Hi, and welcome to our third lesson in our course, this core lesson is about your personal finances and how to control your money and not let money control you. I like to start off as usual, our quote of the day, which is personal finance is 80% behavior and 20% knowledge. What does that mean? It means that you don't really need to know the details the fundamentals necessarily a finance per se. However, you just need to know a few basics on how to behave, what to do in certain situations, so that your money grows. This core lesson is going to start out as usual with our introduction and mystery question.

Then we'll move on to why learn money management and why learn about how to control your personal finances. Next, we'll go on to personal budgeting. We'll talk about the core basics about how to budget and I'll provide you a budget Excel spreadsheet. So you can start the process and get a feel on how to actually create and use a budget for yourself. Then we'll talk about savings, your options for savings and what strategy maybe you should take, which is, of course, up to you. Then we'll go into what I like to call an investing eye opener.

And as you might know, an eye opener is something that gets you interested in, maybe there's a little bit of a wow factor, something that you didn't know, hopefully something that will maybe motivate you to start saving and perhaps investing. And finally, we'll wrap things up with the mystery question answer. So, I'd like to begin by introducing you to a pretty famous book. It's called The Richest Man in Babylon. And if you look up here in the top left hand corner, here, it says more than 2 million books sold that should give you an idea of the success of this particular book. And what I love about this book is that this book covers a series of short stories that take place in and around the city of Babylon, the ancient city of Babylon, which is considered the richest city in biblical history.

The book teaches straightforward lessons that attempt to show that the secrets of wealth building are unchanging, and remains still applicable today, even though they were once used in history. While none of the concepts are likely to be earth shattering for you, they do encapsulate the fundamentals that are the basics to money management and personal finance. So the question that I want to ask you is, what do you think are some of the best ways to build your wealth? And what are you doing now? or what have you been doing to control your personal assets, your personal income and build wealth for the future? One of the most interesting sections of this book talks about what are considered the future By rules of gold, and we'll get into all five of these at the end of this core lesson.

But I want to start by introducing rule number one, which is called pay yourself first. And I'm curious, can you guess what pay yourself first means? Keep that in mind as we go throughout the lesson, try to answer that question as we progress. And you'll notice around the midsection of this core lesson, I'll bring up the first rule of pay yourself first and explain what it actually is. Keep in mind, what could pay yourself first actually mean? And do you think you've done that or are doing it and what do you think might be the other four rules of gold?

Okay, with that in mind, let's go ahead and go on to the next section. Why should you be interested in personal finances and money management