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Ten Mental Tips to Improve Cash Flow
Control these ten habits or they will control you.
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Control these ten habits or they will control you.
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1. Invest in Yourself
You are the greatest investment.
Itâs cliche but true.
Always level up the fundamentals:
Love, life, health, career.
Listen to podcasts.
Read. Learn. Create
If you provide value the money soon will follow.
Pay yourself first. Trust me.
You are the greatest investment.
Itâs cliche but true.
Always level up the fundamentals:
Love, life, health, career.
Listen to podcasts.
Read. Learn. Create
If you provide value the money soon will follow.
Pay yourself first. Trust me.
2a. Make Purchases in a 10 Year Time-Frame
âIf you are not willing to own a stock 10 years, do not think about it for 10 minutes.â - Warren Buffett
Apply this lesson to your life.
Think of everything this way.
How will this purchase affect me over the next 10 years?
âIf you are not willing to own a stock 10 years, do not think about it for 10 minutes.â - Warren Buffett
Apply this lesson to your life.
Think of everything this way.
How will this purchase affect me over the next 10 years?
2b. Make Purchases in a 10 Year Time-Frame
A $200 per month Cable TV subscription will cost you $24000 over the span of ten years.
What would that money be worth if you invested it?
$41000
The bad decisions add up.
A $200 per month Cable TV subscription will cost you $24000 over the span of ten years.
What would that money be worth if you invested it?
$41000
The bad decisions add up.
3a. Define Your Needs and Wants
âYou can afford anything but not everything.â - Paula Plant
Create a list of items you truly need:
Food
Housing
Internet
Utilities
Transportation
Then, create a list of wants:
Cigars
Cellphone
Vacations
Electronics
Luxury Items
âYou can afford anything but not everything.â - Paula Plant
Create a list of items you truly need:
Food
Housing
Internet
Utilities
Transportation
Then, create a list of wants:
Cigars
Cellphone
Vacations
Electronics
Luxury Items
3b Define Your Needs and Wants
First, you will cover your needs.
Once they are covered you can think about the wants.
But you should not buy everything from your wants.
Reward yourself with an item from your âwantsâ list once you have reached a goal. Be selective.
First, you will cover your needs.
Once they are covered you can think about the wants.
But you should not buy everything from your wants.
Reward yourself with an item from your âwantsâ list once you have reached a goal. Be selective.
4. Live in the worst-case scenario.
The Stoic Mindset in action.
Under-estimate your income
Over-estimate your expenses.
We all see the world in rose-colored glasses.
Take them off. Prepare for the worst.
You will automatically cut back on your expenses.
The Stoic Mindset in action.
Under-estimate your income
Over-estimate your expenses.
We all see the world in rose-colored glasses.
Take them off. Prepare for the worst.
You will automatically cut back on your expenses.
5 Buy Toyotas
Be like Scott Kilmer. Buy Toyotas.
Donât get suckered by marketing and advertising.
Ignore the brand name.
Judge a product for what it really is.
What does it do for you?
Challenge your values concerning physical goods.
Then you will desire them less.
Be like Scott Kilmer. Buy Toyotas.
Donât get suckered by marketing and advertising.
Ignore the brand name.
Judge a product for what it really is.
What does it do for you?
Challenge your values concerning physical goods.
Then you will desire them less.
6a The 1 Month Rule
Are you going to buy something brand new?
Delay the purchase for 30 days.
If you still want to buy the product next month.
Then do it.
This will stop you from buying irrationally.
Advertisers try to get you to "buy now & #39;for a reason.
Fight back.
Are you going to buy something brand new?
Delay the purchase for 30 days.
If you still want to buy the product next month.
Then do it.
This will stop you from buying irrationally.
Advertisers try to get you to "buy now & #39;for a reason.
Fight back.
6b The 1 Month Rule
When you make a purchase you think it will bring you happiness forever. It will not.
Think about hedonistic adaptation.
The rush lasts for two weeks. Tops.
Then you move onto something else.
Learn to be in control of your emotion.
Or they will rule you.
When you make a purchase you think it will bring you happiness forever. It will not.
Think about hedonistic adaptation.
The rush lasts for two weeks. Tops.
Then you move onto something else.
Learn to be in control of your emotion.
Or they will rule you.
7a Never Take a Free Gig
I once studied under one of the greatest conductors in the world. One day he pulls me aside.
He says, "Never take a free gig."
One year later he started an orchestra.
And he didnât pay any of the members.
Don& #39;t be the sucker. Charge.
I once studied under one of the greatest conductors in the world. One day he pulls me aside.
He says, "Never take a free gig."
One year later he started an orchestra.
And he didnât pay any of the members.
Don& #39;t be the sucker. Charge.
7b Never Take a Free Gig
Most people tend to under-value themselves.
It takes confidence to charge for your service.
You will be taken advantage of if you think this way.
Always charge just a little more than you think you should.
Make the market respect you or it wonât.
Most people tend to under-value themselves.
It takes confidence to charge for your service.
You will be taken advantage of if you think this way.
Always charge just a little more than you think you should.
Make the market respect you or it wonât.
8 Avoid Unlimited
Be wary of anything that is packaged and sold as unlimited.
You are always buying more than you need.
They are marketed to you because they are sinple.
Cell phone companies love these plans.
Big moneymakers.
Anything offered in excess is very bad for you.
Be wary of anything that is packaged and sold as unlimited.
You are always buying more than you need.
They are marketed to you because they are sinple.
Cell phone companies love these plans.
Big moneymakers.
Anything offered in excess is very bad for you.
9 Automatically Save
Never trust yourself to save money.
Set everything to automatic and have it taken out of your paycheck directly. So, when payday comes your money is automatically saved.
Set it up properly and you will never even think about it.
Never trust yourself to save money.
Set everything to automatic and have it taken out of your paycheck directly. So, when payday comes your money is automatically saved.
Set it up properly and you will never even think about it.
