The author of "Dog Money" is German investor and entrepreneur Bodo Schaefer, who is known as Europe's money coach.
Through a series of vivid stories and practical methods to reduce complex financial concepts to easy-to-understand and actionable steps, I have distilled the essence of the book into six methods:
1、Keep a success Journal
Write down at least 5 small things you accomplish every day, no matter how small!
It may be difficult to write five at first, but over time, it will force you to learn to observe the small details of life.
At the same time, it is also a process of accumulating confidence, and every time you do something, your confidence will increase a little.
2、Make a dream Album
Write down 10 reasons or dreams you must have money and choose the top three to make a dream album and a dream piggy bank to make your dreams concrete.
I used to buy something I liked right away, but now I think first, is it in my dream list?
This greatly reduces the desire to shop, but also closer to your dreams.
3、72-hour rule
When you decide to do something, make sure you start doing it within 72 hours, or chances are you won't do it again!
72 is a really amazing number. If you divide 72 by the annual return on your investment, it's the number of years it would take you to double your capital.
4、Get into the habit of saving money
The money earned is divided into three parts:
Some of it goes to money to make money
Some of them meet the short and medium term goals
Part of it is used for daily expenses ，No matter what your income is, live within your means, get into the good habit of saving money, If you spend all of what you earn, you will never be rich.
5、Income diversification
Focus on what you know, can do, and have.
Never pin your hopes on just one job!
Make money by always solving problems for others. Money is made with brains, not brawn.
6、Sound investment
A sound investment needs to meet three conditions:
Keep your money in a safe place, keep your principal, and secure wealth is more important than making money.
Don't invest in what you don't understand, only invest in areas that you understand and are sure of the future.
Long-term investment, once identified a certain industry should stick to it for a long time and do not easily change direction.
