Bodo Schäfer — Principles of Wealth
Principle #1 — Save 25% of your income and 50% of any extra earnings.
Open a separate account and invest those funds. Banks only help preserve your money from inflation — they won’t make you rich.
Principle #2 — Be frugal.
Only by saving and investing consistently can you become a millionaire within a few years. A lavish lifestyle rarely leads to prosperity at the beginning of the journey.
Principle #3 — Respect your money.
Love your money — not by obsessing over spending it, but by protecting it. No one says you must deny yourself all pleasures, but learn to value what you earn.
Principle #4 — Create a 7–10 year financial plan.
Define what you want to achieve and how much you aim to earn in one, two, or ten years. Identify the specific steps you’ll take to reach those goals.
Principle #5 — Dream big.
Think on a grand scale — dream of billions, success, and impact. Break big dreams into smaller, achievable goals, and move toward them consistently.
Principle #6 — Think like a millionaire.
Train your mindset to operate in the categories of the wealthy. Your thoughts shape your reality.
Principle #7 — Believe in yourself.
Confidence attracts both people and money. Stay sure of your success even during setbacks. Remember — Bodo Schäfer went bankrupt at 26 but rose again to become a millionaire.
Principle #8 — Don’t fear problems.
Welcome challenges and failures — they make you stronger. Big goals naturally bring big obstacles.
Principle #9 — When you fall and rise again, you become stronger.
Each setback is training for greater success.
Principle #10 — Financial freedom requires discipline.
True wealth is impossible without budgeting and self-imposed financial limits. Freedom grows through responsibility.
Principle #11 — Luck dances only with those who invite it.
Principle #12 — The 72-hour rule.
If you don’t act on an idea within 72 hours, there’s an 85% chance you’ll never do it.
Principle #13 — Wealth follows discipline, not belief.
You don’t need blind faith to get rich — just follow simple financial principles consistently, and within 7–10 years, you’ll see results.
Principle #14 — The 20/80 Rule (Pareto Principle).
Only 20% of your efforts bring 80% of results. Focus on what truly matters.
Principle #15 — Wealth is your birthright.
You don’t need to be born rich or highly educated — you just need the right mindset and relationship with money.
Principle #16 — Confidence and positivity.
Keep a success journal. Write down five things you did well each day, or things you’re grateful for. Gratitude fuels growth.
Principle #17 — Take care of your health.
Success means nothing without good health. True wealth includes physical and mental well-being.
Principle #18 — Maintain a six-month financial cushion.
Always have savings to cover at least six months of expenses — even successful entrepreneurs must respect this rule.
Principle #19 — Keep learning.
Knowledge builds income. Read, study, and expand your worldview — luck alone won’t make you rich.
Principle #20 — Capitalism is a pool full of crocodiles.
Only the strong survive and thrive financially. Be prepared and stay sharp.
Principle #21 — Wealth isn’t what you spend — it’s what you keep.
Real wealth is the money you save and grow, not the amount you spend on luxury.
Principle #22 — You earn exactly what you’re worth.
If you’re unhappy with your income, change yourself — your skills, mindset, or job — until you match the value you desire.
Title: Bodo Schäfer’s 22 Principles of Wealth: How to Build Financial Freed
