Want To Get Rich? Do These 4 Things.

what you do with your money right now is so important if you want to become rich but why well the world is on Shaky Ground with a wealth bubble set to pop an energy crisis in the works and a looming threat of recession it seems like all hope is lost well not quite however Millennials are running out of time to build wealth it's no surprise that American household debt just hit a record high of over 16 trillion dollars and credit card balance is increased by 46 billion dollars in the second quarter of 2022. I completely get that the current situation has left some people in dire circumstances and sometimes debt is the only logical Solution that's why today I'm going to be running through the four things you should be doing with your money right now and they might not be quite what you think step one humble

yourself hi guys it's Mark so 72 of us adults now use social media so it's no surprise that a lot of people waste time and money trying to keep up with the Joneses this means striving to achieve or own as much as the people around you when it comes to pushing yourself to achieve more this isn't a bad thing however when it comes to stretching your budget to buy things you don't need it's a big problem in reality luxury goods are often purchased to increase self-esteem and provide a sense of belonging that often isn't found elsewhere trying to keep up with the Joneses with excess spending and credit card there is a bad move when I was much younger the way I was able to beat my family and friends was actually by doing the polar opposite to them instead of buying things I couldn't afford to impress people on the street that I didn't even like I began to think about the kind of future I wanted for myself and my family this led me to making the minimum payments every month on all my debt and then using any extra money to pay off the debt with the highest interest rate this is now commonly known as the debt Avalanche method this is proven to be one of the most efficient ways to clear debt fast give it a try if you're struggling with debt I always found it beneficial to gamify things by striving to beat targets ripping the debt chain off your neck allows you to think freely and move on to the fun part saving money and growing your net worth because after all money makes money I'd like to set you a fun small challenge that if completed correctly will open your eyes to the power of saving money and compounding today save one penny in a piggy bank I know it doesn't sound like much but stick with me tomorrow save two on the third day save three we're really building up the cash here but seriously keep increasing your saving amount daily by one penny and at the end of the year you will have over six hundred and fifty dollars saved up all starting from one simple Penny if you don't actually want to use a piggy bank then you can use one of those apps that round up your purchases then saves the difference for you if you can afford more then of course this is great while doing this it's important not to inflate your lifestyle I actually recently had a AI called Hugh on my podcast strike it big who lived on 10K per year while still paying a mortgage what's it like living on 10K a year I sold my car and back to work two and a half miles every day I made lunches every day I didn't buy any new clothes or items unless absolutely necessary the goal was really to try and track my path to financial independence by the time I'm 40. and the way I went at it was level one which is what I teach everyone is get your expenses down I bike to work like I went pretty extreme I'm like an all-in or nothing type of guy and I probably went a little bit too far well I always say that you can only save so much yeah there's a limit to how much you can save however there isn't earn so I would always personally focus more on earning that was the same equation I got to that

brings me to step two spend strategically now this might sound like the opposite to what a lot of people tell you but usually when you go against the crowd you end up achieving far more than the average person it seems like there's a theme appearing in this video when I was younger my dad would always stress to me the importance of saving as much money as I could in my bank account and maybe just maybe one day I could afford the house of my own however this is playing into exactly what the banks want you to do here's why throughout the years the most influential companies of each generation have been in different fields at the moment six out of the top 10 companies in the world are in the tech sector however as these industries shift in popularity one thing remains constant the banking system but how do banks consistently manage to stay on top grow their power over the years and build bigger and bigger skyscrapers well an economist named Richard Werner had the same question he gained access to the back end of the banking system and did an experiment the aim of his test was to monitor where exactly the money was coming from surprisingly it didn't come from the banks deposits nor did it come from the reserves it effectively just appeared from thin air backed only by an IOU know and he States this is where 97 of money comes from debt creation on a mass scale like this is only possible because of the millions of people that save them majority of their money therefore by doing this you're just helping more bankers get rich of course I believe you should have at least an emergency fund of three to five months of your living expenses however once you've done that you should be focused on using the money to increase your earning potential you're paid in direct proportion to how much value you bring to the marketplace Therefore your main aim should be to increase this value so you have even more cash to play with think of it like leveling up your character instead of just saving useless gems in your Game Vault my son Curtis started his business as a videographer however continually spent his money strategically to learn new skills quickly he bought more cameras that allowed him to increase his day rate from two hundred dollars to three hundred dollars next he gained a drone commercial license that allowed him to start charging 500 pound per day and now after learning copywriting editing presenting social media branding and Leadership he's charged up to ten thousand dollars per day no matter what job or business you have there is always a way to spend your money strategically to level up your earning potential but we need to discuss how to spot the good investments from the bad ones but first I'd like to thank today's sponsor public. com public is an investing platform with a strong focus on helping you be a better and smarter investor on public you can invest in thousands of stocks ETFs and even 30 different cryptocurrencies the best part for the first time ever not only can you build a portfolio that features stocks and crypto you can also soon add Blue Chip nfts like a crypto Punk or a pair of game worn Michael Jordan sneakers overall public is a great app that I trust and for a limited time when you sign up at public. com Mark you'll get up to ten thousand dollars when you transfer your account from another brokerage depending on the transfer amount see additional terms and conditions of this offer by following the link in the description step 3

develop your spidey sense you know how Spider-Man has the ability to know when something that is about to happen you need to be like this with your money there are so many sharks out there looking to scam you out of your hard-earned cash during the crypto rally I unfortunately saw so many 18 to 20 year olds YOLO their life savings into scam coins this is so disappointing as it isn't just about the money they lost it's also about the opportunity cost involved with throwing that money away there is a phrase that making your first 10K is the hardest and that is often very true as you're able to leverage that 10K tire and even more everything is easier once you have momentum however when you lose a lot on a scam or a bad crypto coin it can completely halt that progression there are three main things I look out for when I'm unsure about something first does it sound too good to be true now I took one look at many of the crypto lending platforms and wouldn't touch them this is because they were offering eye water and amounts of interest and it just wasn't sustainable this was a good decision as many of these come these are now bankrupt like Celsius and Voyager second is the utility of the investment obvious when I look at most nfts I can't see any obvious uses for the product at least not something that justifies the Crazy Prices this is because during a bull market most people are buying them in the hope that they will increase in value so they can sell them later on and make a nice profit this means that it's only a matter of time before the asset crashes in value and unless you want a very stressful life of checking your Investments on The Daily then I'll steer clear third are you being driven by your brain or emotion this one is hard to identify as it's very common for people to convince themselves that they're making a logical choice however often it's just a way to justify their emotions many scammers and hardcore salesmen rely on this by pushing certain mental triggers to make you buy whatever they're selling a lot of the time it's digital products most of these online courses can often be useful however before making any big purchase decisions it's a good idea to wait seven days to see if you still want it this tricks your brain into giving you the dopamine here and allows you to think far more clearly about your purchases step four

build your Empire becoming a millionaire is a lot like rolling a snowball down the hill and watching it gain momentum in my early twenties I had a house where of a hundred and fifty thousand dollars a flat were a 46k a business with 116k worth of stock that was all paid off and 100K in cash my business was also turning over half a million and I could have easily sold it for three hundred thousand dollars I know this because I had supplies that would have purchased it instantly as they were expanding like crazy when you have an abundance of cash many opportunities open up and accelerate the snowball at this point you no longer need the majority of your money for increasing the value you offer to the marketplace this is because of the rule of diminishing returns when you first start investing in your skill set even small amounts make a huge difference however once you get to a certain stage it becomes increasingly more expensive for marginal gain now lots of people will say that you can become financially free from property investing which can be true however to do this effectively you would almost have to treat it like it's his own business it's there no longer the passive investment it was promised to be therefore in my opinion you should firstly build up a liquid asset portfolio I'm talking Blue Chip stocks and crypto recently I heard someone say that if you can't write a check for one million dollars within the next couple of days then you aren't actually a real millionaire this is a good way to look at it as there are so many millionaires that have their net worth tied up in their family home and never get to benefit from it I built a sizable stock portfolio rapidly and then reinvested the cash flow into more stocks and finally investment properties now I'm getting a bit older I'm so glad that I have those Investments That bring me in money without me having to even think about them my stock portfolio is mostly made up of index funds with quite a bias towards the America to Market through the S P 500 this has served me unbelievably well over the years if you just take one thing from today then it should be never lock your baby money away as you won't reach the major leagues let it play so your wealth Journey can get underway if you want to increase your income but don't know what business to start here's some business ideas I've hand selected for 2022 but don't click on it just yet make sure to subscribe if you want to grow your wealth okay I'll see you over there