Rule 29: You Have to Got to Have a Plan

Why are a fool and his money so easily parted? Because the fool doesn’t have a plan. If you don’t have a plan you’ll be tempted to tolerate or ignore leaks in your cashflow, spending it instead of freeing yourself. If you have a plan, you know exactly what does and what doesn’t fit into it.

Rule 9 helped you work out where you are now, and you already know where you’re going. Your plan gives you the important bit, how you are going to get there.

If you have a job you love and are happy, then you’ll probably want to stick with it. If it doesn’t make you enough money, you need your plan includes a way to generate additional income. If your job is making you miserable and keeping you in a poverty trap, then your plan must prioritize getting out of it.

Your plan should involve taking financial control of your life. If you have debts, it will definitely include tackling these as a priority; the same goes for any spending problems. The plan might involve a career change, investigating a business idea, or investing money. It may well include selling things. A lot of money is generated through selling things, whether it’s a product, a service, or your time and skills. In fact, one of the fundamental truths about getting wealthy is that wealth comes from creating deals, not from trading your labor for wages, salaries, or fees.

A good plan today is better than a perfect plan tomorrow.

General Patton

Whatever the plan includes, just make sure you have one, and that you stick to it. Don’t worry, we’ll go over lots of ideas that will enhance your plan. Just remember: Never sit back and wait for somebody to give you money—ever.