After my first year reading Business Insider, i have found interesting posts about how manage your money, get good results and why not, make millions, I have resumed some advices:
1. Save more and invest the difference: Saving is not exactly sexy, but it's a highly effective strategy for growing your net worth. If you find a way to put more money aside and invest it smartly for compound growth, Robbins says you'll dramatically speed up your financial goals.
2. Earn more and invest the difference: One of the fastest ways to have more money is to make more. Robbins says the key to increasing your income is to become more valuable.
3. Get better returns: While many people think the secret to getting big returns is taking big risks, Robbins says highly successful investors look for asymmetric risk-reward, meaning big upside potential with little downside.
4. Change your lifestyle: There are smaller lifestyle changes that could help you hold onto your cash, too. Consider downsizing your house or car, cooking more at home, or getting creative with your budget.
5. Do not think 'Money magically appears.'
6. Do not think 'Credit card debt is normal and acceptable.'
7. Do not think 'Spending will make me feel better.'
8. Do not think 'There will never be enough money.'
9. Do not think 'I need to spend all my money, or it will be taken away.'
10. The only way to make real wealth is to get rid of your salary. In a salary, by definition, you are creating wealth for others and you are creating a chain and handcuffs for yourself.
11. The longer you wait to start saving for retirement, the more you miss out on the benefits of the incredible power of compound interest.
12. If you have a 401(k) at work, you’re probably better off investing there than in your own account.
You might get an employer match, and once you set up payroll deduction, you’ll keep saving automatically without thinking about it.
13. Start by saving 15% of your salary at age 25 into a 401(k) plan, an IRA, or a taxable account (or all three). Put equal amounts of that 15% into just three different mutual funds:
A U.S. total stock market index fund, ii) an international total stock market index fund and iii) a U.S. total bond market index fund
Over time, the three funds will grow at different rates, so once per year you'll adjust their amounts so that they're again equal.
14. Talk about money with your partner: If you have a spouse or partner, then getting on track together and working out any disputes can prevent conflicts later. “People often comingle finances with their partner, and open communication is key. Make sure you talk about your finances and life goals with your partner, and align on how you will get there together,” de Baca urges.
15. Stop doing what you’re doing. We all know the saying "insanity is doing the same thing over and over and expecting a difference result." If you aren’t satisfied, the first thing you must do is stop doing what you’ve been doing because what you are doing is what is creating your dissatisfying, current reality.
What’s great about life is the opportunity to completely change your story and direction overnight. Regardless of your past decisions, you’re always one decision away from making the right one.
16. Don’t let money define you. Your self worth has nothing to do with your finances. Being wealthy is a state of mind, but so is being broke. You are what defines you, not what you possess.
17. Start prioritizing your profits: Constantly ask yourself if what you’re doing is profitable. Focus on doing what you should versus what you feel. Never forget that impact drives income.
18. Start placing a higher value on your time. Time is more valuable than money. You can always get more money, but you can never get more time. It is possible to become twice as valuable, and make twice as much money in the same amount of time.
19. It’s Ok to say no: If you’re over-extending yourself and committing to too many things, this word will change your life. Say "no'' to everything that doesn't create income for you until you get your income to a place you feel confident and secure. Make a commitment to yourself that you will focus on income-producing activities versus tension-relieving activities.
20. Proximity is power. Most broke people hang with other broke people and they usually stay broke, together. Elevate your peer group by reaching out to those playing the game of life at a higher level than you.
21. Lower your excuses. As the excuses go up, the bank account goes down. The best excuse makers or "validators" have the smallest bank accounts. The energy and time you spend on creative excuses is better invested in thinking of actual solutions that move your life forward. Excuses are a disease and those who continue making them will continue to have money issues.
22. Shift your focus from victim to leader. Stop blaming the economy, stop blaming your past, stop blaming your boss or company, and stop thinking the world is out to get you. Charge more, switch jobs, become more valuable.
23. Learn to manage your credit cards.
Mark Cuban, billionaire entrepreneur, investor:
"That credit cards are the worst investment that you can make. That the money I save on interest by not having debt is better than any return I could possibly get by investing that money in the stock market. I thought I would be a stock market genius. Until I wasn't.
"I should have paid off my cards every 30 days."
24. Skills are worth more than a job.
Tim Ferriss, angel investor, best-selling author of "The 4-Hour Workweek":
"optimize for learning, not earning. Work directly under or with master dealmakers, and acquire skills. This is particularly true for negotiating and hard skills like coding.
25. You need a plan for your money.
Alexa von Tobel, founder/CEO of LearnVest.com, author of "Financially Fearless":
"Not having a financial plan is a plan — just a really bad one! Given what I see as a general lack of personal-finance education, it can be all too easy to wing it with your money.
26. Learn to manage the money you have now, no matter how little.
Debbi Fields, founder, Mrs. Fields:
"Looking back now, I know that I would have greatly benefited had I initiated an investment strategy as a young adult. I was so busy trying to save every dollar and living paycheck to paycheck that the idea of wealth creation was never really a consideration.
27. Have a sense of urgency: Young millionaires become successful so early in life because they constantly work toward success instead of waiting for opportunities to come to them.
28. Find a strong mentor: Millionaires don't reach that status alone, and even self-made millionaires find smart, wise mentors to guide them as they build their careers.
29. Focus on leverage: Time is money, and while the traditional method of trading your time for a proportional payment will earn you a decent salary, it won't make you a millionaire.
30. Don't care what other people think. Young millionaires don't waste time trying to please people who don't believe in them or win over those that don't support them. Instead, they focus on their own vision and learn to believe in themselves.