As you guys know, my mom and my wife love to grow stuff in the back yard. I am grateful enough to be able to acquire this property with a pretty big back yard. There is a lot of stuff you can grow here, but for now, It is underutilized land. We have two big pot on the back to grow organic herb. My favorite is the Japanese Perilla ( Tiá Tô Nhật). It’s best when you warp it with Eggroll

Ok, enough about the herb. Let’s come back to food, I mean business: A senior investor recommended the reading on Profit First. I love the books. We were listening Saturday morning while going to the market to buy the ingredients to make “Bun Bo Hue”. If you haven’t tried my Bun Bo Hue, you are missing out. Here is a teaser


As I am finished with the cooking, I rushed to the back yard to collect the herb to eat it with the meal. While there are only two serving, This is what I brought back to the table.

Of course, Jenny was mad and demand me to eat all of them. Of course, I can’t. I may be eating like 3 or 4 leaves – max. I wonder myself why do I get so much. I did not intend to do it

As the book dive deep into the section of money management, the reason for my action is clear: I cut so much of the leaves simply because I have SO MUCH of them in front of me. If the plants were placed in a different pot and hard to get to with mosquitos and stuff. I probably would not cut so many and get just enough for the meal.

The metaphor above is 100% true when it comes to money management. Most people have one bank account. We usually deposit all of our salaries/commission into this one bank account. Then, we spend it all and found themselves broke again for the next month, or even week (I am guilty of it in the pass). we log into our bank account every day/week to find out the balance. We then make financial decision base on the balance. This is a receipt for disaster as you will always find yourself short.

You work hard, pay taxes at end of year, and wonder where your profit went, and blame Uncle Sam for it.

Some people work day in and day out to support their business without turning any profit. Isn’t it true that your business supposes to support you and not the other way around?

The good news is that the cure is pretty simple. and it’s in the book. It does not matter if you run a business or not, this concept can apply even if you have a W2.

The big idea is to have separate bank accounts for the different purpose of the money. For example, I always have an account nicknamed the “blow account”. My goal is that every month I need to blow a certain amount of money to make me feel good and rich without touching my “Profit Hold Account”. This is your control burn environment when you are in a desperate need for a shopping therapy treatment

Doing this will make money management a heck of a lot more fun. On my profit hold account, I even told my banker to take it off the online banking to restrict myself from getting into that money. I also have another account to hold for “Investment Fund” and setting up another account for “Personal Development”. When this account hit a certain number. I need to blow this money into some good investment that generates passive cash flow, or my personal development.  I also have another account to hold for the “Property Taxes” I need to pay before the end year.

What if you are broke and doesn’t have any money to manage?

“Simple: Borrow a dollar and start to manage that dollar!” – T Harv

Without turning a profit in your business, you won’t be able to help anyone.

Recommended reading:

Profit First

Secrets of the Millionaire Mind


Be Profitable.

Be Rich