Page 16 - Workbook1E

Principles of Flight.
Tom was excited. He waited two weeks for his first radio-controlled airplane kit to arrive in the mail. Tom read the instructions and spent every evening for a week building his airplane. Saturday he took it for its first flight. But no matter what he tried, he couldn’t get his plane off the
ground!
Tom didn’t know a basic principle of flight used to shape aircraft wings. The wing shape—curved on top, flat underneath—causes the air to flow over and under the wing in a way that lifts up the plane.
Tom came home and told his father about the plane’s trouble. Since his father was a pilot, with one look at the plane he realized the problem. Tom had put the wings on upside down. He showed Tom how to fix it and explained the principle of lift. Tom not only fixed the wings, but also used the principles of flight to modify it to
perform better. Other people asked for his help with their planes, because now he knew the principles of flight.
There are principles in the financial world just like in the natural world. To be financially successful, you must learn these principles and live your life in line with them. Then you can avoid financial bondage and enjoy financial freedom.
These principles affect your life whether or not you know it. You can choose to follow or ignore them. But you cannot choose the results of your choice—they are governed by financial principles. So choose wisely.
Three powerful financial principles will plant your feet firmly on the road to financial freedom:
1. Live on Less than You Earn.
2. Put the Power of Interest to Work for You. 3. Exercise Financial Discipline.
When you consistently apply these principles, you will free yourself from debt—end the worry over money—and build wealth. It’s all yours when you understand the power of provident living.
1 Live on less than you earn.
Advertisers spend billions trying to convince you to be unhappy with what you have. They tell you happiness is in more things, nicer clothes, faster cars, newer furniture, or great vacations. So how much is enough?
“The rich ruleth over the poor, and the borrower is servant to the lender.”
~ Proverbs 22:7
12 Workbook 1: Building a Spending Plan that Works