Read on Twitter
The 6 basic financial rules that will help GET YOU RICH.
//THREAD//
//THREAD//
1: Save a 6+ months emergency fund
If you don& #39;t have an emergency fund, then you& #39;re living at *extreme risk*.
You don& #39;t need to do this overnight. Start small, build over time.
Your future self will thank you.
If you don& #39;t have an emergency fund, then you& #39;re living at *extreme risk*.
You don& #39;t need to do this overnight. Start small, build over time.
Your future self will thank you.
2: Invest 20% of income in long-term investments
If you spend the majority of your salary, then guess what?
⇢ You& #39;re "fake rich".
Alone, salaries don& #39;t build wealth. Neither does saving.
Investments build wealth.
If you spend the majority of your salary, then guess what?
⇢ You& #39;re "fake rich".
Alone, salaries don& #39;t build wealth. Neither does saving.
Investments build wealth.
3: ZERO credit card debt
Your credit card is a convenience, not a way to spend money that you don& #39;t have.
Credit card debt is:
✓ addicting
✓ high interest
✓ tough to eliminate
And, it KILLS your ability to build wealth.
Your credit card is a convenience, not a way to spend money that you don& #39;t have.
Credit card debt is:
✓ addicting
✓ high interest
✓ tough to eliminate
And, it KILLS your ability to build wealth.
4: Drive cars until they die
I don& #39;t mean this literally. But, driving your cars until they are impractical or unsafe is a GREAT way to save thousands on cars.
Buy quality. Maintain the hell out of it.
Then, drive it until you can& #39;t.
Boom.
I don& #39;t mean this literally. But, driving your cars until they are impractical or unsafe is a GREAT way to save thousands on cars.
Buy quality. Maintain the hell out of it.
Then, drive it until you can& #39;t.
Boom.
