Welcome! Let's Talk How To Win with Money
Rule #1 Keep Your Eyes On You Own Paper (Mind Your Own Money)
Rule #2 Expect Problems & Have Them For Breakfast (Prepare for Emergencies)
Rule #3 Every Dollar Must Have A Job (Budgets Suck, But So's Being Broke)
Rule #4 Spend Less Than You Earn (Debt Could Be The Death of You)
Rule #5 Use Credit Wisely (Credit - Getting It & Maintaining It)
Rule #6 Let Your Money Work for You or You'll Always Be Working For Money (Investing)
Closing - Keep Learning and Keep Earning
Lesson #6.1 Investing Isn’t Just For Rich People (0:30 mins)
Think investing is just for rich people, well think again
Meet Theodore Johnson.
He worked for UPS and never made more than $14,000 a year and yet, in his old age, was worth more than $70 million. Even though he didn’t make a lot of money, he took 20 percent of his money and put it straight into an investment account. Years later, that compounded to make him $70 million.1
He did it by consistently saving 20% of his salary every year and allowing it to compound by investing.
How much you make matters. but not as much as how much of it you actually keep.
This is what folks mean by paying yourself first.
1 Source: Retiree Donates Fortune to Education – The New York Times (nytimes.com)