You’ve probably heard the saying that “cash is king,” and that truth applies whether you own a business or not. Most discussions of business and personal “financial planning” involve tomorrow’s goals, but those goals may not be realized without attention to cash flow, today.

Financial generalizations are as old as time. Some have been around for decades, while others have only recently joined their ranks. Let’s examine a few.

Budgeting, healthy spending habits, long-term savings goals — these are all skills adult children should understand and practice on their own.

Much has been made of the current state of the American worker as it pertains to their retirement savings. According to a recent study by the General Accountability Office, 29% of Americans 55 and older do not have any retirement savings or pension plan and those who have saved are woefully behind with 55-64 year olds averaging $104,000 in retirement assets.1

As you reduce your liabilities, embrace the behaviors that may improve your balance sheet.