19 Short Money tips for 2020


  • You don’t own your money, and no one else has any claim on it as well.
  • Spend less money than you make.
  • Having savings gives you options.
  • Staying out of debt is freedom.
  • Freedom and having options are enough to make most people happy.
  • Good health reduces the possibility of financial ruin.
  • Investing your money helps you grow your savings.
  • Stock Investing is simple: buy shares in a great company and hold it for a minimum of 5 years.
  • Stock Investing is hard: reading too much news and emotions always get in the way.
  • Diversifying your investment could save you from financial ruin.
    Don’t know where to start?
  • Use the Barbell portfolio strategy (by Nassim Taleb): 90% in risk-free investment and 10% in high risk, high return investments. Or dollar-cost average invest in a lost-cost index fund like the SPDR S&P 500 ETF through Chaka.
  • Give your money enough time to compound. “You can’t produce a baby in one month by getting nine women pregnant. It just doesn’t work that way.” – Warren Buffett.
  • Improve productivity; in the long run, your income is tied to the quality of your output.
  • Avoid ruin. Don’t do anything illegal – having handcuffs on your hands and wearing a yellow jumpsuit is not fun.
  • It’s hard to get rich converting only time into money. Investing is getting your money to work as well. Hiring is using other people’s time to make more money. Using media and technology could multiply your efforts.
  • Tracking your expenses helps you know where all your money is going, but it doesn’t change anything.
  • Nothing is free. Everything comes at a cost – Earning, Saving and Investing.
  • No hack, technique or advice can make you rich – only desire.
  • “Wealth is what you don’t see – money that hasn’t been spent, cars that haven’t been bought, jewellery that hasn’t been purchased.”

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