YOUR FINANCIAL FAST TRACK

It's time to mind your own business

Most people are programed to mind other people's business and make other people rich.
It begins innocently with words of advice like:

1. Go to school, get good grades and find a safe and secure job.
2. Work hard so that you can buy the home of your dreams, after all your home is an asset and the most important investment.
3. Having a large mortgage is good because the Government gives you tax breaks or deductions. 
4. Buy now pay later or easy monthly payments -Those who blindly follow this advice often become:

• Employees, making their bosses and owners rich.
• Debtors, making banks and money lenders rich.
• Taxpayers, making the Government rich.
• Consumers, making many other businesses rich.

Instead of finding their own financial fast track, they help everyone else find theirs.

Take Action

1. Find your own personal financial statement. In order to get where you want to go, you need to know where you are financially.
2. Set financial goals for where you want to be, both short and long term goals.

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Take control of your cash flow.

Making more money will not solve your financial problems. Many people are never schooled in the science of  cash flow management. -They are taught how to read, write, drive cars and swim but never taught how to manage their cash flow.

• More money will not solve the problem , if cash flow management is the problem. People who cannot control their cash flow work for those who can.
• Map out a plan to get control of your spending habits. Minimize your debts and liabilities. Live within your means before you try to increase your means.

 

Cash flow management plan

1. Pay yourself first.
2. Focus on reducing your personal debt.