You probably heard before you need to cut those credit cards and only use cash. But what if you
could leverage credit cards to actually build wealth and let me tell you if you
don't know how to leverage credit cards to build wealth you're missing out on a huge opportunity.
Credit cards are often associated with debt. But what if they could be associated with wealth?
What if you could find ways to grow your wealth through leveraging and using your credit cards?
In this video, I'm going to walk you through five ways you can start building wealth by
leveraging your credit cards. Let's hit it. The very first thing you can do to leverage credit cards
to build wealth is to maximize those welcome bonuses. A lot of times in credit cards you get
large welcome bonus packages in order to sign up. When we signed up with Marriott, I'm a big Marriott
user in all the hotels I stay in as I travel the country. I stay in Marriotts when we signed up
for Marriott they gave us 80,000 points. If you leverage that right that can be anywhere from
10 to 15 nights leveraged correctly in the right cities. Well, that's a big bonus. So I
can take those 15 nights and those 15 nights as I'm traveling the country those are money
straight to my pocket and as I'm a business that travels a lot I get to leverage that bonus and I
can continue to stay in Marriott's and earn points and continue to build wealth by keeping that money
in my pocket. But guess what? This can be done with every service provider, you use for example.
Because I travel a lot one of my business's credit cards is Marriott another one is southwest. So I
also did the same thing with southwest. I got a hundred thousand points to sign up with southwest
which if you use it correctly can be anywhere from 5 to 7 flights and that's another
huge way to put money straight back into my pocket. So I don't have to use it to travel. Again, if we're
gonna build wealth with our credit cards we have to do it carefully and correctly. Because just
putting things on credit cards is not the best way to do it. Another thing that is often part of
your welcome package with credit cards is if you spend a certain amount of money in the first 3
to 6 months of your card, you'll get an extra batch of points to that card. Now, never spend that
money just to spend it. What I do is when I get a brand new card I make sure I invest that money
into my business or invest it into wherever I'm spending money. I'm making sure I'm spending that
money on things I would anyway not just spending that money in order to get the points. But my wife
and I also have a personal Amazon card. The Amazon card is for our personal life for any personal gas
personal groceries personal expenses goes on that Amazon card. Now, why would we get an Amazon card?
Because we are very very heavy readers we love to read. So the more we buy on our personal account
we're not buying things that we wouldn't anyway groceries gas just the normal everyday stuff. Guess
what? We're getting free books from Amazon because all those points are going to be applied to books
and we've built our library that way. This is all from welcome packages from these credit cards.
The second way to build wealth with credit cards is by leveraging your cashback rewards. A lot of times
when you spend money again money you're going to spend anyway you get cash back rewards literally
in cash. Take that cash put it into your investment account. Automatically don't go take the money and
spend it put it instantly into your wealth account. Because you're going to have a wealth account
where you put at least a percentage of your money into that account so you can invest in real estate
or some other investment and because that cash back bonus wasn't money you were planning on
anyway then you can put that money straight into an investment account. You're gonna spend money on
gas, groceries, food, utilities, all this stuff anyway. So put all that cashback money into an account
to throw it into some real estate or to throw it into some type of investment that makes you money.
Again, another way to keep maximizing that money. So Imagine if you got 12-1,500 dollars a year back in cash
back rewards. You take that money every single year and put it into an investment. Think about over 10
years you've invested 10 to 15,000 dollars and guess what? It isn't money you worked for and now it's working
for you. It's a power of the compound effect Darren Hardy taught us in his book that little steps over
a long period of time will change your life and this is one of those. It's not going to change your
day or your year but it will continue to build over time. If nothing else it continues to help
you think investment-minded. Money came in goes to my wealth account instantly. The third thing
you can do is get a zero percent card and start a business. I've done this a couple times because you
can get a zero percent card usually for 12 months and in that 12 months, it'll usually give you an
error from a 5 to a 10,000 dollar limit. You can launch a business for 5 to 10,000
dollars. There is nothing that has more earning potential than a business. Whether that's a gig
based business meaning you're going to launch a web design business or a videographer business
or a photography business or a online store where you're going to do an ecom business or
you're going to do ebay where you buy products and sell them for more than you bought them for.
No matter what business you're going to do you can start it in this 5 to 10,000 dollar range.
Leverage a credit card to do that and you can start making income and by the way that money
definitely needs to be paid back but it's zero percent interest for 12 months. Yet another way to
leverage a credit card and build wealth. Before we go on to the next tip leave us a comment. How have
you leveraged credit card to further your wealth rather than just go into debt? Leave us a comment.
Let us know we love hearing from our family to. Let us know what you're up to and how we can
engage in that. So, ask questions let us know what you're up to especially if you've used a credit
card to build wealth. I'll see it in the comments. The fourth way you can leverage a credit card to
grow your wealth is by investing in coaching program or an online digital training program.
The reason that this is a true way to build wealth nothing has changed my life more than coaches and
training programs. Dan Kennedy used to say back in the day when we bought physical products that
had cassette tapes and CDs we don't really do that anymore. But back in the day he used to say this if
you go to somebody's office and you see courses stacked up some in still in the saran wrap some
not some opened some clothes and bookshelf loaded with books stay as long as you can. If you go to
somebody's office and they don't have any of that stuff and they just have a few books on the shelf
leave as soon as you can. The idea is people that invest in themselves are people to listen
to because they are always learning. They always have things to teach. They always have things to
share and for you taking a credit card and buying a course that can really help you grow your life
could be a massive massive investment. In 2012 my wife and I visited a seminar and it was how
to grow a speaking business and a lot of you know and maybe if you don't know for the last 10 years
I've traveled the country speaking to colleges and universities on leadership and team engagement and
when I started that business I had no idea how to build a speaking business. Like, how was I going to
do this? How was I going to get people to book me to speak when I had never spoken? I didn't have
a video reel showing me on stages. How was I gonna do this? I was a pastor that just spoke to 30 dirty
teenagers in a dirty basement every week like that was my life. But then I started getting asked to
speak I'm like man, how do I grow this so what did I do? I went to a seminar college speaking success.
Went to the seminar on how to get booked at colleges and the guy stood up and had the audacity
to ask for $15,000 for a coaching program and you know what I did? I bought it and so I took a credit
card I put that thing on the credit card and if I had not done that my life would be drastically
different. I invested fifteen thousand dollars the first year and he offered the subsequent years. You
could stay in his program for $10,000 a year and I stayed for two more years. I paid
$35,000 plus all the travel out to all the coaching in order to be in this man's program. He changed my
life. He literally changed my life and my ability to connect with people on stage my ability to
get booked to speak and grow a business and guess where I put that ladies and gentlemen? You guessed
it right straight on a credit card. Because that's the only way I could afford $15,000. In fact, I
didn't put all of it on the credit card because I didn't have that much space. I did payments because
he had a payment program of where I could do month after month after month and so the truth is credit
cards can be used as investment tools and that was a really really good investment tool for me
because it changed my entire life. So, investing in a coach or a training program
huge... opportunity for success. I've invested over $250,000 in coaches and training
programs in my life and every single dollar was well spent and I've been in some programs after
I invested I'm like this really wasn't that good. But the truth is I always got one thing
out of it that I'm like I can use that and it will change somebody's life and it always has.
Keep investing in yourself and credit cards are a great way to leverage and do that and the fifth
thing you can do to use cards to invest in real estate is you can actually pull cash off your card
and invest in real estate. I actually had a student in my inner circle mastermind program
that actually did this exact thing. They pulled money out of their card then they
made an offer on a house the bank said, "Okay, it's $10,000 down", they took that 10 grand
threw it on the house perfect. You can invest in real estate from a credit card. I learned this
from my mentor years ago and it can happen. You can take cashback off your card invest it into
real estate and allow that real estate to pay off the credit card. That's how you can leverage
your credit cards to build wealth. Let me tell you believe me you do not want to miss out on
an opportunity to leverage free money and grow your wealth or even if the money costs a little
bit in interest but you're going to be able to really benefit from it do it every single time.
I also want to give you my free ebook today the seven secrets of managing money and creating
wealth. Go to the link in the description click that link you'll be taken to a page
and you can lock in your free ebook it'll be emailed straight to you. So that you can understand
the greatest way to start managing money and creating wealth, I'll see you in the next video.