Your 8 Responsibilities For Making Money
Have you ever read a story where a celebrity or public figure has lost all their money and wondered how is that possible? Well, discover today how not to do that with these eight responsibilities that will help you master your own wealth. Learn the importance of never spending more than you earn, surrounding yourself with the right people as well as the huge money drains you should avoid helping to retain your wealth.
KEY TAKEAWAYS
Never spend more than you earn, what you should do is to target and ever reducing percentage spend of your income. For example, if you are currently spending 100% of your income each month, then you should target to spend 90% of your income and slowly reduce your outgoings so that your wealth goes up. Become money independent. Becoming money independent means that you have assets that create residual income or there is no reliance or dependence on other people for your income. Surround yourself with wise people. A big common trait in those who made their fortunes quickly and lost it all is that they had a lot of ‘hanger on-ers’ and people who exploited them for their own financial benefit. If you get wise people around you such as mentors, business owners and those who add value to your life then this will reflect on your personal happiness and wealth. You must measure and monitor your money by tracking your spending, tracking your net worth and understanding how many months cash flow you have. You cannot master what you do not measure and many people who have lost all their money simply were not tracking their money correctly. Avoid the huge money drains such as the liabilities and the lawsuits. There are many liabilities out there such as depreciating assets When you spend to try and buy stuff in the sale or where you get money off the asking price. Try to avoid any situations where you may need a high costing lawyer/financial accountant as that is a huge drain on your resources.
BEST MOMENTS
“You’re going to be a master of it rather than a slave to it.”
“Your highs and lows of emotions will cost you money. Try when possible not to spend when you’re emotionally volatile.”
“You want to have a periodic cleanse of the people around you and make sure that people lift you up”
“Find happiness in other ways rather than spending money.”
VALUABLE RESOURCES
ABOUT THE HOST
Rob Moore is an author of 9 business books, 5 UK bestsellers, holds 3 world records for public speaking, entrepreneur, property investor, and property educator. Author of the global bestseller “Life Leverage” Host of UK’s No.1 business podcast “The Disruptive Entrepreneur”
“If you don't risk anything, you risk everything”
CONTACT METHOD
Rob’s official website: https://robmoore.com/
Facebook: https://www.facebook.com/robmooreprogressive/?ref=br_rs
LinkedIn: https://uk.linkedin.com/in/robmoore1979
