3 Ways to Weather a Financial Storm

With everything going on, I know a lot of you are facing some potential financial hardships. I have clients who will be out of work for weeks, and others who are paying for extra childcare while kids are out of school. With these next few months being a huge financial question mark, I wanted to share some of what I'm telling my clients to do that are potentially facing some financial strain: PAUSE THE SNOWBALL AND START SAVING LIKE CRAZY If you feel like your hours might get cut, or your income might dip, then it's a good idea to pause your debt payoff plan temporarily. Pay minimums on all debts and pile up cash. When the financial storm is over, you can take the money you set aside and dump

Don't Rush Into Profitability

Have you ever had one of those moments where you did something dumb, and then every time you think about it you can't help but shake your head? It's almost like reliving the moment over and over. Yeah, I had one of those moments... Early on in my coaching days, I was working with a client on their personal finances. I had just read the book Profit First and already thought I was an expert (face palm moment #1). This client happened to own a business, so I decided to share Profit First with him. He loved the idea, and we started calculating his percentages. He had about 70% of his revenue going to his operating expenses, while the recommended percentage is 30%. Ugh, this is where I screwed up

How to Focus on Profit (Without Being Greedy)

I think I may be giving off the wrong impression... Recently I was listening to the Dave Ramsey Show and heard a caller ask about the system Profit First. My ears immediately perked up. My two worlds were colliding! "I haven't heard of it," Dave's voice rang. "It sounds kind of gimmicky. People should come first, not profit." My heart sank. I was tempted to pick up the phone and come to Profit First's defense. Instead I stepped back and tried to get some perspective. The truth is, I can totally see how the phrase Profit First sounds like a greedy money scheme. Now, I believe Dave didn't realize what the caller was referring to. Mike Michalowicz (the author of Profit First) speaks at many of

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Profit First Coach

info@craigdacy.com |   (512)573-4387

Austin, TX

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