money
understanding money
> “Money is like a beautiful thoroughbred horse-—very powerful and always in
action. But unless this horse is trained when very young, it will be an
out-of-control and dangerous animal when it grows to maturity.” — Dave Ramsey
Chasing wealth just for the sake of becoming wealthy is an empty
the secret to becoming wealthy (part 2)
the “peace of mind” fund
An emergency fund is simply money you’ve set aside for life’s unexpected events.
Sometimes it is also referred to as a rainy-day fund. However, a good alternate
name (and the positive of all!) for this fund which I personally love is the
“Peace of Mind” fund. You sleep
get lucky by working hard
don’t trust a novice with your hard-earned money
> “Advice is one thing that is freely given away, but watch that you take only
what is worth having. He who takes advice about his savings from one who is
inexperienced in such matters, shall pay with his savings for proving the
falsity of their opinions.”
— George S. Clason,
save 10% of your income
No matter how little you currently have saved or how small your paychecks are,
you must cultivate a discipline to regularly set aside at least 10% of your
income and invest it, so it will grow and bring you prosperity for years to
come.
I personally follow Dave Ramsey’s
live below your means
> “To live beyond your means today is to live below them tomorrow.”
— Hans F. Sennholz
Taking a day job where you work for 35-40 hours per week and then spending
everything you earn is never a good strategy. Of course, you don’t have to stop
drinking the occasional
developing a loving relationship with money
“Any relationship worth having is worth deepening by taking regular, loving
actions.” ― Kate Northrup, Money: A Love Story
Managing your money can be a fun and loving process if you choose it to be. In
order to get financial freedom, we need to change our relationship with money.
Make handling
making money management a top priority
In order to get financial freedom, we need to make money management a top
priority in our lives. When you take care of your finances, you take care of
yourself. And hence, it’s an act of self-care. You are in a better place when
you are in control of