5 Money Freedoms

Key Takeaways

  • 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.

5 Key Principles to Business Success

Key Takeaways

  • Each day in your work, try to attract new people, new resources, new capabilities, new opportunities and new money.
  • Most successful entrepreneurs I know understand the importance of showing up, self-confidence, attitude, knowledge and transformation.
  • For more about this topic, watch Simon Sinek’s video, How Great Leaders Inspire Action.

Good Debt—Bad Debt

Key Takeaways

  • 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.

Cash Flow Clarity

Key Takeaways

  • 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.