{"id":11977,"date":"2018-01-11T08:00:50","date_gmt":"2018-01-11T14:00:50","guid":{"rendered":"http:\/\/www.coolchecks.net\/blog\/?p=11977"},"modified":"2018-01-10T16:02:29","modified_gmt":"2018-01-10T22:02:29","slug":"david-bach-has-financial-answers","status":"publish","type":"post","link":"https:\/\/www.coolchecks.net\/blog\/managing-money\/david-bach-has-financial-answers.html","title":{"rendered":"David Bach Has Financial Answers"},"content":{"rendered":"

\"David<\/a>
Bach crystallizes his philosophy by saying \u201cWhen your values are clear, your financial decisions become easy”<\/figcaption><\/figure>When it comes to giving sound answers to personal finance questions posed by the American public, no one does it better than David Bach.<\/p>\n

His best-selling \u201cThe Automatic Millionaire\u201d was on the New York Times\u2019 best-seller list for an unprecedented 31 weeks for a book on that topic. Over the past decades, he has written nine consecutive New York Times best-sellers that have been translated into 19 languages. He is the only business author to have four books simultaneously on the NYT, Wall Street Journal, BusinessWeek and US Today best-seller lists. His seminars and appearances on top media shows have made him familiar to those who are looking for guidance in their personal finances. More than a hundred million Americans have been exposed to his no-nonsense approach to improving finances. <\/p>\n

For simplicity, he boils his advice down into 15 \u201ctimeless truths.\u201d To wit:<\/p>\n

\u2022\tAlways spend less than you make. Life will be easier and less stressful.<\/p>\n

\u2022\tAutomate your financial life, rather than wasting time budgeting. Budgeting causes frustration and failure, he believes. Automation relieves the stress.<\/p>\n

\u2022\tBe an investor rather than a borrower. Investors get rich. Borrowers stay poor.<\/p>\n

\u2022\tBuy a house. Don\u2019t rent. Homeowners and landlords make money and build wealth. Renters stay poor.<\/p>\n

\u2022\tDon\u2019t lend money to family or friends. You\u2019re not a bank and you could lose both the money and the relationship.<\/p>\n

\u2022\tNever invest in things you don\u2019t understand. If a potential investment cannot be explained to you on one piece of paper, it\u2019s too complicated.<\/p>\n

\u2022\tInvest for the long term. Building wealth takes decades, not days.<\/p>\n

\u2022\tNever invest on margin. Leverage kills you when things go wrong.<\/p>\n

\u2022\tNever assume that \u201cthings are different this time.\u201d Things work until they don\u2019t work. Never bet the farm. You could lose it.<\/p>\n

\u2022\tOnce you become rich, stay rich. It beats starting over again. Talk to those who have been in this position and they\u2019ll attest to that truth.<\/p>\n

\u2022\tGive back. The more you give, the more you will grow, and you make the world a better place. (Bach is known for his charitable contributions.)<\/p>\n

\u2022\tNever give up. No matter how many times you fail, you haven\u2019t lost as long as you get up and try again.<\/p>\n

\u2022\tCompound interest is a miracle that works when you work it. Save $10 per day at 10 percent interest and in 40 years, you\u2019ll have $1,897,233. If the interest is only half that, you\u2019ll still have near a half million dollars, a considerable amount. Your older self will thank you.<\/p>\n

A bottom-line quote from Bach crystallizes his philosophy: \u201cWhen your values are clear, your financial decisions become easy.”<\/p>\n","protected":false},"excerpt":{"rendered":"

When it comes to giving sound answers to personal finance questions posed by the American public, no one does it better than David Bach. His best-selling \u201cThe Automatic Millionaire\u201d was on the New York Times\u2019 best-seller list for an unprecedented 31 weeks for a book on that topic. Over the past decades, he has written […]<\/p>\n","protected":false},"author":53,"featured_media":11980,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[561,557,478,20,69,718],"tags":[],"_links":{"self":[{"href":"https:\/\/www.coolchecks.net\/blog\/wp-json\/wp\/v2\/posts\/11977"}],"collection":[{"href":"https:\/\/www.coolchecks.net\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.coolchecks.net\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.coolchecks.net\/blog\/wp-json\/wp\/v2\/users\/53"}],"replies":[{"embeddable":true,"href":"https:\/\/www.coolchecks.net\/blog\/wp-json\/wp\/v2\/comments?post=11977"}],"version-history":[{"count":3,"href":"https:\/\/www.coolchecks.net\/blog\/wp-json\/wp\/v2\/posts\/11977\/revisions"}],"predecessor-version":[{"id":11981,"href":"https:\/\/www.coolchecks.net\/blog\/wp-json\/wp\/v2\/posts\/11977\/revisions\/11981"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.coolchecks.net\/blog\/wp-json\/wp\/v2\/media\/11980"}],"wp:attachment":[{"href":"https:\/\/www.coolchecks.net\/blog\/wp-json\/wp\/v2\/media?parent=11977"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.coolchecks.net\/blog\/wp-json\/wp\/v2\/categories?post=11977"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.coolchecks.net\/blog\/wp-json\/wp\/v2\/tags?post=11977"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}