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How to make rational decisions
The role of biases in decision-making
The impact of social norms on decision-making
It is too risky to rely on one source of income. Try to generate income without trading your time for money.
Ways to generate extra income:
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Debt is a liability unless you use it to finance income-generating assets. Don't take on debt for anything that does not increase in value over time.
Suitable forms of debt include buying real estate as a rental property, investing in your business, or a student loan.
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Consider where you find yourself as each phase requires a different strategy.
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Personal finance is about managing your own money - how much you spend, save, get into debt, and invest.
How you manage your money will depend on your age, education, ambition, family, and country of residence. While this guide will give you enough input to work out a stra...
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Three accounts make it easier to get a grip on your finances.
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First manage the money you do have, then use your money to generate more money. You don't need to think about investing until you're out of debt and have multiple ways of generating income.
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Investment is sometimes a fruitful or risky option. It can be a successful investment when you know what you are investing in and might give you stress when you are not clear about your investment.
You work thousands of hours to make a certain amount of money. And then, you can drop it all on a new car, luxury vacation, watch, or anything else that you desire.The easiest way to grow your bank account is NOT to spend it all. Itβs solid advice. The ancient Stoics knew about this too.
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