WHAT IS THE BEST FINANCIAL ADVICE I HAVE EVER RECEIVED ON SAVING MONEY AND BUILDING WEALTH?

  1. Spend less than you earn. Invest the surplus properly.
  2. Invest money, don’t save it. If saving money was such a good idea how come the bank can make money from your savings?
  3. Take calculated risks. There is no such thing as no risk in life, business or investing.
  4. Get a job first, get good at it, then start your own thing. Not the other way around.
  5. Even if you have a job, don’t just focus on selling your time for money. How you use your time from 18:00-midnight is key.
  6. Read as much as possible, and educate yourself as much as possible. University isn’t the end of the learning process. It is the start.
  7. Always adapt to changing market conditions in business
  8. Invest for decades in the stock and bond markets, without market timing.
  9. Ideas don’t count. Execution does.
  10. You can’t scale face-to-face in business. The internet is a golden opportunity and more business will go online (said after 2010).
  11. Get out of your comfort zone. Seldom does anything good come from it.
  12. Don’t be complacent if you achieve success
  13. Break norms. Norms stand for normal. Normal behaviour in business will result in normal results. Extraordinary behaviours will lead to extradorinaiy results if you are persistent
  14. Play the numbers game. In the same way you are more likely to meet the love of your life if you go on 1,000 dates and get Tinder unlimited and put on auto like, you are more likely to get traction in business and any domain if you know this concept. Money follows attention.
  15. Don’t care about what the vast majority of people think.
  16. Don’t box yourself in too soon with kids, family, mortgages etc. The time to take the most risks is in your 20s or before you have kids. You won’t regret losing 2k when you are 80. Don’t be afraid of losing when you have so little to begin with as a 21 year old (I was told this many times but older people many years ago).
  17. Being middle of the road in business can be dangerous. The quote below has been said in different contexts:

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Owner at adamfayed.com.

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Adam Fayed

Adam Fayed

Owner at adamfayed.com.

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