We can’t deny the fact that we need money. We need money to pay our bills. We also need it to advance in our lives (e.g. for education). But what is the right way to treat money? How can we live a meaningful life without money worries? I believe this quote by Jonathan Swift gives us a good answer:
A while back, I read The Code Book by Simon Singh. It’s a good book about the history of codes and code breaking. Among others, the book covers the role of code breakers in wars. They play an essential role there. Why? Because if you break the enemy’s code, you can grasp the real situation of the battle. You can then make the right decisions. Instead of just directing your troops based on guesses, you can direct them the right way. That was the case in World War II. The Allies were able to break the Axis’ code, and because of that they had situational awareness, which gave them a big advantage.
Money, of course, plays an important role in our lives. While it’s not everything, it can help you achieve your goals. That’s why you should always increase your financial intelligence. An important part of financial intelligence is learning how to build wealth. I recently read a good book on that titled The Millionaire Fastlane by MJ Demarco. You might not like the title, but it’s a solid book with good advice. In fact, it’s one of the best books I’ve ever read on wealth creation. The book contains a lot of lessons, so I can’t cover all of them here. But I’d like to share the key lessons with you. If these lessons seem controversial, I suggest you to read the book yourself. I don’t have the space to explain the concepts in depth, but the book gets its point across well. Without further ado, here are seven key lessons on wealth creation:
Last week I wrote about how you should live by design and not by default. Living by design helps you live your life to the fullest. Living by default, on the other hand, is a sure way to mediocrity. Now I’d like to discuss an aspect of living by design, which is investing in your future. The fact is: a bright future won’t just happen. You must work for it. You must invest in it. The more you invest in your future, the more you will reap. Today your life might not seem that much different from those around you. However, if you keep investing in your future – it will be different. People will be surprised at your progress. So, how can you invest in your future? Here are five ways: 1. Build your financial foundation. Like it or not, your personal finance plays an important role. Many people can’t reach their dreams because of financial constraints. They are overwhelmed by debt. They live paycheck to paycheck. They have no space to pursue their dreams. A strong financial foundation, on the other hand, opens a way for you to reach your dreams. It gives you the freedom you need […]
Everyone has a dream lifestyle. Living it, however, is another matter. There is one thing you must have if you want to live yours: freedom. Freedom here is the ability to live on your own terms. Without it, you can’t live your dream lifestyle because you must follow someone else’s terms. There are three components of freedom: Financial independence: having the money to sustain the lifestyle you want. Time independence: having control of how you spend your time. Location independence: having control of where your location is. The more you have of these three components, the more freedom you have, and the more you can live your dream lifestyle.
Like it or not, your life is filled with decision-making. From the moment you wake up until the time you sleep, you have to make decisions. That’s why it’s important that you improve your decision-making skills. Doing so will improve the quality of your life. For effective decision-making, there is one thing you need to avoid: decision fatigue. What is it? This excerpt from Michael Lewis’s profile of Barack Obama explains it: