10 Hacks for a Wealth Mindset.

 

 

 

 

 

 

1) It is not about being rich, but about money buying you options so that you can live life on your terms.

2) Don't think of debt as merely a negative balance or money owed, but rather as "mortgaged time" - the one resource you have less of every day.

3) An emergency fund is a "Freedom fund" because it keeps you out of temporary poverty - and debt - when bad things happen.

4) A home mortgage is not always the right choice - but when you have one, think of it as NOT paying down a landlord's mortgage, but instead your own.

5) Paying off debt or investing, increases your net worth and frees up time.

Paying off debt = Freeing up time now.
Investing= Freeing up time later.

6) Don't think of just "expenses" - Split them into One-time versus recurrent expenses. Recurrent expenses are what get you.

7) Not paying the interest in full on a debt, works like compounding - but it does so in reverse gear, growing the debt.

8) Having wealth is being rich in a sustained way, by not relying on earned income.

9) Never think of how much you make - Think of how much you keep.

10) When you consider personal finance - Think of it as an ongoing game in life, that has players, rules, and tactics. You can ignore it at your peril, or you can decide to become a great player.
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