The goal is for you to achieve financial freedom

  Leasing out your holiday house to others can make owning that property more affordable. The principles that apply to an investment rental property also apply to leased or rented holiday houses. This means owners are entitled to claim expenses for the property based on the proportion of the income year when it was rented or available for rent. Some deductible expenses include: Property insurance Interest on any funds borrowed to purchase the house Repairs and maintenance costs (such as materials, council tip fees, trailer hire) An agent's commission The decline in value of depreciating assets Capital works However, if owners use the holiday house during the year, they cannot claim any deductions for the expenses that relate to that private use. This includes use by other family members, relatives or friends. For example, if the house is available to rent for most of the year, but two weeks are unavailable for personal use, then that two weeks must be ignored when calculating deduc

  A contributing factor to a business's success is the owner's personal financial stability. Business owners who carry personal financial troubles into their business risk being distracted by their personal situation, which can affect concentration levels and decision-making processes. Rather than thinking of how to keep improving a business, time may be spent instead thinking about how to earn any much-needed money. Owners should also keep their personal financial situation completely separate from their business in terms of money. Borrowing any money from the business to pay personal bills can very quickly lead to a disaster. One way business owners can avoid this kind of predicament is to clarify and track their business goals, as well as face up to dealing with the obstacles that will come with running a business. There will always be rough patches that can set a business back a few steps, but that doesn’t mean that the business is a failure. Setting a series of small goals