My Favorite Money Rules from Ramit Sethi
Ramit Sethi put together some money rules that may be especially helpful to real estate investors.
- Always have one year of cash available in your emergency fund.
- Save 10% and invest 20% minimum of your gross income.
- Pay cash for all large expenses.
- Put down a large lump sum when you buy your first house.
- Don't limit spending when it comes to education, health or personal training.
- Buy high-quality products so you can use them a long time.
- Earn enough to be able to only work with people you like and respect.