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Add up all your monthly expenses, so you know what a month of personal expenses really are for you.
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Still in a day job? Then start setting aside 5 percent of your net pay each paycheck and build savings.
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Sound like too much? Start with a goal of setting aside $100 week=$5,200 a year, which is a nice cushion.
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As an entrepreneur, you want to be sure that whenever you take a cash draw from the company, you set aside money for tax. Don't be surprised later with a nasty tax bill.
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Start now. The most important thing is to create a habit of saving each week.
Topic starter
Posted : 15/02/2010 4:40 am
Re: 5 Tips for 6 Month Cash Reserve
Thanks for sharing the very useful tips. It will be very helpful for us.
Posted : 15/06/2010 10:19 am
Re: 5 Tips for 6 Month Cash Reserve
For a successful business there should be some cash reserved in fulfill the company emergency crises and the other. It is the main aspects to consideration in mind. A cash reserve is a fund that you make to save money for future use is. Going into debt unnecessarily risks and their personal finances, which is something that you can avoid spending says, if you have a cash reserve fund reserve.Having will prevent you from having to go into debt if you have a financial cash crisis, which faces a positive thing because you want to avoid debt if at all possible. The financial advisor that you have a cash reserve most of the building as soon as it practically possible for you and your family from the start is recommended.
Posted : 30/06/2010 7:08 pm
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