It’s easy to fall into the trap of spending too much or earning not enough… Here are tips from thecodetoriches.com on how to avoid being a financial nitwit!
by Paul Andrews
1. START OWNING
Ownership of a business is the closest thing that exists to a “sure-fire” way to becoming wealthy. If you want to be rich, start buying/owning assets that make you money!
2 USE YOUR YOUTH
The younger you are, the more risks you should be taking. We’re not talking, “Jump off the bridge into a pile of sharks” risks, but financial risks. You have literally decades to recover if it goes wrong, and decades to enjoy if it goes right!
3. THE ONLY EQUATION THAT MATTERS
The only math you really need to understand is the
following:
Earnings – Expenses = Income.
Your job is to keep the Earnings high, while the Expenses are low, so you can maximize Income!
4 BUDGET LIKE A BAD-ASS
Budgeting doesn’t have to be “rocket-science” complicated, but your money needs to be tracked. Otherwise, it’ll wander away like a 4 year-old at Disney World.
5. FIGHT FOR THE LOWEST PRICE
A quick Google search can save you a ton of money and even more, “Buyer’s Remorse.” Plus, you’ll be able to brag to your friends about what a sweet deal you got.
6. START YESTERDAY
There will never be a perfect time to start a business, start investing, or sit down and make a budget. The best time was yesterday, the worst time is tomorrow.
7. DON’T FORGET MONEY’S PURPOSE
The almighty dollar does not follow you to the grave. It will not keep you warm at night, take its first steps, speak its first word, get into college, fall in love, etc. Earn a lot, keep as much as you can, and spend as necessary to keep you and loved ones happy…
… But no yachts when you’re 25 years old.
