The author Richard Templar, does a really splendid job of explaining his 100 rules for making more money, and building personal wealth. It will help any person to be in the right mental mindset. It will help you see clear income opportunities. Help you to understand them, and finally benefit from them financially. It is indeed a process. It may be unsaid, but it is clearly there.
The entire list of lessons vary in importance, but many are outstanding, and really stand out. These 100 rules act as a wealth coach for anybody wanting to become more financially independent. Personal favorites include the ones that focus on how to control your emotions on personal spending habits as income grows. Wealth is not often helpful if not properly prepared for. If you fail to plan for higher wealth, your wealth once in place, may cause you to fail.
Wealth should be a friend not an enemy (rule 8). He explains how unexpected large money decisions can be stressful without answers or action at the ready. Understanding the true relationship between money and happiness (rule 14) is not an easy one. Neither is the related wisdom on how money, if only seen as a solution, can often become the problem (rule 11).
The most basic rule is spend less than you earn (rule 36). The many get rich quick schemes are also to be avoided (rule 60) while borrowing money from friends (rule 86) gives a lot of insight into how to deal with such situations. With children, allowing kids to know about poverty as a motivator (rule 95), does have a very productive benefit. It is not really best to shelter children from it. Having direct participation with volunteering experiences, and meeting the homeless or poor who are directly helped by these volunteering efforts is important. It can help change them for the better, the kids who help when they are young, are able to best understand the full impact of their actions in any community service.
The Top 3 Takeaways from this book that impact any reader are:
1) Surprisingly, these very time tested lessons are not difficult to understand, they are just difficult to follow long term for most who read them.
2) Motivation seems to be a very strong driver for many actions needed long term to achieve wealth goals. The higher the motivation, the longer the time possible needed to achieve any goals.
3) Boot strapping startups with your own funds is fine, but when you also borrow funds from friends & family it can be negative. Too often, those same friends and family need to be paid back earlier than possible. There is often permanent friction with those relationships long term.
2) Motivation seems to be a very strong driver for many actions needed long term to achieve wealth goals. The higher the motivation, the longer the time possible needed to achieve any goals.
3) Boot strapping startups with your own funds is fine, but when you also borrow funds from friends & family it can be negative. Too often, those same friends and family need to be paid back earlier than possible. There is often permanent friction with those relationships long term.
No matter what your income level, business owner or new employee, these 100 rules of money are all worth reviewing. It all helps in trying to build any future career and wealth plan. All of these rules are reasonable and need to be answered by each person individually. This is important in order to build a solid foundation for any person's financial wealth plan, no matter what the starting size. Highly Recommended!
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