Where are you directing your cash?
We all hit a point where things will start changing for us and this might be because we get a new job or our long-term business that was not doing well start doing extremely fine and some of us are lucky enough to win a lottery but the difference between are broke days and our gain days is because we now have access to a lot of cash flow.
Immediately our story changes what comes to our mind is where we can direct the cash flow because now we can do anything. Some people chase what brings them comfort and what makes them obvious for others to see and this comes as a long-term desire or long-term plan to direct their cash flow to what they see fit.
We end up with a lot of liabilities and no real way to secure stability. The more liabilities we acquire the more it is difficult to do something with the cash flow that is coming our way because the value decreases over time. The higher the liability the lower the value of our income which sometimes most people don’t realize.
Do better
Liabilities build over time and before you know it is out of control that is why immediately we gain access to class flow we must create more cash flow because this way we can create stability. By buying things that increase in value over time and things that fetch us more money with this way we can say we are building towards stability.
We have many things we can do to acquire financial stability but we must be mindful of what we are gathering because if it is a liability we are only building our future on sand but investing and buying an asset that generates more money is the best way to go.
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Directing the cashflow into acquiring more income generating assets is indeed the way to go. I think the goal is to first have a substantial income generating assets before spending the cashflow lavishly on comforts or things that makes us happy.
Liabilities can hurt and I think people should try to solve them first. For example, any type of debt tends to be bad. Most of the time, you aren't generating more than you ower and that hurts your finances as well as any plans to invest that money.