Good Debt—Bad Debt

Key Takeaways

  • When it comes to taking on debt, always think about what it will give you in the end.
  • Fund appreciating assets; don’t fund instantly consumed or depreciating goods.
  • Credit cards are not evil if paid off in full. Loans for tuition, homes and businesses should help you build lifelong wealth if managed intelligently.

Cash Flow Clarity

Key Takeaways

  • Saving first and spending second is the habit that financially successful people of all ages have in common.
  • At the end of the day, cash flow is the difference between what you have coming in and what you have going out.
  • You want positive cash flow at all times in order to obtain favorable loans when you need them and to accumulate lifelong wealth.

The Elephant Rider

Key Takeaways

  • Understanding the importance of emotion, structure and behavior is key to financial success.
  • The older we get, the harder it becomes to change our ways–and that includes our money habits.
  • In money, as with so many things in life, you need to combine motivation with the right direction and a clear path in order to make new habits stick.

Structured Beauty

Key Takeaways

  • If nothing else, young adults should understand their balance sheet, cash flow and taxes for a happy financial life.
  • Remember to always save first, spend second.
  • As you get older, your assets grow and so do your expenses. Never take your eye off the big picture (see the first two takeaways).