To have a clear overall picture of your financial situation, you will need to know the four different types of inventory: tangible inventory, accounts receivable, accounts payable, and inventory held for sale.
This is actually one of my favorite lessons that I learned about finances from the financial planner that I worked with. He said to me, “It’s really important you take inventory.” I always thought that was a weird thing to say, but I guess I just really needed to hear it.
The biggest challenge in building your own inventory is the trade-offs between physical and capital. The key is to make sure that your physical assets are balanced, in a way that will help you get your personal finances running smoothly.
I love this lesson because it’s true. When you’re building your own inventory, you can’t just count every item on paper. You need to keep track of the good, the bad, the ugly, and the ugly-ish. In other words, to account for your own personal financial goals, you need to know what you really need to get your finances working.
In your budget, you need to consider what items you should buy and what you really need to buy. If your financial goals are in line with what are your personal goals, then it’s better to get rid of this kind of inventory and focus on your personal goals.
What we want to do here is give people a way to earn more money, have more power, and get a better job.
This is a pretty common thing that happens in budgeting. If you want a better job, you need to buy a better car. If you want power, then you need to buy a bigger TV. When we feel like we have too much money, we often get a little lazy and buy the stuff that we don’t need.
When we first started with the game, we realized that we would not know what to do with the money we accumulated in the first place. Instead, we would create a budget that basically says, “If I’m ever going to get my money back, I want to get it back” by doing a little research. We would make as much money, but would also then spend it on things that we needed to see as we moved forward. It’s all about the money.
This is a great example of the game being about money. We all want to get our money back, and that is why we spend it on what we need to accomplish. We always have to be budgeting and re-budgeting, and its a good thing too because it helps us to focus.
The way we think about money is that it is money. If we are to get our money back, we need to spend the same amount of money as what we had originally put down. So we spend money on things that we need to see as we move forward, and then we spend the money we have not spent on the things we want to do.