MORE IDEAS FROM THE BOOK
Poor and middle class people remain poor or they are one step away from poverty because they depend on single source of income while the rich mindset people create multiple income streams. They use their available resources to create one income and after setting that works to make other income stream. This cycle repeats that's why they richer by time
10 of 10 rule states that one should not spend more than 10% of its net worth on house and not to spend more than 10% of its house value on cars like liabilities. If this is followed by person then he/she will probably not face any money problems.
The five main reasons financially literate people may still not develop abundant cash flow are:-
"Poor and middle class works for money. The rich have money work for them.
Poor and middle class firstly spend their incomes on the needs and liabilities. If something left after goes to the investment
Rich people firstly invest a part of their income and then after spend the left out for need and luxuries.
This thing make a huge difference.
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