18 Timeless Lessons from the Book The Psychology of Money: • No One’s Crazy

People's money decisions are justified by taking the information they have at the moment and plugging it into their unique mental model of how the world works.

Origins and upbringing shape money decisions.

We do crazy things with money. But no one is crazy.

15 Incredible Lessons from the book Eat That Frog: 🐸 Embrace the Frog

Start each day by tackling your most challenging task first.

This "frog" is the one that will have the most significant impact on your life.

Completing it will give you a sense of accomplishment, momentum, and set the tone for a productive day ahead.

You are the person who will change your family tree and create financial freedom.

By prioritizing the following for the next 6 months, your family will be transformed for generations to come: • Avoid lifestyle creep

With social media, everyone wants to appear wealthy.

The reality is that many people are deeply in debt.

Concentrate on the important things, live within your means, and invest your money.

Possessions are less important than financial freedom.

Rich parents raise rich children.

Here are some of the lessons that broke parents never teach their children that rich parents do: • Assets vs Liabilities

Poor individuals often fail to recognize that liabilities can deplete their finances without generating any income.

Wealthy people invest in assets that produce income, understanding that all paths to wealth pass through assets.

ChatGPT is now compatible with Excel and Google Sheets.

Enhance your productivity without needing to memorize formulas.

Here's how it works : • Numerous AI allows you to create ChatGPT prompts in Microsoft Excel and Google Sheets.

It's an AI add-on and you can check it out at

Here's how it works: Numerous.ai

Habits are the compound interest of personal development and growth.

Here are 12 habits of highly successful people to develop if you want to change your life's trajectory: • Read a Lot

Your brain is a muscle; use it or lose it. Reading has the advantage of stimulating your brain.

Because successful people see books as a gateway to knowledge, they read books that are going to help them grow their minds and improve their lives.

By the age of 30, you have to understand these financial rules if you want to be in control of your finances: • Rule of 72

It calculates the number of years it takes your money to double, given a rate of return.

You just need to divide 72 by the rate of return.

If your investment returns 8%, it will take 9 years for your money to double (72/8 = 9).

In less than 10 years, I grew my investment portfolio from $15,000 to more than $500,000.

If you earn income, below are the simple steps that I took to build wealth: • Buy assets

There is no wealth creation without asset ownership.

I make it a habit of buying index funds, which are collections of stocks.

Advantages:

- Diversification
- Great performance
- Low cost

Here is a great list :

- $VTI
- $VOO
- $VGT
- $VXUS

If becoming successful is one of your goals, you should read this: • Increase earning potential

Successful people don't focus on cutting off expenses. Increasing income is the key to their success.

Saving $100 is fine, but making and investing $1,000 is better.

Assets offer more potential for wealth creation.

Invest 3 minutes and read the following ideas to become smarter about your money than 99% of people: • Swallow your pride, act broke, and you will build an amazing amount of wealth.

If you want to be financially stable, avoid these financial traps to be 10 years ahead of people your age: • Starting a family without a financial plan

From birth to the age of 17, raising a child costs around $310k, not including pregnancy and college expenses.

It is critical to plan before starting a family because this decision can change the trajectory of your life.

If you don't know how to read and analyze a balance sheet, read this: A balance sheet is a snapshot of a business at a specific point in time. It serves two purposes.

Internally, it provides information about the financial health of a company.

Externally, it depicts the business's resources and how they are financed.

10 lessons that people learn too late in life: • Everything is temporary

We are not on earth eternally. We are just passengers until our time is up.

Your possessions, jobs, and relationships will one day just be a distant memory.

This is why you should live a meaningful life. At some point, you will be gone and forgotten.

Microsoft Excel can make you $10,000 a month.

If you have:

1. A laptop
2. Free time
3. Microsoft Excel skills

Here's how to start a side hustle that'll make you rich: Side hustle: Market research:

With Excel you can do anything.

From Market research to data analysis and more.

But if you don't have market research skills then it will difficult.

Here's how to use AI to do the marketing work in Excel and make money:

If you have money problems and lack financial discipline, read this: • Surround yourself with like-minded individuals

Being around people who are committed to wealth creation can be extremely motivating and beneficial.

Every wealthy person I know has a great circle of friends.

Join networking groups to meet people who share your goals.

I came from nothing, but I will make sure that my family inherit wealth and financial freedom.

Here are 10 Personal financial rules that will ensure that your family tree is changed for generations to come: • Pay Yourself First

Allocate a portion of your income towards savings and investments before anything else.

It's crucial to prioritize your financial future and build a solid foundation. Remember, investing in yourself is the best investment you can make.

Broke parents raise broke children.

Here are some of the lessons that wealthy parents teach their children that poor parents do not: • Assets vs Liabilities

Assets = what you own.

Liabilities = what you owe.

Poor people do not realize that liabilities cost them money and don't generate revenues.

Wealthy people invest in assets that produce more income.

All paths to wealth pass through assets.

I dedicated countless hours and dollars to learning about personal finance.

Here are the most important personal finance lessons that you should understand: • Invest in assets

There is no way to build wealth by simply saving money.

Assets are the way to accumulate wealth and achieve financial independence.

Every wealthy person either owns:

- Stocks
- Businesses
- Real estate
- Or a combination of these assets

Powerful Lessons From the Book Rich Dad, Poor Dad That Will Make Your Finances Better Than 99% of People: • Don't Work for Money

Rich people don't work for money. If you work for money, you start thinking like an employee.

It is crucial to think differently. The rich make money work for them through assets.

Each dollar in their assets is viewed as a hardworking employee.

Your salary is your most powerful wealth-building tool.

You will never achieve financial freedom unless you learn how to use it effectively.

Here is how you can use your job to build wealth: • Be Proactive

You may be excellent at work, but if your efforts go unnoticed, it hinders your growth.

Showcase your skills and competencies to your bosses and co-workers.

Taking on more responsibility to build a positive image in the minds of decision-makers.

I have interviewed hundreds of millionaires.

All of them said that to win the game of life and reach great success, it comes down to the below: • Upgrade your surroundings

You are the average of the five people you spend most of your time with, so choose them carefully.

Stop hanging out with people who impede your growth.

Be around those who want you to become successful.