It is not money that makes you unhappy.
It is chasing money as makes you unhappy.
2. It is (mostly) more profitable to rent than to buy
Buying is mostly an emotional decision, stemming from a worldview that ownership means success.
Buy, when you have excess.
Rent, when you are on a budget.
3. You play safe with your money, if you do not know how to make it again.
Until you do not understand a way of making more money from money, you will always hold on to the money you have.
4. Spending money for your well being is an investment.
Buying a comfortable chair to WFH, is an investment, not an expense.
Eating healthy, is an investment.
A good pair of shoes, a good mattress, a good pillow - are investments.
Therapy is an investment.
Don't be cheap here!
5. Your partner will influence your money, more than your knowledge.
Who you spend your life with, their worldview, their approach towards money, their risk profile - all have a far bigger influence on how you treat your money, than your own knowledge.
6. No one wants to get rich slowly.
The surest way of getting rich is to be patient with it.
- Build multiple streams of income
- Keep expenses low
- Do not take loans to buy things that make you look rich
- Invest every month, whether up or down
It is boring!
7. Money's job is to set you free, not make you rich!
Money gives you choices, it gives you options, it gives you freedom.
At the best end of the spectrum, it gives you your time.
That is when money has truly worked for you.
8. Rich does not mean wealthy
You are rich when your active income is a lot.
You are wealthy when your passive income equals or exceeds living expenses.
9. Money will not change you. It will reveal you.
If you are an inherently kind person, money will make you kinder.
If you are an inherently charitable person, money will make you more charitable.
If you are an inherently proud person, money will make you prouder.
10. You (most likely) do not know how much money you are chasing. Hence you will keep chasing forever!
Do you know how much money is that, for you?
11. We all have 2 lives when it comes to money
- Get to the amount you need to live life and do all the things you want to do and need to do.
- Make more money
1 is mandatory.
Will take time.
If you try to find shortcuts, you won't get past it.
2 is optional & a LOT of fun!
Money is a good servant, but a bad master.
- Francis Bacon
Some references that might help:
1. Buy or rent a house?
youtu.be/cpw4Cg3Gpx8
2. Regular income from your investments
youtu.be/oNcs95JtUUM
3. How much money do you need in life?
https://youtu.be/13nhoS_XYfg
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