We Should All Be Millionaires

Create your million-dollar systems

Instructions

Track your net worth.
In order to build wealth, you need to know your net worth first. Calculate this by subtracting all your liabilities from your financial assets.
Track your credit score.
By tracking your credit score and seeing what affects it each month, you will be able to make financial decisions that lead to abundance.
Decide on the right entity for your business.
Once your business is receiving money from clients, do your research and meet with trusted professionals (e.g., accountants, lawyers, etc.) to find out the right business entity. Once you've established your business entity, you should obtain an EIN (Employer Identification Number or a tax ID for your company), which you can use to open a business bank account.
Open a business bank account.
You can then open an account for your business with your EIN and Articles of Incorporation. Your business bank account is where you should make all business purchases and where customers should deposit all their payments. This is also where you’ll get your income.
Check your finances daily.
Every morning, check your bank account balances and recent transactions. By checking in daily, you can detect issues before they arise and notice patterns in your spending and earnings. The patterns will give you ideas for how to improve the way you manage your money. You can also purchase bookkeeping software (like Mint or Personal Capital for your personal finances and Xero or QuickBooks for your small business finances).
Hire a bookkeeper.
It is non-negotiable to hire a bookkeeper if you already have an established business or side hustle. This bookkeeper should be able to report the business expenses every month in a profit-and-loss statement and balance sheet.
Have money dates.
Reflect on your financial situation regularly by reviewing your books and your most recent bookkeeping reports. If you notice any patterns or personal insights after looking at the numbers, write them down. Then, consider your limiting beliefs and spend some time reflecting on them. What's a recent money story you've been telling yourself? How can you reframe them into more positive beliefs? Finally, set financial goals and brainstorm at least 25 new money-generating ideas. Once you have implemented one of these ideas, reward yourself!