1. Money is not everything but it is important. Money is nothing more than a tool.
2. 80-20 rule states 80% of results come from 20% of efforts but the opposite is also true. This applies to money as well. Sometimes we buy things to try and get the full 100% but in reality are money isn't going as far anymore and you begin to get to the stages of diminishing returns.
3. Cash flow is King. And it's greater than having an asset that produces nothing. If an asset begins to cost you more than it brings in. Then it's a liability and no longer an asset
4. A House is not always an asset. Count the cost. A lot of people buy more house than they can afford and end up being House poor. Just because the bank says you can afford a certain size loan does not mean you have to take that loan. Just make sure you are balancing your opportunity cost versus owning a home.
5. Learn how to negotiate and learn how to sell. Not because you will be selling things but because you can be on a stronger footing when people try to sell things to you. Book "Never Split the Difference" by Chris Voss https://amzn.to/30TwLVV
6. Always pay yourself first. In this I mean ensure you are saving money before you spurge all your income. Always remove money for savings before you start buying stuff.
7. Disciple = Freedom. I know it sounds like an oxymoronic statement but truly the moment you learn to discipline yourself in areas of your life that you want to enjoy more. The more you really get to enjoy your life.
8. It is okay to spend money. Just be aware when you do spend the money. Don't spend money without thinking about it. I spend money even though I'm more frugal than most people but there are things that I am willing to spend money on.
9. Bonus Giving is one of the most freeing things that you can do in your life. It gives you a sense of gratitude which allows you to actually look at life from a totally different point of view. When you spend less time worrying about holding on to your money, you actually are able to find more ways to make more money.
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Money Lessons We All Need to Know