In this video, I’ll show 11 Money management tips and the best apps to help you with them.

Different people define success differently all across the world. But, one of the most common factors associated with success is wealth because of how hard it is to live a fulfilling life without at least a fair amount of money.

The problem is, many of us aren’t taught how to manage the money properly when we attain it. This is why you see even multimillionaire athletes, actors, musicians, and lottery winners go broke.

I’m going to give you some of the best tips for managing money efficiently that I’ve learned from reading, studying successful people, and personal experience.

Many of the apps I show you will help you automate it as well.

Enjoy the video and let me know what you think in the comments below!

Here are the top tips and apps to use:

1. Have a budget

Use an app to keep track of it and give reminders.

Helpful resources:

• Mint
• Level Money
• Digit

2. Start investing ASAP for the long term

Invest 10-15% of your income if possible. You need about 25-28x your yearly expenses in investments to live off dividends and retire early. Consult your investment adviser.

Helpful resources:

• MONEY: Master the Game book
• How to get rich starting from zero
• How to invest to retire early
• Betterment
• Wealthfront
• Vanguard

3. Avoid debt at all costs

Helpful resources:

• Mark Cuban’s advice on debt and money
• Guide to getting debt free
• iPhone apps for reducing debt

4. Get efficient with your taxes

Helpful resources:

• The Tax and Legal Playbook book
• How to choose a CPA

5. Automate as much as possible

Helpful resources:

• Vanguard investment automation
• Acorns automatic investing app

6. Eliminate as much as possible

Image credit: scotttousley.com

Helpful resources:

• The minimalist lifestyle and how to let go
• Fiverr
• UpWork

7. Live below your means

Helpful resources:

• How Warren Buffett lives frugally
• Tony Robbins’ gratitude-building morning ritual

8. Use the 80/20 rule

Find the 20% of expenses that bring you 80% of your joy. Do the same for income, stress, etc. to improve your life.

Helpful resources:

• The Pareto Principle
• The 4-Hour Workweek book

9. Use money-back programs

Use them for as many purchases as possible to get some money you spent back.

Helpful resources:

• Ebates
• Ibotta – Use this referral code at signup and get your $10 signup bonus: hbabpjp

10. Think about prevention more than most people

Have at least 6 months of income in reserve in case something happens, keep yourself healthy, etc.

Helpful resources:

• The Paleo Diet
• What to do about a rainy-day fund
• Preventative healthcare information
• Only the Paranoid Survive book

11. Diversify your income

What happens if you lose your job, the market is down a few years, or your business tanks?

Helpful resources:

• YouTube playlist with dozens of ways to make money online

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