The Family Business Opportunity

When I was young, and knew everything… including money, and I thought economics was only something that big business, banking, college professors and the government talked about.

As I grew older with some life experiences under my belt, I came up with the amazing idea that economics and finance was something practiced each and every day by the average family around the world. To top it off it was done without any pretense or self-consciousness of it.

I soon discovered this idea of mine was not brilliant or in fact original.

Your Family The Business

Face it… a family is an economic unit just like a business and corporation. It brings in income by selling it services. In today’s modern society many times both a husband and wife work (sell their services) to bring in money for the “Company.” Next the family has – outgo – what is called expenses of which you know what they are. Finally comes surplus or accumulated capital in the form of home equity, cash in the bank and investments.

It has a place of business, the home. It hopefully has a budget, sometimes a good one, sometimes a loose, careless one. It has fixed obligation and overhead, plenty of it. It even has inventory.

As for economic planning and personal finance, a family does it all the time – by shopping, comparing prices, by going ahead and buying, and by putting it off until it can be “afforded.” Economic planning enters into the mortgage payments, the selection of the right insurance, the college fund. I’d say that all the economic planning done by all the families is greater in quantity and higher in quality than the much advertised planning done by corporations and government, all put together. And the family needs to know “the trends,” just like any business.

Better job, better mortgage, where to invest savings, proper prices to pay, choosing a career, whether to go to college, contributions to the church or community fund, new car, or make the old one do, the vacation, the refrigerator, the kitchen, the doctor bills, the new lawn mower, the summer cottage – all these are rooted in personal or family economics.

Don’t try to make it difficult… keep it simple. Develop a budget and follow the money trail? Try it and see. We’ll help you with useful, down-to-earth, practical information to broaden your financial knowledge and begin to manage your personal finances like a well oiled corporation so you too can enjoy the fruits of a financial life in control.