In our world of pop culture, status seems to mean everything. Men will go to absurd lengths to reach the apex of the social scene, falling into the pressure trap by shelling out for Grey Goose martinis and $1,200 suits.
Whipping out a little piece of plastic perpetuates the fallacy of this illusion. While this may provide ample time to master your signature, few will be impressed; worse yet, interest rates 15 percent above prime won’t help you sleep at night. If this is you, there is hope. Understanding cash flow will bring you to financial freedom. Forget any simple formulas or get-rich schemes, all you need is the right mentality. While girls may be impressed with your $10,000 watch, chances are the allure will pass when they find out you can’t afford a battery. You can control your cash flow by following these rules:
1. Don’t spend more than you make
2. Acquire assets, not liabilities.The debt-ridden junior executive driving a Porsche and renting a $5,000-a-month SoHo loft will be hurting more than the kid in shipping pulling $30,000 and lugging around in a Civic. Learn to live within your means. Say you’re in the market to lease a car. If you scrape by, you can afford $500/month. The worst thing you could possibly do is overextend yourself and push yourself into debt.
Next Page
