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borrowed future: summary and key takeaways
the power of social influence on money habits
“The wealthy are often careful about the social influences they allow in their lives.”
– Thomas J. Stanley, The Millionaire Next Door
Human behavior is profoundly shaped by the social environment. We pick up habits, both good and bad, from those around us: parents, teachers, family, friends, co-workers, neighbors, mentors, celebrities,
the 10% entertainment rule: saving for a better future
Many people dream of having enough money to live comfortably, both now and in the future. But achieving this dream can be challenging if we're not careful with how we spend our money today. One key to financial success is following the 10% entertainment rule.
This rule suggests