Law 7: Diligence and Contingency: Plan and prepare your wealth and success.

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If you want to be wealthy and successful you must plan and prepare for them.

Your due diligence, especially in the areas of career, finance and investment, will make you ready for all situations: expected and unexpected.

Don’t leave anything to chance: budget your daily, weekly, monthly and annually expenses. Make them not more than 70% of your earnings. Save some of the rest and never touch it. Save more for unplanned expenses, especially in accounts which pay you the highest interests. Find out how much tax free cash you can save each year. Determine which instruments [stocks, bonds, property] to invest in and how much for each. Estimate how much risk investment you can afford. In this regard, you must learn to differentiate investing from gambling and grasp risk assessment.

Everybody have their own agenda. So learn to know people’s wants and needs. This will help you not to rile them but rather strike mutually beneficial deals with them.

Don’t fail to check every word of a contract or agreement, even if they are in small print. Don’t be regular customer of banks, insurance companies and stores. Carefully check what interest rates you are being charged and what fees you are paying (especially when borrowing) and don’t hesitate to negotiate and shop around for a better deal. Don’t let fear nor politeness make you accept the first figure laid before you nor a deal you aren’t comfortable with.

Apply Law 21 to any financial advice or investment help you get and pay for it. Don’t entrust your money to just anyone. Find the best managers and do everything to keep them.

Listen to your best bets: the very rich, those very successful in endeavours you wish to undertake, and people who have the skills and knowledge that you need.


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