Bodo Schaefer's Principles for Financial Freedom
by Baigalmaa staff
Bodo Schaefer's Principles for Financial Freedom
A person's financial success largely depends on his thoughts and principles in life. Author, businessman and millionaire Bodo Schaefer, a successful businessman who lost everything in bankruptcy at the age of 26, turned himself around at the age of 30, until he was able to live off the interest on his capital, he believes that my thinking led me to the top of my success. Let's share the principles that made him successful.

- Keep 25% of your income in your account. Put the half of the money that comes in more than the income into a separate account. Banks pay very low interest rates and do more than just prevent currency devaluations.
- Save. Just by saving, you can grow your money in a few years. Love money. In particular, extravagance in the early stages of life will not lead to success
- Treat money properly. Love to preserve, not to waste. But not to the extent of limiting consumption. Financial freedom is not achieved without financial planning and restrictions on consumption and expenditure.
- Make financial planning for 7-10 years. Be very clear about what you are trying to achieve. It is important to calculate how much income you will earn in a year, how much you will earn in two years, and how to find it
- Your dreams should be big. Think big. High achievers, think about that boom. You should divide your big dream into small goals and achieve the small goals that will lead to the realization of the big dream
- The principle of your thinking should be like that of a millionaire and a billionaire. Learn to think like a rich man
- Be confident. Likes money and people, confident people. Be confident, even if your work is very bad. / Bodo Schaefer is a man who lost everything, but rose from extreme hardship to become a millionaire in a short time / Self-confidence, as well as faith, optimism, are the main principles of financial success
- Don't be afraid of problems. Learn to see the good side of misfortune. Every goal has a challenge. A person becomes stronger by learning to solve problems. When you fall down, you get stronger.
- Luck is a dance that comes only to those who invite it by their actions.
- If you decide to do something and don't start it within 72 hours, there is an 85% chance you will never do it.
- Are you sure you will get rich? Believe it or not, if you follow these simple principles and rules for managing your personal finances, it is inevitable that you will become rich in 7-10 years.
- 20% of effort will lead to 80% results.
- We are born with the right to be rich, and it does not necessarily depend on being born into a rich family or having a high education. Only the right attitude to money and the desire for perfection depend on the mind
-Keep a record of your success. Every day, you should note 5 things that you think are good from what you do. If there is nothing to mark, write that it was a pleasant day. This is the gratitude you will be grateful for every day.
- Take care of your health. You cannot be successful without being healthy. Wealth does not bring happiness without health.
- Have at least 6 months worth of money. Create it somehow. There are many painful experiences that have been lost because many businessmen do not pay attention to this rule
- To earn a lot of money, you need to have a lot of knowledge. never stop studying, reading and expanding your knowledge.
- Capitalism is a pool full of predatory crocodiles. So don't forget it. The strong will survive. Only the strongest can keep the money and be rich.
- Being rich doesn't mean expensive restaurants, vacations, expensive stores, or losing a lot of money in gambling, but it is the opportunity of a person who loves and protects his money.
- If you think that you are paid for your work, you are mistaken. You are working for that money, and you are your self-worth. If you don't like it, change your job, change your life, change yourself.