The amount of money you can make at any time in real estate is ridiculous. That makes it easy to lose perspective of money and spend it thinking it’s always going to come that easy.
It’s easy to overspend and not pay taxes, thinking you will just make it up next month or next quarter.
They’ve given poker chips most of the credit of why gambling picked up the way it did. People spend more with a credit card versus cash. When money becomes less real, we treat it like it’s a play thing.
What some agents do is pay themselves a salary and put any excess in a savings account. If you have direct deposit that makes it a bit easier. Ignore the balance.
Another step higher is to have multiple savings accounts. One for taxes, one for business expenses, one for play, one for life and one for whatever is left but most agents aren’t that disciplined. I suggest a good accountant to help you keep it real.
