“We don’t have money problems our problems with money are direct results from our own beliefs and behaviours” – Dave Barrie

3 laws to mastering money

  • Respect money and be indifferent towards it?
  • Being self aware and understanding where money comes from?

The 3 basic Laws of Money:

1.Acquire money = Live on less than I earn. Regardless of my job and position at a minimum I must be paying myself (10% and or more) of what I earn first. Develop automatic savings plans!! Identify goals for future investments and rainy-day funds.

2.Keep it = The purpose of a budget is to control the expenses and grow our net worth. Clearly decide what are necessary expenses and desires. Accept responsibility and take a hands-on approach by not frivolously spending your money and consistently choosing poor investment options that lose your principal and pay no dividends.

Seek advice from experts only. However, I don’t recommend other people spending your money on things you don’t understand. I encourage you to make wealth a habit of study. The more you learn you can and will prosper.

Insurance = would it be wise to protect ourselves from unexpected tragedies?

3.Use it = What I save must also earn. Develop the “Investor Mentality” towards tangible assets.

Is money the root of all evil? I believe money isn’t the root of all evil, it would be lack of money. Because lack of money causes health and relationships problems, and a poverty-crime connection. For example; worry, stress, anxiety and ultimately our PEACE of mind. We will only feel completely free when we’re not pre-occupied with money?

I recommend making financial independence a goal, because a feeling of financial freedom assists in the development of our important goals?

For honest self-assessment;

  1. Why do I want more money? Do I need it to feel important?
  2. Do I really need more money to be free?
  3. What do I need to be doing more of, or less of?

To your better future,

Dave

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