We Live Right On The Edge

The truth is that most families choose to live right at the edge of their income, enter into obligations to fund new cars and expensive lodging and in the process forsake their dreams of travel, time with family, a different occupation they would enjoy and never attend the events in which they have great interest. Why? What is happening?

Remember, this is not a dress rehearsal. This is the real thing. In this life, we only go around once. Wouldn't it be a shame to play "I wish I had, I wish I had" rather than the game, "I am so glad I did!" The resources flowing through your checking account have a greater mission than to provide only for your survival. One truth is clear. If we are to do more than survive, we must improve our control of the flow. If we are going to improve our cash flow, we must have a base of knowledge about what happens to our money.The Basic Principles For Developing A Cash Flow System: Principle l. Every dollar that comes into your hand has only one of four destinations: 1. Someone will take it. Taxes. Interest. Waste.
2. Someone will receive it. Charity
3. You will spend it. It is gone.
4. You will save it. It and its future earnings are yours. Therefore, when you receive a dollar, some plan must exist to legitimately decrease the loss to Taxes, waste, and interest so as to increase the availability for charity, your spending, and your savings. Principle 2. Every family has to live while they manage their money. To maintain safety the family must elect to establish certain money "highway" guidelines and stay within their lane. They may be a little to the right, or a little to the left, go a little faster or slower within their lane, but they must remain within the lane or they are vulnerable. 1. The family must address their risks.
2. The family must address the basic necessities.
3. The family must stay within the law.
4. Certain events cannot and will not be postponed. Principle 3. Every Family will suffer from over choice and limited assets. It will always be true that our appetite for more will not be satisfied and regardless of the increases of resources, we will have the ability to require just a little more than we have resources to acquire. Our " I want it" is never, ever satisfied. Next Article: Who really decides where the money goes? Adapted from I MUST PROSPER Tutorial
Donald Clark, Chrysalis Consulting, Inc.

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