Notes on the 100 Laws
The Laws of Money
46:
The law of Abundance : We live in an abundant universe in which there is sufficient money for all who really want it and are willing to obey the laws governing its acquisition.
- People become wealthy because they decide to become wealthy.
- People are poor because they have not yet decided to become rich.
47:
The law of Exchange : Money is the medium through which people exchange their labor in the productions of goods & services for the goods & services of others.
- Money is the measure of the value that people place on goods & services.
- Your labor is viewed as a factor of production or a cost by others.
- The amount of money you earn is the measure of the value that others place on your contribution.
- Money is an effect, not a cause.
- To increase the amount of money you are getting out, you must increase the value of the work that you are putting in.
48:
The law of Capital : Your most valuable asset, in terms of cash flow, is your physical and mental capital, your earning ability.
- Your most precious resource is your time.
- Time and money can either be spent or invested.
- One of the best investments of your time and money is to increase your earning ability.
49:
The law of Time Perspective : The most important people in any society are those who take the longest time period into consideration when making thier day-to-day decisions.
- Delayed gratification is the key to financial success.
- Self descipline is the most important personal quality for assuring long-term success.
- Sacrifice in the short term is the price you pay for security in the long term.
50.
The law of Saving : Financial freedom comes to people who save 10 percent or more of their income throughout thier lifetime.
- Pay yourself first.
- Take advantage of tax-deferred savings and investment plans.
51.
The law of Conservation : It's not how much you make but how much you keep that determines you financial future.
52.
Parkinson's Law : Expenses always rise to meet income.
- Financial independence comes from violating Parkinson's law.
- If you allow your expenses to increase at a slower rate than your income and you save/invest the difference, you will become financially independent in your working lifetime.
53:
The law of Three : There are three legs to the stool of financial freedome: savings, insurance and investment.
-To fully protect against the unexpected, you require liquid savings equal to two to six months of normal expenses.
- You must insure adequately to provide against any emergency that you cannot pay for out of your bank account.
- Your ultimate financial goal should be to accumulate capital until your investments are paying you more than you can earn on your job.
54:
The law of Investing : Investigate before you invest.
- The only thing easy about money is losing it.
- Don't lose money.
- If you think you can afford to lose a little, you're going to end up losing a lot.
- Invest only with experts who have a proven track record of success with their own money.
55.
The law of Compound Interest : Investing your money carefully and allowing it to grow at compound interest will eventually make you rich.
- The key to compound interest is to put money away and never touch it.
56:
The law of Accumulation : Every great financial achievement is an accumulation of hundred of small efforts and sacrifices that no one ever sees or appreciates.
- As your savings accumulate, you develop a momentum that moves you more rapidly towards your financial goals.
- By the yard it's hard, but inch by inch, its a cinch.
57:
The law of Magnetism : The more money you save and accumulate, the more money you attract into your life.
- A prosperity consciousness attracts money like iron filings to a magnet.
- It takes money to make money.
58.
The law of Accelerating Acceleration : The faster you move towards financial freedom, the faster it moves towards you.
- Nothing succeeds like success.
- Fully 80% of your success will come in the last 20% of the time you invest.