I've been really thinking / reading / watching lectures lately, and I've kind of come up with a different way to look at things.
Instead of thinking about money as something that you spend, think of money in terms of income-over-time. So, you could say you make 6k/month or $200/day or whatever. Now, try to do the same thing with your bills and debt -- for example, you have $60/mo on a chase card or $100/mo for a cell phone.
Now, here's my 'trick' -- try to do / buy things that boost your daily/monthly income. This might not sound like much of a trick as it is a no-brainer, but it seems like most people focus on shit that just increases their money, not their money-over-time. If you get hired to do something, or rob a bank, or win the lottery -- you're getting money. Generally though, it's money-over-time that gets you rich, because money is always spent over time.
And if your wondering why I'm posting this here, it's because I know there are a few people on here that will come into 5, 10, 20k+ paydays, and probably buy shit like cars and houses and what-not. Nothing wrong with that, but maybe also look at doing something like starting a business, buying a business, buying real-estate, hard-money lending (high-profit, low risk loans people use to purchase real-estate -- the loan is secured solely by the down-payment, which is like 40-50% of the loan), ect. Whats really cool is that for certain things (business purchases, real estate purchases, ect) you can get loans with pretty decent terms -- $10,000 might not sound like much to invest, but if you can turn it into a $100,000 rental property with a $90,000 mortgage, it's not so bad. Maybe you pay $800/mo for it and get $1,200/mo in rent -- now your making an extra $300 mo, have an asset and a tax write-off. (there is also the weird fact that rent adjusts to inflation while the mortgage payment is fixed -- if you hold the property for 20 years, the rent might be up to $2,200/mo, but the $800/mo will only increase a little bit, for property tax and insurance)
Guess the biggest thing is just be careful how you spend your money or you'll never have any. 200 million-dollar lottery winners end up broke, factory-workers end up millionaires, some of us will probably end up in jail, but hopefully a few will get what they can, while they can, and turn it into a good life.
Good luck guys.
Instead of thinking about money as something that you spend, think of money in terms of income-over-time. So, you could say you make 6k/month or $200/day or whatever. Now, try to do the same thing with your bills and debt -- for example, you have $60/mo on a chase card or $100/mo for a cell phone.
Now, here's my 'trick' -- try to do / buy things that boost your daily/monthly income. This might not sound like much of a trick as it is a no-brainer, but it seems like most people focus on shit that just increases their money, not their money-over-time. If you get hired to do something, or rob a bank, or win the lottery -- you're getting money. Generally though, it's money-over-time that gets you rich, because money is always spent over time.
And if your wondering why I'm posting this here, it's because I know there are a few people on here that will come into 5, 10, 20k+ paydays, and probably buy shit like cars and houses and what-not. Nothing wrong with that, but maybe also look at doing something like starting a business, buying a business, buying real-estate, hard-money lending (high-profit, low risk loans people use to purchase real-estate -- the loan is secured solely by the down-payment, which is like 40-50% of the loan), ect. Whats really cool is that for certain things (business purchases, real estate purchases, ect) you can get loans with pretty decent terms -- $10,000 might not sound like much to invest, but if you can turn it into a $100,000 rental property with a $90,000 mortgage, it's not so bad. Maybe you pay $800/mo for it and get $1,200/mo in rent -- now your making an extra $300 mo, have an asset and a tax write-off. (there is also the weird fact that rent adjusts to inflation while the mortgage payment is fixed -- if you hold the property for 20 years, the rent might be up to $2,200/mo, but the $800/mo will only increase a little bit, for property tax and insurance)
Guess the biggest thing is just be careful how you spend your money or you'll never have any. 200 million-dollar lottery winners end up broke, factory-workers end up millionaires, some of us will probably end up in jail, but hopefully a few will get what they can, while they can, and turn it into a good life.
Good luck guys.
