their income and then they can go on to increase their lifestyle and then have more money to spend but financial education teaches us that while we are able to work it is clearly important for us to increase our asset rather than increasing our way of lavish spending.

The very good thing about being concerned about asset is that, assets actually brings in more income but when too much focus is placed on income rather than asset, the income never gets sufficient and the bills certainly continues to pile up the more on a regular note.

It is really good to save as so many financial advisors tell us to do but if you continue to just save and save considering the rate and level of inflation we have in the world today, by the time you want to get the money you have been saving for years then you come to the realization that all that you have saved is not even to purchase any of the item you intended saving up for and that is a strong reason why it is really advisable for you to learn the good habit of investing in appropriate places.

 6 days ago 

Friend, what caught my attention in this publication is the sentence that says: "Financial freedom has nothing to do with your level of education:
Financial freedom has nothing to do with your degree of education.

However, it is necessary to have at least a minimum degree of education in mathematics because in the end the finances of our life is reduced to a very basic operation.

@tipu curate 2

Greetings friend, I agree with you, our direction is to increase our assets, that will certainly allow that in the medium or long term we can reap great income, if on the contrary you want to increase from the beginning to spend it luxuries, possibly you will not do very well in the business.

See you later, have a great week.

Excellent contribution @papa-mensa, without a doubt financial education goes beyond a university degree and in many cases we manage to develop it according to our economic experience at this point the goal is to make money work for us and not that we work for money.

Hi dear friend @papa-mensa

We are able to work it is clearly important for us to increase our asset rather than increasing our way of lavish spending.

It is the theme of never ending we must save more but we must also invest, the question is that if we invest we run out of savings so we must try to make a good investment