All You Need to Know About
MONEY
The Goal Isn’t Wealth — It’s Freedom From Money Worries
Money doesn’t buy happiness, but it does buy the freedom to choose how you want to live your life. And that matters.
In this book, I’ll help you understand the psychology of money and rethink your relationship with it.
I’ll walk you through the essential concepts no one ever taught you.
I’ll show you the ideas and behaviors you should unlearn, and the principles, tactics, tools, and habits you can use to earn more, spend wisely, and save better.
And we’ll apply it all to your personal finances — practical, everyday strategies to help you reach financial independence and live comfortably with what you have.
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CONTENTS
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Before we start
One basic idea…
…and five steps
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Your goal is to “stop worrying” about money
Money and wealth are different
Money doesn’t buy happiness, but it does buy freedom
Your dependence of money changes with age
Sign a contract with yourself to accept your priorities
Learn to decode your bills
Your brain doesn’t value money the way you think it does
Be rich, but stay low-key
YOUR GOAL IS TO “STOP WORRYING” ABOUT MONEY. 13
MONEY AND WEALTH ARE DIFFERENT THINGS. 16
MONEY DOESN’T BUY HAPPINESS, BUT IT DOES BUY FREEDOM.. 18
YOUR DEPENDENCE OF MONEY CHANGES WITH AGE. 20
SIGN A CONTRACT WITH YOURSELF TO ACCEPT YOUR PRIORITIES. 22
LEARN TO DECODE YOUR BILLS. 25
YOUR BRAIN DOESN’T VALUE MONEY THE WAY YOU THINK IT DOES. 27
Tu objetivo es «despreocuparte» del dinero
Dinero y riqueza son cosas diferentes
El dinero no compra la felicidad, pero sí la libertad
La dependencia del dinero varía con la edad
Suscribe un contrato contigo mismo para aceptar tus prioridades
Acostúmbrate a descifrar las facturas
Tu cerebro no valora el dinero como crees
Sé rico, pero discreto
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It’s not the money, it’s the experience
Define the experience before you chase the number
Can you live the same experience for less?
Take a “mini-retirement” from time to time
Sometimes it’s worth buying time with money
Put a price tag on your time
How much do you need to retire?
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Think net salary, not gross
It’s financially smarter to live in an expensive country (or city)
Use (legal) mechanisms to reduce your taxes or boost your net earnings
Freelance or employee?
Build passive income that earns while you sleep
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It’s easier to spend less than to earn more
Step 1: Take a snapshot of your spending
Step 2: Quantify your leaks and have your epiphany
Step 3: Plug your leaks and optimize your spending with strategic smarts
Step 4: Build a budget
Step 5: Stick to it
Free yourself from time and place
Take advantage of geo-arbitrage
Protect yourself from impulsive purchases
Don’t be the owner
Run away from loans
What if you’re the one lending?
Credit cards are a great tool - if you use your head
Find your personal risk balance point
Transfer your risks to someone else
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“Compound interest is the most powerful force in the universe”
Inflation is the dark side of compound interest
Don’t think what your money can buy, but what it can earn
Understand the difference between fixed-income and equities
Understand the difference between price and value
Wall Street is off its meds again
Manage risk by investing in funds
Ignore charlatans
What about houseing?
When to invest? Nobody knows
Ignore the ups and downs
Inflation, taxes and fees eat from your compund interest
Keep your cool and get on with your life
No excuses, start today
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Final thought: Make smart decisiones- then go live your life
Summary
Other money-related ideas you’ll find in my other books
All the books in this series