1. Track Every Dollar You Spend

The first step in controlling your money? Know where it’s going.

Review last month’s bank, credit card, and debit card statements. Categorize your spending into four main buckets: housing, automobile, eating, and everything else. This simple act opens your eyes to leaks in your financial pipeline.

Build a personal financial statement that tracks:

• Total income
• Fixed and variable expenses
• Savings rate
• Investment contributions
• Charitable giving

Awareness is the first step to change.

2. Build a Simple System That Works Automatically

Great finances don’t require great willpower they require systems. We recommend setting up three separate bank accounts:

• One for spending
• One for investing
• One for savings

Then apply the 75-15-10 rule:

• Spend 75% of your income on needs and wants
• Invest 15% for future growth
• Save 10% for emergencies and near-term goals

Automate these transfers the way your job automates tax deductions. That way, you don’t even have to think about it.

3. Make Your Money Work Harder Than You Do

Saving is not enough. If your money isn’t growing, it’s shrinking in real terms.

The key to building lasting wealth is to invest in assets that generate cash flow. It’s about moving from working for money to having your money work for you.

Focus on:

• Dividend-paying ETFs: These funds pay quarterly income and can be reinvested to maximize long-term returns.
• Rental real estate: With the right property, tenants cover the costs, and the profit goes to you.

Every dollar you invest today has the potential to create dollars tomorrow. That’s how wealth is built.

4. Invest for Cash Flow, Not Just Net Worth

You can’t pay bills with your net worth—but you can with income from cash-flowing investments.

Real estate creates monthly income through rents. Dividend ETFs give quarterly payouts. Reinvesting these earnings compounds your returns over time, creating a snowball effect.

That’s the mindset shift: don’t just buy assets buy income.

5. Commit to a Decade of Sacrifice

True wealth doesn’t show up overnight. The speaker introduced the concept of a decade of discipline.

• Spend less.
• Earn more.
• Invest consistently.

In the first few years, progress feels slow. But by year four, you’ll see momentum. By year ten, your financial reality could be unrecognizable.

Just like building a strong body requires time at the gym, building wealth requires time in the market and habits that don’t break when life gets uncomfortable.

6. Know the Risks—But Don’t Be Paralyzed by Them

All investments carry risk. That’s the game. But smart investors educate themselves, conduct due diligence, and plan for the long term.

Don’t follow every TikTok finance “guru” or gamble on the hottest crypto. Build a strategy aligned with your risk tolerance and goals.

Losses will happen. But over time, discipline and informed decisions win.

7. Stay Educated and Ahead of the Curve

Staying informed is half the battle. That’s why the speaker promoted Market Briefs, a free daily newsletter covering the economy, stocks, housing, crypto, and global trends.

It’s a great way to understand market signals and spot opportunities early. Subscribers also get access to an investing master class to sharpen their skills and uncover new strategies.

Final Thoughts

Wealth doesn’t come from guessing. It comes from knowing, systematizing, and investing consistently over time. If you:

• Track your money,
• Create a system that works,
• Put your money to work in income-producing assets, and
• Stay disciplined for a decade…

You won’t just have a better bank account—you’ll have a better life.

Jaspreet Singh is not a licensed financial advisor. He is a licensed attorney, but he is not providing you with legal advice in this article. This article, the topics discussed, and ideas presented are Jaspreet’s opinions and presented for entertainment purposes only. The information presented should not be construed as financial or legal advice. Always do your own due diligence.

The post A Step-by-Step Guide to Managing Money and Building Wealth appeared first on ROI TV.

Assets vs. Liabilities: My Financial Wake-Up Call

Here’s how I break it down: assets put money into my pocket. Liabilities take money out. That means things like dividend-paying ETFs, rental properties, and stocks are assets—they generate income for me on a regular basis. On the flip side, luxury cars, designer clothes, and expensive vacations? They’re liabilities. They might make me look rich, but they drain my wallet.

Early on, I was guilty of chasing that “rich” lifestyle—buying things to impress others. But it wasn’t sustainable, and it certainly wasn’t helping me build wealth. Now, I focus on buying assets first and letting those assets eventually fund my lifestyle. That’s how real wealth is built.

Active vs. Passive Investing: Choosing My Lane

Over time, I’ve learned that not all investing is created equal. Some people thrive with active investing—digging into individual stocks, flipping houses, or running businesses. It takes time, effort, and a high tolerance for risk, but the potential rewards can be big.

For me, I’ve leaned more into passive investing. I prefer putting my money into low-maintenance investments like index funds, ETFs, or even real estate syndicates. These “set it and forget it” strategies don’t require me to constantly watch the market, and they still provide solid returns over time.

How I Get Paid from My Investments

There are two ways I get paid: cash flow and appreciation. Cash flow is that sweet, regular income I get from dividends or rental properties. It’s money I can actually use without selling the asset. Appreciation, on the other hand, comes from buying something and waiting for it to go up in value—like when a stock or home increases in price.

I like to combine both strategies. I hold dividend-paying ETFs that pay me quarterly, and I have long-term investments that I’m confident will grow in value. That balance gives me steady income and long-term growth.

Picking the Right Strategy for Me

I’ve realized that choosing the right investment strategy is personal. It depends on how much time I want to spend, my comfort with risk, and how involved I want to be. For example, if I have $100 and not much time, I can throw it into a low-cost ETF and automate monthly contributions. If I have more capital and time, I might explore real estate or private business deals.

The key for me has been to start small, learn as I go, and diversify over time. I didn’t try to master everything at once.

Making My Investments Work Automatically

One of the smartest things I ever did was automate my investing. I use platforms like M1 Finance to make regular contributions through dollar-cost averaging. That way, I invest consistently whether the market is up or down, and I don’t get stuck trying to time anything.

If you’re more into active investing, that’s fine too—but do your homework. I’ve learned to research financial statements, understand economic trends, and study the locations of any properties I’m considering. Real estate especially requires knowing where people are moving and why.

I Never Stop Learning

If there’s one habit that’s accelerated my financial growth, it’s financial education. I read books, take courses, and follow people who know more than I do. Every time I level up my knowledge, my investing gets smarter—and more profitable.

Education isn’t optional in this game. It’s the edge that helps me make better decisions and avoid costly mistakes.

My Goal: Financial Freedom, Not Just Looking Rich

At the end of the day, everything I do financially comes down to this: I want my investments to generate enough income to cover my lifestyle. That’s what financial independence means to me—freedom from needing a paycheck, freedom to live on my own terms.

To get there, I diversify. I’ve got money in the stock market, real estate, and some alternative investments. I don’t chase trends—I focus on building income streams that can weather any storm.

And most importantly, I’m in it for the long haul. I know that consistent investing over time will get me where I want to go.

Jaspreet Singh is not a licensed financial advisor. He is a licensed attorney, but he is not providing you with legal advice in this article. This article, the topics discussed, and ideas presented are Jaspreet’s opinions and presented for entertainment purposes only. The information presented should not be construed as financial or legal advice. Always do your own due diligence.

The post How I’m Building Wealth by Focusing on Assets, Not Liabilities appeared first on ROI TV.