Don't Forget The Statement

      When person is in debt, as I am, it is best to make a statement of where you are so that you will have a snapshot of where you want to spring from.
       Since I have a business I need to call a meeting now and again to inform myself where I am in the journey. I take the minutes and include a treasurers report. I note where I am at the moment. I report how much I owe on my Visa and Master Card- at what rate.
       Over time I can look back and see if I am bringing the debt down or adding to it.
       I am a bit lazy about calling meetings since I am the only one. I have found I can't keep all the information In my mind, I need to record it someplace. Also this keeping of minutes and the calling
 of meetings is good practice. The notes will help me if I should ever be in a position to seek a loan.
      Banks, I understand, will want to see a statement and the meeting notes. If I seek private loans it will also be nice to have these to show.
     Have just gotten the tax forms back from my bookkeeper and my tax consultant by email. I opened them up to look at them and check the information. Last year was a disaster. By trying to pull money into my business from my personal accounts and having liquidated some IRA's I will be getting less back this year. What happened is I show more income than I collected just to keep myself viable. I will come out getting a little over $300 returned to me. This is after I pay the $800 I owe the state for being a limit liability corporation..
      I told you I was being transparent. I want others to know it can be done and maybe help them through the journey.
       Come join me and do give me feedback.
       Part of the process of blogging is to start a conversation and a relationship. I can't be the only one who is taking a journey

Comments

Post a Comment

Popular posts from this blog

Got It Fixed

Image
  It was a problem that was easily fixed.  My market on the internet,  was showing small icons. Now how can anyone decide on a product if the product is displayed in small icons?    I must have been losing handfuls of money and sales becase mpeople wen tthere, saw small icons, and left.      Now I have fixed that so they are showing middle sized and prices, picture, and description is intact once agakimn. This allows tjhose who do go there tol see what each page has.     The store is set up in six aisles. Each aisle is for a group. Women, Sports, Therapeutic, Nutrition,Men, General.    This and affiliate marketing at the moment are the means I will be using to generate cash flow. With this cash flow I intend to buy off my bills and have some money to eat with.  Maybe even buy some clothes. I do need to update my clothes.     So do visit my store and , yes, there are other vitamin shops on t...
Read more

I Dreamed of Wood Working

Image
 So you are a dreamer who wants to create your own  useful items. You are into woodworking Maybe as a hobby at the moment, because you may not want to go through a long program to become  a business owner  But you enjoy working with your hands and the feel of fresh wood under your hands excited you.. You can see possibilities. You just need a program.   I may have found one which I would like to share with you. It is an online link. And the company behind it tells me if I can get you to buy into their offered program I can get compensated for my time..   It is known as Ted's Woodwork . And if you are just a normal Joe even, it can work for you.  Woodworking can be relaxing. You do it yourself. And you can get great satisfaction in  the finished product.   So if you are one of those who enjoy working with your hands, click the link and get going. 
Read more

Slipping into A State Of Debtabetes

Image
  Sometimes I think that I may be suffering a case of debtabetes.   Just what do I mean by that? Well, in his book, Good Debt, Bad Debt Jon Hanson uses this term to mean when a person uses a bad financial diet to exist  he finds himself suffering a financial stroke. It is when we look at cash flow as our financial insulin that we come to realize we could suffer from debtabegtes.    It leads to debt obesity wich is poor money management.    Debt, I have discovered, tends to have four effects on me. I suffer a loss. In  fact four losses by being presently in debt. Someday I hope to surface from debt and be able to reach back and help someone else up. That is one loss,. Since I am in debt I lose the opportunity to do that. I presentgly can't take advantage of mentoring another.    Another loss is my loss of freedom. I can't do want I want to do. Someone has said, and he was joking, that  working while carrying a load of debt is li...
Read more