Live below your means.
Learn how to be lucky.
Never take on debt.
Lesson 1: Live below your means.
What is it that makes rich people rich from scratch?
You are talking about the hard working habit for a few decades
You then can walk out the door of your job and never return again
Because You can live off the wealth you have accumulated.
Wealthy people develop their riches mostly based on 2 things:
* Living slightly below their means.
* Investing the money they save well.
The goal of our Western economy and education system is for
You to take on a 40-hour day job and then spend everything you earn.
Instead, the Richest Man In Babylon suggests you save 10% (or more) of your income to invest.
Look at your expenses and cut the ones that are really unnecessary.
2: Learn how to be lucky by working hard.
No one ever said luck was something that can’t be manufactured.
Luck is based on opportunity and you can create more opportunities by working hard.
Consider Jerry Weintraub’s story.
This man called Elvis’s manager every day for a year to pitch him a tour he wanted to take Elvis on.
364 times, the man said ‘No’. But eventually, on the 365th day, he said yes.
Jerry didn’t get lucky.
He worked. Every day he called until the timing was right and the opportunity presented itself to him.
That’s how you become lucky.
3: Never take on debt.
You know most we all have some kinds of debt in credit card, or a personal loan, car loan etc.
One of the first steps to build wealth is quitting the irrational self-talk that
Makes you justify purchases you can’t afford.
When you can’t afford a fancy new car or a flashy TV, well, save money instead of taking a loan.
When you go out and get a loan to finance it, you’ll delay your journey to wealth.
Because you now have to spend the money you save each month to pay off the debt.
Instead, figure out ways to make more money or save more money.
Taking on debt has never solved any problems, it just creates more.
Hope these tips hope you success even more long term 🙂