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by Philip Scott
It's been pouring on the Gold Coast, and it always makes me think about that old saying ... saving for a rainy day.
So this is going to be a slightly philosophical (not it starts with Phil!), but what does that really mean, and is it smart to do so? (It relates to business and systems I promise! Work with me here!)
Saving for a rainy day I guess stems from back when everyone worked outside and if it rained you couldn't work ... so you didn't get paid. These days we have insurance against "rainy days" ... it's called income protection and you should to talk to my good friend Richard Hill about that!
There is another saying ... "prevention is better than cure", and while this was never meant to apply to business, I believe it's appropriate. Prevent rainy days from upsetting your business by having income protection, and passive income aspect to your business.
No, I'm not trying to sell you a multi-level marketing program! I'm trying to show you yet another benefit of implementing systems in your business!
Passive = Nothing for you to do.
Income = What we all need to a) survive, b) thrive.
Passive income comes from putting in a lot of work in the beginning, so you can be passive at the end!
So I don't believe in saving for a rainy day ... I believe in investing for a rainy day. And that doesn't mean just money, it means mostly time! So for now I'm off ... going to invest some time into growing my passive income!
Posted in business |
Posted by Philip Scott
23 Aug 2011

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Try calling the card and asnikg if they will lower the interest rate. Some companies will do it one a year or every two years if you ask, but they won't tell you about it. If cuts into their profit. If that doesn't work, Capital One has some cards that have free balance transfers, and if you can qualify for one with a lower rate, I would recommend switching to them. You could also buckle down and make bigger payments. You may have to sacrifice a little, but you don't want to be paying twice what you thought for whatever you bought on that card. And debt-free is so very nice.
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