“The Automatic Millionaire” by David Bach is a bestseller advising people on how to change their financial practices and subsequently their lives for the better. The book begins with an average Canadian couple who manages to retire early with savings of $1 million. It enlists easy methods to manage personal finance.
Here are some Inspiring Quotes From “The Automatic Millionaire”
-Inspiration lying unused is just entertainment. One needs to take new actions to get new results.
-A latte spurned is a fortune earned.
-Don’t buy on credit. Either pay for the things you purchase with cash or don’t buy.
-The real problem with our finances is not how much we earn but how much we spend.
-Every time you earn one dollar, make sure to pay yourself first.
-You can never spend the money you don’t physically see.
-Your current earnings also does not affect the fact that you can and will build wealth.
-Is your income making you more or less accessible?
-You need to treat money the way the rich do- make money work for you instead of working for it.
-The small, insignificant things we waste money on every day can quickly add up to enormous amounts that can cost us our freedom in the future.
-The most straightforward rule of getting rich is to devise and commit to a systematic savings and investment plan.
-Think about the hours of your life you put into earning instead of just percentages on income.
-The most crucial investment decision you have to make is how much you will pay yourself,i.e., how much are you going to put first in your retirement account.
-Some people worry about change whereas other people prepare for it.
-Owning real estate put you in the game of building wealth.
-To be an Automatic Millionaire, you need a cash cushion of at least three months’ worth of expenses.
-Write down specific goals you want to achieve each year. Writing down goals is powerful.
-It is never practical or safe to assume that someone else in your life is going to take care of your finances.
-Money and wealth acts as a tool to help us achieve a particular goal; it is not an end in itself. If the way we handle money conflicts with our core values, we will not live a happy and peaceful life.
-The best investment you will ever make is in yourself.
-Failures are necessary on the path to success. If one is not failing at all, one is not innovating or experimenting enough.
-Life is never easy. But it is a fact that it takes as much effort to have a bad life as it takes to have a good life. You have to put in the effort, so why not go for the good life?
-People usually discuss in great detail what they want to achieve, how high they want to rise, what investments they want to make, without first assessing where they stand at present.
-None of us has a choice; all of us eventually end up playing the money game. The most important question is whether we are on the winning side or the losing side?
-The one true secret of an investor who does well in good and bad times is that he finds money management boring. And boring works!
-There are only three essential things you need to do to become a millionaire: decide to pay yourself the first 10 per cent of what you earn, make it automatic, buy a house, and pay it off early.
-Many people ask if it is so easy to become an Automatic Millionaire, then why don’t more people do it? The answer is simply human nature- most people ignore the things they know they have to do for a better life.
-The strangest truth of all is that money flows faster to those who give back. The reason is that givers attract abundance in their lives rather than scarcity.
-The more you give, the more comes back to you. It is the act of giving selflessly which brings us joy, love and meaning to our lives.
-The more you give, the wealthier you feel.
-Need to get out of credit card debt? Religiously follow these five steps: stop digging yourself a hole, renegotiate the interest rate, pay for the past and the future, pay your debt out of existence and make it automatic.
-If you have become used to living paycheck to paycheck and cannot save anything, you will find that you are running an unwinnable race.
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Carol T. Mahaffey is a certified American Author And a creator of Theleaderboy. Carol is a Self-Taught Marketer with 10+ Years of Experience. She brings her decade of experience to her current role, where she is dedicated to writing books, blogs, and articles, inspiring the world on how to become a better Leader.