pithy insights on money management and wealth-building (part 1)
As I read the top books on personal finance management and investing, I noticed some patterns emerging over time. When internalized, these recurring themes can be an indispensable guide for any individual on their quest to become rich and wealthy.
In this two-part essay, I have gathered all the important takeaways and listed them for your reference. I’m sure your money game will elevate and reach a new higher level quickly if you put the following principles into practice. Let’s dive into them.
- The more you give, the more you’ll get.
- Pay yourself first.
- Invest in yourself. Formal education is not enough, to become a millionaire you need to become a lifelong learner.
- Don’t work hard for money, let money work hard for you.
- Avoid instant gratification and focus on long-term wins. Don’t give in to fear, greed, and other negative emotions, and invest consistently.
- Paying off your credit card debt and other loans first is the best investment you can make for your future.
- Automation will make personal finances management easier and effortless.
- Start investing early so that both time and the magic of compound interest are on your side.
- Develop a loving relationship with your money.
- Strive to become an entrepreneur, not an employee if you want to become wealthy.
- Getting rich is a slow and steady process.
- Diversify your investments across different asset classes, countries, and currencies.
- Take calculated risks and always protect your downside.
If you enjoyed these insights, do check out my new course Personal Finance 101 here:
- Betterthrive Academy: https://betterthriveacademy.teachable.com/p/personal-finance-101
- Skillshare: https://skl.sh/38P12fx [Get Skillshare Premium free for 1 month].
In this course, I discuss life-changing ideas from the best resources on finances, money management, and investing into simple and digestible lessons.
In these lessons, you’ll learn how to:
- Grow and preserve your personal wealth.
- Eliminate debt once and for all and become financially fit.
- Master the core principles of money management.
- Develop a positive money mindset and incorporate attitudes of rich and prosperous people.
- Implement ancient wisdom as well as modern tools and techniques to solve all your financial problems.
In addition, you’ll get access to some exercises and writing prompts in the accompanying PDF worksheets as well.
I’m sure this course will be an awesome learning experience for you. I hope to see you inside soon.