Alchemy is delighted to offer bookkeeping and tax services to almost 100 real estate businesses across the US. After working with these businesses, I’ve noticed some patterns that separate those who are making progress from those who are struggling.
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Here are my top insights:
- Engagement is essential:
It’s funny how the more time you spend on your finances, the better you become at managing them. Who would have thought, right? It’s almost like practice makes perfect, or that old saying, “You get out what you put in.” So, instead of spending all your time avoiding this topic, dedicate some time each week to work on your finances. It might not be as entertaining as the latest episode of your favorite show, but the payoff is worth it – and trust me, financial stability is a great feeling.
- Focus on the small things:
It’s ironic how little things can make such a big difference. Sometimes, it’s the tiny details that can throw off your financial plan, like that one credit card you keep using for your “extras”. But don’t worry, taking care of these small tasks can give you a greater sense of control over your finances. Plus, checking off those little to-do’s can give you a sense of accomplishment that even the most epic of adventures can’t provide.
- Practice patience:
Ah, the joys of patience. It’s funny how the things we want most always seem to take the longest to achieve. Building new financial habits and systems can take time and effort, but that’s okay. As the saying goes, “Rome wasn’t built in a day” – and neither was your wealth fund. So take it one step at a time, and don’t forget to enjoy the journey. After all, the most beautiful views often require the most challenging climbs.