The VIP contributor and International sales expert, Grand Cardone lashes the most brutally honest facts on the fundamental ways of how we handle our money.
Grand has the most explicit confessions and slays the money, society and lifestyle traditions we live for. Two hundred and fifty million people in the wealthiest country on the planet are barely making it.
Grand counter engages in such finance conferences and throws light on how people on food stamps or unemployment can add value chain. He also talks about people making an average of $48,000 to $68,000 annually.
Consider that almost 75 per cent of all Americans are living paycheck to paycheck, says Grand Cardone. An average earning citizen looks forward on housing, transportation, food, insurance, entertainment, childcare, health care and other expenditures.
Formulating 20 per cent out for taxes and what leftover for savings or investments is subjected to:
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You Don’t Have Money because:
1. Living with Parents
Apart from being molly cuddled, most of us live within 25 miles of their mothers. In order to make a real deal of money, it’s time to disconnect from mommy and all things familiar. It is important that we don’t miss out on the opportunity to create more by taking care and responsibility of ourselves.
Grand first stepped out of his hometown to set a benchmark in his career.
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2. Economic Illiteracy
Taxes, stocks, share, markets, etc… are not only for those who want to trade ad increase the liquidity. Most people are economically illiterate.
Grand in his own words said, “People are going to college and don’t even understand basic economic terms. The economy is defined as household management or management of resources.
To manage means to charge and succeed in surviving, especially against heavy odds. To manage your own economy means you have to create money by playing offence in the marketplace. “
3. The budget taboos
Spending all of your time trying to budget money is a way to guarantee you never have money, overanalyzing the resources can make you over-invest or under invest.
Our fathers told, “A penny saved is a penny earned,” wrong, it’s just a penny. Having a budget blockhead mindset means you are playing defence, not offence. It could help to far only a certain extent.
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4. The Politicians & Economy game
This idea that a politician can save the middle class (you) has been tried, tested, promised and failed for the last 50 years and till date.
Further, many countries are still in the belief that the government and political sector can alone enhance economic status. People are forgetting that governments are often formed by democracy or by the public.
Almost every economic indicator has worsened. If politicians could save the middle class they would have already.
5. Disinterested in Finances
People have become totally ignorant regarding their finances and quit looking at it. It is very simple; you can’t have money if you don’t pay attention to it.
Admit to where you are financially standing and start paying attention to managing the money & later increasing to means to earn more.
Acting like there is no problem doesn’t make the problem go away, it makes it worse. Grand and his wife often meet to discuss the vast and bizarre topics over money every week regardless of their financial condition. There is something to take away from them, isn’t it?
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6. Entitlement issues
The unwillingness to do the jobs no one else wants is why people don’t have money. The entitlement problem is not just for the lower economic level but hits all the way to the top. Everyone wants to be the director, CEO, the manager, the writer — well, guess what? Someone has to do the selling.
7. Superior & Inferior money?
The idea that a person’s financial situation is better off than someone, that is starving does not make your financial situation any better.
Those just getting by trying to make sense and justify their financial situations by finding others that are worse off. That’s financial suicide.
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8. Minutes to hours
Grand in his own words, “I work 95 hours a week and most people complain about nine-to-five schedules. If you aren’t working and thinking about how to get ahead before during and after work, you aren’t getting ahead. I have never known anyone that was financially successful that wasn’t all in all the time.”
- He subjects the problems are certain that your money situation sucks and the first step to solve it is by accepting what is. The first step to any makeover or recovery is to admit you have a problem and the second step is to quit blaming others.
- Often, we depend on others to fix it and try to make sense of it. Confronting ourselves makes things clear and easier to solve problems, special concerning finances.
- To know where we are, give attention on income, not just savings, be willing to do whatever job for however long to fix your situation. Moreover, make it an onboard duty, obligation and responsibility to get that financial life in order.
- Money isn’t the most important thing. It won’t bring happiness alone but mag=nagging it does. But, neither of those truths makes it OK for you do not have money to take care of your family and create the life you want.