8 rules of money, ignorance of which makes us poor (And their knowledge can make us rich)

You don't have to make a lot of money to always have money in your wallet.


The trick is different - you need to be able to "make friends" with your finances, find the right key to them, and start talking to them in the same language.


Otherwise, you will not see prosperity as soon as you can.


The Eight Rules of Money, Not Knowing Which Makes Us Poorer:


1) Above-average results (including financial results) require that you aren't afraid to look or act "different.


Most people are afraid of being different from the group, of looking like a "black sheep" and of doing things differently than everyone else around them.


2) Getting rich is not easy (but it is possible).


It's even harder to stay rich for a long time.


But the hardest part is being content with what you have.


3) Good investments are 50% psychology, 48% knowledge of the history of economic and financial market behavior, and 2% knowledge of investment terms.


4) Bad investments are 50% due to your overconfidence and 50% due to excessively high commissions (which you lose on your investments).


5) Real wealth is not visible.


What makes you rich is what you don't see:


Is your money (which has not been spent);

your cars (which have not been bought);

jewels (which have not been bought);


Wealth is your assets and investments that can work in your place.


6) Treating people well is the easiest (and incredibly powerful) competitive advantage in your career.


7) It is an unreasonable risk not to have a "financial cushion" for 9 months of minimum expenses for your family.


It is the financial cushion that will give you the peace of mind to find a new good job (in case you lose it).


8) Being competitive in business and the labor market is the only possible (besides luck) way to sustainable financial well-being.


The following will help you do this:


learn faster than your competitors;

understand your customers (bosses) better than your competitors;

communicate and interact with people more effectively than your competitors;

be prepared to fail;

wait (be patient) longer than your competitors.

Everything else is fleeting and secondary...


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