The best Personal Finance book I've ever read?
The Millionaire Next Door.
Here are 7 critical lessons you should know:
The Millionaire Next Door.
Here are 7 critical lessons you should know:
1️⃣ Live below your means
Spend less than you earn.
Save and invest the difference.
Spend less than you earn.
Save and invest the difference.
2️⃣ Invest a significant portion of your income
Invest at least 10% of your income in stocks every single month.
When you invest periodically, you also don't have to worry about market timing.
Invest at least 10% of your income in stocks every single month.
When you invest periodically, you also don't have to worry about market timing.
3️⃣ Have a long-term plan
In the land of the blind, the one-eyed man is king.
Set clear financial goals and develop a plan to achieve them.
In the land of the blind, the one-eyed man is king.
Set clear financial goals and develop a plan to achieve them.
4️⃣ Create passive income
If you aren't making money while you sleep, you'll work until you die.
Here are a few ideas to create passive income:
- Invest in stocks
- Sell a course
- Rent out a parking space
- Start a Youtube channel
If you aren't making money while you sleep, you'll work until you die.
Here are a few ideas to create passive income:
- Invest in stocks
- Sell a course
- Rent out a parking space
- Start a Youtube channel
5️⃣ Be frugal
Always avoid unnecessary expenses.
Investing is all about delayed gratification.
Always avoid unnecessary expenses.
Investing is all about delayed gratification.
6️⃣ Avoid debt
Debt can be very dangerous.
If you're smart you don't need it and if you aren't smart you shouldn't use it.
Buying a house is the only justified event to use debt.
Debt can be very dangerous.
If you're smart you don't need it and if you aren't smart you shouldn't use it.
Buying a house is the only justified event to use debt.
7️⃣ Invest in yourself
Always keep learning and improve yourself.
Reading as much as you possibly can is the best way to do this.
Always keep learning and improve yourself.
Reading as much as you possibly can is the best way to do this.
That's it for today.
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Are you looking for reading inspiration? You'll love my e-book with teaches you how to invest in stocks.
It will be published on Amazon soon, but today you can grab it for free.
Sign up here: eepurl.com
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