Income Assets LLC on LinkedIn: 2/12/2023 (2024)

✨️This is one of the best personal finance books I ever read.Here are 12 Quotes From the book The Psychology of Money.👇1. "Financial success is not a hard science. It’s a soft skill, where how you behave is more important than what you know."2. "One of the most powerful ways to increase your savings isn’t to raise your income. It’s to raise your humility."3. "To grasp why people bury themselves in debt you don’t need to study interest rates; you need to study the history of greed, insecurity, and optimism."4." Money’s greatest intrinsic value - and this can’t be overstated - is its ability to give you control over your time."5. "Spending money to show people how much money you have is the fastest way to have less money."6. "We all think we know how the world works. But we’ve all only experienced a tiny sliver of it"7. "There are a million ways to get wealthy, and plenty of books on how to do so. But there’s only one way to stay wealthy: some combination of frugality and paranoia."8." No one is impressed with your possessions as much as you are."9. "Wealth is hidden. It’s income not spent. Wealth is an option not yet taken to buy something later. Its value lies in offering you options, flexibility, and growth to one day purchase more stuff than you could right now."10. "There is no reason to risk what you have and need for what you don’t have and don’t need. It’s one of those things that’s as obvious as it is overlooked".11. "Everything has a price, but not all prices appear on labels."12. "Savings can be created by spending less. You can spend less if you desire less. And you will desire less if you care less about what others think of you".Happy Reading 💕By Next-Level Follow me Shiva Bajpai to get more tips.

4

Now it's more important than ever to take an active role in managing your money. Don't equate earning six-figures with the ability to spend six-figures. Fortunately, there are several strategies that may help. Take a look at our latest blog: https://lnkd.in/gd-equSe

2

10 Best Personal Finance Tips for Young Adults

10 Best Personal Finance Tips for Young Adults

Credit Cards: Are They Helping or Hurting Your Finances?Are credit cards a wise choice for personal finance, or should we steer clear of them?Hey LinkedIn community! Today, I want to discuss a topic that's been on my mind lately: credit cards and their impact on personal finance. Personally, I lean towards not using credit cards, as I strongly believe that 50% of successful financial management lies in being debt-free.For me, being debt-free is a crucial goal in managing personal finances. It's essential to resist the temptation to rely on credit cards and instead focus on living within our means.I've noticed that credit card users often find it challenging to invest a significant portion of their salaries, often limited to 20-30% of their earnings. In contrast, prudent savers, who prioritize financial stability, can invest a more substantial 40-50% of their income.In my opinion, credit cards and loans are best suited for those who genuinely don't need them. People with strong financial discipline and a sound understanding of how to manage credit responsibly can benefit from the convenience and rewards offered by credit cards.In conclusion, I firmly believe that avoiding credit card usage is a step towards financial freedom. Remember, personal finance is a journey, and making informed choices along the way can lead us to financial success.Share your thoughts in the comments below. Have credit cards worked well for you, or do you prefer a debt-free approach too? Let's learn from each other's experiences! 🤝#PersonalFinance #CreditCards #DebtFreeLiving #FinancialDiscipline #InvestmentHabits #FinancialFreedom

6

10 Best Personal Finance Tips for Young Adults

10 Best Personal Finance Tips for Young Adults

10 Best Personal Finance Tips for Young Adults

10 Best Personal Finance Tips for Young Adults

10 Best Personal Finance Tips for Young Adults