We are living in a world of insane opulence. More millionaires and billionaires exist today than any other time in history. But the overwhelming majority of us, as in 98% of us, are just middle classers putting food on the table and keeping the lights on.
But…if you pause just for a second and straighten out your fundamentals, you can significantly increase the quality of life and see incredible results.
Below I have listed the 5 Holy Commandments Of Being Rich. Follow them, and avoid the pitfalls that most folk make:
- Pay Off All Debt
Debt is toxic. Do you really really need to make that purchase? A car, a Master’s degree, an expensive shoe? Bring awareness to your spending. If you can’t pay off your credit card completely at the end of every month, you are spending too much.
2. Pick A Job That Is A Fit, And That Hopefully Pays Well
Pick a job that you love, can do for a long period of time and can master. Having a good, consistent income is the cornerstone of life.
3. Have A Strong Credit Score
This is the most important number in your life. Having a good credit score is like being in a full blown relationship. Guard it. Respect it. Build it. Imagine what kind of savings you can get over the duration of a car loan or home loan. The savings literally in the thousands of dollars.
4. Consistently Add To Your Savings and Investments
Sock away your paycheck. Invest your money in passively managed funds: Index ETF Funds, Index Mutual Funds (we’ll explain these in a following article). Keep what’s left over in a high yield online savings account.
5. Make The Right Relationships
They say you are the average of your 5 closest friends. It’s true. Be selective in friendships, your love life and all relationships. Be purposeful in who you connect with. Time is limited.
That’s it. That’s my list of Commandments to a happier life. Thoughts? Leave me a comment!