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Rules Of Money That Will Keep You From Going Broke - Business - Nairaland

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Rules Of Money That Will Keep You From Going Broke by Talktoatanda: 7:34am On Mar 16, 2017
Financial challenges are a consistent and somewhat predictable occurrence. At one point or another we all struggle to keep up with our bills despite having a so-called “good job,” or barely have enough money to survive. Even a celebrity like Mike Tyson, who earned close to $300 million in his prime lost everything because he ignored and disrespected the rules of money.

The rich people we look up to seem to have mastered the rules of money because they took the time to study and educate themselves.


If you want to get your money game right you need to learn these critical principles below and apply them religiously:

1. Assess your current situation

Many people are under the illusion that their financial situation is in great shape. That’s because they never take the time to assess their current situation. To achieve financial freedom, you need to know where you are before planning where you’re going.

Take some time to calculate your total debt and the cash value of all your assets. If your assets exceed your debts, you are in good shape. However, if your debts exceed your assets, that means you are broke. You need to think of ways to pay off your debts by either earning cash from a second job or creating and selling products.

This is not an easy task, but it can be done once you have a plan and are willing to do whatever it takes to work your plan.

“The first step towards change is awareness. The second step is acceptance.” – Nathaniel Branden

2. Measure and manage everything

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