Over 118 Lessons and Concepts
Chapters 1 & 2
Learning important financial skills can be entertaining
Chapter 3
Take the time to figure out what financial freedom means for you personally
Having a strong financial foundation early in life helps you avoid mistakes many people make later in life
Live below your means
Living below your means doesn’t mean you can’t buy luxurious things
More money is rarely the solution to money problems
Too many people focus on spending less when they should be focused on making more
Learn to get pleasure from saving money
Chapter 4
The secret to becoming wealthy isn’t about how much you make, it’s about how much you save
The difference between income and wealth
You don’t need to make a lot of money to become rich
Calculating net worth
Assets vs. Liabilities
Before taking advice from anyone, make sure they are qualified to have an opinion
Chapter 5
The dangers of debt
The dangers of credit cards
Credit cards aren’t bad but credit card debt is bad
Don’t spend money you don’t have even if you anticipate you will make it
Budgeting is about moderation, not elimination
The importance of a budget
The importance of allocating your paycheck as soon as you get it rather than waiting
Discretionary income
Chapter 6
Needs vs. wants
Giving to charity even when you don’t have a lot of money
Chapter 7
The five steps for going from paycheck-to-paycheck to financially free
Increasing your income takes hard work
The importance of not giving up on your goals
All successful people have made mistakes and failed; failure is not to be feared
The importance of changing your mindset
Breaking the limiting beliefs that are holding you back
You can have fun and be happy doing things that are free
Chapter 8
Stocks vs. bonds
Interest rates
Maturity dates
US Treasury bonds vs. high yield bonds
Issuing debt or equity to raise capital
Why stock prices move
Warren Buffett’s two rules of investing
Shareholder rights
Chapter 9
The dangers of not saving for retirement
Why planning to live on Social Security during retirement is a bad idea
The importance of starting to save early
Don’t take advice from broke people
Inflation
Taxes make it more difficult to achieve your financial goals
Chapter 11
IRA
401(k)s
Pay yourself first
Delaying purchases
Ten Times Test
Don’t think “I can’t afford this,” instead think “how can I afford this?”
Whether you think you can or you can’t, you’re right
Chapter 12
Compound interest
How much you need to save for retirement
Raise the expectations you set for yourself
Chapter 14
Emergency fund
Chapter 15
Taxes and penalties on retirement accounts
Automatic deductions
Company matching contributions
Vesting schedules
Cliff vesting vs. graded vesting
Chapter 16
Visualizing your goals
Six levels of retirement savings
Target date funds
Proactively look for ways to make more money
Chapter 19
Using interest rates to determine your next financial moves
Money can tear people apart
Chapter 20
Asset allocation
Types of stocks and bonds
Types of asset classes
Time horizon
Risk tolerance
Dollar cost averaging
Exchange Traded Funds (ETFs)
Ticker symbol
Chapter 22
For the financially irresponsible, more money often leads to more debt
Steps for getting out of debt
Wealthy people investigate money-making ideas rather than immediately dismissing them as scams and keep trying until they find something that works
Wealthy people have the mindset that they are destined to become rich
Chapter 23
Debt snowball method vs. highest interest rate method
Not letting loans to family and friends ruin relationships
Chapter 24
The dangers of making just the minimum payments
Importance of rewarding yourself along the way
Temporarily cutting expenses drastically and applying savings toward financial goals
Chapter 25
Collateral
Renting versus buying a home
Chapter 26
Private mortgage insurance (PMI)
FHA and Fannie Mae mortgages
Expenses when purchasing a home
Getting as low as a 3% down payment
Buy less home than you can afford
Additional monthly expenses of owners versus renters
Chapter 27
The initial principle balance reduction on mortgages is slow
How interest payments can add up over time
Half payments every two weeks method
Fixed rate versus adjustable rate
Chapter 29
There is more to life than money
The importance of exercising and eating healthy foods
Debt-to-income ratio
Loan-to-value ratio
Consequences of defaulting
Range of credit scores and what a good score is
How to improve your credit score
FICO score
How to check your credit score safely
Experian, Equifax, TransUnion
Chapter 30
Credit report vs. credit score
Checking credit report for errors
Identity theft
How a high credit score can save you money
The consequences of having a low credit score
How credit scores are calculated
And there are even more in the bonus chapter!