Thursday, March 10, 2011

One Step at a Time

He writes that one should not try to accomplish everything at once. In the rest of his book, he writes about taking things one step at a time and in order, not skipping around. Sounds good to me; one must stick to a plan.

In the Rich Dad series, Robert Kiyosaki and Donald Trump deride the advice to live below one's means. They say that their approach is to expand one's means. I think that they're setting up a false conflict here.

Ramsay emphasizes getting one's expenses under control; RK and DT emphasizes expanding one's income. Both emphasize their areas but I notice that neither excludes the other. Hence, Ramsay mentions taking a part-time job in order to save $1,000; and Trump mentions cutting an expense and investing it.

It seems to me that one ought to be concerned about increasing income and decreasing expenses. I would integrate the two by saying this. While one ought to seek additional income, that income ought to be used to accomplish Ramsay's steps first. (Get an emergency fund and get out of debt.)

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