Money is a HUGE part of our life, yet schools don’t spend time teaching us how to manage it and most families don’t share their experiences with one another. Without guidance and learning best practices to achieve success, we are set up for FAILURE before we even begin our relationship with money. It seems reasonable to believe that it would be a good idea to acquire some training on how to effectively think about and handle money BEFORE we get started.

These are a few basic points about handling and thinking about money that I believe are the FOUNDATION for all other decisions you will ever need to make with money.

Everything is about cash flow
Work to control the outcome
Average rates of return are misleading
The government is not your friend
Unicorns aren’t real
Banks are not your friends
Projections are made up
Don’t be a consumer
Know the difference between leverage and debt

9 Basic Principles For Managing Your Money - Encore