How to Properly Manage Your Money Like the Rich | Tom Ferry

Step 1. Know where your money is going. Step 2. Cut out things that don't add value to your life. Step 3. Consider cheaper options to replace the things you like. Step 4. Sell things you no longer have use for. Step 5. Consider things to bring in more income. Step 6. Do without, you don't need EVERYTHING you come across. Step 7. Realize that even if you can't have something at that time doesn't mean you can never have it. Step 8. Forget the social norms. Don't spend your money just to keep up with trends. Step 9. Ask yourself if what your spending your money on really matters to you or is supporting your goals. Step 10. Stick to your budget. Have a savings account. I'm 22 years old and that's the things I've realized about my money and its a journey. Hope that helps someone.

To anyone reading this, remember Rome wasn't built in a day. your hard work will pay off

These are very valuable rules for anybody who wants to get rich. Unfortunately, most people who will watch this video will not really be able to apply the principles. We may not want to admit, but as Warren Buffett once said, investing is like any other profession-- it requires a certain level of expertise. No surprise that some people are losing a lot of money in the bear market, while others are making hundreds of thousands in profit. I just don't know how they do it. I have about $89k now to put in the market.

If I've learned anything over the past 2 years, it's that life isn't just about money, but money is an important part of life. It impacts every aspect of our lives, from where we live, to deciding to start a family, to retirement. When I got my first paycheck, I knew I had to invest. I didn't think a few hundred dollars a month would add up. But it is. From 2020 to date, I have made around $600,000.

Best Rule for Spending: "If you can't buy it Twice, you can't afford it"

Building wealth involves developing good habits like regularly putting money away in intervals for solid investments. Financial management is a crucial topic that most tend to shy away from, and ends up haunting them in the near future. Putting our time and effort in activities and investments that will yield a profitable return in the future is what we should be aiming for. Success depends on the actions or steps you take to achieve it. "You're not going to remember those expensive shoes you bought ten years ago, but you will remember every single morning when you look at your bank account that extra 0 in there. I promise, that's going to be way more fun to look at everyday", I pray that anyone who reads this will be successful in life

One thought is to buy the dip and then wait to break even, another thought is: Will buying low during a recession work if I'm retiring in the next 3years, I'm no way near prepared for retirement and I just need strategies to scale up to atleast 2million by the time I'm set to retire

Never stop dreaming. Be hungry and never stop believing in your dreams. If someone can do it, you can do it. Be strong

I'll save you 20 minutes 50% Home 25% Savings 25% Invest

Rich vs. Poor The most important difference is. Rich: Invest Poor: Consume New York City currently has apartments worth millions of dollars. No one can live in them, except the rich. But even they don't live in them. So, you wanna know why they purchase them? Because they expect the values of those houses to increase within a couple of years when they sell them. While your iPhone, iPad, Samsung Galaxy S9 or whatever will for sure lose its value within the next couple of years, if you want to sell it.

I've just retired recently and I must say I found this video informative and great to review. These psychological concepts are much more useful for individuals attempting to avoid mistakes than I realized when I was first introduced to them. This is probably why Warren Buffett talks so much about temperament being crucial to his investing success.

I think I'm blessed because if not I wouldn't have met someone who is as spectacular as expert Mrs Lucy Mary Liam

Hey bro like you said. I opened a company . Now Kindly upload next video how to file bankruptcy

How to become rich ? By Teaching others how to become rich

If you want to be rich, have the mindset of the rich, spend less and invest more, when you invest you are buying a day you don't have to work. I pray we all achieve our dreams.

1. Spend less than what you earn 2. Invest into assets which generate income

#1 Rule for having enough money. Don't create more monthly debt than your monthly income. No matter what your income class is, live within your means, refrain from being sucked in to the materialism whirl pool. Be an individualist, not a weak follower and you will be happier and have much less stress in life.

I’ve been with VladimirCorp for more than five years and it’s one of the best decisions I’ve made in terms of investing. I use my self-directed IRA with Preferred Trust Company. I work with my Investment Representative from Ignite Funding who is very professional and knowledgeable as well as the other employees in other departments. I get answers to my questions right away. I have more than 20 loans at the moment and interests are paid in a timely manner. I’m grateful to have them.

Successful people don't become that way overnight. most people see at a glance-wealth, a great career, purpose-is the result of hard work and hustle over time. I pray that anyone who reads this will be successful in life.