The Language of Money

3 Money Lessons

• Start by properly defining money
  
  • Money is a unit of time
    
    • Most people trade time for dollars
      
    • Therefore, you don't pay for things in dollars, but rather, the true cost of something is measured by the hours of your life
      
• Compound Interest
  
  • The two most powerful words in money
    
  • You either master compound interest, or you're a slave to compound interest
    
  • Debt is a 4-letter word
    
  • Credit is a game
    
    • Play or be played
      
• There are only 3 ways to build wealth
  
  • Entrepreneurship
    
  • Investing
    
  • Real Estate
    
  • Each leverages money as a resource that can then generate more money independent of time
    
• Bonus: Your net work is your net worth
  
  • You are the sum of the 5 people you spend the most time with
    
  • The people around will either push you to grow or hold you back
    
  • If you want to level up your life, you have to level up your circle
    

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The Economics of Poverty

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