- Money is just a tool, and you always want it working in your favor.
- Saving keeps you from making bad, hasty money decisions and gives you room to breathe and think.
- Be selective about your friends, embrace long-term planning, maintain positive cash flow and create a “money avatar” for yourself.
- When it comes to taking on debt, always think about what it will give you in the end.
- Fund appreciating assets; don’t fund instantly consumed or depreciating goods.
- Credit cards are not evil if paid off in full. Loans for tuition, homes and businesses should help you build lifelong wealth if managed intelligently.
- Saving first and spending second is the habit that financially successful people of all ages have in common.
- At the end of the day, cash flow is the difference between what you have coming in and what you have going out.
- You want positive cash flow at all times in order to obtain favorable loans when you need them and to accumulate lifelong wealth.
- Understanding the importance of emotion, structure and behavior is key to financial success.
- The older we get, the harder it becomes to change our ways–and that includes our money habits.
- In money, as with so many things in life, you need to combine motivation with the right direction and a clear path in order to make new habits stick.