Saturday, July 23

Get Rich Slowly!

I've just about had it with books with really silly (and boring) titles like The 7 Highly Effective People (You Meet in Heaven) Who Moved Daddy's Cheese. These all somewhat agree on how financial independence is achieved. Foldedspace says that "financial independence occurs when your investment income meets or exceeds your monthly expenses. Financial independence is linked to psychological freedom." What I don't get though is why we need many books like these when you can say it in like 200 words or less.

So here it is. Foldedspace spills the beans on how to get rich slowly. Boingboing even offers a much snarkier summary:
Mantra #1: "If it's on your ass, it's not an asset." If you can wear it, it's not an investment. Also, something is riding your ass (such as a high house payment), it's not an asset.

Mantra #2: "Is this a need or a want?" This is a question Kris has been trying to get me to ask myself for years.

Mantra #3: "Sweat the small stuff." Do worry about the small expenses; they add up.

Mantra #4: "Cash is better than credit." There is almost no reason to carry a credit card.

Mantra #5: "Keep it simple." With money, avoid anything that seems complicated. If you don't understand it, avoid it. You'll probably lose money.

Mantra #6: "Priorities lead to prosperity." Determine what's important to you, and pursue that with your time and money.

Mantra #7: "Enough is enough." Don't overconsume. Recognize when you have fulfilled your needs and your wants.

2 comments:

successcmc said...

We Sincerely Desire Your Financial Independence and Will Do All That We Can to Help You Achieve Success!

successcmc said...

We Sincerely Desire Your Financial Independence and Will Do All That We Can to Help You Achieve Success!