Saturday -- May 19, 2012

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Your Money Talks

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Your money talks. Make sure you are listening.

As you move further into holiday shopping, cover your ass(ets) by keeping these simple money management tips in mind. They will help to infuse your buying behavior with knowledge, caution and confidence.

  • Assets make you money. Examples of assets are investments in profitable real estate, businesses, and appreciating stocks.
  • Liabilities cost you money. Liabilities include the mortgage on your home and the lease on your car. Don’t get confused. Your home is an asset on the mortgage holder’s balance sheet. Until it’s paid for, your home is a liability on your balance sheet.
  • Doodads are impulse purchases that decrease your cash flow. Doodads are eye candy that you think will make you happy, healthy, sexy and confident. They don’t. Doodads provide momentary pleasure while depleting your cash. Leave them in the store. You have bigger dreams to realize.

It was playing Robert Kiyosaki’s Ca$hflow game that helped me *get* these financial facts. If you haven’t played it, I recommend that you do. Play it often. I agree with Rich Dad’s claim — ‘The more you play this game, the richer you become.”

Ca$hflow would be a wonderful gift for your family and friends. It’s a gift that keeps on giving you knowledge, investing experience, and exposure to the world of finance. It teaches you how to get out of the Rat Race — where you’re a paycheck or contract away from big time money troubles. This knowledge is especially important in these times of economic uncertainty.

  • Free is good. Market Watch’s Free is Priceless includes specials in finance, entertainment, books and guides that are well worth checking out.

What sites have you found to reduce your holiday expense? Do you know other personal finance and wealth building games? Share the links with us. Thanks!

Let’s thrive!

Judith

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  • http://www.bryanspann.com Bryan Spann

    I have not played the game yet but I will love to. I love to surround myself with people like you. I follow you on twitter and FB. Also I left you a link on FB. for a people search engine. This is what mine looks like.

    http://www.Re-Search.ws

    I gave my nine year old son one also. It’s free to set up and $10/ to maintain the hosting from GDI. The reward is well worth it. Here is the movie if you have not seen it already.

    http://www.my.ws/sysine

  • http://yestofinancialfitness.com Judith

    Hi Mark,

    You’re right. The Ca$hflow game is expensive. So is money ignorance, as you know.

    There are Ca$hflow Meetups around the country, so you can play without buying the game. Look for one in your area at http://www.Meetup.com. Real estate firms also sponsor local games because investing in real estate is a key game strategy.

    If/when you decide to buy, purchase it with a friend or associate. You need to play with 2 or 3 others. The more often you play, the more avenues you’ll see to win. It’s amazing how many ways there are to get out of the rat race, and how your occupation and salary doesn’t have to limit or determine your financial results.

    It’s how we play the game that matters. We get to greatly influence the outcomes. Yea!

  • http://buylikebuffett.com/ Mark

    Good point about assets, liabilities and doodads. I was going to try the casflow game two year agos but the price was pretty steep.

    Marks last blog post..Oil Stock Buy