I tell everyone never to take more than a fifteen-year fixed-rate loan, and never have a payment of over 25 percent of your take-home pay. That is the most you should ever borrow.
To avoid criticism say nothing, do nothing, and be nothing.” I can’t help millions of people change their lives by saying nothing, doing nothing, and being nothing.
If you want to be skinny, study skinny people, and if you want to be rich, do what lots of rich people do, not what some mythsayer says to do.
Businesses and entrepreneurs have become experts at microwaving rather than Crock-Potting their business plan. They are so worried about the moment, Q1 or Q2, that they lose their vision and their soul. They trade real, rich, abiding, deep success for the momentary win and then are constantly having to start over. Have a long-term vision and execute it. As the billionaire advised me, slow and steady wins the race.
The accountability of a group environment causes people to change their behaviors.
If you invest $464 in a good mutual fund every month from age thirty to age seventy, you’ll end up with more than $5 million.
Debt has been sold to us so aggressively, so loudly, and so often that to imagine living without debt requires myth-busting.
Retirement in America has come to mean “save enough money so I can quit the job I hate.
Repetition, volume, and longevity will twist and turn a myth, a lie, into a commonly accepted way of doing things.
Financial Peace Jr.
Only if you mix knowledge with attitude, character, perseverance, vision, diligence, and extreme levels of work will your college degree produce for you.
Over the long term you get what you deserve, and none of us like it when what we deserve is pain.
The other huge qualifier is that I used the principles I teach to personally build wealth. My wife and I have truly lived this book. The things we teach are not theory – they work!
Passion is so key in leading and creating excellence that I will hire passion over education and talent every time.
You can control the controllables.
Your largest wealth-building asset is your income. When you tie up your income, you lose. When you invest your income, you become wealthy and can do anything you want.
There is no such thing as good debt. The credit card is the cigarette of the financial world. The borrower is always a slave to the lender.
No matter how blessed or distressed you are financially, your first priority every month is to cover what I call the Four Walls. Think of it as the four walls that hold your house together. They are food, shelter, clothing, and transportation. If you have food in your belly, a roof over your head, clothes on your back, and a way to get to work tomorrow, you’ll live to fight another day.
Zig Ziglar says, “If you aim at nothing, you’ll hit it every time.” I love how Zig cuts right to the heart of the matter. If you don’t have a target, if you don’t have a goal in mind, then you’ll never get where you want to go. Most people take a “Ready-Fire-Aim” approach to budgeting. They get the money, spend the money, and then wonder why they don’t have any money. It’s crazy!
Goals Must Have a Time Limit Goals without a time limit are unable to be broken down into micro goals to measure your progress, to observe your traction. You might say, “I want to write a book.” Great, when? In twenty years? In twenty months? If you don’t put a deadline on the goal it will never happen and you will get to eat the bitter fruit of regret.
We enjoy earning interest now, rather than paying it.