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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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  • Home
    • About
    • Why Black Wealth Matters
    • Financial Literacy Quiz
    • Contact
  • Mahogany Make
    • Business Resource Central
  • Mahogany Manage
    • Mahogany Money Credit >
      • Introduction to Credit
      • Components of a Credit Score
    • Mahogany Money Debt
    • Mahogany Money Save >
      • 90 Day Savings Challenge
  • Mahogany Grow
    • Mahogany Money Invest
  • Mahogany Protect
  • L.o.M.
    • Mahogany Money Glossary
    • Moment to Movement: Shop Black Week 2019 Campaign
    • Mahogany Money Library
    • Black Business Central