10 Hacks That Will Make You Rich
Inspired by the book "Redefining Financial Literacy" by @CindyCouyou
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Inspired by the book "Redefining Financial Literacy" by @CindyCouyou
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1. Become Financially Literate
For every $100 spent on education, 2 cents are spent on financial literacy.
The real crisis is:
- Financial illiteracy
- Bad money management
- Lack of financial education
If you are financially literate, your future is yours for the taking.
For every $100 spent on education, 2 cents are spent on financial literacy.
The real crisis is:
- Financial illiteracy
- Bad money management
- Lack of financial education
If you are financially literate, your future is yours for the taking.
2. Diversify your Portfolio
Develop an investment strategy that provides strength and stability in uncertain markets.
A diversified portfolio can earn you income and high returns even while you withdraw money during retirement.
Develop an investment strategy that provides strength and stability in uncertain markets.
A diversified portfolio can earn you income and high returns even while you withdraw money during retirement.
- Recommended reading: Alternative Investments
Alternative investments are a good option to further diversify your portfolio, mitigate investment risk, and potentially increase your future returns.
Learn more about alternative investments here: themillennialmoneywoman.com
Alternative investments are a good option to further diversify your portfolio, mitigate investment risk, and potentially increase your future returns.
Learn more about alternative investments here: themillennialmoneywoman.com
3. Confront your Money Beliefs
Your beliefs are shaped by:
- Family
- Social media
- Childhood experiences
Do your beliefs align with fact or fiction?
Confront your beliefs. Learn to unlearn.
Your beliefs are shaped by:
- Family
- Social media
- Childhood experiences
Do your beliefs align with fact or fiction?
Confront your beliefs. Learn to unlearn.
4. Take Action
Knowledge alone is not enough to change your behavior.
You win by transforming:
1. Information to knowledge
2. Knowledge to action
3. Action to results
Don't just sit on knowledge. Act on it.
Knowledge alone is not enough to change your behavior.
You win by transforming:
1. Information to knowledge
2. Knowledge to action
3. Action to results
Don't just sit on knowledge. Act on it.
5. Develop Actionable Habits
Actionable habits can change your money mindset.
Instead of acting with impulse, try to:
- Take a breath
- Analyze the situation
- Take actionable steps
- Reward yourself when you win
Small habits yield large results.
Actionable habits can change your money mindset.
Instead of acting with impulse, try to:
- Take a breath
- Analyze the situation
- Take actionable steps
- Reward yourself when you win
Small habits yield large results.
6. Prepare for Retirement Now
49% of Americans are worried about outliving their money.
Start by:
- Investing early
- Finding the right partner
- Diversifying your portfolio
The more comfortable you feel with financial matters, the better off you'll be in retirement.
49% of Americans are worried about outliving their money.
Start by:
- Investing early
- Finding the right partner
- Diversifying your portfolio
The more comfortable you feel with financial matters, the better off you'll be in retirement.
7. Think Big
Financial literacy starts at a macro level.
You'll see the bigger picture if you learn:
- History
- Politics
- Economics
Financial literacy has implications on not just the micro-level, but also on the macro level.
Financial literacy starts at a macro level.
You'll see the bigger picture if you learn:
- History
- Politics
- Economics
Financial literacy has implications on not just the micro-level, but also on the macro level.
8. Aim for Financial Freedom
24% of Americans will run out of money in the next 30 days.
The American dream today is not material wealth, it's freedom.
To earn freedom, you'll have to work harder than ever before.
24% of Americans will run out of money in the next 30 days.
The American dream today is not material wealth, it's freedom.
To earn freedom, you'll have to work harder than ever before.
9. Adapt to Change
COVID-19 will change the future as we know it.
Some changes include:
- Savings rates increase
- Consumer spending decreases
- Widening of the inequality gap
Pandemics have a habit of altering the status quo.
Don't fall behind the changing times.
COVID-19 will change the future as we know it.
Some changes include:
- Savings rates increase
- Consumer spending decreases
- Widening of the inequality gap
Pandemics have a habit of altering the status quo.
Don't fall behind the changing times.
10. Control your Emotions
Modern Portfolio Theory assumes all investors are rational.
This is simply incorrect:
- Humans are emotional
- Humans don't want to lose money
- Humans are inundated with fake information
Control your emotions before they cloud your judgment.
Modern Portfolio Theory assumes all investors are rational.
This is simply incorrect:
- Humans are emotional
- Humans don't want to lose money
- Humans are inundated with fake information
Control your emotions before they cloud your judgment.
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themillennialmoneywoman.com
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Get FREE access to:
- Exclusive finance tips
- Wealth building strategies
- Step-by-step investing guides
Click below to learn more 👇
themillennialmoneywoman.com
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