Basic Budgeting - Get it right and watch you and your business flourish

In this podcast, Rob talks about some of the things he learned while taking Martin Lewis´MSE´s Academy of Money course on Open University. That course is all about the basics of budgeting and how applying them to your business and personal life will help you to flourish. Including recognizing the difference between good and bad debt and how to leverage good debt to invest in cash-generating assets. Sign Up For MSOPI Here: https://bit.ly/msopi-nomad KEY TAKEAWAYS If you budget properly and live within your means you should end up with surplus income. You should not be scared of debt. But do need to understand the difference between bad and good debt. When you are financially disciplined in your personal life you will be in your business too. To purchase property, you use good debt from the bank to get assets. Set aside money in a reserve account for things that can go wrong e.g., you need new tyres for your car. All landlords need cash reserves to use for emergency repairs and improving a property when it becomes empty. For example, installing a new boiler.   BEST MOMENTS ‘If you budget properly then you´ll end up with surplus income.’ ‘The whole point of property investing ...you use good debt from the bank to purchase assets, cash-flowing assets.’ ‘If you use debt wisely you will have a great time.’ PODCAST RESOURCES MSE´s Academy of Money Open University course The Richest Man in Babylon by George S Clason The money podcast by Rob Moore VALUABLE RESOURCES The Property Nomads Website  Buy to Let: How to Get Started – By Rob Smallbone (Amazon)   ABOUT THE HOST  Rob Smallbone the host of The Property Nomads Podcast, is on a global mission to guide your success. Success can happen in many ways, shapes, and forms. Think about what success means to you. More properties? More clients? Financial freedom? Time freedom?   Rob wants to make a huge difference to people around the world. He is here to guide your success in property, business, and life and to inspire you to achieve your goals, dreams, and visions. He's travelled, explored, and invested. And he's not planning on stopping these activities anytime soon.   Buckle up, sit tight, and enjoy the ride that is life.   CONTACT METHOD  Facebook Instagram Twitter     uk property, Investment, Property, Rent, Buy to let, Investing for beginners, Money, Tax, Renting, Landlords, strategies, invest, housing, properties, portfolio, estate agents, lettings, letting, business: https://patreon.com/tpnpodcast