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Unformatted text preview: liabilities. 1. Assets put money in your pocket such as real estate and mutual funds. 2. Liabilities take money out of your pocket: cars, mortgages, luxuries. B. Most people do not know the concept of cash flow. 1. Your income minus your expenses equals your cash flow (I-E=C). 2. Reducing your expenses increases your cash flow with out the need to increase your income. C. Set goals by determining what you want to do in life and deciding the income it will take to make that happen. Conclusion: In conclusion, creating assets, reducing your expenses, and setting long-term goals is the key to financial success and conquering the chains of a paycheck-to-paycheck lifestyle. I hope these ideas will help you in creating a good financial future and happiness in life. Time is on your side, start saving now. References: Kiyosaki, Robert. Rich Dad Poor Dad . New York: Grand Central Pub, 2000....
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- Spring '08