In the previous blog, we looked at the ‘profit first’ theory which is the same as ‘paying yourself first’. This means putting money into your superannuation fund from your pay check before you spend money on anything else.
In this blog, we discuss one of the theories from a book called Profit First by Michael Michalowicz. We decided to base a podcast around this because many of its principles can be adapted at a household level. In financial terms, the ‘old way of thinking’ is discussed in the book, which is referring to the formula ‘the revenue of a business minus the expenses equals its profit.'
Dallas Davison, Michael Hogue and Ali Hogue.
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