WEBCAST: How to stop living paycheck to paycheck
May 16, 2007
• Fundamental errors are made by many
• Managing your cash flow is a key
Living paycheck to paycheck is a fact of life for many young people in today's workforce, but it doesn't have to be, says financial advisor Michael Rubin, author of the book “Beyond Paycheck to Paycheck.”
He says a key to breaking out of the cycle is managing cash flow.
“At the end of the day, what you really have is your savings as the result of just two things: your income and your spending,” Mr. Rubin says.
(Mr. Rubin outlines his thoughts in today’s CVBT Audio Interview. Please click on the link at the end of this story to listen or to download to your iPod or PC.)
Mr. Rubin says many young people make a fundamental error in thinking that ever-increasing income will pull them out of the paycheck-to-paycheck cycle.
Another, he says, is in picking the wrong kind of financial advisor.