One Simple Change That Will Increase Your Financial Success
August 26, 2006
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One of the biggest differences between people who are financially successful and the vast majority of the rest of the masses of people just making it living paycheck to pay check is that financially successful people know where there money is coming from and where it is going.
The equation is simple. It looks like this:
Income - Expenses = Cash Flow
If our Expenses are greater than our Income then our cash flow will be negative and we gradually slide deeper into debt.
If our Income is bigger then we accumulate money and we have extra to save and invest toward our financial success.
Most folks have a reasonably good handle on the first part. They know they get paid on Fridays. They know they make so much an hour or so much a year.
But often that is as far as it goes.
