💰Always have one year of emergency fund cash to cover unexpected expenses and job loss.
📈Save 10% and invest 20% of your gross income to create true wealth.
🏠Save and pay in full for large expenses like a wedding, honeymoon, or house to make cost a secondary consideration.
📚Don't question spending on books, appetizers, or donating to charity - set your rules and give yourself true abundance.
✈️Fly business class on flights over 4 hours if it's important to you and fits your budget.
How much should I save for an emergency fund?
—Ideally, have one year of cash available to cover unexpected expenses and job loss. However, adjust the amount based on your own circumstances and start with a more achievable goal if needed.
Why should I save and invest a portion of my income?
—Saving and investing a portion of your income, such as 10% and 20% respectively, can create true wealth over time. As your income grows, consider increasing these percentages to further build your financial success.
Should I pay for large expenses in full?
—Paying for large expenses like a wedding, honeymoon, or house in full can help you make decisions based on factors other than cost. Start saving for these expenses ahead of time to ensure you have enough funds available.
Why should I give myself unlimited spending on certain things?
—Setting permissive rules for spending on things that bring you joy and abundance, like books, appetizers, or donating to charity, allows you to enjoy life while still meeting your financial goals. Find what's important to you and allocate the appropriate budget.
Is it necessary to fly business class on flights over 4 hours?
—Flying business class on long flights can provide added comfort and security, but it's a personal choice based on your preferences and budget. If it aligns with your financial goals and you can easily afford it, why not treat yourself?
00:00Building a rich life starts with creating a few simple money rules.
03:15Have an emergency fund of at least one year's worth of cash to handle unexpected expenses and job loss.
09:57Save 10% and invest 20% of your gross income to create true wealth.
16:39Pay for large expenses like a wedding or house in full, considering the cost as a secondary factor.
19:00Don't question spending on books, appetizers, or donating to charity - give yourself true abundance.
22:56Fly business class on flights over 4 hours to enjoy added comfort and convenience.
