10 best money advices from famed business strategist Tony Robbins
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Feb 6, 2017, 15:36 IST
1. Don’t sabotage your financial success
Tony Robbins says many people self-sabotage their finances that deviates them from achieving their financial goals. In one of the videos, he says write down about positive things money offers. This will motivate you to change your mindset.
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2. Be proactive
You have to be proactive while saving money. It is important to master this habit. He says learn to create a budget and stick to it. Take control of your finances.
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3. Diversify your portfolio
Of course, we all believe in diversification our finances and not parking it at one place. But, while doing this, you have to be cautious about your selection of stocks and bonds. Look to invest in low-fee index funds to maximise broadest exposure.
4. Be an investor
This will take you to your financial goals faster. Make investment a habit, regardless of the amount. Cut your expenses wherever you can and invest.
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5. Cut down on your mindless spending
Splurging on things you don't need can quickly drain your savings. Plan your expenses carefully.
6. Results matter
Tony Robbins is not a fan of to-do lists. He says, “The biggest problem with to-do lists is that focusing only on what you need to get done does not guarantee that you're actually making any real progress. Figure out what you want, focus all of your activities on making progress toward that result,” he said.
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7. Select a role model
Follow someone who had similar financial goals as you have now and has already achieved that goal. Get aware about their set of strategies and follow it. Sometimes, you don't need to reinvent the wheel.
8. Create a business map
Keep pace with changing strategies, plans, markets and economy and have a business map, which will take you from where you are to where you want to be.
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9. Observe what works, what doesn’t
Tony Robbins says one should examine what they want in life. "Notice what's working and what's not working. And when it's not working, change your approach. And keep changing until you finally achieve what it is you're committed to," he said.
10. Be happy with your progress
You have to be progressive and be happy in it. You can’t just think about saving money, you have to act on it.
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