Tip o’ the Morning to Ya – Living Below Your Means – The “80/20 Rule”

tip-o-the-morning

Rich Habits Word of the Day

Frugal – Thrifty, penny-wise. Warren Buffet was taught by his parents to live below his means. Consequently, he is considered by many to be frugal.

Rich Habits Fact of the Day

When Jay Leno was a kid he had two jobs. He would spend money he made from one job and save 100% of the money he made from the second job. To this day Leno does the same thing. He lives on the money he makes as a comedian, and  puts all the TV money in the bank. He’s never spent a dime of his TV money.


Image: Jost Ammam

Before the introduction of printing all books were painstakingly hand-written. This time-consuming and highly-skilled process meant that books were extremely expensive and an unthinkable possession for many average people. Changing all this was a German goldsmith named Johannes Gutenberg, who in 1440 invented the printing press. His contraption would become one of the most influential inventions in the entirety of human history.

– See more at: http://www.globetask.com/time-management/10-greatest-time-saving-inventions-in-history/#sthash.0bEQwXUl.dpuf

The Printing Press


Image: Jost Ammam

Before the introduction of printing all books were painstakingly hand-written. This time-consuming and highly-skilled process meant that books were extremely expensive and an unthinkable possession for many average people. Changing all this was a German goldsmith named Johannes Gutenberg, who in 1440 invented the printing press. His contraption would become one of the most influential inventions in the entirety of human history.

– See more at: http://www.globetask.com/time-management/10-greatest-time-saving-inventions-in-history/#sthash.0bEQwXUl.dpuf

Rich Habits Lesson of the Day

85% of the wealthy in my study stated that they have always believed that no matter what an individual can always save money if they really want to. Only 2% of the poor share this opinion. As I’ve shared in many of my success articles, there are three ways to become rich and one of those ways is applying the 80/20 Rule. You save 20% of your net pay and you live off the remaining 80%. The wealthiest in my study were taught this Rich Habit by their parents.

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Thomas C. Corley About Thomas C. Corley

Tom Corley is a bestselling author, speaker, and media contributor for Business Insider, CNBC and a few other national media outlets.

His Rich Habits research has been read, viewed or heard by over 50 million people in 25 countries around the world.

Besides being an author, Tom is also a CPA, holds a master’s degree in taxation and is President of Cerefice and Company, a CPA firm in New Jersey.
 
Phone Number: 732-382-3800 Ext. 103.
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