Everything You Need to Know About Money in 3 Minutes

Here's everything you need to know about money.

The greatest quote about money:

"Money solves problems created by not having money." -John Carlton

That's all...

A pile of money is a pile of possibilities, not results. Money is never the goal. It's a resource to help achieve your goal. Which means, money is never the only way of solving a problem. There are always other ways. Money is often the most convenient.

Second greatest quote(paraphrasing):

"A budget is not a restraint. A budget is a plan for your money. Without a budget, your money is WORTHLESS." -Dave Ramsey

If you don't decide on a plan, your money will serve someone else's plan. 100% of the time.

It's currency. Energy. It's emotionally slippery. It moves. Channel it through your plan.

More money isn't easier to manage, it requires more planning. More forethought and emotional control.

The good news is that if you have money problems right now. You can make a basic plan. You'll have to scramble right now, but you can plan to not have to scramble again.

1. All income goes to essentials and getting out of debt.
2. When you've got more than that, put X% away into a savings account(emergency fund)
3. Plan to spend X% of your money on random impulsive behavior to enjoy life and not cave in on your plan.
4. Do this until you've got 3 months worth of total cost of living comfortably put away.
5. Start investing X% of income into hard assets that hold their value

From there you just get wealthier. It's simple, but not easy.

Next...

---

Start identifying what an actual asset is.

---

Most people(even most wealthy people) don't know the difference between an asset and a liability.

• A new car is not an asset, it's a liability.
• A new house is not an asset, it's a liability.
• Gold, holds its value.
• Education that helps you gain a skill necessary to make more income, is an asset.
• Your health, is the hardest asset that exists

---

Always remember:

Your time on earth > All the money in the world.

---

I mean that statement entirely literally. It's not a hyperbole. No exaggeration whatsoever. Equal to or less than "all the money in the world" is insanity.

Money is a useful resource. Use it to spend your time how you want. That's what financial freedom is about.

Being broke sucks, but if you don't have a plan for your money, you will always live paycheck to paycheck.

Only a plan gets you out of that cycle. Because you being in the cycle is all part of someone else's plan in the first place.