Good News How to save money on basic changes?

Saving money can seem distant and difficult, especially for those who have never cultivated this habit. The good news is that it is possible to save with just a few routine changes, such as finding out exactly how much you earn and how much you spend, discovering new possible sources of income and saving an amount for unforeseen circumstances.

Here are some basic changes in today's post that will help you save money:

Know exactly how much you earn and how much you spend

The first change you should make in order to save money is to know your real financial situation. For this, you need to know exactly how much you earn, how much you spend and, above all, in which budget categories are the biggest expenses.

Start by listing all the budget income, such as take-home pay, earnings, etc. Then list all your expenses, no matter how small. Even small expenses, when added together, can have a big impact. In addition to writing down values, be sure to categorize expenses. That way, you'll know exactly where your money is going and in which areas you can save.

Look for new sources of income

One of the golden rules of personal finance is to never spend more than you earn. If your expenses are outstripping your income, there are two possible paths: start cutting expenses or increase your current account entries. Within the second option, be sure to evaluate the possibility of seeking new sources of income.

Think about your main skills and outline a strategy to make money from them and  get out of the red once and for all . Those who cook well can, for example, make sweets to sell. People who are good at writing can become freelance writers, among other pursuits.

Save an amount for contingencies

Having an emergency fund is the best way to not be caught off guard financially when dealing with unexpected expenses like car repairs or an illness in the family. The ideal is to have saved an amount equivalent to at least three months of monthly expenses and, thus, not having to resort to alternatives such as a  personal loan when you need money. Leave the amount in a liquid investment, such as savings, as you may need to withdraw some amount at any time.

Avoid impulse purchases

Impulse purchases can be great enemies of healthy finances. To save money, it is important to always reflect before buying anything, asking if you really need to buy a certain product or if you can borrow it from someone, for example. Those who find it difficult to control themselves should leave their credit card at home and leave only with the money they will need for the day.

Search prices

To save money, researching prices is essential. Before buying anything, do a search in different stores and on the internet before closing the purchase. That way, you guarantee you're getting the best deal. If you decide to buy the product on the web, a warning: check if the store is reliable and be suspicious of prices that are way below average. It could be a trap.

Set goals

Saving money gets a lot easier when you invest in financial planning and set life goals. What would you like to accomplish in the short, medium and long term? Buying a car, down payment on an apartment, taking a big vacation… Once you've decided what your goals are, research how much they cost and set a deadline for achieving them. That way, you'll know how much you'll have to save per month to make your dreams come true.

Put these basic changes into practice now and see how saving money will become much easier!

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Posted by: John Labunski    

 

John Labunski Financial management

 It aims to provide significant operational and financial improvements through the implementation of a method that allows the management of activities through the “management of processes with a focus on results”. The management model reflects "how to do better" in the activities of the business process and achieves improvement goals related to revenue growth and cost reduction, and is achieved by monitoring and controlling performance indicators. the business.

By implementing the methodology of systematic monitoring of results in the day to day of our employees, we can improve the performance of our business activities to achieve the operational and financial objectives established. These objectives will take us where we want to strategically position ourselves and thus have a positive impact on the organization's results.

 

Posted by: John Labunski Dallas

What is the job of a financial advisor?

 A financial advisor's job is to make a financial plan. Through strategy, entrepreneurs can not only better understand the real situation of their business, but also regain control of the company's operations. You can hire him to analyze cash flow, carry out inventory control, arrange payments and countless other activities - it all depends on the client's goals. The interesting thing about having a financial advisor is that, by specializing in this area, the company will be able to obtain more reliable opinions about the safety of its assets. If the results are not as good as expected, hired professionals must formulate strategies to solve problems such as debt or falling profits.

 

Posted by: John Labunski Dallas

Operation of Financial Consulting

 When a person decides to start a business, he doesn't know exactly how his sales performance is doing, what challenges he may encounter in the process and the exact amount of taxes he will collect. In other words, it will develop in a completely unknown direction.

 And since everything in the market is uncertain, these companies will likely need some help trying to improve their business. For example, the supplier account may end up being larger than the accounts receivable account. The cash value and bank balance can reach negative values, and even the payment of tax obligations can be delayed... It happens, and many entrepreneurs face this reality every day.

 However, they know their business is in jeopardy and must make urgent changes if they want to stay in business. They realized that in order to develop a brand and increase its competitiveness, it must carry out a plan that helps improve its financial control. That is the role of a financial advisor.

 He tried to adjust the company's expenses to control the payment of overdue bills, maintain investment capital reserves, increase profits, analyze the viability of the business and reorganize the work.

 However, it is not only necessary for financial professionals to "save" a company from the pit. Financial advisors can also help extremely stable organizations that try to monitor day-to-day activities and monitor results more closely - this is to avoid problems and even maximize benefits.

 Whatever the situation (preservation or enhancement), financial advisors will act as mentors, guide and help entrepreneurs build a solid foundation for empire.

 

 Posted by: John Labunski Dallas

John Labunski Financial Consulting

 If you want to understand how business consulting works, this article will provide an overview of this topic and you can learn more about the materials and content provided by John Labunski    .

 First, it is important to understand certain aspects of business consulting:

 1- Contrary to what many say, consulting is not a luxury that few companies can obtain.

 2- The consultant will not obtain power from the company and the decision-making power will remain with the person who directs the company;

 3- Companies of all sizes can hire business consultants;

 4- There are several types of work that can be applied according to the client's objectives and the characteristics of the business consulting company.

 The principle is the customer's need and reality

 The functioning of a business consultancy is directly related to the reality in which the client is and what needs need to be met. In other words, what determines how the consultancy will take place are the objectives that the client wants and needs to achieve, and not a pre-defined model of consultancy performance. Hence the importance of those who want to hire a consultancy to understand in depth the reality they are living and what they are looking for (we explore this issue in this article: When to hire a business consultancy).

 Assuming that a company is looking to review its procedures and make the company more productive; so that will be the starting point (for that is the need). If a company wants to know its market better and increase its sales, then the consultancy will have its execution based on this search. And so on.

John Labunski - How to create a personal financial plan?

 

Now that we understand what a personal financial plan is and how important it is, let's move on to the next step: how to set up my personal financial plan.

1. Set goals and objectives

To start your financial planning set your goals and objectives. What do you want to achieve? Based on your objective, you will develop your focus. Whatever your mission, it is the central point to stimulate your personal financial planning.

Plan an antidote to bad choices. Thinking about the immediate pleasure of a purchase, spending on things that are not necessary, are some of the mishaps that will be faced during your journey. Be aware that transactions that escape planning are negative actions that only distance you from your goals.

Align your values ​​and plans for the future, the more organized you are, the more control you will have over your financial choices.

2.Write down all your expenses

The second step in your financial planning is to write down everything from recurring bills to unforeseen events that may arise. This action is essential to record the inflow and outflow of your income.

Start by making a note of any fixed earnings, such as salary, extra work, additional income, or any other anticipated income you may have over a certain period. It is common for people to carry out this account on a monthly basis.

Now, the tip is to add all your expenses to your control: rent payments, financing, credit card bills or other things. Thus, the monthly expenses listed are easier to manage, controlling what is important or not to be spent.

Organize your bills and put your expenses on a spreadsheet. After listing everything, the plan is to trace and plan what will be spent over the period. With all this data recorded, you will have a broader view of your financial situation, and from there, analyze what you can do in terms of control and how to save money to earn more in the future.

In addition, this personal financial control is important to see the real size of the pending issue and avoid wasting money.

3.Monitor income and expenses

After you have made the adjustments to your expenses, your planning enters the monitoring phase. The objective is to monitor, literally at the tip of the pencil, the execution of your plan, as not all spending periods will be the same.

Unforeseen or extra expenses may happen, which is very common, however, when this situation occurs, make the necessary adjustments and calculations to fix the problem in the following months.

4.Learn about financial education

Initially, it is important to analyze why this subject is so relevant. In addition to being a topic that can help people of all ages, financial education should be a widespread topic, especially among children and young people. Teaching about money, spending and economics is an important step for a person to know how to handle their finances.

 

Financial education is understanding the entire inflow, outflow of your budget, emergency reserve, among other points, but more than that, it is analyzing how your money can be better used, yielding more and guaranteeing you more conditions for a more peaceful future. .

Early indebtedness and poor financial education are sufficient reasons for the growing number of people who Therefore, it is essential to learn more about financial education to have greater control and tranquility in relation to money. Researching about personal finance, knowing the main practices and organization tools are fundamental points to execute a good financial planning.

5. Financial market professionals

For you who are starting to do personal financial planning and make certain types of transactions, a great tip is to look for a professional in the financial market. A specialist or companies that work in the financial market segment can help answer questions about investments, credit and indicate how to better use your capital.

Many people end up looking for banks and brokers to invest and take their first steps, however, these services are focused on product sales and not on the objective of expanding their knowledge.

John Labunski Dallas

Through an innovative, accessible and personalized business model, the app is the 1st marketplace developed to help users with financial guidance, investments, financial planning, among other approaches for you who want to improve your relationship with your money.

The professionals who provide services within John Labunski have certifications issued by financial market entities, with experience to offer the best solutions, answer questions and answer them in the best way. Meet John Labunski and evolve financially.

John Labunski of Plano, Texas, is dedicated to helping his clients achieve all of their financial dreams to ensure a successful retirement.

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John Labunski - Plano,TX,USA, UTI, Graduated

John Labunski Trusted Financial Advisor

John Labunski is a financial services professional.

John Labunski Finance Expert,Tax Deferral Specialist Dallas

Why is it important to have a personal financial plan?

 Catch up on the bills, acquire the first property, get married, change cars or see the world. After all, what is your big dream? Whatever it is, the truth is that they all undergo efficient and well-organized personal financial planning.

 As difficult and complicated as it may seem, the truth is that carrying out financial planning is much more a matter of routine than of great skills. After all, you have to stay focused on the goal and not relax even a day. Before long, this daily control will become a habit and you will become more and more familiar with it.

 What is financial planning?

 With personal financial planning, it is possible to gain greater autonomy over your own life, making better decisions and avoiding financial unforeseen. After all, no one likes to be taken by surprise with an extra expense at the end of the month and not have the cash to carry it out, right? In addition, with efficient financial planning, it is easier to maintain control over life in different areas, understanding where your main expenses are and which ones can be avoided.

 Putting all the bills at the tip of the pencil, it is possible to have a complete picture of the monthly budget and, thus, understand how much money comes in and the amount destined for expenses that cannot be cut (such as rent, water bills, electricity and telephone, supermarket, college, among others). By listing all of them, you will be able to see what the monthly amount of your budget is already committed and, thus, stipulate values ​​for your reserve fund and how much you can spend on other items, such as a dinner or a weekend outing.

 In other words, personal financial planning is a kind of guide, designed to provide greater control and organization for your money, generating more tranquility on a daily basis. From there, it is possible to control all monthly earnings and expenses, favoring decision-making whenever necessary.

 What are the benefits of personal financial planning?

 It is not news to anyone that having control over financial life brings more tranquility. With all the gains and expenses placed at the tip of the pencil, it is possible to clearly see where your unavoidable expenses are and which are those that can be reviewed and controlled. Thus, the process of saving money for the realization of dreams becomes easier and more efficient.

 But it's not just to achieve life goals and plans that personal financial planning is important. With it, you can create an emergency reserve fund, to prevent unforeseen events from catching you off guard during the month. In other words, with personal financial planning it is possible to organize the budget, save money to deal with unforeseen events and even start to fulfill your big life dreams.

 Did you like our tips to better organize your John Labunski Expert Guidelines? So keep following our blog and stay on top of more content like this.

 

John Labunski - Step by step to start your retirement

 Believe it or not: entrepreneurship in retirement is not a seven-headed bug. In fact, in terms of the workforce, exercising any profession at this stage of life is not big news. According to a survey carried out by (Defense Advanced Research Projects Agency), 44% of retired women work outside the home and 51.6% of men.

 In fact, these numbers show that, even with retirement, many still want to remain active. This desire can have different reasons: some prefer to continue, as they still feel that they have a lot to contribute to their profession. Others have the desire to have their own company to increase income.

 For those who intend to start a business from scratch, there are some fundamental precautions to be successful in this endeavor. Here, we're going to talk about what you need to know and how to get started. Check out!

 What are the steps to undertake during retirement?

 There are some fundamental precautions for those who are starting to undertake. Whether you're an individual at the start of your career, or a retiree, it's important to be aware of these steps. Let's find out what they are!

 Choose a field of activity

 Even if you already have knowledge because of your old profession, it is possible that in this new stage of your professional life you want to start in something totally new. In this sense, it is important to do an initial research to choose what your field of activity will be.

 To help you get an idea of ​​what might be best for you, we advise you to look at what you can do and what your skills or hobbies are. It is possible to get great ideas with this initiative.

 Create a business plan

 With a more defined idea of ​​what your company will be, now it's time to start planning. The business plan is nothing more than all the main details about how your company should be. He will be the guide to bring your project to reality, so it is a crucial phase and that must be done with full attention on the part of the future entrepreneur.

 Find out what the costs will be

 As you develop your business plan, you will need to pay attention to costs. This is the time to research possible prices for everything — for space, necessary equipment, for regularization, taxes, etc. Put everything on paper to get an idea of ​​how much you will need to invest.

 Be very attentive to this moment of planning, because common sense will be essential not to rush and end up investing everything you have in a project that may not work out.

 Study the market

 Now is the time to look outside: the search will be more focused on the field of activity of your business. Try to see how competitors behave, what the sales volume is like, the strategies used, etc. It is interesting to be aware of these details to prepare more safely for what to face in the market.

 Find your target audience

 The research above will also help you get an idea of ​​the behavior of the other half of the market: customers. In fact, one of the fundamental steps to start is thinking about marketing, and the target audience is an essential part of that. So, this is the time to know who are the people who consume your company's product or service: what are their pains? What do they expect and what do they consume?

 How to succeed in entrepreneurship after retirement?

 We know that it's not just creating a company and everything will be solved. It will still be necessary to manage it and take care of it so that the first years are as safe as possible. So, you need to take some personal steps to achieve success. Let's find out what they are!

 Use free time to gain knowledge

 In fact, when it comes to retirement, the elderly have much more free time. It is not uncommon for these hours to be used for rest. This is not wrong; however, these moments could be used to invest in knowledge.

 Even more for those who intend to be an entrepreneur, it is a good opportunity to take courses in planning, marketing, finance, or even read books on the subject. This is one of the best ways to prepare to run your business responsibly.

 Learn from those who already have experience

 Probably, with your years of work, you must have made different contacts. This is a good time to strengthen those bonds and ask them to help with their expertise.

 After all, the more information from people who have lived and know your company's field of activity, the better. Remember that it is not always possible to find everything in books or other information vehicles.

 Manage your routine correctly

 Another important point will be in relation to your daily activities. Now that you are an entrepreneur, it will be very important to dedicate considerable time to your business.

 It's a very different lifestyle than working for someone else. It is you who will define your schedule and it is important to be careful not to overextend, ending up overloaded, or not dedicating enough time.

 Don't be afraid to take a risk

 Our last tip is related to the fact that, when you retire, having already gone through different experiences, the person looks for more tranquility. Often, she may even be interested in starting a business, but she doesn't want to take any risks.

 This is impossible, since just the idea of ​​having a company already means one. That's why it's important not to be afraid to take risks: use your work experience, study the market and follow your plan to be more secure.

 Is it worth retiring to start a business?

 This is a question whose answer depends on your goals. What we can say is that being a more experienced person can count a lot when opening your business.

 After all, you have already been through different situations related to the job market and, depending on the chosen field, you already know some scenarios that you may face. What is usually a difficulty is the risks, however, as we said in the previous topic, investing in knowledge, the process becomes easier.

 We have talked so far about some of the main measures to undertake when you are retired. However, we can't help but say that a certain amount of capital will be needed to open your business. We at John Labunski Dallas have some very interesting solutions, aimed exclusively at retired entrepreneurs who want to start a business.

 Did you like our text about undertaking in retirement? Are you thinking about opening your business? So, contact us now and discover our services!

 

Risk management in companies: 5 tips to do it efficiently

 Risk management in companies is one of the essential measures for the longevity of the business. This is because it guarantees the ability to deal a little better with the unpredictability of the market. In addition to providing security in the execution of operational processes.

However, implementing it is not so simple, not only because you need to know its fundamentals, but also because you need to invest in different tools and control strategies. With that in mind, today, we are going to explain everything you need to know about risk management. John Labunski Dallas!

 What is risk management?

 Risk management is the combination of a series of identification, assessment and control processes to avoid, manage or transfer risks. It is a fundamental activity for all companies, regardless of the phases of their life cycle, being a continuous process and not one-off.

 For example, imagine a small business that manufactures electronic components, especially parts for cell phones. However, there is a crisis in the raw material of chips. At the moment, the company still has enough inventory for a month, but it doesn't know how it will handle the next ones. We can call this whole situation a risk that came true.

 Now imagine if that same company had prepared a year's worth of inventory, calculating demand by the average of last year's orders. Probably, they would not have to worry if the situation in the previous paragraph happened and they could increase the competitive advantage, as they prevented themselves.

 Why is risk management important?

 Risk is characterized by being a potential problem, that is, a bad or complicated situation that can happen. Depending on your stage in the business, it may affect resource capacity for activities.

 Therefore, nothing is more important than having mechanisms to make its impact less harmful to the company's life cycle. That's why risk management is such an important tool. It helps to avoid and reduce risks, including containing the possible losses caused by these events and providing mechanisms for them to be predicted and monitored.

 Types of financial risks

 There are different types of risks that a company can face. From those considered controllable, such as equipment breakdown or work accidents, to uncontrollable ones, which are more related to external market conditions and also to finances? Here they range from consumer defaults, to an economic crisis or, as we have seen in recent years, the coronavirus pandemic .

 How to carry out risk management in the company? Discover 5 steps!

 Luckily, risk management is an activity that any company can do. The most important thing is to know the main steps and develop a periodic system of work. To help you in this process, we have separated the main steps to implement it in your company. Check out!

 1. Plan ahead

 The first step is to plan your business operations. It can be done either at the end or at the beginning of the year, but the idea here is that the management has a direction. At this point, some questions must be answered: where does the company intend to be at the end of the year? What are the plans for finances? What situations or behaviors does the business want to avoid? Among others.

 2. Identify and classify risks

A fundamental step for risk management is to know the company. This is because, knowing about the business processes and operations in detail, it is possible to understand what their weaknesses and vulnerabilities are.

 As we explained in previous topics, risk has a direct relationship with a potential problem, so looking at the sensitive aspects of the company can point to the emergence of these situations.

 3. Perform a qualitative and quantitative analysis

 Both qualitative and quantitative analysis are important tools for understanding business operations in a structured way.

 The first helps to define the level of impact that each risk has for, in addition to its probability. The second helps to measure the possible effects of situations already identified. Therefore, both work as tools to extract data that will help to decide what is the best conduct for the business.

 4. Carry out risk treatment

 After collecting and analyzing data and identifying what the risks are, it's time for management to start a treatment work. That is, defining a management plan to help the company deal with these unpredictability. At this point, it will be interesting to determine some guidelines based on five types of conduct: avoid, retain, reduce, transfer and exploit risk.

 5. Perform monitoring

 With the defined treatment, it will be up to the company to maintain a vigilance conduct in the face of these situations. Not only the exposed risks, but also the possibilities. It will be important to determine, at this stage, both management capabilities and actions to continue to keep the risk level low. Some types of tools are: reports, management software, performance indicators, whistle blowing channel, creation of internal policies, among others.

 Why should risk management be connected with collection management?

 When we talk about delinquency, especially from consumers, we know that there is a great risk involved. After all, the lack of payment results in amounts that the company expected to receive. Its non-existence has a huge impact on the company's balance sheet and, consequently, on its investments and plans.

 Therefore, using tools, or even having a collection service, is a way of facing this risk head on and mitigating its impact. This management ends up becoming an ally not only for the company to receive its payments properly, but to be able to handle its finances without problems.

 Risk management in companies plays an important role in ensuring the longevity of the business. More than a strategy with John Labunski, it is a behavior that must be periodically maintained. Therefore, it is very important that the company invests in a management plan, taking into account the possibilities of risk. In addition, understanding that having control of your collections is essential to properly implement risk management and avoid financial problems in the medium and long term.

Where to start with the financial management of your business

 Setting goals and knowing the way to achieve them is essential to have the best results in finances

Financial management is one of the areas that most deserves attention in business. She is the one who will show if your company's health is fine or if it needs some adjustments. But how to do this administration? It all starts with financial planning and goal setting. They are essential to know where and how you want to get there. Do you know what your business's first financial goal should be?

The first objective that you must have in the financial management of your business is to reach the break-even point. You may have heard of it already, but let's talk a little more about how to achieve it and how to know if this goal has been achieved or not.

Let's start by understanding it very clearly: break-even point is the minimum necessary that you must invoice per month to cover your costs and expenses, and not have a loss. Achieving this break-even point in your company's finances should be the first goal to be pursued with all commitment. That is, having enough entries to cover all expenses generated in the month. This point has no gains, at first, but also does not generate a negative balance.

But in order for you to know how to calculate the minimum you need to bill per month to avoid losses, understanding your costs and expenses is essential. All financial projections start from the analysis of this data, it is not possible to work financial goals without them. You can't even know what your break-even point is. That's why it's so essential to take the time to raise your company's costs and expenses in a detailed and clear way.

So, after all this financial control, from the moment you generate enough revenue to cover your costs and expenses, you've reached your break-even point. The best part comes from there. After reaching this goal, what generates revenue above this point is your profit margin. What we call the economic equilibrium point.

So, the profit is nothing more than a consequence of its sales, being very well managed in terms of expenses and taxes, and the difference is the much desired profit. To achieve this financial success, it is necessary to focus on management, planning, having clear goals and the right strategy.

It's always worth spending time on your business's financial planning to reap the dreamed benefits of organized financial management.

Posted By: John Labunski Finance Expert

Management of costs and expenses directly impacts the business

 Do you know the real difference between costs and expenses? The fact is that people often confuse costs, investments and disbursements and end up getting lost in the process. Before that happens, it's time to stop and evaluate. This is because clarity in this regard is essential for any business that seeks balance in finance.

A valuable tip is: getting started right costs less time and money than correcting the mistake later. By balancing and being aware of how much is spent and what the cost really is, the entrepreneur minimizes losses, defaults, losses, in short, the consequences are smaller.

Now, if there's a feeling that the years go by and the work increases, but the profit doesn't grow in the same proportion, some bottleneck exists and usually it comes from the finance department.

In this sense, if you feel this bottleneck in your company, stop and pay attention to cash flow. Evaluate what goes in and out every month, and always have working capital available to pay expenses. From there, with the cash up to date, it will be possible to make a financial assessment of the business.

It is worth mentioning that the billing is not responsible for the sustenance of your company, but the profit. But not everyone has this clarity. It's worth remembering: profit is the amount you bill, minus the costs and expenses committed to generating revenue.

Finance and time management

When there is no good financial management, costs and expenses are lost and the structure of the company as a whole is harmed. We can see this frequently in many businesses, which decline in a few years of existence, either because of the partners' indiscipline with the management of finances or for many other organizational reasons that impact the business.

And for those looking to structure and improve the management of the financial department, it is worth paying attention to these tips: list your expenses in a spreadsheet, it can be in Excel; put the installments, credit and debit card accounts in this worksheet, as well as fixed and variable expenses; and only then validate with the partners whether or not it is possible to make the minimum expected withdrawal.

This organization will also influence time management, which can be optimized, in addition to unburdening and optimizing the team's work. All this will reflect up front – in your profit.

Finally, remember that your business does not depend on how much you earn, but on how much you spend.

Posted By: John Labunski

 

 

Do you mix personal finances with your business finances?

 Separating personal and company or office accounts is the first step for anyone who is starting a new business and wants to structure the financial. It even seems that it is something obvious – “do not mix the accounts and have a clear division between personal life and work” –, but we observe that, especially at the beginning of a company, when investments and disbursements are made, many get lost. That's when it's time to stop and evaluate. Otherwise, financial problems can arise and undoubtedly getting started right costs less time and money than fixing the mistake later.

I always say that finance is the heart of any business, and if it is not structured you may have losses, defaults, losses and your income will suffer consequences. If you have the feeling that the years go by and the work is increasing, but the profit is not growing in the same proportion, some bottleneck exists and it is usually in the financial one.

Therefore, it is important to be clear that every business needs to organize its cash flow, with the aim of evaluating everything that comes in and goes out in the month. In addition, it is essential to have a working capital to pay the expenses. From there, with this cash, it is possible to make a financial assessment.

What sustains the business is not revenue, but profit, which is the amount billed, minus the costs and expenses that you commit to generate revenue. But imagine mixing personal and business finances. There is no doubt that the problem will come, whether in the short, medium or long term.

Generally, the way you handle personal finances is the way you handle your business finances. In the context of law firms, the partners' view of the pro labore and withdrawal of fees is often different. However, what everyone needs to keep in mind is that the better the bank, the better the partners. When there is no good financial management, partners can take from the firm a value that harms or suffocates the structure or, then, they can end up leaving very large amounts in reserve and unnecessarily.

During years of consulting and managing the finance department in companies and offices, I saw many businesses decline due to the partners' indiscipline with financial management. The fact is that the way a partner deals with numbers in his personal life directly impacts the business.

There's no secret: separating finances is crucial for an accurate financial analysis and also to know if the results are growing and if the cash flow is healthy. For this, the ideal is that you and the other partners have a fixed monthly withdrawal.

practical tip

For those who are just starting out and still don't have a structured finance department, the tip is simple: list your expenses in a spreadsheet (it can be in Excel), as well as installments, credit card bills, fixed and variable expenses, and only then validate whether or not it is possible to make the minimum expected withdrawal. The old adage fits here: “the question is not how much you earn, it is how much you spend”.

Avoid management mistakes and seek financial advice to help your company!

Posted By: John Labunski

John labunski Dallas | The 7 criteria for choosing the right financial advisor

 As for your health, you must first consult a general practitioner

 In United State   , most Wealth Management Advisors have the status of Financial Investment Advisor . But beware; these professionals often add to this status that of broker (in insurance or credit) and that of real estate agent. In short, for comprehensive advice, it is better to turn to a CGP firm with several types of approvals.

 The first questions you will be asked will be a valuable clue

 It is impossible to give financial advice without knowing the exact situation of the client. For example, understanding the client's family organization is essential: Who are the ascendants (do they have assets? a need?), the spouse (what is the matrimonial regime? how to protect it?), the children (their number, their age, studies, etc.). Gathering this information will take about an hour and must be done in writing. It is this basis that will allow the adviser to reflect on your case and provide you with relevant solutions.

 As a customer you must play the game

 It is of course delicate to reveal one's family, professional and financial situation to a stranger. This is why we insist on the importance of contacting a recognized firm that is well established locally. The turnover experienced by private banks also militates for the use of the services of a CGP firm. Certain exercises or formalities may seem useless or tedious to you, but know that they are there to protect you and allow you to move forward serenely in your approach as an investor.

 Choose advisors who recommend you diversify

 There are several ways to diversify your assets: you can diversify the types of assets (financial/real estate) but also the tax envelopes (life insurance, PER, PEA, capitalization contract, securities account). In the family of financial investments, we recommend diversifying insurers (for life insurance) . For example, a capital of $400,000 could be invested in 2 contracts with 2 different companies. It is also important to diversify taxation: for example, preparing for retirement with several tax strategies: PERP + Life Insurance + PEE/PERCO.

 Work with passionate people

 The world of wealth and investments is fascinating. For example, the world of financial management conceals infinity of investment universes, themes to exploit or original management processes. Your financial adviser should know how to communicate to you the added value of the managers he selects. He will also have to know how to motivate you on intelligent risk taking. Arguing, convincing, figures are generally not enough... all of this must go through an adviser who is passionate about his job.

 Choose a firm you are comfortable with

 We generally open a life insurance contract for at least 8 years. Other issues such as a real estate investment or preparing for retirement can take longer. From this long-term perspective, the choice of a CGP firm seems the most relevant. Indeed, this type of structure allows you to exchange with associated professionals who are really committed to you. Firms with a few employees will also offer you additional services and incomparable stability with the teams of a traditional or private bank.

 Experience is essential

 In recent years, postgraduate programs in asset management have multiplied (there are now several dozen in United State). The diplomas are of course an essential baggage to practice this complex profession but nothing can replace experience, especially from the human point of view. John labunski Dallas Financial advice requires a lot of psychology and adaptability. Your interlocutor must have enough experience – not necessarily in finance for that matter – for his arguments to carry your conviction.

How to choose a good financial adviser? John Labunski

 Do you know people who research on the web and in stores for several weeks before buying a new 4K television, but who sign a mortgage without researching or negotiating? Some may go into debt for a television. But in general, buying a television has little impact on personal finances compared to buying a house, because the latter will be the most important purchase of their life.

 It's a bit the same thing with your investments… The choice of a financial advisor has a major impact on your personal finances and on your path to financial independence. Your retirement is also at stake!

 Don't let your savings sleep under your mattress

 It's okay if you're not interested or don't have the skills to manage your investments and investments on your own. However, don't leave your savings in a traditional savings account or under your mattress. You will certainly not reach your financial goals and you will not be able to retire. Inflation will eat away at your savings.

 But, on the other hand, don't let just anyone take care of your savings. The advisor at your financial institution can be very friendly, but they are not necessarily the best person to take care of your investments.

 Seek help from a professional

 Managing investments can be very complicated. A financial advisor or financial planner can certainly help. There is no harm in seeking help from a financial professional. But, where to find a good financial adviser John labunski Dallas?

 There are several professionals: financial planner, investment advisor, financial security advisor, mutual fund representative, etc. In addition, there are several methods of remuneration: fees, commissions, management fees, entry or exit fees, etc.

 Should you choose a financial advisor at your financial institution or an independent advisor? How to ensure that the advisor has the required qualifications?

 Choosing a trusted and knowledgeable financial advisor is not an easy task, but it is essential to achieving your financial goals.

 It's never too late to take control of your personal finances. From this perspective, it is therefore never too late to seek a financial adviser.

 Here is some information that can help you in your efforts to find a financial advisor.

 Financial advisor or financial planner?

 Before going further in your steps, should you do business with a financial advisor or a financial planner? Of course it depends on your needs.

 Personally, I only use the expression “financial advisor” on my blog in order to simplify my articles.

 But, when I say "financial advisor", am I talking about financial security advisor, mutual fund representative or investment advisor? Unless I'm talking about a financial planner? There is a difference between all these professionals…

 The financial adviser

A  financial advisor  is someone who can help you manage your personal finances. For example, it may be an advisor at your financial institution. But, the term “financial advisor” does not represent a professional (ie it is not a “real” title). It is rather a "generic" title that is used for the following 3 professionals:

 ·         A mutual fund representative is a professional who represents the broker (eg financial institution) in collective savings. It promotes and distributes collective investment products, namely mutual funds (mutual funds). The mutual fund representative does not have a university education (he may have one, but it is not mandatory). Rather, he must take a few hours of training and pass an exam.

·         The financial security advisor or personal insurance representative is a professional who advises and distributes insurance products (life, health, disability) and savings products such as segregated funds. The financial security advisor does not have a university education (he may have one, but it is not mandatory). Rather, he must undergo training and pass an examination.

·         The investment adviser is a professional who carries out transactions on the purchase or sale of transferable securities such as stocks and bonds. He can also, like the mutual fund representative, distribute mutual funds (mutual funds). The investment advisor does not have a university education (he may have one, but it is not mandatory). Rather, he must undergo training and pass two exams.

 The financial planner

 The financial planner (PF) is a person who can help you make a personalized financial plan: assess your current financial situation, determine your financial needs and objectives, advise on financial products, He can also help you make a budget and plan your retirement. In short, he has knowledge in many areas.

 Unlike the other professionals mentioned above, the financial planner (PL) must have university-level training (Certificate in financial planning – 30 credits).

 He can thus advise you in the following areas: finance, taxation, investments, retirement, insurance, legal aspects and succession.

 Now that the role of these professionals has been explained, let me return to my term “financial advisor” for the purpose of simplifying the text.

 What to do before looking for a financial adviser?

 Before you start looking for a financial advisor, you need to determine what your needs are. Do you need help for a specific problem or for your whole situation? If you need specialist advice, you can find a counsel who has expertise in this area. Do you need advice on a regular or occasional basis? Are you looking for a financial advisor to manage all of your personal finances or just to manage your investments? Do you need insurance advice?

 Advisors cannot handle all of your personal finances (investments, debt, insurance, retirement, etc.).

 The answers to these questions will help you in your efforts to find the financial professional who meets your needs (financial security advisor, mutual fund representative, investment advisor, financial planner).

 Where to find a financial adviser?

 There are employees at all financial institutions who can help you open an account and purchase investment products.

 There are also employees in insurance companies who are licensed to sell investment products, such as mutual funds and segregated funds, in addition to insurance products.

 Finally, there are independent financial advisors and independent financial planning companies that are licensed to sell investment products.

 I'll let you guess which of them are forced to sell their company's financial products and which ones are free to offer you all the products available on the market...

 I suggest meeting with several financial advisors and choosing the one that can best meet your financial needs and goals with John Labunski. For all potential financial advisors,

 Advisors must be trained and registered with a provincial or territorial securities regulator. You can use the Canadian Securities Administrators' National Registration Information Search Engine to check if the adviser is registered.

 Make an appointment and ask questions

 Then, I suggest that you schedule a first meeting with each of the candidates. This initial meeting can be used not only to verify their experience and expertise, but also to see if there is a good connection between the two of you. You need to find the best possible financial advisor to help you achieve your financial goals. So it's important to have good chemistry in this long-term relationship...

 You can ask each of the advisors you meet questions about their experience and expertise. You can ask him about his education, experience, credentials, how long he has been in business, what products and services he offers, how he will help you achieve your goals, is he paid by salary, commission or other fees, etc. Don't hesitate to ask for references.

 Eventually, you can compare the answers of the advisors you have met and make a decision. It's not a race. Take the time you need to choose your financial advisor DENA LABUNSKI vs. JOHN LABUNSKI!

Monthly financial planning? What is it and where to start?

 Monthly financial planning is usually the first task for those who want to control their finances and learn to analyze where their money is going.

 However, those who believe that this methodology is limited to just controlling expenses or income are mistaken. It is much more complex and serves, mainly, to provide you with a greater and better quality of life.

 After all, without a methodology and an action plan, we hardly let our dreams come true. Here, we believe that, as long as you have a goal and turn it into a goal, you can make it possible.

 Therefore, with the aim of helping you understand the concept of financial planning a little better, ASK brings in this content a guide on everything you need to know to start diving into this universe.

 What is a monthly financial plan?

 Basically, monthly financial planning, as the name suggests, is a strategy capable of helping you to have control over your decisions, and making the month's money not become a constant problem.

 This methodology also usually takes into account many important factors, such as:

 ·         The profile of each person.

·         Personal characteristics;

·         Life stage;

·         Goals and values ​​(personal).

 Therefore, you will never be able to find a financial plan that is the same as someone else's, as each of us has different thoughts and goals.

 And, although this is still a little talked about subject, it is fundamental to help in the financial health of your life, John Labunski.

 What is a financial plan for?

 As you can imagine, financial planning, despite having its main focus on helping to improve your finances, is much bigger than that.

 In addition to being able to control expenses and income, you can set concrete goals to be achieved. In other words, dreams can become goals. Through goals, it certainly can become real.

 We often forget that these financial accomplishments (the trip with the kids at the end of the year, the dream apartment, the career transition, starting a small business) will only happen if every month a part of our income is directed towards this. . Being done on an ongoing basis, it can help you make short, medium and long-term decisions. This is even one of the reasons why you should consider monthly financial planning for the rest of your life.

 Well, if you value quality of life and tranquility, this will certainly be one of the simplest ways to conquer all this.

 How to make a strategic monthly financial planning?

 From now on, we are going to separate some fundamental points that you must take into account if you want to develop a quality personal strategic plan.

 Believe me, although it may seem complex at first, we can guarantee that this is the best way for you to have better long-term results in all areas of your life.

 Know how much you cost

 The first step for you to start monthly financial planning is, in fact, to understand how much your life costs.

 In this process, it will be necessary to put all your expenses and income at the tip of the pencil.

 Therefore, select which are the fixed and variable expenses, as well as your income.

 You prescribe

 To get started, you should list all your monthly entries. If it is variable, consider a conservative average of the last 6 months or 1 year.

 This is the total that we will have every month to choose how much will be spent and how much will be saved.

 Also list any entries you have, such as the 13th salary and vacation, for example. After all, we also need to plan where that money will go in the month you receive it.

 Fixed expenses

 Here, you will be able to select everything you need to pay every month and that do not have a very large price variation. That is, at this stage it is time to select categories such as:

 ·         Rent;

·         Telephone;

·         Internet;

·         Tuition;

·         variable expenses

 This stage, on the other hand, refers to all monthly expenses or expenses in which the values ​​​​can vary greatly from one month to the next,, like:

 ·         Supermarket shopping;

·         Leisure expenses;

 Incidental expenses

 It is important to emphasize that, for monthly financial planning, it is essential to remember that there are some incidental expenses that may impact your schedule.

 Basically, they're expenses that don't happen every month, but you get some predictability.

 Set aside a part for investments

 As important as paying monthly bills, it is necessary to think about separating part of your income to achieve your projects.

 Whether for the emergency reserve, to leverage a goal or simply for retirement. Investing your money is a current and essential need.

 At this point, it is essential that you really develop the habit of saving, so that any unforeseen circumstances do not directly impact your budget.

 Always keep in mind that the money to be invested should never be separated last. Within your planning, see it as a "fixed expense", however, with a return within the predetermined period.

 Keeping track of monthly financial planning

 In order for you to be able to organize your financial planning, and to have better visibility of your goals, objectives, expenses and income, it is essential that it is always visible and that it is easy to access.

 With the technology of the current universe helping us in different ways, you can develop your project on different platforms.

 Even if you are interested in knowing different ways to control spending, you can  access this link  and learn about some very interesting options on the subject.

 But is financial planning just that?

 When faced with content like this, many people believe that, when talking about financial planning, we are only referring to the month's bills.

 However, this is just the introduction to a topic as complex as this. However, we can say that financial planning is made up of five more areas, which you will get to know with us over the next few weeks:

 ·         Financial management (monthly planning);

·         Asset management;

·         Risk management;

·         Retirement planning;

·         Succession planning;

·         Tax planning.

 Is it worth doing a monthly financial plan?

 A financial plan should be taken into account by all people who want to have greater control over spending and like to have goals and objectives met.

 In addition, this process helps you not to get lost in the face of finances and avoid having complicated unforeseen events, capable of jeopardizing all your income.

 Therefore, we believe that this is the best way to have a peaceful and long life.

 However, if you want to know how to put together a financial plan in practice, be sure to talk to us about the topic, both in the comments below, and in our call center.

 We will be delighted to welcome you here. And now? Set up your plan with John Labunski Safe Investment?