• Mandino Tan

Money Rule #7: Secret Account

Updated: May 21, 2020

The next of the rules of money is to have a secret account.

You always have to have a secret account.

What's a secret account?

It's an account no one else - including your spouse, parents, best friend, siblings - knows about.

A secret account is a crisis account and could be cash. It's an account that's sitting somewhere that no one else knows about. I know you may say, "Mandino, you talked about boredom." But this is an entirely different story. You have to have a crisis account that's not your emergency fund.

A secret account is what saved my business when we were going through a difficult time. I got cheated of my money. My bank account went down just to a few hundred bucks, and I still had debt, fees and everything to pay out of it.

The crisis account that I had is what saved me.

No one knew about it.

That money showed up, I put it back into the business, and was able to last through the tough times.

You always need to have a secret crisis account.

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