08 July 2010

Limit your spending power

Automated teller machines (ATMs) make getting cash very easy - which is very bad for your bottom line. Just take a look at your bank statements. See all those $40, $60, and $100 ATM withdrawals listed? Can you account for that cash? Probably not. So, make this the rule: Decide on a minimum amount of cash you need for a week. Withdraw that amount on Monday, and do not make another cash withdrawal until the following week. If something important comes up, wait twenty-four hours if possible. Chances are it won't be as important as you first thought. If it is then make sure you EFTPOS the exact amount needed and not a cent more.

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