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Brian,

I like the article, and have found the power of a cash reserve to be very powerful. In fact I used to have the fear that having cash would cause me to spend cash (impulse buying). Instead I think that having cash, has created the desire to build up more and makes me more conservative in large purchases.

Comment #4 really hit home. When I was about 3 years out of school, my employer had layoffs. I saw a lot of people very nervous about what they would do if they lost their job – including myself.

I vowed never to let that happen to me again, and have since built up a significant unlevered reserve. I keep it in an online stock account, and do my best to make money with it. As you note, the peace of having that reserve is very powerful.

later.

Good post, I agree that the cash reserve gives you a cushion which allows you to seize opportunity when it arises. I think the key is to leave yourself options, so that you can be flexible and not dependent on just one income source. Also, being a person of action is very key. Thanks again, I enjoy the blog.

As I am an accountant I can state with absolute certainty the nformation in your post is faultless. (Yes I know that Kiyosaki place most of the accountants in the poor dad bracket, but not all)
Removing that false safety net of a credit card is a beginning that cannot be emphasised enough.
You truly deserve your domain name. Love the read!

I liked the article Brian. I also remember reading Roberts books but never got cashflow 101. I have heard him speak of it, but should actually try to get it and play it. I agree a cash reserve really helps you out. I have money withdrawn each paycheck automatically through direct deposit. I have found this the easiest way to build a cash reserve if I don’t even have the opportunity to spend it. In regard to credit cards I pay them off each month but use one card for all my purchases and use the points for vacations etc. I agree if people don’t budget with a credit card it is better not to have one. If you are already in credit card debt it is good to transfer this to a low interest credit card for the life of the balance transfer. Just don’t ever use the card again and always pay on time and they are like a low interest loan to get the debt paid off at a low interest rate.
You can find deals like this and other 0% APR offers at http://www.creditcardradio.com.
Thanks for the article.