If you’re an investor, you probably have a pretty good idea of what to look for in a company. You want strong income, good cash flow, a solid balance sheet, and as little debt as possible. Those are things that not only help to create a profit, but maintain one.
Here’s a funny fact, though: Many investors fail to apply the same kind of critical eye to their own bank balances. In fact, according to the CFP Board in the U.S., Certified Financial Planners have been filing for bankruptcy in increasing numbers over the past few years. Of course, that’s true of much of the population, but we kind of expect financial pros to know better, right?
In fact, if we applied the same standards we apply to the businesses we invest in to our own bankbooks, we would all be a lot richer for it. Find out why in my new post on GoldenGirlFinance.com.