100 Top Money Tips From Tony Robbins That Are Always Relevant
100 Top Money Tips From Tony Robbins That Are Always Relevant
June 11, 2024 by Virginia Anderson Edited by Chris Cluff
Entrepreneur and investor Tony Robbins is known for dishing out straightforward and actionable financial advice. Here are some of his most notable tips to reach your saving, investing and budgeting goals.
Focus on Your Money Goals
Robbins strongly believes in using the law of attraction to get what you want in all areas of life — including your finances. He says you can attract success over time by manifesting a positive attitude and mastering your money goals.
Surround Yourself With Successful People
Do you know a few people who have achieved financial success? Maybe they own their own business or plan to retire early. Talk to them and find out how they realized their goals. They can inspire you to reach your own.
Robert Kiyosaki Believes ‘Crash Has Begun’ — His 6 Ways To Use It to Your Advantage
Robert Kiyosaki Believes ‘Crash Has Begun’ — His 6 Ways To Use It to Your Advantage
Chris Ozarowski Tue, June 11, 2024 GoBankingRates
Robert Kiyosaki, financial influencer best known for his “Rich Dad Poor Dad” franchise, recently posted on X that he believes a significant economic downturn, or “crash,” has started. Such periods, he said, are challenging but present unique opportunities to acquire wealth.
Kiyosaki outlined six strategies to leverage during a crash to increase your chances of getting rich. Here’s what he said and which parts of his advice you can integrate into your own financial strategy.
Wealthy people know the best money secrets. Learn how to copy them.
What’s a Financial Crash?
11 Overlooked Risks That Could Ruin Your Financial Stability
11 Overlooked Risks That Could Ruin Your Financial Stability
By Claire Conway Jun-12-2024
Financial pitfalls can throw a monkey wrench into even the most responsible person, which is why everyone should be aware of hidden threats that can derail your financial security. People reveal what unexpected life changes can turn your life upside down. Have you experienced any of these hidden financial threats?
1. All Homeowner-related Expenses
Where do I begin? Owning a home comes with endless potential repairs, from heat and water pumps to air conditioning, flooring, and roof repairs (and everything in between). Although owning a home is a significant life milestone, even the most frugal homeowner confesses that the expenses quickly pile up and easily turn a secure financial situation upside-down.
Five Predictions For The Coming Decade Of Decline
Five Predictions For The Coming Decade Of Decline
Notes From the Field By James Hickman (Simon Black) June 11, 2024
There is a well-known modern proverb (often attributed to the novelist G. Michael Hopf) that goes, "Weak men create hard times, hard times create strong men, strong men create good times, good times create weak men."
The saying sums up the cyclical nature of the rise and fall of societies– and it’s a topic in which I have tremendous personal interest.
Having recently reached middle age, I can comfortably say with the benefit of hindsight that I was born and grew up during the American prime time– the time at which the wealthiest and most powerful country in the history of the world was at its peak.
4 Ways the Upper Class Handles Inflation That the Middle Class Could Learn From
4 Ways the Upper Class Handles Inflation That the Middle Class Could Learn From
Jake Safane Mon, June 10, 2024
Inflation can be a double-edged sword. On one side, it can cut into your budget by raising the cost of essentials like housing, food, and transportation. But it can also be harnessed to grow your wealth, such as by increasing the interest you earn on your savings.
In some sense, being wealthy makes it easier to benefit from inflation. If you have $100 in savings, the difference between a 1% annual percentage yield (APY) on a savings account and a 5% APY is only $4. But if you have $100,000 saved, then the difference is $4,000.
Still, it’s better to earn that extra $4 on a $100 in savings than, say, lose money due to bank fees or pay interest when borrowing money if your balance turns negative. And over time, you can build up your savings and investments more to benefit from inflation further, much like many wealthy people do.
8 Upper Class Money Traps That Ruin Your Wealth
8 Upper Class Money Traps That Ruin Your Wealth
Cindy Lamothe Mon, June 10, 2024 GoBankingRates
Having a higher income doesn’t make you immune to making poor financial decisions. Those in the upper class might have access to more resources, but they can also easily fall for money traps that may jeopardize their wealth.
“One bad money habit that I have noticed among wealthy individuals is overspending,” said Paige Robinson, real estate investor and owner of House Buyers. “With their high income, some people tend to develop a habit of living beyond their means and indulging in expensive purchases or lifestyle choices.”
She added that this can lead to mounting debt and a false sense of financial security, as these people may believe that their high income will always cover their expenses. Below are eight more financial missteps the wealthy should be wary of making
24 People Who Unexpectedly Received A Large Sum Of Money Are Revealing How It Changed Their Lives
24 People Who Unexpectedly Received A Large Sum Of Money Are Revealing How It Changed Their Lives, And Some Stories Are Complete Surprises
BuzzFeed Sat, June 8, 2024
Reddit user u/willow-mist asked the community, "People who won/inherited/earned a large amount of money in a short amount of time, what was the biggest change?" Here are the changes people experienced when they came into large sums of money unexpectedly:
1."You know how you can list things 'highest price to lowest while online shopping or browsing real estate listings?' I thought that was hilarious and that nobody would ever use it. It turns out that it's useful when money is no object, and you prefer not to look at the lower-end options." —u/lessafan
2."Fixing things is no longer about the cheapest way to do it yourself, but about weighing a good DYI solution vs. just writing a check and being done with it. Say a tree needs to be cut down. Without money, you think about what you can use or borrow. Renting is a last resort, but viable.
With money, you may decide owning a chainsaw could be useful, so perhaps you buy one. Beyond that, I ask myself, 'Do I really want to do this thing myself, or should I just find someone to do it for $500?' As a specific answer, I now pay someone to cut my grass." —u/Red__M_M
I’m a Financial Advisor: Here Are the 6 Worst Secrets You Can Keep from Me
I’m a Financial Advisor: Here Are the 6 Worst Secrets You Can Keep from Me
Cara Danielle Brown Sat, Jun 8, 2024,
Some may be surprised to learn that the relationship between a client and their financial advisor can be an intimate one — largely because the events occurring in a client’s personal and professional life can have a significant impact on his or her financial future. And that means all those events — no matter how bad or ugly — need to be disclosed. It may even help to think of your financial advisor like a monetary life coach.
For various reasons, ranging from pride to shame, clients often fail to reveal sensitive information to their advisors which can put their financial future in jeopardy. To find out more, GOBankingRates spoke with seasoned financial advisors to reveal the worst secrets you can keep.
5 Common Emergency Expenses — And How Much They Cost on Average
5 Common Emergency Expenses — And How Much They Cost on Average
Cindy Lamothe GoBankingRates Fri, June 7, 2024
One thing in life is certain: things are unpredictable unimaginable ways. While you can’t know what the future holds, you can plan for it. Because being unprepared can drain your emergency fund empty and leave you in the poor house.
“If your car breaks down, the cost to fix it can vary greatly,” said Melanie Musson, a finance expert with Clearsurance. “If you have a flat tire, you may need to replace all your tires, which will cost about $600 or more. However, you can expect to pay $2,000 or more for a replacement if your transmission goes. A new radiator will cost around $1,000. If you need a new battery, you have an easy fix for about $100.”
Justin Godur, financial expert and CEO of Capital Max, says understanding these common emergency expenses and their potential impact on your finances is essential for effective financial planning.
“By anticipating these costs and preparing accordingly, you can protect your financial well-being and avoid significant stress during emergencies.”
9 Times To Always Have $1 and $5 Bills on Hand While Traveling
9 Times To Always Have $1 and $5 Bills on Hand While Traveling
Dawn Allcot Thu, June 6, 2024 GoBankingRates
As we shift toward a cashless economy, there are still times you want cash on hand. For instance, when you fuel up at the gas pump, you can save as much as 10 cents per gallon — that’s more than $1 if you have a 12-gallon tank and take it down close to empty. There are other times, especially on vacation, when you’ll want a stash of $1 or $5 bills.
Before you leave for a trip, it’s wise to withdraw some $1 and $5 bills from the ATM and keep them in your pocket, a change purse, or your wallet for easy access.
6 Great Money Lessons From the 1950s You Should Use Today
6 Great Money Lessons From the 1950s You Should Use Today
Angela Mae Thu, Jun 6, 2024,
America in the 1950s was a vastly different place than it is today. Unemployment rates were low, individual purchasing power was high, and mass production and new technologies were making everyday goods and services readily available and cheaper.
Many young adults in the 1950s grew up during the Great Depression — 1929 to 1941. As they went on to launch their own careers, start their own families and pursue the American dream, they did so with the financial lessons they learned along the way.
And those lessons? They were passed down to their children and their children’s children.