Barefoot Investor Scott Pape: Money-smart kids in the making

In Perth, Western Australia these days, children are coming up empty when it comes to dollars and cents. This has become a concern in this modern age and both home and school are a major part of the blame.

When it comes to helping your children learn to manage money, there is no age limit. However, giving them piggy bank wherein they can put their extra dollars and cents in it is not enough. There are certain tips you should learn so that your young children can benefit from your knowledge and experience.

Teaching your children how to budget doesn’t have to be difficult. An allowance can be a good first step in showing your kids how to manage money. For instance, you can give your youngest child his allowance every week, at two-week intervals for preteens and monthly for teenagers. The way you gradually spread out the timing will help your kids understand the importance of managing their spending.

Normally, younger children are those who spend a lot as they do not know the value of saving. However, it is important for them to learn or realise the value of delayed gratification. For example, teach them how to sacrifice or forgo spending their allowance on candy, ice cream or any immediate pleasure and instead save for a few weeks in order for them to purchase the video game or toy that they really want to have.

Another great is to allow your children to learn the importance of proper spending. If your kids spend their allowance right away, resist request for additional money before their next allowance is due. Such negative consequences will teach them with lessons and this will teach them how to make right choices.

If you are struggling on teaching your kids the right way to manage their finances, you should check out an article published by You can read the full article here:

More time, more money – how to get your hands on both

Resulta ng larawan para sa time and money balance

One of the most common challenges that modern people face is to effectively manage their time. This is especially true to entrepreneurs. In this information age, there is too much information to understand and if you let the information control you then you will feel overwhelmed and under-achieve.

The number one of goal of any business owner is to generate a lot of money. This is the reason why we take risks, spend a lot of time and effort, and experience sleepless nights because of deadlines to meet. However, we also do not want to have no more time for our family, friends, and ourselves.

Apart from not worrying about money, business owners also want to spend more time with their family especially during holidays and special occasions. Well, entrepreneurs don’t have to worry about choosing between time and money because you can achieve them both at the same time. All you need to do is to have proper time management.

Time management is a valuable tool to entrepreneurs. It helps in effectively organising and planning the division of time between specific activities. Good time management enables you to work smarter instead of worker harder. Hence, you get more done in less time, even when time is tight and pressures are high. Failure to manage your time damages your effectiveness and causes stress.

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Why Our Company Invested in an Awesome Office Space

Why Our Company Invested in an Awesome Office Space

Most people today work in an office setting. How one’s office space is laid out can determine how well the people working in it perform particularly their productivity level.

An office space should be laid out properly because nobody wants to work in an office space that are cluttered and overcrowded. Hence, we should make sure that the space has a room to walk while having all the supplies and equipment that the office needs.

As the Perth business owner, you need to take into account the number of employees that your workplace is going to have. It is not good if there is not enough office space to accommodate the number of employees that will be in the office. This can cause employees to be unhappy. When employees are unhappy their productivity can be affected.

When planning to create your office space, you need to take several factors into account. You need to consider the number of employees, parking areas, and budget. Other things should also be considered, such as how many restrooms, private offices and storage areas are needed.

Having a perfect office space can give a big lift to your employees’ performance and success. That is why many businesses invest a lot of money for their office space.

Read this article by David Greenberg and learn why Updater invested in their office space:

We also have an article about bathroom renovations.

Survey Reveals Top 10 Leadership Qualities

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The success of any organisation depends on how their leader acts. Business leadership plays an important role in the allocation or the timely resource of funds. However, the question is still about knowing how to become a successful business leader. Is it a mere case of successful delegation of duties or something that comes from experience?

Business Leadership is a perfect amalgamation of a bunch of features that are present in different proportions in every leader. And for that matter to expect 2 leaders to be same is also impractical.

All great leaders have positive outlook. Whenever they attempt a task at hand in a group or individually, having a positive mind frame before commencing it solves most problems than the human mind can imagine.

Secondly, great leaders are excellent at making the right decisions. The correct decision-making ability of the leader providing strategic leadership aids saving a lot of time and reduces possible conflicts.

Next, what separates great leaders from the rest is their discipline. Their ability to be disciplined even in times when they have all opportunities of taking liberty and indulge in spoiling themselves is outstanding. Apart from struggling companies, great leadership is also required for CEOs of fast growing companies. Not only in leaders, but self-discipline is also needed and is imperative in today’s world.

There are many other qualities that separate great leaders from the rest of the pack. To learn more about these leadership qualities, click here:

Managing Your Business Credit

Small businesses are responsible for the majority of the world’s wealth. We can find small businesses in Perth and throughout the world. They work in a number of industries ranging from farming to manufacturing to sales. While it is tough to start a business, it can bring you so many benefits.

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However, some aspiring Perth entrepreneurs do not have the resources to start their own business. Mostly, they do not have the funds to finance their startup. Lucky for these aspiring entrepreneurs, they can go to banks and financial institutions to apply for credit.

The goal of every small business owner is to grow his or her venture. If you business doesn’t grow then you won’t be around very long. In order to grow, a small business needs cash and commercial activity. Another way a small business can take advantage of using credit is when it expands. The main foundation of growth is credit, but you need to know how to safely get it and extend it. Your small business credit score will determine how much credit you can get.

How can a bank, a lending company, or someone who doesn’t know you and has never met you determine your creditworthiness? The answer is determined by your credit score. They go to a reputable credit risk management agency in order to get a credit report. So if you want your credit application to be accepted by such companies, you need to have a good credit score.

To know how to manage your credit, read this:

Rental Property Investing

Are you planning to try your luck in the rental property business? If you are, you should plan and give attention to every detail for you to become successful. Well, enthusiasm is important but being thorough and deliberate in the formation and planning of your company will surely go a long way.

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Starting a rental business, especially the planning stage can be difficult. Hence, what is important is that you should not oversee every little thing involve in starting a rental business. If you want to do it correctly, you need to have the patience and diligence. Writing a good business plan, seeking some expert help and understanding each step before taking it are very important things in the rental business.

Creating a strategic and thorough business plan is important before you start your rental property business. Know what do the potential rental property customers need and want and create your business around providing these wants and needs. You need to examine your market, management skills and finance for you to be easier to execute thus more chances to success.

Another step you can make is to seek out for expert advice. You can go to professionals such as accountants, business lawyers and others who can guide you especially in the early stages of your business.

Once you have already learned all the things required in running a rental property business, assuming that you have already bought a perfect home or office space, you should now get the city and state license permits.

For more on this topic, check this out:

Challenges faced by CEOs in fast growing companies

If you are running a small business that is growing in a fast phase, perhaps you are feeling very happy thinking that all that are happening are the fruits of the struggles and planning that you have made.

Dramatic growth can happen to any business and can be a good thing. However this growth can happen for a number of reasons. Maybe, your business is one of the few entities that are being rapidly adopted by their customers, or perhaps they’ve merged with another company and the combined skills or products of their new company are skyrocketing their sales.

Challenges faced by CEOs in fast growing companies

If your business is growing faster than you planned and expected, you should create policies and procedures. Having procedures in place makes training new staff much faster and ensures all employees are learning the same thing. Keeping everyone on the same page during entity’s growth is essential because your time will be getting eaten up dealing with other matters.

Secondly, you should keep your company organised despite the unexpected growth it experiences. What you need to do is to make sure that everything has a spot and areas are kept clean and tidy. If you have a common area in your company like a stationary section, make sure this is very well laid out and organised. Make things easy to find for yourself and staff and keep supplies stocked.

For more about the challenges of fast growing companies, read this article from Entrepreneur:

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More time, more money – how to get your hands on both