A couple years ago I was in need of an audiobook to listen to during a long drive, so I picked up Money Secrets of the Amish: Finding True Abundance in Simplicity, Sharing, and Saving. To say the least, it was an interesting "read." In case you were thinking about reading this book, I'll save you the time and give a quick summary. Here's why the book says the Amish do … [Read more...]
Save Overview: Just as Important as Earning
Let's talk about the "S" in "ESI Money." As noted in the explanation of the site's meaning, the "S" stands for "Save." Saving is the second part of the key financial guideline "spend less than you earn" (the first is to earn as much as possible) and is just as important as its brother. Two Parts of "S" As it relates to its use in this site, "save" actually has two … [Read more...]
The Importance of Tracking and Managing Cash Flow
Now that we've covered the importance of measuring and tracking your net worth, let's move on to a financial measure that's almost as important. It's important because it's a major driver of net worth. It's called cash flow. What is Cash Flow? Cash flow is simply income minus expenses. It's what you make/earn less what you spend. Income less expenses. The difference … [Read more...]
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