New rules of money

You're referring to the "New Rules of Money" by Tony Robbins! These are a set of principles and strategies for managing one's finances and achieving financial freedom. Here's a summary of the 7 new rules:

Rule 1: The Power of Purpose

• Connect your financial goals to your values and passions.
• Create a clear vision of what you want to achieve.

Rule 2: The Power of Awareness

• Track your spending and income to understand where your money is going.
• Identify areas for improvement and make adjustments.

Rule 3: The Power of Prioritization

• Focus on the most important financial goals first.
• Eliminate debt and build an emergency fund.

Rule 4: The Power of Leverage

• Use debt strategically to build wealth (e.g., mortgages, student loans).
• Invest in assets that generate passive income.

Rule 5: The Power of Compound Interest

• Take advantage of compound interest by starting to save and invest early.
• Use tax-advantaged accounts (e.g., 401(k), IRA) to grow your wealth.

Rule 6: The Power of Diversification

• Spread your investments across different asset classes (e.g., stocks, bonds, real estate).
• Reduce risk by diversifying your income streams.

Rule 7: The Power of Consistency

• Make saving and investing a habit by setting up automatic transfers.
• Stay disciplined and patient, even in the face of market volatility.

These rules are designed to help individuals achieve financial freedom by creating a solid foundation for their financial lives. By following these principles, you can build wealth, reduce stress, and achieve your long-term financial goals.