Note: During the month of March, I'm migrating old Money Boss material to Get Rich Slowly — including the articles that describe the “Money Boss method”. This is the second of those articles. Part one answered the question, “What is financial independence?”
For the past several years — since I published the Get Rich Slowly course in 2014 — I've been trying to teach people to think like a CFO. Here's my fundamental premise: You should manage your personal finances the way a business owner would manage hers.
To illustrate why I think this is so important, let me introduce you to my friend Harlan…
When he was 25, Harlan's world fell apart. In a matter of weeks, his girlfriend left, he lost his job, his car was impounded, and he was evicted from his apartment. When he moved back in with his dad, he knew he'd hit rock bottom.
While looking for work, Harlan did some soul-searching. He realized that for too long, he'd been letting life happen to him. He'd been letting other people and outside events control his destiny. He blamed his situation on the economy, on his boss, on his girlfriend – on plain old bad luck. He blamed everyone but himself.
But blaming others only left him feeling helpless. [Read more…]