JULY – Joint-Venture – $timulating Tips

We have now completed half the year of 2022. Look back at the previous six months and consider what you have learned. Also, consider any victories you have accomplished.

We jumped into January with the S.M.A.R.T. Goals. In February, we learned that staying in the black is ‘where it’s at’ regarding our bank balances. In March, we discussed maximizing our natural talents, or maximizing our goals, skills or other interests that will allow us to become healthier individuals.

In April, we discussed the “T” account usage in accounting and how it relates to balancing our finances. In May, we reviewed how to minimize different types of expenses. In June we celebrated!

This month of July, I want to briefly explain a “Joint Venture”. It’s summer, school is out and you may have extra time on your hands. You and your buddy or cousin decide to make some money by asking neighbors in your area if they need any yard work done or help walking the dog. These are just two examples, it could be anything different. The two you agree to do the work together and share the money earned from working. This is the basics of a joint venture.

Keep in mind that you should always write down what each person is responsible for doing and the amount of profits you will spilt or share. Have an adult review what you have written down and when each of you agree to everything, sign the form and stay committed to the agreement. There may be some challenges along the way. Keep communication open and discuss your feelings about the jobs you have agreed to do together. Always keep an adult involved to help guide you through the process.

You may surprise yourself and discover that this is something that can grow into more than just a summer past-time. Keep your mind on your money!

https://www.lalanonprofit.org

Leave A Legacy Always

D. Porter

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I am originally from Richmond, California. I have obtained over two decades of payroll experience and knowledge and hold a national payroll certification as well as a certification in financial education. I have been blessed to establish a nonprofit organization, L.A.L.A. Nonprofit - Leave A Legacy Always. The mission is to help you improve your quality of life through financial education, while learning how to leave a legacy always. We also help our youth understand how their payroll checks are calculated and provide financial educational assistance. L.A.L.A. Enterprise, LLC, is also established, as an indie-author, I self-published $agacious $candals, the first in a series. By the grace of God, I wear many hats as a parent, grandparent, and business owner. I have yet to achieve my ‘greatest accomplishment’ and I am looking forward to pursuing "it". Please stop by our website and subscribe for updates www.lalanonprofit.org
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