Creating a personal budget is an important step in managing your finances and achieving your financial goals. A budget helps you track your income and expenses, prioritize your spending, and avoid debt. In this article, we will walk you through the steps to create a personal budget, with references to helpful resources along the way.
Risk is simply defined as a future uncertainty about the probability and severity of something
The Oxford dictionary defines sustainability as the” ability to be maintained at a certain rate or level”. The Collins dictionary defines sustain as the “ability to continue or maintain something for some time”.
The price you charge for your products has a direct impact on the success of your business. And it is one of the toughest questions to answer, especially if you are offering a service. Thus, it is not worth settling on a thumb-suck price or copying the competition.
Where did your passion for the broker industry come from? From my father. My father
Are you one of those people that can service your car at home? Most don’t. Instead, they use a professional mechanic to keep things running smoothly and to advise them on potential issues. The same applies to your business’s finances. By Gerty Green
We all love a good story. For some it is a love story, others like crime and others action. The financial numbers in a business also tell a story to the stakeholders. If accounting is the language of business – then financial ratios help you read between the lines! By Gerty Green
Running a business costs money. Particularly overhead costs can sneak up before you realize it is out of control. Overhead costs also have a direct influence in determining the profit of the business and can contribute to cash flow problems. By Gerty Green
In this day and age, this concept of needing fuel to keep the generator running is not something unheard of and many business owners can relate. Thanks Eskom for this great way to explain the cash flow concept! Cash flow management. By Gerty Green
My friend was complaining to me that she is working so many hours in her start-up partnership business and does not get compensated for the work she is doing. She gets up at 3:15 am to get everything done, and in peak times even goes a day or two without sleep. This whilst she is still a wife and mother. By Gerty Green
The relationship between inventory management and sales is important because you can only know what inventory you have – if you know what has been purchased and what has been sold – with the net effect being the impact on the cash flow. In order to track the profitability and cash flow, the business owner must make good decisions about key operations in the areas of re-ordering products, how much to purchase, where and when to purchase.
South Africans are notoriously bad at saving and investing. The result being that very few of us retire in comfort and the bulk have insufficient funding in place to maintain a good standard of living.
Financial issues can be toxic for your health as this causes a vicious cycle of stressing about money and the stress causes illness and the illness has a financial impact, meantime we try to cope by overeating, alcohol; and drug abuse. And so it continues until your life spirals out of control.
Sometimes that ‘great idea’ is not enough to make ends meet! Many small businesses close their doors due to lack of finances. In this article I share the financial problems all small business owner face and give insight on how to overcome them and succeed!
If we manage the events in our lives, we will be managing our time as
Confidence and First Impression Matters Ten years ago, two young guys decided it was time
I focus on start-up and small businesses. – Ansu Fouche
