- It is more important to invest than to save.
- Don't work just for the sake of making money. Pay attention to how to make your money work for you.
- Convert your active income into passive income. Passive income is earnings from your own assets.
- Rather than saying, "I can't afford it," ask, "How can I afford it?"
- Never make a credit-card purchase. You can't afford it if you can't pay for it in cash.
- Keep an emergency fund of at least 5% of your gross income on hand at all times.
- Pay yourself first; you are entitled to 10% of your earnings.
- Recognize the difference between good and bad debt. Good debt puts money in your pocket, while bad debt takes money out of your pocket.
- A financial asset that puts money in your pocket is referred to as an asset. Your bank account is depleted as a result of a liability. Put your money into assets.
- Make improving your financial literacy a priority. 9 out of 10 times, financial literacy is learned on one's own. It is not taught in school.