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TRUMP UNIVERSITY WEALTH BUILDING 101

My money system is flexible enough to allow for any of life’s surprises,

but tight enough to warn you of potential problems before they get out of

control. There are five steps, and in this order:

1. Automatic investment.
2. Debt elimination.
3. Charitable giving.
4. Debt avoidance strategies.
5. Life money.

In Chapters 8 and 9 , I go into specific, step-by-step detail about my
Automatic Money System and how it can work for you.

Become Financially Responsible

This practice is really quite simple to achieve. Use your common sense, and
follow the Seven Practices of the Rich you learned in this chapter. Keep them
at the forefront of your mind and use them in your day-to-day money

decisions. You now have a financial advantage over most people: a simple
process to follow to accumulate wealth and put your money to work for you.
Ignoring this information, or pushing it aside, will rob you of the fi nancial
power you just gained.

Live Debt-Free

Living debt-free consists of sticking to two practices: never use consumer
credit on the lender’s terms, and always add 10 percent of your gross income
to your minimum monthly debt payments. We’ll talk about this practice in
detail in Chapter 8 , Go on a Debt Diet , but I want to stress that uncontrolled
consumer credit can destroy your efforts to build wealth if you aren’t
careful.
You must learn to use consumer credit on your own terms, not those the
lender imposes. How? Adopt a lifestyle that avoids debt. I’m not asking you
to adopt a poverty-level lifestyle. I don’t want you to lower your standard of
living; in fact, I want you to increase your standard of living. As you do, you’ll
be able to own all the nice things you want, but you’ll pay for them on a cash
basis, not on a perpetual debt basis.

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