I recently got a question from one of my subscribers who is $15,000 in debt. He asked me for advice on how to get out of debt and cultivate more financial intelligence to prevent things like this.
Personally, I like to think of finances in three different parts. I learned this concept from Grant Cardone and I think it’s beautifully simple.
There’s three parts to mastering your finances.
1) Making money
The first skill you have to master is to make money and create income. The only way to make income when you’re starting out is through selling and marketing. That’s the oxygen of your business.
But even if you have no business, and you work in a regular job, you have to market and sell yourself in order to get and keep your job.
This is the first skill you have to master.
Learn how to sell, solve problems, create value, build trust and rapport, and learn to ask for money without feeling ashamed. Keep increasing your income and start stacking different income streams until you make six figures and hopefully seven figures a year one day.
2) Keeping money
Once you’ve generated multiple streams of income, you need to learn to cultivate financial intelligence and self-control. It’s super hard to make money, and it’s ridiculously easy to spend money.
If you make a lot of money, you need to protect that money. Don’t spend the money on vacations, consumption or premature investments. Try saving up as much money as you can while keeping your expenses at a minimum. Don’t blow your money, live poor.
Set yourself a specific goal like saving up $100,000 or $1,000,000.
And then just work on that goal until you’ve reached it.
3) Multiplying money
Once you have enough money saved up you should start investing in order to multiply your money. See, money inherently looses value over time because of inflation. The only way to stay “rich” is to make money work for you, to compensate for the devaluation of currency.
If you save up $100,000 that won’t be worth much in 10 years.
But if you take that money and invest it into assets that increase in value, you will stay rich and become richer every month.
Make sure you make your money work for you 
🙂
All Posts
Website
