Money Management

One of the things I have learnt is that there is always way's to make money, making money is not the hard part. Keeping it is.

Many people I know have been destroyed financially by this global crunch, some with much more wealth before it than me, some less so. So what did they do differently from me. I guess not acknowledging the changing times and moving with it. Some will never start investing or trusting the property/stock market again.

Having said that, some people saw the coming change and managed the times a lot better than me.

So I guess the take away lesson is this;

Making money is the easy part, keeping it and managing it in a reliable safe manner is so important, but so easily over looked. Most people (myself included) focused purely on making it, not keeping it.

Like Warren Buffetts famous 2 rules

Rule No.1: Never lose money.
Rule No.2: Never forget rule No.1

So am closely following cash flow positive transactions now, and keeping my cash flow at a constant positive rate.