Personal Finances

Five Tiny (but IMPORTANT!) Things I Wish I Knew About MONEY

These 5 steps are followed fanatically by rich people – they allowed them, firstly, to become rich and, secondly, to maintain the wealth they created.

The second is often much more difficult than the first.

These 5 steps have become the daily habits of wealthy people. They signed up with them, literally, for subcortex. Thanks to which rich people become richer every day – automatically. Without thinking about it, without spending mental effort on it and without using your willpower (discipline).

So here are the Five Tiny (But Important) Things I Wish I Knew About Money:

1) Rich people got rich because they understood “how the system works”

Psychologists say that our subconscious is so powerful that we spend almost 40% of our waking hours “on autopilot.”

Our actions are guided by our habits, which we obey “without thinking about it.”

We breathe, walk, cross the road, navigate the terrain, etc. Incl. We get richer by increasing our financial well-being.

When it comes to money, rich people have “good” financial habits, while poor people have “bad” ones. Therefore, we should conduct an “audit” of what we usually do with our money. In order to get rid of bad habits and increase the number of good ones for our wallet.

2) Spend less than you earn

This rule is also known in the following formulation: “First pay yourself 10% of each income received.”

3) Invest 10-20% of your income every month

This rule specifies the previous one – what exactly we should do with the money that we “didn’t eat.”

We must make them work “instead of ourselves” through regular investments.

4) Portfolio approach to investing

The buzzword “Diversify your assets” applies here.

Simply put – Spread your money across different currencies and assets/instruments.

5) Don’t react to “news noise”

There is too much everyday noise in the area of money that distracts us from the first 4 habits.

Leading us astray. Forcing you to make rash financial decisions.

Alas, the human brain remains a mystery to us. Therefore, our behavior is often illogical, irrational and detrimental to our financial well-being.

But by adhering to these 5 rules, we will be able to instruct ourselves “on the true path” in time.

By CashGuy

Online Money Maker

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