18 Money Rules You Must Understand

Want more money?

If you respect money and play the game of money by knowing the rules, you will see a world of abundant money and will make money work for  you.

So let me share 18 little money rules form one of my favourite columnistsMorgan Housel

  1. Emotions can override any level of intelligence.
  2. Confidence rises faster than ability, especially among young men. Reserve Save Money
  3. The only way to build wealth is to have a gap between your ego and your income
  4. No one’s impressed with what you have
  5. An asset’s ability to let you do what you want, when you want, with who you want, is ROI that can’t be found on a spreadsheet.
  6. About once a decade people forget that bubbles form and burst about once a decade.
  7. Your investing ability is unproven until it’s survived a calamity.
  8. Spending money to show people how much money you have is the surest way to have less money.
  9. Avoid disaster, be patient, and you don’t need many smart decisions to do well over time.
  10. Big words mask little thoughts.
  11. You will adjust to most positive financial circumstances, except when it causes you to lose control over your time, which will always hurt..
  12. The goal of investing isn’t to minimise boredom, it’s to maximise returns.
  13. It’s easier to lie with numbers than words. As the saying goes, more fiction has been written in Excel than Word.
  14. Your circle of competence is smaller than you think. Your susceptibility to bias is larger than you think.
  15. Reducing your desires has the same effect as leveraging your assets, but with no downside risk.
  16. Solutions to problems can be shockingly simple; Getting people to adhere to simple solutions can be shockingly difficult.
  17. Debt removes options, savings adds them.
  18. Compounding requires absorbing damage so you’re never forced to quit

Source:  Collaborative Fund – Morgan Housel

Now is the time to take action and set yourself for the opportunities that will present themselves as the market moves on

If you’re wondering what will happen to property in 2020–2021 you are not alone.

You can trust the team at Metropole to provide you with direction, guidance and results.

In challenging times like we are currently experiencing you need an advisor who takes a holistic approach to your wealth creation and that’s what you exactly what you get from the multi award winning team at Metropole.

If you’re looking at buying your next home or investment property here’s 4 ways we can help you:

  1. Strategic property advice. – Allow us to build a Strategic Property Plan for you and your family.  Planning is bringing the future into the present so you can do something about it now!  This will give you direction, results and more certainty. Click here to learn more
  2. Buyer’s agency – As Australia’s most trusted buyers’ agents we’ve been involved in over $3Billion worth of transactions creating wealth for our clients and we can do the same for you. Our on the ground teams in Melbourne, Sydney and Brisbane bring you years of experience and perspective – that’s something money just can’t buy. We’ll help you find your next home or an investment grade property.  Click here to learn how we can help you.
  3. Wealth Advisory – We can provide you with strategic tailored financial planning and wealth advice. Click here to learn more about we can help you.
  4. Property Management – Our stress free property management services help you maximise your property returns. Click here to find out why our clients enjoy a vacancy rate considerably below the market average, our tenants stay an average of 3 years and our properties lease 10 days faster than the market average.
icon-podcast-large

Subscribe & don’t miss a single episode of Michael Yardney’s podcast

Hear Michael & a select panel of guest experts discuss property investment, success & money related topics. Subscribe now, whether you're on an Apple or Android handset.

Need help listening to Michael Yardney’s podcast from your phone or tablet?

We have created easy to follow instructions for you whether you're on iPhone / iPad or an Android device.

icon-email-large

Prefer to subscribe via email?

Join Michael Yardney's inner circle of daily subscribers and get into the head of Australia's best property investment advisor and a wide team of leading property researchers and commentators.


Michael Yardney

About

Michael is a director of Metropole Property Strategists who help their clients grow, protect and pass on their wealth through independent, unbiased property advice and advocacy. He's once again been voted Australia's leading property investment adviser and one of Australia's 50 most influential Thought Leaders. His opinions are regularly featured in the media. Visit Metropole.com.au


'18 Money Rules You Must Understand' have 1 comment

    Avatar

    May 14, 2019 Ben

    I don’t think the target audience gets it.

    Reply


Would you like to share your thoughts?

Your email address will not be published.
CAPTCHA Image

*


Copyright © Michael Yardney’s Property Investment Update Important Information
Content Marketing by GridConcepts