The Cardone Zone The 10 Rules To Follow To Get Your Money Right
6 snips
Dec 21, 2021 Dive into the essentials of financial discipline with strategies like the '40% rule' for income allocation. Discover how to optimize both business and personal finances through smart reinvestment and a growth mindset. Learn why keeping cash idle holds you back and how active money management can fuel sustainable growth. Shift your mindset towards abundance, challenging traditional saving habits to unlock new financial opportunities and successes.
AI Snips
Chapters
Transcript
Episode notes
Don't Spend Before Earning
- Don't spend money before earning it.
- Delay gratification until the money is in your account.
The 40/40/20 Rule
- Allocate 40% to taxes, 40% to yourself, and live on 20%.
- Don't increase your spending until your income increases.
Write-Off Test
- If you can't write it off as a business expense, reconsider the purchase.
- This principle encourages financial discipline and strategic spending.