See the video and full post here: http://the7minutemillionaire.com/cash-flow-king/ 

Summary:

Ask any millionaire and they’ll tell you: Cash flow is King. Establishing a positive cash flow each and every month is critical to attaining security and financial freedom, so make this your mantra. Is your current income enough? If it’s not, what are you going to do about it? Two essential elements are required to begin creating a positive cash flow: limiting your expenditures and the creation additional income streams. First, start with getting your expenses under control. Find out where your money is going each week and month, and then start looking for ways to cut your expenses. It’s about getting real with your money and putting your financial house in order. It may seem difficult at first, but once you start to see the positive effect this has on your cash flow each and every month, you will be inspired to look for even more ways to cut your expenses. It’s really just about starting somewhere, right now. To get control of your expenses and begin to optimize your cash flow, it is crucial that you pay off the balance of your credit cards each and every month, so that you’re not running a balance. Don’t allow yourself to become a slave to interest payments. As you are cutting expenses and begin to see an increase in your cash flow, you’ll want to build an emergency fund; a minimum of 6 months worth of income or expenses set aside. The second element of building a positive cash flow is the creation of additional income streams, and there are many potential ways you can do this, starting today. Ask yourself how you can use your talents to either find a second job or perhaps start a business. Start generating ideas. It may be necessary to acquire further skills, so make this a part of your plan. As your cash flow increases, be sure that you are not spending it. Just because you have the extra income doesn’t mean that you should spend it. Instead, start finding ways to use this money and put it to work for you through solid foundational investments that can provide you with passive streams of income. As you are able to build various streams of income over time, your will be on your way to building your underlying net worth, which is the bedrock foundation of your financial security and freedom. It all starts with these essential first steps, and builds over time. Start creating your positive cash flow today so you can build your net worth over time and be well on your way to living a rich life in the next five to seven years.