This is truly a book full of sage advice that can bring happiness and wealth to millions. This book is one of several inspirational books that I have read recently. With the five steps outlined in this book many lives could be changed for the better. This is a must read for anyone wishing to be more in control of their wealth and eliminate debt.
It’s a fact that too many lives are wasted by selfishness, and overspending. There was a time in my own life that my negative ideas of wealthy people actually hindered my own prosperity. This book lists five lessons that we all need to know to live well financially.
#1 Decide to be wealthy- For me this has been the hardest step. However, all one has to do is simply decide to be wealthy, even if that only means being well off enough to pay all the bills and have enough money afterward to live comfortably.
#2 Be responsible with your money. It is never too late to begin these steps, and begin a new financial life. There are several ways in which one needs to be responsible.
A. Know how much money you have- Once a month and again once a year fill out a net worth form (both Net worth and cash flow forms are available on the website). You can’t change what you don’t know.
B. Know where your money comes from- This will help you know how to make the most of your time and therefore increase your earnings. For example, you might find out that project A, which you spend little time on, actually brings in, more money than project B, which you spend considerable time on. This will help you to decide that maybe you need to spend more time doing project A than project B.
C. Know where your money is going-Knowing this can help you reduce unnecessary spending. This is important in our personal life as well as successful businesses.
D. Know what your money is doing-Make money your servant with interest from savings and “nest egg”. This is very important; you don’t have time to do this.
#3 Keep a portion of everything you earn.-This means saving money for the future.
#4 Win in the Margins-Find as many ways as possible to make money.
#5 Give back- In this book the author states that: “the sin of the desert is knowing where the water is and not telling anyone”.
The author is brief, yet discusses many important aspects of how to handle money responsibly. The information in this book can change a life and help millions focus on what matters so much more than money: relationships with other people. So often we let financial matters destroy our marriages and our health. There is more that I haven’t included, so get the book and do more for your financial life.