Sunday, October 23, 2016

Finance Basics - Lesson 5.3 - Spending Habits

It's interesting, how many books there are about habits.  The reason?  Habits are one of the key reasons people are either poor or wealthy.  If someone has a habit of spending more than they make, in order to live a "celebrity" lifestyle, expect to remain poor.  The wealthy have a different mind set.  No one is immune from this, hence the reason why so many children of wealthy ancestry tend to spend themselves into the poorhouse.

Lesson #1:  Wealthy people read.  A lot.  In order to learn.  A lot.

Book 1:  The 7 Habits of Highly Successful People by Stephen R. Covey

Book 2:  The Millionaire Next Door  by Stanley/Danko

Book 3:  The Richest Man In Babylon by George Samuel Clason

Book 4:  The Total Money Makeover by Dave Ramsey

A book I haven't personally read yet, but I will tell you about:

The next lesson, make sure you try to balance work with the rest of your life.

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