Anyone who has an income need to know how to spend their money in a smart way. The most important thing is how make a priority of the need. It can be primary or secondery need. So it also relates to
time frame when the goods should be bought.
A smart person, when decide to buy something for instance a car, will consider whether he or she has an asset to pay the operational and maintanance. If he or she works in an company, the car will be considered to be
under salary budget allocation. But the best thing is when she or he have a asset that can pay the operational and maintance the car for instance the rental house or rental car.
The rich people will never loose the money to pay the liability. Their liabilty will be paid from the asset cash flow. So building asset step by step until finally it can guarantee budgeting your life.
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