The 5 Principles of Financial Grit

Key Takeaways

  • When it comes to success in life, research shows grit is even more important than talent or intelligence is.
  • People with financial grit have a clear understanding of the value they deliver to those who pay them.
  • Financially gritty people also commit to lifelong learning, bounce back from money setbacks, always focus on their ultimate purpose and make tough decisions.

To Buy or Lease a New Car

Key Takeaways

  • Leasing limits your mileage, but you don’t tie up cash, you drive a late-model car, repairs are limited, and you don’t have to sell.
  • Buy if you’re looking at used vehicles that you plan to drive for three-plus years and you don’t expect major lifestyle changes.

Singular Focus, Singular Result

Key Takeaways

  • Like some inventions, financial products that try to do too many things at once often don’t do any of them well.
  • The words “growth” and “guarantee” rarely go together.
  • Look for products and services that are simple and easy to understand and that offer a high probability of success based on a track record.

The Wealthy Mindset

Key Takeaways

  • You may have money and some wealth, but that doesn’t mean you have a wealthy mindset.
  • It’s very important to surround yourself with the right people, resources, money and capabilities.
  • The Coyle Personal Wealth Assessment will help you see how you’re doing in eight key areas of your financial life.