Nobody cares more about your money than you do. the advice that others give you is almost always in their best interest—which may or may not be the same as your best interest. Don’t do what others tell you just because they’re compelling. Get advice from various folks (and books like this one), but in the end, make your own decisions.
Action beats inaction. It’s easy to put things off, but the sooner you start moving toward your goals, the easier they’ll be to reach.
To build wealth, you’ve got to spend less than you earn.
American culture is consumption-driven. the media teaches you to want the clothes and cars you see on TV and the watches and jewelry you see in magazine ads. Yet studies show that people who are materialistic tend to be less happy than those who aren’t. In other words, if you want to be content, you should own—and want—less Stuff.
Caught Up in the Rat Race typically, as your income increases, your lifestyle grows with it. When your boss gives you a raise, you want to reward yourself (you deserve it!), so you spend more. All that new Stuff costs money to buy, store, and maintain. Gradually, your lifestyle becomes more expensive so you have to work harder to earn more. You think that if only you got another raise, then you’d have Enough. But in all likelihood, you’d just repeat the process by spending even more. Psychologists call this vicious cycle the hedonic treadmill.
Is this spending aligned with my goals and values?
Idea: Checklist before buying something.
40% of happiness comes from intentional activity—the things you choose to do. Whereas circumstances happen to you, intentional activity happens when you act by doing things like exercising, pursuing meaningful goals, or keeping a gratitude journal.
It’s not how much you have that makes you happy or unhappy, but how much you want. If you want less, you’ll be happy with less. this isn’t a psychological game or New Age mumbo-jumbo, it’s fact: the lower your expectations, the easier they are to fulfill—and the happier you’ll be. that’s not to say you should lead an aimless life of poverty; quite the opposite, in fact. But most people confuse the means with the ends. they chase after money and Stuff in an attempt to feel fulfilled, but their choices are impulsive and random.