Updated: Jul 21, 2021
Let’s talk about MONEY!
Why is it that we talk about the weather, Ellen retiring, and sometimes even politics and religion, but there is one subject that appears to be taboo. Why do we not talk about money with the ones we love most?
The only time I ever heard about money when I was a kid was when I'd ask for something and my Dad would say, "Look I only have 12 bucks for the rest of the month." That was usually around the 3rd of the month. I've seen many self-made people say the same thing. They got little education or mentoring from their parents, relatives, or teachers about how money works and how to use it to your advantage, rather than be a slave to debt. I asked many people that started with little and are now financially comfortable this question. What are the 3 most important things to make sure you use money to your advantage to get somewhere financially. Here are their answers.
Play good defense. Avoid unnecessary debt as much as you can. Set up a monthly budget. See where your money goes every month and limit excessive spending. Do a financial personal audit NOW to see where you are currently. Make a short- and long-term financial plan.
Play good offense. Find a way to increase your income and INVEST the excess income/profits. Learn all you can about investing and start YOUR OWN retirement plan as early in life as you can. You CAN increase your income by taking on a second job, starting a side business with a talent you have, or getting more knowledge in your field to advance forward.
Adopt the right mindset. Think of running your earning and spending life like a business and continuously learn more about how to better yourself in every way financially… especially focus on how to play better on defense and offense as mentioned in tips 1 and 2.
What we measure, we can manage.
It is incredible what one can do when they put their mind to it. Many are overwhelmed and do not pay attention to this most important slice of the 1Life Fully Lived pie. DO pay more attention. Find people you know that are “playing the money game” well. Ask them how they do it. Ask them if they were in your shoes what would you do financially to earn more? What would you do to invest (or learn to if just starting out)i f you were in my shoes?
Here are a few good books to read to help point you in the direction I'm describing. If you are a young person, ask your parents or someone who cares about you to buy you these books, one at a time. You get the next book after you give a full (written) report of what you learned and how you will use what you've learned. Good books and programs are a super affordable option when it comes to helping you find your way.
Seven Habits of Highly Successful People by Steven Covey
Think and Grow Rich by Napoleon hill
Unlimited Power by Anthony Robbins
How to play good defense
Millionaire Next Door by Stanley/Danko
Wealthy Barber by David Chilton
How to play offense
Richest Man in Babylon by George S. Clasen
Rich Dad Poor Dad by Robert Kiyosaki
Wealth Can’t Wait by David Osborn
Money Ain’t Everything!
This is by no by no means saying life is simply about money, it is but one piece of your life. You have many other areas of your life to work on enjoying and improving over time. But please do yourself a favor and DO learn about DOUGH. You will either thank yourself or kick yourself many years from now.