Reply: 2.1.1.1.1.1.1.2.2
From: Dale Gatherum-Goss
Hi Terry
Congratulations on helping your son. To me, this skill in managing money is one of the biggest gifts that we can give our children and I applaud you for your success!
I also understand what you mean and agree with you wholeheartedly when you talk about the larger the income the larger the problem.
RK's "Cashlow" game is testament to this fact.
I had one client about two years ago now, who was renting a house, flat broke and who won a contract with Ansett of all places that paid him $5,000 per day. Yes, per day!!!
Before he started, he met with me to establish financial plans, budgets and goals because his spouse desperately wanted a home of her own . . . .
Six months later he rang me wanting an after hours appointment because he had gone further into debt, still had no money and was not going to be able to buy a house.
His lifestyle absorbed all of that money and then some.
It's a pity. But, I see this regularly.
Have fun and once again congrats on your successes.
Dale