Keeping Your Business Healthy: 

     by Barbara Wright Sykes

As we move into 2010, its time to rethink your strategy for building wealth and keeping your business healthy.

Take a Small Step:  You often hear that you should save 10-15 percent of your income. But if that is not possible, remember that you can begin saving by putting away even less. Set your goals high, but begin small. Pick an amount that won’t destroy your budget, even $50 to $100 a month. Each time you receive income, immediately pay yourself by adding your set amount to savings. By paying yourself first, you will be sure that you don’t skip a chance to save by running out of funds at the end of the month.

Be Careful at the ATM:  

Use your ATM withdrawals to help you budget, not to break your budget. Plan ahead and decide how much you can afford to withdraw each week. Take only that amount, and decrease it over time if you can. If you have extra money left over at the end of the week, deposit it in your savings account.

Get Creative:  

Start your budgeting process by watching where your money goes. Spend one month just accounting for all your purchases, no matter how small. You might be surprised how much you spend on certain items or services. Plan your budget and then learn ways to save money. Here are a few ways to accomplish that goal:

1.    Take advantage of sales

2.    Use coupons

3.    Eating out less

4.    Curb impulse shopping

5.    Save loose change and make frequent deposits

Soon, you may find that having money left over each month to save is not so hard after all. But most of all...

Don’t Give Up:

Everyone has set backs. There may be times when you have to dip into savings to cover unexpected expenses. But by applying these tips consistently, you will develop a regular plan of savings that you can count on over time. And don’t forget, as your savings grows, plan on consulting a financial advisor. Note: do your due diligence by going to sites such as backrate.com, to learn how to get the highest return on your money.

Barbara Wright Sykes has been recognized by the LA Times, Health Magazine, and Income Opportunity. She is a noted speaker, consultant and the author of:
Overcoming Doubt, Fear and Procrastination
Good Lovin' Ain't Easy
Paying My Dues
Pricing Without Fear