His book, MONEY Master the Game , is a trailblazer in the financial sector that has broken new grounds and there’s a particular section of the read that I enjoyed so much that I couldn’t help but want to share with you.
Over the course of reading chapter 3.3, I learnt that it’s not enough that you have financial dreams and create a plan, but you can focus on making them come true FASTER.
You can dream big, make it happen then speed it up and these are 5 strategies Tony unleashed to us:
1. SAVE MORE AND INVEST THE DIFFERENCE
According to Tony, saving more is like the extra hour or two that you reclaim in your life from a busy day. It’s like bonus time that has been handed to you. And the best way to speed up your financial dream is investing those savings for compound growth.
It sounds impossible mostly if you live hand and mouth but Robbins assures us that you can always change your story.
You can cut off your payments, for example mortgage and car payment.
You can draft a spending plan to avoid impulse purchases.
And with extra savings you receive from such changes, you can embrace the power of compounding.
THE EARLIER YOUR START, THE BIGGER YOUR NEST EGG.
My favorite quote: ‘You can be rich by having more than you need, or by needing less than you have.’ ~ Jim Mott
2. EARN MORE AND INVEST THE DIFFERENCE
According to Tony, be obsessed with finding a way to do more for others than anyone else. Generally speaking he just defined the best way to climb the ladder in the workforce.
If you want to earn more, you have to be willing to sacrifice your time for others and serve them more. In the process, learn to invest in yourself. As much as you are bringing value to the workplace, learn to create a brand of your own that distinguishes you from the rest. Learn new skills and master your own mind-set.
GROW, CHANGE and DEVELOP.
There is opportunity everywhere. Get in front of a trend and create your own mark by solving an existing problem. Take away the fear of trying and create.
If possible, create easy side hustles to make extra cash.
My favorite quote: ‘Happiness is not in the mere possession of money; it lies in the joy of achievement, in the thrill of creative effort.’ ~ Franklin D. Roosevelt
3. REDUCE FEES AND TAXES (AND INVEST THE DIFFERENCE)
The message I received from this is to not be ignorant and instead take note on the fees that I incur and find ways to reduce it.
You will find most of us, I included, we never follow up why certain charges are the numbers that they are and if it is possible to get the same type of service with a lower fee.
A few coins may sound like nothing, but the moment they are compounded you learn to appreciate even a single coin.
And no organization, for example a bank, will inform you that you are paying too much. Who wouldn’t want a tip?
My favorite quote: ‘You must pay taxes. But there’s no law that says you gotta leave a tip.’ ~ Morgan Stanley Advertisement
4. GET BETTER RETURNS AND SPEED YOUR WAY TO VICTORY
Find ways to invest in opportunities that are rewarding and maximize your returns.
This deserves a special post on its own. I will work on that.
My favorite quote: ‘If you’re prepared, and you know what it takes, it’s not a risk. You just have to figure out how to get there. There is always a way to get there.’ ~ Mark Cuban.
5. CHANGE YOUR LIFE – AND LIFESTYLE – FOR THE BETTER
Life is an adventure. Take the initiative to explore opportunities and improve your lifestyle, and lower your expenses.
Think of the bigger picture.
Discover healthier habits.
De clutter and simplify your life.
Create a budget plan. You don’t have to be fully frugal but it’s worth a try.
My favorite quote: ‘My favorite things in life don’t cost any money. It’s really clear that the most precious resource we all have is time.’ ~ Steve Jobs.
Happy Reading 💚
MONEY Master the Game
Image Credits to Sharon McCutcheon