Law 30: Be Financially Literate: That is, speak and understand the language of money.

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To be rich you must master the language of money.

What this means is that you must be able to read a balance sheet and understand it; you must know the difference between margin and profit, the lifetime values of your clients, your net worth (watch whether it is going up year on year or down), your time worth on an hourly basis, the total running costs to your business, sensitivity analysis, and the difference between an asset and a liability.

You must carefully choose the books and publications you read, the websites you visit, your homepage and the people you spend the most time with.

For the more you’re fluent in the language of finance, the better you will be at it and the wealthier you will become.

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