- Read Rich Dad Poor Dad by Robert Kiyosaki and The Richest man in Babylon by George S. Clason
- Get rid of all BAD debt, but learn how to leverage good debt to your advantage
- Learn how to invest your money(let money work for you) and build generational wealth
- Start a side-line hustle or turn your hobby into a profitable business and create multiple streams of income(it is not only silly but dangerous to rely on one income)
- Create a viable financial plan(with clear goals) for you, your family’s future.
SIMPLE FINANCIAL RULES TO LIVE BY
- Never buy depreciating assets(liabilities thinking that they are assets) on credit
- The best time to invest your money is NOW
- Never invest your money with emotions
- Don’t risk your name or your money to get rich quick
- Build wealth with sure results
- Acquire assets, not liabilities
- Keep track of all your expenses
- Always remember rules 1-7.
HOW TO BE SMART WITH YOUR MONEY
- Commit to learning about money daily and apply the knowledge acquired – keep a journal to record lessons learnt
- Keep your expenses in check
- Pay yourself first
- Have a single simple investing strategy that you can live by in the long run, no matter what the economic conditions dictate externally
- Don’t waste your money trying to look cool, it is unwise
- Control your fear, greed, and impatience
“Do not save what is left after spending, but spend what is left after saving” – Warren Buffet
FUNNY MONEY MANTRAS BY SHAINA LEIS
- I am very rich
- People love to give me money
- Money always finds its way to me
- I feel like million bucks
- There’s plenty where that came from
- I naturally attract good fortunes