Budgeting and Debt

This week we talked bout various important elements in starting a business. The following topics and points are ones that stood out to me.

Overcoming Debt.

1.     I am not sure about any of you, but I know this, that God exists and that he is more deserving of me, my time, my energy, and anything that I accomplish. He puts effort into assisting/guiding/putting godly influence in my life, that I may achieve my goals. To support that, I return 10% of my income to Him by way of tithing to my clergy. This act of faith is more than just giving up some of my income, but showing an increased of faith that I know I will be provided for with my expenses and anything else that I have to pay for.

2.     Spending less, learning to save.  This simple notion will help anyone get out of their troubles and be able to accomplish future financial goals that could be achieved.

3.     Teach Children. I feel that this is one important thing to remember. We could be examples to many people around us. Children have the most malleable minds. But it is important to remember that the important lessons that we can teach are better taught when we are the example to what we want them to achieve.

$100.00 Challenge

     As we looked at the challenge this week we focused on getting it started. There was an important raise in $20.00 in capital. I funded the business by bootstrapping. This is when the entrepreneur raises funds for the company on their own. $20 is not that much of an expense for the business. I am planning on spending the capital on supplies. I find that this will be the base of the company. I do want to be able to utilize revenues and sales to be able to send to more vendors, finding customers, and buying more supplies.