SimplifyingFinance
@SimplifyingFin
💕 Master the skill of Financial Literacy ✨Teaching how to invest & grow rich 🌎 Passive income, stocks, business, & more.
As more common people buy designer products, those brands lose their “luxury” title. Something’s value is dependent on its supply & demand. Low supply, high demand = expensive. This is no longer the case for Gucci, LV, and Prada which are becoming more common (less scare!)
How to “Stock Market” for Beginners: 1) Invest 80% in the S&P500 & 20% in Stocks Why? This minimizes risk, but also teaches you how to control emotions and be patient! It also offers an average of 9.6% returns just from the index fund!
Summary of How to Win Friends & Influence People by Dale Carnegie: 10)Best way to NOT argue: avoid it 11)If you’re wrong, admit it 12)Begin in a friendly way 13)Let the other person believe that it’s their idea (even if it’s yours, makes them more likely to be convinced)
Summary of How to Win Friends & Influence People by Dale Carnegie: 6)Remember that a person’s name is the most important thing to them! 7)Be a good listener. Encourage them to talk about themselves (not just about you!) 8)Talk in terms of their interests 9)Dramatize your ideas
Summary of How to Win Friends & Influence People by Dale Carnegie: 1)Don’t criticize, condemn, or complain 2)Give honest & sincere appreciation 3)Arouse in the other people an eager want 4)Smile. 5)Be genuinely interested (don’t fake it!)
Summary of Rich Dad, Poor Dad by Robert Kiyosaki (Part 3/3): 6) Biggest obstacle for wealth: Fear 7)Your house is a liability 8)Build businesses. Invest. Don’t save 9) Always, always invest and work for learning.
Summary of Rich Dad, Poor Dad(Part 2/3): 4) Rich earn, spend, and then pay taxes. Poor earn, pay taxes, and then spend. 5)2 types of investors: Investment Packages (entrust money to developer or fund manager) & Professional Investors (do own research & investing)
Summary of Rich Dad, Poor Dad by Robert Kiyosaki (Part 1/2) 1) Rich people make money work for them them. Poor people work for money. 2) It’s not how much money you have. It’s how much money you keep 3) Rich buys assets. Poor buys liabilities.
Gorgeous gorgeous girls spend less than what they earn and then invest the rest 🤩💕
Side Hustles for Teens ✨ 1)Teach Younger Kids English Online; pays $15-$30/hr 💕 2)Focus Groups (online & in person); can be paid $200-$1000/group🐳 3)Be a freelancer (can sell your art, writing, skills on Upwork or Fiverr); can make $50+ per project 🔥
The goal is to be rich, not to look rich. I rather wear a sweater and hoodie with millions in my bank account than be covered in jewelry and luxury bags with only a few thousand in my bank account.
Investing in the S&P500 offers security, but it also teaches you how to remain calm and control your emotions when you see prices fall.
Investing also means spending your money in things that teach and inspire you. This includes books and experiences 🌎📚💕
In the beginning of 2021, Tesla was at $719. In the beginning of 2022, Tesla was at $1062. Tesla grew by 48% this past year while savings in bank accounts grew by 1-2%. Your money is not growing in the bank!
How to Set Up a Roth IRA (for beginners✨) 1) Open a Brokerage (often possible through your bank, however not necessary) 2) Transfer money into your account 3) Invest the money into ETFs, index funds, stocks (up to you!)
It’s 2022, which means it’s a new year to contribute $6000 to a Roth IRA! What Is a Roth IRA? A Roth IRA is a retirement account where you contribute money and after investing, it can grow tax-free!
If you want to increase your wealth, you need to understand the 50-30-20 rule! Here’s the jist: 50% of your income goes towards needs such as rent, groceries, insurance & such. 30% goes to wants: clothes, shoes, experiences 20% goes to goals: savings, retirement, investing
The 3 BEST Books I would recommend to someone STARTING their journey to Financial Freedom: ✨Rich Dad, Poor Dad (by Robert Kiyosaki) 🌎Atomic Habits (by James Clear) 💕I Will Teach You To Be Rich (by Ramit Sethi)
51% of Americans have less than 3 months worth of emergency savings according to CNBC. This is why financial literacy is so important, especially for young kids. Gen Z and Millennials needs to become financially literate in order to NOT be part of that 51%.
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