1. When vacationing, save on transportation by staying close to home.
2. Save on film developing and printing by ordering from mail order firms.
3. Look for banks that offer traveler’s checks as a free service.
4. If you decide to take an ocean cruise, take a “no frills” freighter.
1. Wash and reuse foil wrap.
2. Save “junk mail” reply envelopes for filing recipes, receipts, etc.
3. Trade things you don’t want with friends, neighbors, relatives.
4. Restrict family between-meal snacks to inexpensive and healthful in-season fruit and vegetables, home-popped corn, raisins, etc.
It has been said you can lift the Rock of Gibraltar if you have afulcrum point and long enough lever. When we refer to “financialleverage” we are talking about the same principle. If you buy abusiness building for $100,000 with $5,000 down, this is usingleverage of 20 to 1. For a mere 1/20th of the purchase price, youactually own and control property that is 20 times more valuablethan your cash investment.
Success in business comes as a result of planning. You have tohave a detailed, written plan that shows what the ultimate goalis, the reason for the goal, and each milestone that must bepassed in order to reach your goal.
You may be in Mail Order, Direct Mail, or you may be a localmerchant with 150 employees; whichever, however orwhatever—you’ve got to know how to keep your business aliveduring economic recessions. Anytime the cash flow in a business,large or small, starts to tighten up, the money management ofthat business has to be run as a “tight ship.”