Money Management Tips

If you have ever attempted to run a small business or if you run one now, you should know that it requires a little something better than a decent idea, and your personal energy to get things moving in the right direction. Running a small business require skills – plenty of skills. Aside from other equally important skills, businessmen need to be skilled in managing capital, to make a success out of their business ventures. These 5 tips come in handy when it comes to managing financial resources in a small business.

1. Always work with a budget.

A budget usually provides the road map for you to navigate through, in your financial dealings. Without a plan, spending money is akin to driving a car on an unfamiliar road, without a road map or mile stones. No intelligent person ever gets in a car to embark on a journey, to nowhere; without a financial budget, if you spend money on your business, you are doing exactly this. The most successful entrepreneurs always work with a simple and clear budget which they hold themselves accountable to. And in calculating a budget, you also have to take stock of your debts; if debts are an obstacle, you can learn how to minimize them at . These aforementioned tips can give you a more realistic picture of what your finances really look like.

2. Consider the way you relate to money.

How do you handle money? What does money mean to you? What are your capabilities in regard to handling capital? Are you a short-term thinker or a long-term thinker? If you have answers to these questions, you will know whether you are mostly spending on frivolities or spending wisely to build your business. You must understand how to make the most of your talents and compensate for what you lack, in order to design your financial goals.

3. Consider how your fiancé views money.

This is a rather sensitive issue to discuss publicly, but whether you’re aware of it or not, a couple needs to address how they spend their money. If your partner (or significant other) does not share your vision, as it relates to money, you have to watch out – otherwise his/her activities will (sooner than later) lead you into a financial mess. There is no doubt that you are aware that troubled finances ranks among the biggest issues among married couples (and relationships, in general). That is the singular reason you must understand your spouse/partner’s relationship with money, if you plan to manage money successfully. Also, consider the debt of your fiancé. If you foresee that his/her finances will be an obstacle to your financial goals, you may want to suggest going to this website , to get on a payment plan & learn how to dramatically reduce their debts.

4. Save a percentage of your income.

Finance experts, when giving this advice, insist that you always pay yourself, first. What that means is that your savings should always be the very first charge on your earnings. When you agree on a percentage to put aside, taking that sum out and saving it (in an interest-yielding account), builds it up significantly, in the long run (by way of compounded interest). If you work yourself ragged, it is smart to save up some money for financial hiccups, in the future. Saving money requires a lot of discipline, but you can manage, if you have a healthy relationship with money. If you cultivate this discipline, you will start to prioritize your activities, refrain from shiny distractions and be able to (clearly) distinguish between your wants and your needs (before you spend money).

5. Do not engage in impulse buying.

You must resolve to buy only necessary things. There is a pervading human tendency to spend money – simply because you have it. That is the singular reason many wage earners stay poor. When there is a sudden increase in their earnings, they tend to spend it all – and even a little more. That way, they stay perpetually broke – even with increases in their earnings! Their problem revolves around impulsive spending; that is, spending money simply because you can. You must learn to spend money only when it’s necessary or – even better – when it generates more money for you. What’s even worse than impulse spending, is impulse spending with credit cards – just don’t do it. Go to and learn how to recover from credit card debt and collection agencies.

By far, money stands apart as THE most important resources responsible for the success or failure of any business. There is always an unlimited demand for its use among the many areas of an entrepreneur’s activities. You can not be too careful in handling and managing such an important resource.

With these 5 tips now at your disposal, it becomes fairly easy for you to handle your own financial affairs with due diligence; that is what many smart entrepreneurs do to help them stay successful in their pursuit of wealth.

How Trump Added To His Wealth

Between 3 and 10 billion dollars – that is the estimated net worth of Donald Trump, with much of the uncertainty in the overall value (coming from discrepancies in property value reports). Born in 1946 into a family that had already accrued a fair degree of wealth, Donald Trump had a very good start in his financial career.

His father, Fred Trump, entered into the real-estate market of New York City, by taking advantage of state-run programs to increase housing for low and middle income families. Since it was a government program, he did not need to compete with others to obtain large profit margins – so far, this has become Donald Trump’s inheritance.

Donald Trump also started out in the real-estate business, although the government program his father had taken advantage of ended just as Donald Trump took over as the company’s president. Donald Trump still chose to invest in the Manhattan real-estate market, which took a dip. Despite this uncertainty, he maintained a positive outlook and kept the properties, trusting that their value would increase eventually. Just like his father, being well versed in federal law helped minimize debt; learn how federal laws can help you with debts – also learn how to dispute items on credit reports at

He established his first company, the Trump Organization, to handle his various real estate transactions in 1980. Things was not always easy, however, and many of his investments simply did not pan out. The most notorious, was his purchase of the Taj Mahal casino, which led to his filing for bankruptcy and asking for bailouts. He was eventually forced to give up half of his ownership of the casino to bondholders. Other casino’s built in Atlantic City, under the Trump name, also fared poorly, as they were unable to compete with the draw of Las Vegas.

Even with these drawbacks and failings, Donald Trump took the “Trump Hotels and Casinos” company public. He continued to invest in real estate, casino’s and hotel chains. Land values in New York increased dramatically from when he inherited the holdings from his father, providing him with 6000% net increase in his wealth!

Donald Trump set out to diversify his resources, although (again) many of these investments were unsuccessful. His attempted venture into the movie industry didn’t work out, when his attempt to become co-producer of the movie, “Paris is Out”, failed. He had better success in 2003 through becoming the executive producer of “The Apprentice”, a reality show featuring his own business.

He also owned the Miss Universe, Miss USA, and Miss Teen USA beauty pageants. Dissatisfied with how the TV networks were scheduling the shows, Donald Trump forced them to change networks. When Donald Trump decided to run for president in 2016, he sold his interests in the pageants for considerable profit.

He also invested in both football and boxing. In 1983 he purchased the New Jersey Generals, although he sold the team before the season even began. He then decided to purchase the team back from Walter Duncan after they fared well in their first season. He later also bought the Buffalo Bills football team. He also invested in several boxing matches that took place at the Trump Plaza, as well as being a financial advisor for the boxer, Mike Tyson, during a time in Mike’s life when there was so much debt & personal turmoil. As an aside, while most can not acquire the financial advice of a Donald Trump, can point you in right direction, in terms of paying off your debts or getting them deleted from your credit reports. Also, learn how to write a letter to equifax to remove negative items.

Donald trump used his real estate prowess and sports experience to purchase golf courses, both in the United States and internationally. His first purchase in this area was the Menie Estate, in Scotland, where he created a successful resort against the wishes of local residents. He went on to purchase the Turnberry golf resort, which is regularly used in the Open Gold Championships.

Much of Donald Trump’s wealth and fame comes from his overpowering personality and his branding. His name has become a brand that is associated with wealth – everything from Trump Tower to Trump Plaza, to Trump Chocolate and Trump Ice. He speaks his mind, his comments are often controversial and he has a certain arrogance that has led to a significant amount of television coverage, that further promotes his brands. He has been said to value his own self-worth and brand name at a value of $3 billion, which (to a high degree) is derived simply from putting his name on things!

Trump even started the mortgage company, Trump Morgage, LLC, but it closed down during the onset of the financial crisis of 2008; those who are still reeling form the effects of the 2008 crisis, can go to  to learn about debt relief and using the federal laws (and consumer rights) to turn things around, financially.

In the end, with his current presidential bid, Donald Trump is set to become the most wealthy politician in the world. Who knows, we may soon see “Trump’s United States of America” become yet a new addition to the Trump brand.