Smart Spending

Key Takeaways

  • The idea that the more expensive the item, the better quality it is, no longer applies.
  • Many of the decisions we make are based on emotion, so when it comes to spending, you want to make sure you know what you value, so you don’t spend money on extras you don’t need.
  • Being attentive and intentional about your spending will keep you from regretting your purchases down the road.

The Debt Shovel

Key Takeaways 

  • How we take on debt and how we pay it back can be a bit of an intangible concept.
  • When you initially take on debt, it’s tax free, but when you pay it back, it’s with money after tax, and that means it takes more of your income to pay that debt back than you originally took out.
  • Understanding this concept ahead of taking on any debt will help you plan out what you will need in terms of cash flow to pay that debt back.

Stop Chasing to Start Earning

Key Takeaways

  • If you chase after money, you won’t get it. You need to refocus to attract money.
  • Look at ways you can add value to the world in order to attract money.
  • Money will not come to you all at once; it takes time and a change in the way you think and operate.

Time is Money

Key Takeaways

  • Many times, we look at the cost of something and don’t think about the implications of what that cost can do to help give us our time back.
  • You might have the opportunity to work a few more hours, do a side gig, or do something else to help earn that little bit of extra money to cover the cost of a service or item that can ultimately give you more of your personal time back.
  • Look over the things that take away from your personal time to see if there might be a better way to get more of that time back.