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Master this one, and the others will become easier
Stay under your income. When you stay within your income and live within your means, you create a consistent excess of financial resources that will create opportunities and flexibility for you to grow wealth at an expedited rate.
Unless you’re playing the real estate game prudently, you will never build wealth if you spend more than you earn. Using other people’s money to make money is an entirely different game that most people never play. If you want to learn how to play that game, check out the book, “Rich Dad, Poor Dad” by Robert T Kiyosaki.
The 10 Financial Basics
Stay under your income.
Consistently increase your income.
Diversify your income.
Invest 10% of your income.
Establish a 3–12 month emergency fund.
Avoid credit card debt.
Don’t buy more cars than you should.
Don’t buy more houses than you should.
Avoid student loans.
Continuous Education
Read the full article here that explains in more detail what to do and how to implement each of the ten financial basics:
This content is for informational purposes only — not professional advice. Consult a qualified professional before making any major decisions.