Wednesday, August 08, 2007

I struck gold!!


Well kinda..lol!
Before I first started up my business I was pretty good at saving and for the most part thought I was good with my money. Well after throwing a full blown business into the mix and starting it when I was 17 I didn't really have a grasp what I was financially getting into! lol! After, not having any of my finances organized last year and doing my taxes this year myself and last minute I decided something had to change! First I got quickbooks set up which is awesome! I have someone log all my receipts every months so I know where I am and have everything categorized. The next step I put into place a couple weeks ago and it's working out soooo wonderful. I feel like I have so much more money but it's just because I'm just being smart about it! I got a couple more bank accounts last week so that then all the money that comes in goes through a percentage filter so I make sure I'm saving, setting aside money for taxes, giving, and etc... Having the additional bank accounts really helps me not spend that money that's supposed to got somewhere else! HAHA! Well I decided to break it down even more with my savings and I just started buying gold(and silver) with a percentage of it. I'm going to buy a couple coins each month to get started and then work my way up. It's so important though to have your money in different places not all in one place!! Especially in this economy with huge threats on the dollar, gold is soooooo much more secure!! I'm excited!! It makes saving fun! You should try it! :)
Ok..that was your business lesson for the day! haha!

13 comments:

Emily DeWan Photography said...

Hooray for finance tips! Never thought about buying gold. Good for you!

Morgan Matters said...

wow, i have so much to learn from you! can't wait till Sept :)

BarlowGirl said...

Wow...that's smart...too smart....my brain just officially turned to mush :);)

Anonymous said...

Ooo--woops!! I totally put in the wrong name :/
lol
That was me, erica, sarah!
not bg!

Jeanette Sanchez Photography said...

Hi Sarah, I want to introduce myself and tell you how much I have enjoyed following your blog. This post was most particularly interesting since we can all benefit from finance tips, thanks!

Mary Bess said...

wow!! you barlows never cease to amaze me! I can't believe you were only 17 when you started your business...and that's how old Andrew is now right? You guys are AMAZING!!!

xoxo
M:)

rowena said...

You go Sarah, for such a young gal you sure are a smarty!

Anonymous said...

Don't forget Matthew 6:19-20

Jamie Delaine said...

So cool! Sarah I just wanted to let you know that you are SUCH an inspiration to me! I just turned 17 and have had my business for about two months and am so excited about all the possibilites God has for me. You are living proof of that. Just a little encouragement: you inspired me with your journal blog post so much so that I've decided to start my own prayer journal. Thanks for being the light that you are!!

Ginger Murray said...

I was playing with my bank account and my savings options today!
I thought the same thing today... I have so much money!! But really, I don't, but it's so great to set it aside and see it grow.
I'm in search for a better savings plan/account though... Mine seems to have super low interest... But maybe that's the way they all are? I feel like the bank owes me $500 for every $1000. That makes sense... right?? :)

zulughana said...

I am impressed

Sarah Barlow said...

Thanks guys! Yeah, it's so much fun to do this...it's like playing monopoly or something! haha!

Jamie! That is so awesome! I love hearing things like that! It's so encouraging! Wow! You're so far ahead! Can't wait to see what you do to this industry!

Ginger, I agree they should be paying us big bucks! haha!

Chi Kuang said...

With all the woes among the financial institutions and the property market, gold is probably a really smart way to go. Good for you!