I will teach you how to manage money and be financially literate. I share insights on finance and wealth. Level up with me. DMs open for business.
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Apr 16 • 19 tweets • 5 min read
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.
Apr 8 • 12 tweets • 3 min read
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.
Apr 2 • 8 tweets • 3 min read
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:
Mar 28 • 13 tweets • 3 min read
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.
Mar 21 • 12 tweets • 2 min read
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.
Mar 20 • 16 tweets • 4 min read
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.
Mar 8 • 12 tweets • 3 min read
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
Mar 6 • 13 tweets • 3 min read
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.
Feb 29 • 13 tweets • 3 min read
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.
Feb 28 • 16 tweets • 3 min read
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.
Feb 27 • 13 tweets • 3 min read
By the age of 40, you should be able to answer the following money questions:
• What is your net worth?
By 30, you need to understand where you stand financially.
This is required for financial success.
Your net worth is a good indicator of your financial health.
It entails knowing your assets and liabilities.
It should ideally be positive.
Feb 22 • 11 tweets • 5 min read
By the age of 30, you must master these financial formulas to be financially better off than 99% of people:
• Cash flow
It shows your savings given your earnings and expenses.
A positive one shows that you live below your means.
A negative shows you spend more than you earn.
• The rule of 72
It calculates how long it will take your money to double at any given rate of return.
For instance, if your investment has a return of 4%, it will take 18 years for your money to double (72/4 = 18).
Feb 7 • 14 tweets • 3 min read
Hard skills get you hired.
Soft skills get you promoted.
Over the next 6 months, prioritize the following soft skills to outperform 99% of your peers:
• Critical-thinking
Think outside the box to stand out and advance both personally and professionally.
This is an opportunity to:
• Get promotions
• Make fast decisions
• Solve problems
It can serve as a catalyst for personal and professional development.
Feb 6 • 11 tweets • 2 min read
The key to building long-term wealth is no longer a secret.
Here are 10 steps for taking charge of your finances:
• Create a Budget
Develop a monthly budget by listing your income and expenses.
This will help you track your spending habits and identify areas where you can cut back.
Regularly review and update your budget to maintain financial control.
Feb 3 • 13 tweets • 3 min read
If you do not know how to manage your finances, but want to improve it,
Here are my top 10 tips for managing your money:
• Budgeting
Start by understanding your income and expenses.
Create a budget and stick to it.
This will help you take control of your finances and avoid overspending.
Feb 2 • 14 tweets • 3 min read
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.
Jan 29 • 15 tweets • 4 min read
I spent years interviewing millionaires.
Here are the habits that made them ultra wealthy:
• Have Multiple Streams of Income
With different streams of income, you have a feeling of security and less financial anxiety.
Even if you lose your job or business, you can still continue to pay your rent and bills.
The average millionaire has 7 streams of income.
Jan 27 • 12 tweets • 3 min read
10 Lessons From The Almanack of Naval Ravikant:
• Wealth
Becoming wealthy is a learnable skill.
Creating wealth is more important than a status symbol.
Money is a tool that you exchange for products and services.
Wealth is created by providing value to society.
Something society needs, but it doesn't know it yet.
Jan 24 • 13 tweets • 3 min read
Being good with money has more to do with how you behave than anything.
Commit to these money habits over the next 3 months to take control of your finances in 2024:
• Pay yourself first
Save/invest money before splurging on wants.
Do the following:
- Set up automatic investments
- Save 10-20% of your income
- Contribute to your retirement funds
- Open a Roth IRA
Investing allows you to pay for your freedom with the money earned today.
Jan 23 • 14 tweets • 3 min read
These 12 mental models will make you smarter than 99% of people:
• Occam's Razor
Simplicity is a virtue. When faced with competing explanations, the one with the fewest assumptions is likely the correct one.
Streamline problem-solving by stripping away unnecessary complexities. Seek elegant solutions that require the fewest steps.
Jan 22 • 13 tweets • 3 min read
10 lessons from the book The Compound Effect:
• Small changes lead to big results
Consistent small actions, when compounded over time, can lead to significant results.
Focus on making incremental improvements in various areas of your life.
Don't neglect the impact of consistent, daily habits on your overall success.