Having a 10 hour work day might be normal for you as a real estate agent. With some much time spent working, you may need to take a look at your daily routine. Starting with your mornings, are you making the most of your time?
Here are a few perfect financial moves that real estate agents can make while lying down.
Review Your Bank Statements
It’s a great idea to regularly check your bank statements on at least a weekly basis. You should know exactly what you a spending money on. You should also be aware of where your marketing budget is going to, and if those expenses are providing a return on your business - especially when it comes to generating leads.
Review What to Claim on Your Tax Rerturn
Building on reviewing your bank statements, it’s smart to keep a running list of deductible expenses that you can attribute to your real estate business. There is no need to wait til April. And working as an independant contractor, you should be constantly setting aside part of your commission check to account for what you owe to the government.
Set Up Automatic Savings
Being in real estate can be lucrative, but it doesn’t always guarantee a regular paycheck like other jobs. Setting up an automatic withdrawal from your checking to automatically feed into a savings account can have a huge impact on your long-term or retirement savings. You save even more when you don’t realize you are doing it.
Price Compare for Purchases You Are Considering
When it comes to online shoppping, it’s easy to buy items or services that you might not even need. The 15 minutes you spend from your bed shopping around can save you hundreds of dollars, or even make you realize you might not need the item anymore.
Sign Up for Overdraft Protection
With your monthly subscriptions to real estate websites, advertising dollars, and expenses for life you might accidentally withdraw more than you have in your balance. You can log into your bank account and sign up for an overdraft alert. This will send you a notification if your account goes below a certain amount.
While each of these tips can help you with your finances, none of them will work if you have no income being deposited into your bank account. At the top of your income funnel you need real estate leads to convert.