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5 Money Mistakes You Make Daily

5 Money Mistakes You Make Daily
5 Money Mistakes You Make Daily

p5 Money Mistakes You Make Dailyp pfive massive money mistakes that you are making almost daily almost every single person I see out there is making the majority of these mistakes day in and day out these are massive money mistakes guys and with when you fix these things in your life watch how your net wealth increases watch how your income increases watch how the you know your your ability to do other things in life you know go on vacations you know and do things like that you know experiencing things that youve never thought you could experience you know when you think about how long you will have to work and you know when you want to retire and things like that though thats held back because people are just making these massive money mistakes you know a person that you know wants to move out of the area they live in or or buy a bigger house or do whatever it is they wanted to put their kids through college or or whatever it is okay all those things are accomplished by money but unfortunately people are making all these mistakes that Im gonna mention here today and they never really get to accomplish any of that guy so dont make these mistakes and lets get into it mistake number one here and this one might be actually the biggest of all in my might actually gave you the best one for first usually I try to keep the best for last but I think this one honestly is the biggest thing by far and its people well what happens with people is they negative selftalk themselves they usually talk themselves down in their mind on what they can accomplish what they can go out there and do you know that their belief in their self they really lack a lot of confidence when I look at the majority of humans out there as far as real confidence in themselves my goodness the they you know most humans out there they just lack confidence in such a big way and its so easy to see and I can see it so fast the real confidence Im talking about fake confidence talk about the real confidence in themselves and under estimating yourself is one of the biggest its the biggest in my opinion money mistake people are making literally day in and day out the the non belief in themselves to go out and do something to go out and accomplish something okay people think you need to be the absolute best or you need to have all the knowledge in the world before you accomplish anything and its just not true okay guys its just not true for instance I got into the stock market Im a city college boy okay Im a city college boy that dropped out okay and guess what in high school I graduated with a 2.2 GPA into the stock market and Im like I can do this okay I can do this I had belief in myself and I did it unbelievably successfully okay when I started my real estate marketing company my goodness I was the worst photographer articlegrapher in the world like if there was like a great photographer ranked here okay and then you got like the middle and you got like trash photographers I was like ten steps below a trash photographer I was garbage and I started a real estate marketing company and I literally made it into a success one of the biggest real estate marketing companies in terms of articlegraphy photography for real estate literally in Las Vegas okay I created that as someone that started out as a garbage photographer okay I started out there and I just had belief in myself that I can make this work when I started in YouTube I didnt know anything about YouTube Ive never had a YouTube channel I didnt know anybody that ever had a YouTube channel or did it successfully or anything like that I just had belief in myself like oh I can understand this I can work this out I can get there its believed guys its belief in yourself man you gotta have that belief in yourself when I got my first good job which was that Kwik Trip right as an assistant manager at 20 years old I never managed a person in my life but I acted like I did and I and I had confidence to myself that I couldnt manage people and then I wouldnt did it you got it you gotta gotta gotta have that confidence in yourself that belief in yourself because if you dont have that belief in yourself that true belief in yourself how are you ever gonna do anything in this world man how are you ever gonna do anything and most people are walking through life like theyre coming bad like theyre coming back like theyre gonna be reincarnated or something Im like its one life to live so why live it all scared he is one life to live go out there and do whatever it is youre gonna do okay accomplish whatever it is you want to accomplish believe in yourself man if you dont believe in yourself no one else is gonna believe in you if youre hoping that youre gonna get lucky and someone recognizes you and somehow that lucky chance turns into this huge thing its unrealistic its not gonna happen okay so Im just gonna be honest with you it doesnt happen the fairy tale doesnt happen unless you believe in yourself from you actually put in the work and then you can get somewhere okay you gotta believe in yourself man quit putting yourself down quit the negative selftalk that you guys do they like just quit all that man and believe in yourself get that real call Infinites okay get that real confidence in yourself because what makes someone else so smart okay what makes someone else so much better than you nothing man you can do it you get the experience and youre gonna be able to do it believe in yourself guys thats a huge money mistake dont make it money mistake number two that people are making out there daily is they are paying high interest loans so many people have these high interest loans either on vehicles or credit cards mostly okay the some people even have them on payday loans and stuff and thats like beyond high interest like some of those thats like 70 interest rates like 100 percent interest rate like thats like ridiculous we wont even get into that Im just sticking to the car and the credit cards okay so many people are paying on these super high interest loans you know a credit card thats a twenty two percent you know annual rate you have to pay or whatever Im like thats crazy guys or a car you know payment when you got a fifteen or twenty percent interest rate heres how youve got to think about loans okay heres how you got to think about loans the stock market on average goes up around somewhere around eight percent per year okay if you look at is historically somewhere about eight percent a year so in my opinion as a stock market investor you should never ever take out a loan anything above 8 percent okay especially if youre going above 10 percent because youre probably not even gonna be able to make that money back so youre you funneling all this money to these banks to pay off these credit card loans to pay off this car loan and whatnot either you need to do one of two things you need to ditch whatever it is you got a ditch there you know the credit card loan you they got paid off or the the the auto loan you got to pay it off or you got to just get rid of that stuff okay yeah Im gonna sell all of the stuff that you bought him the credit card the flatscreen that you bought on and the PlayStation whatever sell it on eBay do something like that get that thing paid off okay the car ditch the car like sell it off do something I dont know if you really want to ruin your credit you can have it repod that sometimes isnt the best option but Im like in some cases sometimes actually you know just getting a repo and just stop paying sometimes in some cases its actually better I dont ever suggest it but in some peoples situation when I look at them and Im like oh my gosh theyre 10, 000 underwater on that car theyd have no net and theyre paying you know 22 interest rate for the next seven years Im like they just made such a massive financial you know waste of money there that honestly repo is probably actually the best thing that could happen to them yeah its gonna ruin their credit for several years but Im like it might be honestly a better case then you know being ten thousand plus dollars underwater and youre paying a twenty seven percent interest rate because youre probably never going to get out of that unless your income goes crazy unless you can get your income way up then youre gonna be stuck in that situation for who knows a decade to decade like thats just a mess guys so quit paying on these high interest loans pay him off okay or you need a ditching and somehow find the funding to pay for those loans they get rid of them because if its if its over ten percent especially if its fifteen twenty plus percent guys thats ridiculous man you you when you start adding up those numbers the amount of money those banks are making off you its its insane and its literally putting you in a worse and worse financial situation when think about you could be investing that money and making that money into money instead youre giving all that money to the banks and theyre making that money into money okay thats not a situation if we want to be and what what what for a fancy car or what for some stuff you bought on credit card you know new pair of shoes a new purse you bought for yourself you know like what for what guys thats just crazy okay this is crazy the number three money mistake I see people make it all the time out there is what I call you know growth versus stagnation growth versus stagnation okay growth is when youre going up stagnation when you stop you know youre just youre flatlining okay what I see out there with so many people is theyre so worried about keeping their income their their wealth and whatnot just even I just want to keep what I have now theyre so worried about that all the time and Im like thats the opposite way your mind should work you its either youre either growing or youre shrinking okay youre oh youre either growing as a human youre either shrinking as a human youre either growing your net worth or youre shrinking your net worth youre either growing your income or your incomes going down okay youve got to think in those terms so theres no such thing as a flatline so if youre just looking at from perspective oh I make seventy thousand a year I just want to be able to keep making seventy thousand guess what thats probably not going to happen okay and guess what if you keep making seventy thousand a year its really not the same seventy thousand because guess what happens each year everything around you gets a little more expensive okay those food trips that might be used to cost you 100 a week you know the next year starts costing you 105 or 110 and the next year around 120 the electric bill that last year was you know a hundred dollars a month starts to creep up and also its 105 or 110 dollars a month everything around you getting more expensive so if your incomes just stagnant and youre worried about stagnation thats not where your minds would be you got to be worried about growth how do I grow this income I made seventy thousand this year how did I make a hundred and seventy thousand next year I pay how do I go from this to that thats where your mind should be not oh I made seventy thousand last year how do I make seventy thousand again no youve got to flip that brain to be a growth brain instead of us together a shrinking brain because theres no stagnation theres literally nothing at stagnation you see that youre going down or youre going up youve got to choose which one it is I highly suggest you choose the one thats going up thats focused on growth Im growing my wealth this year I might win losers say your net wealth is you know ten thousand dollars right now how do you grow your net wealth from ten thousand dollars what it is this year to you know twenty five thousand dollars by next year what steps do you need to take how much money do you need to put in your accounts each month what percent of return do you need to get this year or next year or whatever thats how you got to think growth mindset growth mindset growth mindset oh man number four is one of my favorite number four is one of my favorite what you have in life is you have all these people around you okay their family members and their friends you have these family members you have these friends around you alright what happens is these family and friends they talk to you into buying stuff they say oh you know what you got suchandsuch going on you should buy a house now oh man you should get this new car or you should get this oh did you did you see this you should get this did you see the new Playstation did you see the new Xbox you need to get this what happens as family and friends they start talking you into buying all this stuff you got to stop buying all this stuff that family and friends tell you to buy okay just because youre a certain age or you have certain lifestyle situation going on does that mean necessarily you should buy a house okay or by a car whatever it is theyre trying to talk to you into by you wanna think about it from your own situation okay does that make sense to you Im so happy I never bought a house when I lived in Arizona before we ended up moving to Charlotte North Carolina with the company I was working for a quick trip right I was thinking about maybe buying a house in Avondale which is in Arizona okay nice house we were looking at Im having KB homes or whoever built them or whatever at that time it was like 2011 I want to say and I was looking at him and I was like dang we could afford this technically you know pretty easily and Im like this nice house this might be cool to have you know it was pretty nice house and I was like 21 22 years old or whatever like this would be cool Im so happy I never bought that house guys because if I bought that house I would have never moved out of Arizona I would have stayed there I wouldnt have never moved with the company to Charlotte North Carolina because the house would have had it been built okay the house would have had it been built by the time it was built that was already the time I was moving to Charlotte I would have never applied to moved to Charlotte North Carolina and things like that and then I probably would have never came to Vegas which is where I lived now and start all this stuff like who knows where my life would have turned out but Im so happy I never bought that house because I would have planned it my and my roots there and then who knows I might still be working at Kwik Trip making 60 thousand a year which isnt the worst thing in the world but at the same time its not what I have nowadays guys so youve got to think about it from your own situation just because youre making a certain amount of money or you have you know a certain you know lifestyle situation going on doesnt mean its necessarily the best move now there it might be a situation where it makes sense for you to buy a house okay or something like that or buy anything if it makes sense for you do it but dont just do it because your mom said to do it or your uncle said to do it or your best friends like oh yeah you need to buy a house over here now like youve got to think about it from whats your perspective on it okay thats what you got to think number five is gonna hit some people in the chest this one hit some people in the chest and its when you lie to yourself on how bad you actually want it how bad do you actually want the success how bad do you actually want the money how bad do you actually want you know the lifestyle the freedom the financial freedom how bad you actually want that stuff how bad do you want that youve got to be real with yourself I mean quit lying to yourself about you know oh you want this and want that and then youre watching Netflix for four hours at night okay do you really want that like do you think Jeff Bezos goes home and watches Amazon crying for six hours no he does it hes probably working day in and day out you know and you dont have to be at that level you know the guys have multi billionaires of richest guy in the world but Im saying like you got to think about it like successful people okay you got to think about these successful people do you think they just sit around all day and just hang out maybe if theyre retired and they just made so much money that their money just makes them money in what not now on stocks and real estate and stuff like that sure those type of people can know people that are actively on the grind on the climb to climb in the mountain do you think theyre just sitting on the mountain hanging out just you know waiting for someone to magically lift them up or whatnot no theyre climbing the mountain right now theyre being active okay so I had to be honest with myself okay I had make this decision back in early 2016 late 2015 early 2016 one night I was just like I was watching just TV like I did every night okay watch like three four hours of fret all Fresh Prince of belair reruns and Family Guy reruns and stuff and I was just laying on the couch and Im like I do this every night and I was just thinking to myself I was thinking do I even really want it do I even really want it Im just sitting here doing nothing like I could be working right now I could be trying to figure it out something or it could be trying to plot right now and instead Im just watching TV for hour after hour and Im late I had to be real myself Im like I wore all this financial success in life well here I am just chilling on the couch and that was like a real moment for me sometimes youve got to have that real moment with yourself when youre like dude I want this I want that I want the the financial freedom I want the big house on the hill I want this I want that and then your your your your actions to get that stuff it doesnt matter all I want to be retired at 40 years old and youre just chilling every night like its not gonna happen like you need to literally just grind like crazy plot you need to be figuring this stuff out its no time to just chill okay from 2016 and 2017 I worked seven days a week seven days a week okay and a mass amount of hours each day it was until this year when I finally like a month ago I was like okay Im gonna start taking Saturdays off Im like out of what if we be considered an established level oh my gosh he makes so much money blah blah blah and Im still working six days a week guys six days a week and on those days Im working its a lot of hours I put in okay so thats kind of like how you gotta think like you need to grind to get there okay its gonna take a lot of work and a lot of smart work to get there be real with yourself do you really want the success if you if you do make sure your actions are following you there okay make sure your actions are following you if youre taking every saturday and sunday off to barbecue with the friends and youre watching TV for hours and hours and hours every night and playing article games and stuff you dont really want it man you might act like you want it oh I like this I want that you dont really want it be real with yourself guys be real with yourself these five huge financial mistakes are costing every single person out there pretty much if youre not making any of these mistakes and great for you Im very happy for you but theres a good chance youre making at least one of them if not all them so dont make these mistakes guys and you should be well on your way to achieving whatever you want to achieve in this life as far as financially and whatnot so anyways hope you guys enjoyed this always always make sure you follow me on Instagram thank you for watching and have a great day p

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