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But even this well-established money expert said he wishes he had understood certain personal finance concepts earlier in life.
Here are 50 financial concepts he shared.
Also see how to handle common money worries.
The longer you wait, the harder it gets to get things done properly.
There Are No Shortcuts To Building Wealth
Dont be fooled by get-rich-quick schemes.
According to Sethi, building wealth takes time, patience and discipline.
They have to be willing and open to change, and you have to connect with them.
Have More Fun
Get out from behind the spreadsheet.
Let your money give you the gift of enjoying experiences and becoming more adventurous, spontaneous and generous.
Time Your Experiences
Sethi uses the example of someone backpacking across Europe.
This is usually easier for a healthy twentysomething than it is for individuals in their 50s.
Embrace the understanding that your financial picture wont be perfect and youll find yourself improving along the way.
Spend Money on Becoming Who You Want To Be
Do you want to be in better shape?
Consider getting a gym membership to reach this goal.
Have a Big Cash Reserve
This is about having more money outside an emergency fund.
The stability found in this tripod allows him to take on more risk in other areas of his life.
Talk About Money Early in Your Relationship
This ties back in with Sethis first tip.
The longer you wait to discuss finances in your relationship, the harder it gets to have this conversation.
While you should venture to reduce waste, attempting to fully eliminate waste is not the point.
Dont Use the Mini Bar
Its always overpriced.
Sethi ordered room service for the first time ever, which he said was a magical experience.
If I want to do it again, I can.
Sethi recommends investing the difference.
This is thequickest, and most legitimate, wayto build wealth.
If he cant do it exactly that way, he said hell wait until he can.
Sethi said he gave himself the gift of anunlimited book budget.
Talking about money can bring you closer together and build that connection.
Actually, you shouldnt think about what theyre doing at all.
Focus on yourself and run your own race.
In Debt?
Dont Talk About Generational Wealth
Pay off your debt first.
If you start investing today, it moves you that much closer to reaching your rich life.
Celebrate the Journey
Otherwise, youll always feel behind.
Beware of Fake Metrics
Focus on the things that matter instead.
Give Yourself the Gift of True Awe Every Year
At least one wow moment every 365 days.
Become an Expert at Leisure
Dont overwork yourself.
When its time to get back to work, youll be ready.
Theyre looking for get-rich-quick schemes no matter how many times you tell them its a scam.
Dont become one of these people.
Doing so will bring you closer to your actual spend when you factor inall the related expenses.
Your true friends will be OK if you say no.
Those things stick with us.
Your boss doesnt care about that.
What they care about is how youre making their lives easier and making them money.
Once she reframed this narrative, Sethi said, she remembered one of lifes key lessons.
Nobody cares, so show them in a way that makes them care.
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