Lesson: Personal Finance 101
It's amazing to see that smart money decisions aren't more complicated than you think. On the contrary, they are simpler. This is not rocket science, but simple and logical principles that only require that they not be violated.
The lottery is designed to win money, which in turn means that the vast majority who buy lose. There are numerous studies that indicate that the people who won lost everything they obtained and were not happier from the prize.
Solomon, who has been the richest person the planet has seen , describes it in the following way : “Then I came to the conclusion that there is nothing better than enjoying food and drink, and finding satisfaction in work. Then I realized that those pleasures come from the hand of God. "
It is worth investing a monthly amount in insurance to protect against a complex or prolonged illness, death of the person who brings the income home, loss of assets (car, house or business) that have taken a lot of effort to acquire.
The famous German financier Mayer Amschel Rothschild , referred to compound interest as the eighth wonder of the world, due to the ability of this formula to exponentially multiply the original capital.
Solomon puts it this way : “Have you seen someone diligent in their work? He will rub shoulders with kings, and he will never be a Nobody. " Jesus also encourages us to : “His lord answered him, 'Well done, good and faithful servant! In the little you have been faithful; I will put you in charge of much more. Come share the happiness of your lord! "
Designer brands and "luxury" labels have been designed to charge high costs for people who "want to belong." If you read the book Millionaire Next Door , you will realize that truly wealthy families keep a low profile.
As attractive as an opportunity may seem, give your head time to make cold decisions rather than emotional ones. Never participate in a business that you do not know , it is a good way to protect the capital that you have formed.
Solomon writes a whole book full of advice for his son called Proverbs and highlights the importance of doing so: "Lead your children on the right path, and when they are older, they will not abandon it."
- Example : you earn 7,000 and you work 8 hours a day x 20 business days (7,000 / 140) gives us a value of 50 per hour. Evaluate when you buy something, the real cost of money based on the hours it took you to get it.
- Example : you want a mobile phone that costs 1,000, it means that to have that item you must work 20 hours of your life (Cost = 1,000 / Average income per hour 50). Doesn't the perspective change? That is giving real value to money
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