What they didn't teach at school

Updated: Aug 6, 2020

The 4 piece puzzle for creating lasting wealth


Maybe they don't teach us about money at school because it's boring.

Or maybe it's because teachers don't know anything about money themselves?

Maybe schools have no easy way of adding anything new to the curriculum...

Or maybe schools don't want to risk giving advice in case it turns out to be wrong? 

Whatever the reason, it does not matter.


You're here, and that means you're ready to take your finances into your own hands. 

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Your finances are your responsibility - just like the rest of your life.

No one is coming to save you, so you will have to be your own superhero.

The core principles to becoming wealthy are simple, in the same way that the core principles of becoming healthy are simple - be active and eat well.


(But just as there is no shortage of unhealthy people, there is no shortage of people backing themselves into a corner financially every day through poor decisions.)

These are the 4 key pillars for creating wealth that they don't teach you at school:

  1. Build - Get a job, negotiate salary, get a side job

  2. Reduce - Negotiate bills, only spend on what you love, live minimally, cancel subscriptions, take care of what you own

  3. Invest - Invest in yourself, start your own company, invest in other assets

  4. Gamble - Throw a small but not insignificant % of your income into high risk/reward possibilities

If you get familiar these habits in your 20s and 30s, you will build wealth over the course of your lifetime.

1. Build

Building takes work.


The bulk of most people's building is done by their main salary, but it doesn't have to stop there.


You can negotiate a pay rise, move companies, re-train and secure a higher paying job, add a second job, add a side business, start selling stuff online, the list goes on.


The money you have coming in each month is the fuel which will keep your wealth building engine running.


2. Reduce


Telling people to reduce their spending is normally met with an eye roll.


It's true, there's only so much cutting you can do until there's nothing left.


We're not talking about becoming a miser who scrimps and saves every last penny, leaving no room to enjoy life.


But that round your friend pressured you into buying at the bar when you were already thinking of going home?


Those new trainers you bought to impress your mates?


That's what we're talking about.


Ruthlessly cut out the things that don't mean anything to you.


Pay off all of your consumer debt, and become more free.

Think about what you truly love to spend money on.


Focus your spending on that - don't throw away that which you've worked hard for.


Start thinking long-term with everything.


Stop buying new things you don't need.


3. Invest


Lots of people choose to spend their money on freedom.

When you invest you're buying a day that you don't have to work in the future.


First and foremost, invest in yourself.


Invest in your own ideas and development - who knows what the return on that might be? (Your own business, a new job, a new career, a new partner?)


Then, invest in successful companies - tie your fate to the fate of the biggest and most profitable businesses in the world.


Own a stake in businesses you believe in.


4. Gamble


We're not talking about fruit machines.


In a pragmatic and calculated way, take risks.


Gamble on yourself and your own ideas, as mentioned above.


Put a small but not insignificant percentage of your money (e.g. 10%) into high risk, high reward assets.


Things like cryptocurrency, individual stocks, small businesses, start-ups, your friend's business, artwork.


By putting a small amount of your money into these things, you expose yourself to the possibility of a huge win.


This isn't for everyone, but if you don't buy a ticket - you'll never win the raffle.




The Money University

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