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Managing your finances, credit and investments is not an easy task at all but don’t think that you have to do this on your own.  Financial and credit consultants are not just for the rich and getting advice from them may be beneficial for anyone who feels overwhelmed with their finances.  Of course we can’t all afford Suzy Orman bt there are many people who offer advice and tips. Donnell Bobo of DB Financial helps people build their financial portfolio through personal and business credit consulting as well as investment consultation. Bobo says with the recession we had a few years ago and the housing market crash many people are trying to rebound from a financial fumble.  On top of that there are many entrepreneurs and creative artists who eat what they catch and create their own income as opposed to being guaranteed a paycheck every other week. In this instance it may be challenging to manage your finance. While the luxury of having your own business comes with freedom, peace and many rewards, the hustle and bustle of being an entrepreneur can take its toll on credit and money management.

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Examine when is your best season of the year.  Focus on this in terms of marketing, sales and visibility and be prepared to capitalize on your best season but be smart enough to save during this  period. You must have a saving that you don’t really touch. Create a goal of what you want your monthly revenue to be and try and exceed your own expectations.

Overpay your bills.  If you have a car-note or credit card bill always overpay your bill.  If you owe $300 dollars maybe pay $310.00 so that this reflects on your credit card.

Have some business credit so you may be able to pull from this in the more difficult times and this way you’re not running so dry on your personal funds.

Have an investment that you are acquiring additional income from.  This could be stocks, real estate, bonds or other businesses.

In addition to these tips from Donnell Bobo, we have a few from US World News below.

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1. Keep your credit card expenses to a minimum. If you’re like many young adults, you’re likely to keep a balance on your credit card. If so, then think about shopping for the right low interest card to lower your credit card bills. If you’re doing a consistent job of paying your balance in full each month, then using a card with a rewards program is a much better deal, since these cards tend to offer higher rewards along with relatively higher APRs. But if you don’t maintain a balance, you’ll be able to avoid paying interest while earning and enjoying those free benefits.

2. Look for alternatives to credit cards. If you see yourself as the ultimate spendthrift, then perhaps a debit card could work for you instead of a standard credit card. Sometimes, we just need to work with limited resources in order for us to learn how to discipline ourselves.

3. Make it a habit to use coupons. A lot of people are now turning to coupons as well as to cash-back shopping sites for special deals. You’ll be surprised by how much you can save just by being resourceful.

4. Learn how to budget. When you’re first starting out, having a budget can provide you structure for the way you handle your finances. You’ll develop discipline by adhering to your budget and by respecting its boundaries. Let’s drill down a little further to see how it’s done: