The 10 Rules Of Making Money: What I Wish Someone Had Taught Me In School

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there are 10 important rules to money I learned some of these the hard way and some of them I learned easier people taught me and I was smart enough to listen wasn’t always Mart enough but let me give you a few of these rules maybe they’ll help you out number one you have to do the opposite when most people are putting money out you have to be pulling money in and when most people are putting money in you got to be putting it out this contrary approach is probably the fundamental rule to money give you a little example I was at the bookstore Barnes & Noble with my buddy and I said don’t I said you should buy this book was a good book that I’ve read before he picked it up a big thick book we walked down to the checkout and when he saw the price when the lady was checking him out it was a hundred and I think one hundred and twenty bucks and he was like dude I ain’t spending 120 bucks on a book so he wanted to pull his money back in instead of putting it out and I looked at him and I looked down at his shoes I said what shoes are you wearing and he said Nikes Jordans I think he said how much those shoes cost you said 120 dollars I said see you don’t understand the rules of money most people are gladly put money out for things like shoes that don’t do anything there’s no upside to shoes obviously you need them in the moment but uh fixing something over here on the ladder um you know there’s no upside this book most people are gonna put money out they’re gonna pull their money back and say hell no I’m not spending a hundred 20 bucks on the book but that book was a book by Charlie Munger on everything he learned he’s I think 92 years old on becoming a billionaire I said man you’re thinking backwards you have to learn to be contrary and go against the crowd the second principle is be careful of spending money on things that rust rotten depreciate going back to my friend with his shoes the day he buys those shoes for 120 bucks and walks out of that store with them on if he tries to resell em on Craigslist or Ebay or whatever what is he gonna get for maybe 20 bucks maybe even if you could sell them so most people are putting money into things that rust rot and depreciate they’re putting into shoes they’re putting the electronics I read in the United States you know I think the number three or four things people spend money on are electronic type stuff and I’m not against you know having a computer especially a computer could be good but having a big flat-screen TV that’s great but never be a fool understand that that’s a depreciating item and you should have most of your assets most of your money and things that have the potential to have upside and so I learned this when I was I don’t know 19 20 years old this old guy dr. Gordon Hazzard one of the richest men in Mississippi I was in his pickup truck and he was an old farmer and we’re driving through and he said ty look out there you see all that land out there I said yeah he said well every day I go to bed I wake up the lands worth a little bit more it appreciates he said you see all those cows out there eating the grass is that every day Sun shines rain falls grass grows and the cows eat that grass and they get a little heavier and he says the end of the year I take him down and I sell him by the pound so every day those cows the value is appreciating and he looked at me he said ty never invested things that rust rot and depreciate things that go down in value and he told me he said you know only things I have tie that depreciate are this old pickup truck we were in a super old pickup truck even though he’s a millionaire he said I got a hammer and a crowbar in the back and he said if the economy gets bad I could sell the hammer his point was almost all of his net worth almost all of his assets weren’t appreciating you know or in things that appreciate so this is tied in to principle number one when most people are putting money out you should be pulling your money back in when you see your friends spending money on stuff let them spend it on you I read about this billionaire came to America from Turkey and he wanted to see if he could go three months without spending any money and so he went to Vegas and of course all these casinos people always wanted to take him out because it was this rich guy and he said I didn’t pay for anything for three months so he was a smart guy not that you and I can always do that but the concept was when most people come on a trip they’re spending tons of money he figured out a way to get it for free when I traveled around the world you know use your travel opportunity sometimes I was in New Zealand I got a job working and I saw more of New Zealand than every tourist and I was getting paid to be there so that’s a win-win situation so that brings me to number three and there’s ten of these I’m gonna do a talk free live online talk if you want me to go through the full ten these will change your life I’m telling you these are the tried and true principles of money that nobody teaches you in school unfortunately very little this is talked about in college so if you want I’ll put a little link here maybe it’ll pop up somewhere on the video or below does it link click it there’s no credit card needed no payment needed it’ll pop you over to my website and you can reserve your spot or show you the time that the live talk I’ve been doing these live talks been testing them out for the last couple months and ten fifteen thousand people show up so it’s cool you can live you can bring your questions you can ask me but make sure you don’t procrastinate if you want to learn these ten things go ahead and click the button because it starts to fill up and stuff and so you want to be one of the first people in okay uh so this number three is you have to adopt the win-win mentality very few people have this most people have a scarcity mentality when it comes to money like I said when I travel or when I when I was broke um and I had a little bit of money just enough to buy a plane ticket I started traveling around the world I figured out this win-win when most people most of my friends it was a win-lose so they would win in the sense that they got to travel the world and see new places but their bank account lost that’s a win lose you never I mean you never want to lose lose that’s the worst of all scenarios a win lose is a little better because there’s some redeeming value to the activity but a win win can be pulled off uh so much more often than people in scarcity mentality realize um you can do this as an entrepreneur you know you can set up a business just think about somebody like Kobe Bryant a basketball player or Steve Jobs or you name any of these people they’re doing what they like to do and people are paying them Kobe Bryant the basketball player are Messi or Ronaldo the soccer player these guys are getting play paid to do what they would do anyway in fact Michael Jordan used to have a closet is I’ll try called the love of the game clause which said I can play basketball 1 whenever I want because a lot of athletes in the offseason they don’t want to get an injured so they can’t you know they can’t play but he’s like no he said I would do this even if I wasn’t making one and so you have to figure out financially how to move into that win-win scenario um there’s been times when I’ve been in lose-lose that’s the worst where I hate the job and my bank accounts going down I’ve been in situations where it’s win lose I’m making money but I don’t really enjoy what I’m doing and the ultimate I call it level 3 activities level 3 is all about like dude I love this and I’m getting paid and if you could pull that off all for the majority of your life there’ll always be times when you’re not excited about life um you know nobody likes every minute of their life it’s okay to have variants uh you know there’s this principle philosophy called the hedonic machine which basically says would you want to always be happy at every moment no you need some contrast in your life but the majority of your life I say 85% of your life should be spent in a win-win scenario so you must find that socially you must find this financially you must find this career-wise and and so on and so forth it never ends that win/win principle so these are three of them I got seven more that are game changers these three kind of build up to the little more advanced seven ones that’s why I’m trying to keep this video you know under ten minutes so I know you got plenty to do but click the link here go to my website uh grab your free spot on my site like I said no credit cards needed just it’ll show you the time in your local timezone will trans you know will convert it so wherever you are in the world you can watch we got people in 70 countries watching this stuff so yeah hundreds of millions of people have seen these videos but these live talks I keep smaller so bring your questions and let me know um you know if you have any specific questions write them out before you come but really think hard on these first three these first three or game changes the last seven will really show you how to convert them in practically and put them in you know these first three are kind of general broad principles they need some specifics so I’ll show you some specific things that I’ve done that I’ve seen people do ah that completely revolutionized their financial situation you don’t want to be broke all the time it’s a nightmare trust me financial pressure is responsible for a multitude of evil number one reason for divorce well financial financial pressure one reason people make stupid mistakes compromise what they wish they would be doing uh like Thoreau said the mass of men lead lives of quiet desperation what’s called resignation is confirmed desperation one reason people are in a state of confirm desperation they don’t have enough money to really get out there and experiment travel and trance which what they’re doing so if you want to learn some stuff I should I promise you this stuff is game-changing click the link see on my free talk and let’s talk about the ten rules of money so California’s trying to get cold when it’s chilly out here but like a little change in seasons so leave a comment though by the way well it’s an example of something you invested in things that depreciate or things that have appreciated other question you can answer is is your life currently in a win-win situation lose-lose situation or win lose you know those three options financially specifically where do you think you’re at okay leave a comment and explain why I like to read them it’s interesting stuff so ah I almost got 10 minutes 10 minutes 10 seconds dogged user click the link should be below see you on my site on the live talk you can do it on your phone or your computer okay talk to you soon