Automatic Millionaire

Today’s book review is on “The Automatic Millionaire” by David Bach. It goes over timeless principles on how to automate your investing, savings, and going debt free.
1. Pay Yourself First — Before you spend your check on utilities and other expenses, you should pay yourself first whether it’s 10%,15% it should go to your savings or some investment fund that you have. This is money for you in the future.

2. Make it automatic — Just like you automatically get deducted for income tax, insurance and other expenses, pay yourself first should also get deducted automatically to insure that you are constantly putting money aside for you. Talk to your employer to make your deductions automatic.

3. The Latte Factor — $5 (average cost of a latte and a muffin) X 7 days = $35 a week = approx. $150 a month. This is money that could be invested. Everyone has little daily expenses that can be cut and invested, go over yours.

That is pretty much the main principles I got from the book. If you want to learn more then check out the book at http://davidbach.com/

Till next time!

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Hustle

Today’s blog is a book review on the book “Hustle” by Neil Patel, Patrick Vlaskovits and Jonas Koffler. The general idea is that more and more people are creating side projects that MOVE them or side hustles. This could be a youtube channel that you started, photography on the side or maybe starting a business on the side. The point is there is more hustle opportunity now than there ever was before.
Other ideas in the book are how to manufacture your own luck by hustling and seeing new opportunities that you didn’t see before, by meeting new people, attending events. Finding meaning in relationships, experiences, reflection. Finally how to balance money and meaning, too much money and you start questioning if you’re doing has enough meaning, too much meaning and you start questioning whether to keep going because you need money. Always try to find the balance.
Anyways more on the book in the link below. Check out the book!