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Crafting business owners are usually left with money from their income generating hobby. It is advisable that they learn wise spending and saving habits so that they would not run out of money in time of need.

The first thing that an entrepreneur should learn in doing with her money is to give a portion (10%) of it to her church or charitable institution. It might be hard for people who are not used to giving away a tenth of their profit but how can they learn to if they wouldnt start now? This teaching lies in the concept of give so you can receive. Be generous with your money and share it as if you do, God will reward you by giving you more blessings.

Second advice is to allot a certain percentage of your profit (20%) for your retirement fund. Some people might say that it is too early to start building your retirement fund but this is not the case. I have met a lot of elders who rely on their Social Security pension and aid from their children in order to survive. Other worst cases are those who still continue to work despite of their old age. Build your retirement fund now, not tomorrow, not next month but today.

Third tip is to invest your money through various growth funds. We had been taught before that we should invest our money in the bank. Same teaching does not apply nowadays as growth funds are ideal places where you can watch your money grow without you doing anything. Growth funds are places where your money is being used to fund institutions or companies. Your money will grow depending on the performance of that company.

Last tip is to invest in various businesses which will provide you with different sources of your income. I personally believe that it is safest to have different sources of income so you can have other sources in case one of them fails.