May 20 2008
The defensive strategy for the people who are in a financial mess is to cut down what you are already spending on.
You don’t have a possibility to start any business being in a financial mess. You need to have lots of cash flow coming from your pockets if you are going to succeed.
Here are some things you can cut down on
• Smoking
• Alcohol
• Night outs
• Gambling
• Vacation and Country Clubs
• Food
• Laziness
Most important of all, don’t buy anything that constitutes a liability. A liability is anything that takes money out of your pocket no matter what they are worth in the future.
So, think in terms of cash flow. What can I invest in today that will give me funds tomorrow?
And the next post is about to explain the offensive strategies of getting out from the money mess.
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