"Your financial statement is your report card once you leave school."
In school, we received report cards at least once a quarter. Even if you had bad grades, the report card gave you and your parents the opportunity to know what you were good at and weak at... and then gave you the opportunity to make corrections.
In real life, people without financial statements, or report cards, cannot make corrections if they do not know where they are that month, quarter, or year.
Think of your financial statement as your report card and work diligently to have your financial report card be measured in millions or maybe billions of dollars.
Repetition is how we learn, and by repeatedly going over your monthly numbers, not only do you establish a good habit, you gain more insights into your spending patterns, you can make corrections earlier, and you ultimately take control over your financial life.
Many people pay higher than necessary interest rates simply because they have poor financial records.
Before your banker will lend you the million dollars, your banker will want to know that you are trustworthy with the money. One of the ways the banker will feel comfortable lending you that much money is if you have clean prosfessional financial records, in the form of a financial statement.
Even if you do not have a business, your personal life is a business and all real businesses have bookeepers.
