Fortune Builders: A Re-Run On Personal Finance Hacks
Updated: Jul 1, 2019
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This video is all about personal finance hacks and wisdom. It's a good foundation for anyone looking into the real estate field, or simply wants to improve their financial situation. If you are business owner, we strongly suggest this video. If you can get your personal finances in order, your business finances have a greater chance for improvement! So sit back with a notebook and pen, and listen in! The notes below are major points as well as links to all the references mentioned in the video and links to buy the books we suggest. There are also a few extra tools that we thought may be helpful.
MAIN FINANCIAL SUCCESS THEMES:
We need to make more than we spend.
We use our income to make more income by buying assets.
ASSETS : MAKE YOU MONEY
LIABILITY: COST YOU MONEY
Alleviating & Leveraging Debt & Credit:
Debt can be good- but only if you pay your credit cards off each month!
Choose credit cards that offer you something back.
Advice to Reiterate:
Be Disciplined, do the hard work now, or the hard work later... it's exponentially effective if done now.
If running a business, get a business credit card separate from your personal ones
....and remember, "THE SMALLER THE HOUSE, THE BIGGER THE TV- THE BIGGER THE HOUSE THE BIGGER THE LIBRARY"
Invest, don't just save past the emergency cash fund. Put your money where it will make more.
1) Greg mentions a book, "Rich Dad, Poor Dad" by Robert Kiwaski - it is an exceptional read and will help you launch your personal finances with real information and strategies. You can purchase it here: Rich Dad, Poor Dad on Amazon
2) Budgeting is an essential foundation. Here is an easy and fluid worksheet to figure it out! Greg suggests the 80/10/10 rule, but this site has a 50/30/20 system. However you split it up, as long as your needs are covered and you are saving/investing.
3) And just for fun, here is Wendy's Salad Menu . In case you need some lunch ideas for the office.
GO FOR LOWEST INTEREST RATES OVER ALL YEARS
then... REFINANCE REFINANCE REFINANCE
10) PAY CHECK PARKING / VELOCITY BANKING!
Videos: Velocity Banking: https://www.youtube.com/watch?v=MMQiIOjrqwg
Line of Credit: close on it, then
11) https://www.crown.org is Larry Burkett's Ministry
13) FUTURE FORTUNE BUILDERS http://www.futurefortunebuilders.com/