1. Have a one year emergency fund in CASH $$$$
Not 6 months, better have a full year emergency fund to cover all your expenses for 1 year in CA$H!
Your expenses per month mutiply with 12 and that is the number.
2. Save 10%, invest 20% of your gross income – month per month
Easy,
Right?
Have the cash for large expenses
Smile 🙂
And pay in full for large expenses ( like your wedding, dream honeymoon, house) before spending.
4. Don’t question every of your purchase.
Easy, too!
Never question spending money on books, appetizers, health or donating (to a friend’s charity project or event).
5. Fly business class on long flights
And this means on every flight longer than four hours.
6. Buy the best (products) and make it last. Keep it as long as possible!
Whenever possible, do it!
7. Don’t cap spending on health. Never ever!
No limit on spending for health (personal trainer etc.) or education (courses, events, etc.)
We only get one body. So you should take care of it.
8. Work with people you respect (and like).
You can fire, hire, quit — whatever it takes to get to the point where everyone you work with is worthy of your time and (full) attention.
So earn enought to work only with people you respect and like.
9. Live outside the spreadsheet.
Prioritizie time outside the spreadsheet.
You just need to know your
- savings (how much to save)
- investments (how much to invest each month, or year)
- fixed costs (how much percentage of your gross income? max. 50%
- guilt-free spending (could be 30%)
10. Marry the right person
Your spouse will be your partner in life.
Did you know that financial incompatibility is one of the most common reasons marriages end?