- We can let wealth define our character, or we can have our character define our wealth.
- The 4 key money characteristics are prudence, responsibility, humility, and gratefulness.
- You can match these characteristics up with the way you deal with your wealth, and how your wealth deals with the outside world.
- Millennials are saving at the highest rate of any generation currently alive, but they aren’t saving for a typical retirement.
- Two thirds of Americans don’t have enough money in savings to be able to take care of an emergency.
- Millennials care about financial freedom and life experiences, and are saving money to do things as they go through life knowing they will work in to their later years.
- When it comes to your finances, view them from the standpoint that they are a business you are operating.
- Businesses do three things every year: they make sure they have positive net cash flow, they have working capital, and they plan and budget.
- Budgeting and planning every year ensures you are meeting the goals you set for yourself to build your wealth successfully, and that you can pay for both your wants and needs.
- The rise of the gig economy has helped people build multiple streams of income.
- People choose to take on gig jobs for many different reasons, but it’s a great option to help pay down debt, save more, or earn some extra spending money.
- There are pros and cons to a gig job, to include being self-employed with the freedom that entails, to the associated taxes that come with that status.