Put away 1/4 Million in the bank.

let me tell you how I banked my first quarter million dollars in business and how you could do the same even if you don't own your own business so here's the number one mistake that people usually make when it comes to money they think that they get money in let's just use a round number of ten dollars and they owe nine dollars to expenses and they consider the one dollar left that they have as profit it's very hard to hang on to that one dollar because usually we don't just owe nine dollars usually people are living beyond their means and they're spending beyond their means not only do they not have one dollar left at the end of their expenses but they're usually even in debt some sort of credit card debt or some sort of line of credit with their bank I want to help you change this negative cycle that you've been in with something called profit first I'm about to change your life remember this is going to help you get to the quarter million okay instead of looking at your expenses and saying I have 10 pay everybody and then you're left with one you actually want to take your one first one dollar right away and you pay yourself first you open up a separate bank account and the very first transfer that your transferrent is that one dollar to your profit account and then with everything that you have left with the nine then you go and pay everybody it ensures that you have your profit built into your Revenue a lot of companies a lot of people for that matter make the mistake that they go through the entire year and at the end of the year they look at their balance sheet to see if they made a profit or not profit is not it's not something that happens profit is a habit you have to get in the habit of taking your profit and paying yourself first and then you might be asking right now well you know very nice for you to say Barrel what happens if I am losing money right now how do I take a profit I have bills I have debt I have all these things how do I take money making less money than my life or my business right now is costing me and the answer is very simple once you get in the habit of taking your profit first you will learn to live on the rest of the point you're gonna spend differently you're gonna push off expenses by living on this profit first model you will be pushing money into your profit account and you will be also cognizant of your expenses and you'll make sure that you are balancing much better and budgeting much better because you have less to work with I hope this brought you value if this is your first time here it's been a pleasure spending time with you my name again is Beryl Solomon if you're not already subscribed please hit that subscribe button please leave me a like please leave me a comment and thank you for spending this time with me I drop these videos daily and I'll see you tomorrow