By some of the questions I have already received, there is the perception that I am done sending financial advice. I've just begun. Every 3-4 days I will address additional subjects. I am starting slow. If I were you I'd print out each musing.
Now, each person is his/her own business. We need to call ourselves Deborah Andrews, Incorporated or Christopher Andrews, Incorporated. Each person has a set of skills and values that it brings to the marketplace and somebody pays for those skills or values. When you go to work for somebody, they pay you money (remember my first session). Once you receive the money for your services, you spend it on different things. IF YOU WANT TO SUCCEED, YOU NEED TO SPEND LESS THAN YOU MAKE. If you can't produce positive cash, then you need to earn more or spend less OR BOTH.
For example, Paul Andrews, Incorporated is struggling. His company has cash coming in from spousal income and the company spending habits are high including predictable monthly expenses. Paul Andrews, Incorporated has made a stategic decision to increase the value of the service he will be offering by going to school to get a bachelors degree. This will improve the amount of new money coming in long term which in addition to spousal income, should produce significant "new money". In the meantime, grants, aids, and student loans keep the business going. Once Paul Andrews, Inc. goes to market to offer the improved product (himself), he needs to manage the newly found cash wisely to keep the company on sound foundation.
As you look at yourself as your own business, you'll find that it takes time to manage effectively. Yes my children. Planning, budgets, cash management and retirement allocations become important.
Kelly, Incorporated offers Dr. of Chiropratic Services. Chris, Inc. offers earth moving supervision/management services. Margaret, Inc. offers skills in computer software management. Maximize the income from those skills.
There will be much more to come on managing yourself as a business. You are important. Your have skills. Maximize the income from those skills.
Patience Paul. Oh thee with many questions waiting for magic answers.
Love
Dad (Just Chas)