Rapid Intake Summaries: The Millionaire Booklet | Chap 7 Step Five Stay Broke

Chap 7: Step Five Stay Broke

*These are just my thoughts and summary, all in my own words regarding this topic so I may omit some information that was taught in this book or course.

In this chapter Grant says that as soon as you start increasing your income, you have to put most, if not all of your surplus money away to a place where you can't easily touch it because as the saying goes that "money doesn't sleep" and as Grant thinks that money gets bored.

By doing this, you allow yourself to become motivated to keeping on working towards your goals and not be tempted to lavishly spend it on stupid things so that you can reserve and grow this extra money for future investments that would create more passive income flows.

Grant notices that wealthy people as with himself, work like they're broke while others sleep like they're rich because he also realizes that ideas are nothing with out hard work, but with disciplined time and energy consistently put into the idea, it always produces successful results.

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*These are just my thoughts and summary, all in my own words regarding this topic so I may omit some information that was taught in this book or course.

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Rapid Intake Summaries: The Millionaire Booklet

Chap 1: Getting Rich Is Not A Fantasy
Chap 2: Where You Get Your Advice
Chap 3: Step One The Millionaire Decision
Chap 4: Step Two Millionaire Math
Chap 5: Step Three Increase Income
Chap 6: Step Four Who's Got My Money?
Chap 7: Step Five Stay Broke
Chap 8: Step Six Save To Invest, Don't Save To Save
Chap 9: Step Seven Multiple Flows Of Income
Chap 10: Step Eight Repeat, Reinforce, and Hyper Focus ​