Post by account_disabled on Nov 29, 2023 15:52:25 GMT 5.5
They pay themselves first. They buy assets and then liabilities, in this order I can't do it! It's not for me. They blame others for their failures and frustrations They pay themselves last (when they pay) They buy liabilities and rely on a single source of income They think they already know everything they need to know One thing you and I and the world's greatest millionaires have in common is: we all have only 24 hours in our day. While the rich are using their free time to study, work on personal projects and improve themselves every day, the poor are just killing time.
To give you an idea of how important it is to continue investing in yourself, I like to use the Phone Number List example of Warren Buffet , one of the 10 richest men in the world. Buffet is an 87-year-old man, a personal friend of Bill Gates, and who has a curious habit: Every day, he reads 500 pages of newspapers in the morning. This is how it follows the market and decides which companies to invest in in the future. And how are you using your time? Shaping habits to enrich you Do you remember the example of your gluttonous friend who wanted to lose weight by eating only fast food all week? What I want to tell you is getting rich, as well as losing weight, is a matter of habits. There is a formula for losing weight (which your friend seems to have misunderstood): diet (the right way) and exercise.
If you do those 2 things every day, you will surely lose weight. There is also a formula to get rich: Increase your assets and control your liabilities. And how to do that in practice? Come with me as we are now going to enter the world of personal finance. Traditional (and erroneous) way people plan their finances: If I wanted to predict, I would say that 99% of people make this mistake when dealing with their own money: receive the salary Pay the bills Spend like there's no tomorrow At the end of the month, if there is anything left over, then save, spoiler alert: there is never left over. Why will this way of planning your finances never make you rich? Because you're paying others first! Your salary is going to the owner of the bar, the owner of the clothing store, to the operator of your credit card.
To give you an idea of how important it is to continue investing in yourself, I like to use the Phone Number List example of Warren Buffet , one of the 10 richest men in the world. Buffet is an 87-year-old man, a personal friend of Bill Gates, and who has a curious habit: Every day, he reads 500 pages of newspapers in the morning. This is how it follows the market and decides which companies to invest in in the future. And how are you using your time? Shaping habits to enrich you Do you remember the example of your gluttonous friend who wanted to lose weight by eating only fast food all week? What I want to tell you is getting rich, as well as losing weight, is a matter of habits. There is a formula for losing weight (which your friend seems to have misunderstood): diet (the right way) and exercise.
If you do those 2 things every day, you will surely lose weight. There is also a formula to get rich: Increase your assets and control your liabilities. And how to do that in practice? Come with me as we are now going to enter the world of personal finance. Traditional (and erroneous) way people plan their finances: If I wanted to predict, I would say that 99% of people make this mistake when dealing with their own money: receive the salary Pay the bills Spend like there's no tomorrow At the end of the month, if there is anything left over, then save, spoiler alert: there is never left over. Why will this way of planning your finances never make you rich? Because you're paying others first! Your salary is going to the owner of the bar, the owner of the clothing store, to the operator of your credit card.