BOOK SUMMARY :- The rules of WEALTH . ( Richard templar)

So folks ! this book is all about wealth . How to think wealth , getting wealth , getting even more wealth , staying with your wealth and lastly sharing your wealth . So without any ado , let’s get into it .

How to think about wealth ?

• Set your target first . Define wealth for yourself . Is a million USD enough for you or 100 million or a billion USD ? Decide your target and work for it .
• Money itself is not evil . What you do with your money might be . If not all , it can solve 99% of your problems. Keep on saying ” I love money and money loves me .” To learn more about affirmations , click this link https://letsreadtogetrich.com/how-to-learn-the-power-of-affirmations/
• You can make lots of money with your job also . So don’t rush to be the next founder or co founder of something .
• You have to walk the talk . Watch , read and learn from the rich people around you . Check their routine , what they eat , what they read , when they wake up and when they go to bed . Try to be like them .
• Don’t envy what others have . Just focus on your development . Try to get better from yesterday .
• Do you have what it takes to be wealthy ? plz ask yourself .

How to get wealthy ?

• Bro plz move your butt . Do what it takes to reach your target . Stop being lazy All the rich guys work their socks off . They do more in a day than most of us do in a month .
• Get your spending under control. Keep a record of everything you spend . Put a hold on your daily caramel latte from Starbucks . As they say ” Money saved is money earned “.
• Conceive .. Believe and Achive . Believe that you are getting rich , dress like one, behave like one and you will see the difference .
• Start saving young . But if you are 30 like me then teach your children to start saving young . Suppress that urge to buy the latest iPhone or going to roof top bars every Saturday night . Save that money and invest in stocks.
• If you want to get rich quick , then start selling . Selling is the bedrock upon which every fortune is built . Read my post on how to get rich by selling by clicking on this link https://letsreadtogetrich.com/how-to-make-money-by-selling/
• Start doing a side hustle , do something productive in your free time , like i have started blogging in expectation of earning some bucks out of it .. Let’s see .
• Gaining wealth is a slow process . If you get it all quickly you have no time to acquire experience and sense . You will not value money if you have earned it easily .

How to get very very rich ?

• Be vigilant with your money . You should know what you are earning per day and what are your expenses on a daily basis .
• Don’t sit back . The wealthy don’t take tea breaks , lunch breaks , holidays . They keep that fire in their belly always . They work harder and enjoy greater awards .
• Make your money work for you . Don’t leave property empty , it may be increasing in value but you are missing valuable rental income .
• Take care of your business passively after a point of time . Don’t retire completely . You will drop down dead immediately you do that .
• This one is for today’s scenario . Don’t surrender your shares in the company very easily to an angel investor . Hang on to every bit you have got . Borrow , take loans but don’t give away equity.

What are the rules of WEALTH ?

• Never borrow money from friends or family . If you fail to pay them back , you risk losing their friendship, which of course would mean much more to you than the loan would.
• Never lend money to friends and family unless you are prepared to write it off . That way when they don’t repeat you , you’ll feel just fine about it .
• Don’t over protect your children from the valuable experience of poverty . Teach them to value every penny they get from you .
• Don’t hand over your finances to someone else if you are still in position to handle them . Don’t hand out your credit cards . Don’t give anyone authority to sign personal cheques.
• Don’t flaunt , be frugal . Be careful with your money . Flaunting creates envy , jealousy , criticism and condemnation . Don’t ever mention how much you have got , what you are worth or how much you earn.
• Your parent’s money is their business . they can do whatever they feel like doing with it . They can spend it in casinos , on charity or to any of your siblings. You are in no position to ask .

To learn more about savings, investing and compounding , check my other blog https://letsreadtogetrich.com/book-review-the-psychology-of-money/