1. There is a difference between being poor and being broke. Broke is temporary, poor is eternal.

So true. Each and one of us had been broke one way or the other. Sometimes we spent too much shopping that there is no more money left for our monthly expense but being broke is just temporary ones we earn or ones we have money again then we’re not broke anymore. Poor is otherwise the bad word. Being poor means you can’t afford nothing at all and no one wants to be called poor.

2. I don’t work for money, money works for me.

This should be our attitude. Day in and day out we work hard for money don’t you think it’s about time that money works for us? To do this is simple, save and invest. That way money is working for you and not the other way around.

3. It’s not how much money you make, it’s how much money you keep.

This is also true. It doesn’t matter how much money you make if you spend it all on nothing then you have nothing. Otherwise even if you earn small but you save and invest it then your money grows.

4. An increase in cash will just result in an increase in spending.

If we have extra money we always think of ways to spend it like buying something, dining out, etc. Let’s try this one instead: An increase in cash will result in an increase of savings.

5. The more you earn the more you spend.

Let’s make it: The more you earn the more you save.

6. If you find you have dug your self into a hole, stop digging.

If you are in debt do not use your credit cards anymore or you will have more debts. Pay of all your debt and start on a new slate.

7. If I want to increase my expense, I must increase my cash flow.

This is a good way of dealing with expenses. If you want to increase your expense you have to work harder to earn instead of cutting back on your savings.

8. The rich buy assets, the poor buys liabilities.

Assets are income generating. Like apartment rental, condo rentals, van for rent, stocks, bonds, mutual funds, notes etc. This are the ones that put money on your pocket.

Liabilities are the ones that burn holes in your pocket.

9. Keep your day time job and mind your own business.

In order for us to save and invest we have to keep our day time job for awhile, while we are increasing our assets. Ones we can stand alone with our assets earning then we can leave our day time job and relax.

10. What’s in it for me.

If you follow all this tips, you will soon retire in less than 10 years.