The Financial Rules You Should Live By

💰Never spend money until you have it. Make decisions on when to spend money based on the cashflow coming into your account.

📊Pay your taxes. Allocate 40% of your income towards taxes to ensure compliance and financial stability.

🏦Control your standard of living. Live on less and don't change your standard of living until your income increases.

📈Prioritize investments. Invest in your business or other income-generating assets to create cash flow.

💵Focus on cash flow. Cash is useless until it is put to work. Use money to generate more money through investments and business growth.

Should I spend money before I have it?

—No, never spend money until you have it in your account. Make decisions on when to spend money based on the cashflow coming into your account.

How much of my income should I allocate to taxes?

—Allocate 40% of your income towards taxes to ensure compliance and financial stability.

Should I increase my standard of living as my income increases?

—No, control your standard of living and avoid increasing it until your income significantly increases. Focus on saving and investing instead.

What should I prioritize when it comes to managing my money?

—Prioritize investments. Invest in your business or other income-generating assets to create cash flow and build wealth.

Why is cash flow important?

—Cash flow is crucial because cash is worthless until it is put to work. Use money to generate more money through investments, business growth, and cash flow management.

00:00The first rule is to never spend money until you have it in your account. Base your spending decisions on the cashflow coming into your account.

01:19Allocate 40% of your income towards taxes to ensure compliance and financial stability. Pay your taxes promptly to build trust and avoid legal issues.

02:52Control your standard of living and avoid increasing it until your income significantly increases. Focus on saving and investing instead of indulging in unnecessary expenses.

04:26Investment should be a priority. Invest in your business or other income-generating assets to create cash flow and build wealth over time.

07:42Cash flow is crucial for financial success. Cash is useless until it is put to work. Use money to generate more money through investments, business growth, and cash flow management.