50 facts about building wealth:
(THREAD 👇)
(THREAD 👇)
1) You need less money than you think to retire.
2) If you work more, you can earn more money and spend less time spending money.
3) Buying brand names isn't going to improve your life.
4) Don't wait to make positive changes.
5) Don't keep up with the Joneses - you can't.
2) If you work more, you can earn more money and spend less time spending money.
3) Buying brand names isn't going to improve your life.
4) Don't wait to make positive changes.
5) Don't keep up with the Joneses - you can't.
6) A house is not always an investment.
7) Keep your emergency savings separate from the money you plan to spend day-to-day.
8) If you can't buy it twice, you can't afford it.
9) Set goals and focus on them.
10) Your goals will change over time, and that's OK.
7) Keep your emergency savings separate from the money you plan to spend day-to-day.
8) If you can't buy it twice, you can't afford it.
9) Set goals and focus on them.
10) Your goals will change over time, and that's OK.
11) Keep going through the difficult times.
12) It's never too late to start saving and investing.
13) Don't let lifestyle creep get in the way of building wealth.
14) Small purchases add up quickly.
15) Learn to say no.
16) Using credit cards makes it easier to spend more.
12) It's never too late to start saving and investing.
13) Don't let lifestyle creep get in the way of building wealth.
14) Small purchases add up quickly.
15) Learn to say no.
16) Using credit cards makes it easier to spend more.
17) Always save first when you get your paycheque, instead of buying things before saving.
18) Use your employment benefits.
19) Invest any money you need in 5+ years in assets.
20) Keep your emergency fund in a High Yield Savings Account.
21) Avoid credit card debt.
18) Use your employment benefits.
19) Invest any money you need in 5+ years in assets.
20) Keep your emergency fund in a High Yield Savings Account.
21) Avoid credit card debt.
22) Certificates of Deposits and Guaranteed Income Certificates are great to save for medium-term goals.
23) Only keep up to 12 months of expenses in checking accounts.
24) Use low-interest debt to buy assets.
25) You don't need a lot of money to invest.
23) Only keep up to 12 months of expenses in checking accounts.
24) Use low-interest debt to buy assets.
25) You don't need a lot of money to invest.
26) You shouldn't be saving OR investing if you have high-interest debt.
27) Short term investments don't work out.
28) Watch out for bank and investment fees.
29) Diversify your investments.
30) Always keep learning about the markets and economics.
31) Cash flow is king.
27) Short term investments don't work out.
28) Watch out for bank and investment fees.
29) Diversify your investments.
30) Always keep learning about the markets and economics.
31) Cash flow is king.
32) Start investing what you can afford.
33) Headlines are designed to get your attention.
34) Don't invest money you need in the short term.
35) Buy and hold through the volatility.
36) You're going to be tempted to sell assets at the worst times.
37) Always ask questions.
33) Headlines are designed to get your attention.
34) Don't invest money you need in the short term.
35) Buy and hold through the volatility.
36) You're going to be tempted to sell assets at the worst times.
37) Always ask questions.
38) Not all financial advisers are working in your best interest - always do your own research.
39) Take responsibility for your own money.
40) Wait 7 days to buy wants.
41) Budget to direct your cash flow.
42) Spend less on wants than needs.
43) Invest long-term savings.
39) Take responsibility for your own money.
40) Wait 7 days to buy wants.
41) Budget to direct your cash flow.
42) Spend less on wants than needs.
43) Invest long-term savings.
44) Cutting out wants is usually the best way to start saving money.
45) Avoid lifestyle inflation.
46) Frugal ≠ cheap.
47) Using coupons is smart.
48) Use a shopping list.
49) Eat out less and buy higher quality groceries instead.
50) You don't need a reason to save.
45) Avoid lifestyle inflation.
46) Frugal ≠ cheap.
47) Using coupons is smart.
48) Use a shopping list.
49) Eat out less and buy higher quality groceries instead.
50) You don't need a reason to save.
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If you like my content, make sure to:
- Share the post below
- Follow me: @rajatsonifnance
Thanks for reading!
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