There’s a lot of advice out there about money… It involves psychology, emotions, management, maths, economics, context and so on.
It’s easy to get lost…
Here are my 11 rules with money to build wealth:
- Always have between 6 and 12 months’ cash in reserve, just in case…
- Invest 20% and save 10% of my income. If it’s complicated: reduce my standard of living or increase my income (it’s mathematical).
- If I can’t pay cash for it, I don’t buy it (I’m not talking about investing and raising money from banks).
- Precisely: use other people’s money, especially the banks’, when it comes to long-term investments.
- Never hesitate when it comes to investing in knowledge, training, books, advice and your health…
- Don’t play cheap on what’s important to me, be cheap on what’s not important.
- Never seek status or prove anything to others: they don’t care!
- Have enough money not to depend on others, and work with people I respect and who respect me (not owing anything to anyone).
- Never be cheap on experiences and memories.
- Dare to be comfortable and travel first-class when it comes to professional travel.
- Prioritize time and freedom over money, making money a means to an end…