It doesn’t matter how much money you make, you could be making $100,000, $200,000 or half a million dollars ($500,000) a year but if you spend every dollar that you make, you have the cash flow pattern of a poor person.
If you spend like a poor person you will always remain like a poor person. Today I’m gonna teach you five (5) things that you don’t want to do with your money. Remember it’s not just how much money you make, it’s how much money you keep.
The first thing you don’t want to do with your money.
#1 – Don’t Gamble Your Money Away or Buy A Lottery Ticket.
You see how do you think those casinos in Vegas, they have beautiful hotels, right they make money from gamblers just like you.
Lotteries are for suckers. People who buy lottery tickets they believe that they need the luck to become wealthy or to become rich which is not true. Do you know the chances of winning a lottery in a single state? It is as high as 18 million to one. In multiple states sometimes it’s a hundred and twenty million (120,000,000) to one. That is your chance of winning so you tell me the odds.
And more importantly, when you are gambling or buying a lottery ticket, what are you telling to yourself? What are you telling your mind? Is this, the only way I’ll become wealthy or financially successful is that through the luck of draw. It is simply not true.
So don’t gamble with your money and do not buy the lottery tickets.
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#2 – Don’t Buy Things You Don’t Like.
Don’t get me wrong. I like nice things but I buy them because I like them, I enjoy owning them or having them. I get pleasure out of it. But most people, they spend money that they don’t have to buy things that they can’t afford, to impress people that they don’t even like. WHY? Because of low self-esteem. They need validation or approval versus buying what they enjoy. Buy what you enjoy. Don’t do it for other people. Do it for yourself.
As JAY-Z said if you can’t afford to buy it twice, you can’t afford it.
#3 – Don’t Buy Things That Will Rot Your Brain & Rob Your Health.
I’m talking about cigarettes, alcohol and drugs. Don’t drink, don’t take drugs and don’t smoke because of social pressure. Because is cool or your friends do it or they think that you should do it.
No, you gotta keep your brain sharp if you want to be successful. You don’t need to have a drink to have a good time. You can just have a good time, get high on life. Don’t get high on drugs or alcohol.
#4 – Don’t Invest Into Something You Don’t Understand.
Don’t invest because your friend tells you so or some salesperson or some broker tells you to invest. Do you know why they call it broker? Because they are broker than you are, right?
Don’t invest because you saw someone making a bunch of money, you are driven by greed. Only invest in what you can understand, what you know, you gotta study or what can investigate before you invest.
#5 – Don’t Loan Money To Friends
I’ve had this happen multiple times. There’s a reason if someone’s struggling with money, it’s not the first time they have money problems, chances are they always have money problems. Because of the habits they have or bad decisions that they make.
Now there’s a difference if it’s an emergency and you are helping them out, then don’t expect to get the money back.
The problem is when you loan money to your friend and I’ve had this happen to me. When you loan money to your friends and they can not pay you back, there’s a lot of guilt, the guilt kicks in and then what happens, you lose your money and you lose a friend.
A much better way to do this if your friend needs help, help him solve the problems. If he has addiction problems or gambling problems, solve the problem from its core, right?
If you know what your friends need help and if you are able to help or if you are financially able, then just give them the money but don’t expect to get it back.
You see the best thing that you can do with money is to invest it in yourself. No one can take that away from you. Investing in your own ability to improve your capabilities is to learn new skill sets, you can never go wrong with that.
So click on the link below if you want to know what is the number one investment that you can make. What is the number one skill that you need to develop? If you want to make more money and also keep more of the money that you have, then go ahead and click the link now.
The link will be provided soon. Stay Tuned