Thousand dollar. Hey everyone. Ryan here from on property and in this episode I want to
do a book review of a book that I've just read called the thousand dollar project by
Canna Campbell. This book is a really good book to help you take significant steps towards
your financial freedom, but to do it a little bit at a time. So I just finished reading
this will actually I listened to the audio book and so I'm excited to share with you
guys what this book is about, what I thought about it, and then you can decide whether
or not you want to pick it up for yourself. So I first discovered Canna Campbell through
her youtube channel called Sugar Mama. If you haven't checked it out, go ahead and check
that out. She has lots of great tips on personal finance and budgeting and things like that.
So I found her through there, discovered that she had written a book, purchase the book
it got delivered, not gonna lie.
Uh, I got about a quarter of the way through the book, as you guys might know. I'm not
a big book reader. I'm a big book listener now, so I love audiobooks, got about a quarter
of the way through and then found out the audio book was coming out, so I waited. When
the audio book came out, I listened to it and got through it in one day, so I just smashed
through it as I was picking the kids up from school and then listen to it at night. So
really great book and I love this concept of the thousand dollar project. So the concept
is really simple and the concert is saving a thousand dollars at a time and then using
that money to put it towards your financial future. And so that can be the way Canada
does it, which is invest in shares and get passive income from shares or it could be
anything from saving a house deposit to paying off debt to all of these different things.
But the core idea of the book, the core idea of the thousand dollar project is to get expansive
with your mindset around money. So rather than just doing the day to day, living paycheck
to paycheck, the thousand dollar project encourages you to look outside of your job, look outside
of your current budget, and look for ways to earn extra money to save towards a thousand
dollar project. So what you do is you set up a separate bank account online. So I'm
with ing and so basically I set up a separate online savings account and anything that I
can do extra, I then put into that savings account. When the savings account reaches
the magical number of a thousand dollars. Then you go ahead and you apply that thousand
dollars somewhere, as I said, that might be paying off debt and might be towards a deposit
or it could be as Canada suggest to invest in shares that deliver you passive income.
So that's the core concept of the thousand dollar project. It's pretty simple, but just
the idea to look outside of your current situation, to look outside of your current job and to
look for opportunities of different ways that you can make money. Whether that be through
starting a side business, whether it be from selling old things like selling your clothes
or selling your old game cube controllers or whatever it may be. There's different ways
to earn extra money to put towards the thousand dollar project. She also talks about ways
to save money. So let's say you're going to go out for dinner with a friend. You're going
to get entrees, mains, some wines, things like that. You expect to be out of pocket
$50, but your friend goes ahead and shout you for that dinner where you were expecting
to pay $50. So in that instance you would take that $50, put it in your thousand dollar
project savings account, and then you would be $50 closer to that thousand dollar project.
So whole bunch of different ways. She gives a whole bunch of ideas of how to make extra
money or save extra money or get money towards the thousand dollar project. So for those
of you out there who are struggling to think about how can I make money outside of my job,
how can I make money outside of my current income? This book has some good ideas in there.
Now I am an online business owner. I run multiple different businesses. So bunch of those ideas
weren't really applicable personally to me in my life because if I'm going to try and
make extra money I'll do it through my business. But for a lot of you guys out there, I think
this is going to be really helpful. She also goes in, there is a section where she talks
about investing in shares and how to invest in shares.
Now I have not invested in shares currently. I just haven't done it yet. I don't know why.
I guess I'm not really passionate about it. Don't really care about shares and so haven't
done it. But she lays out a really simple strategy for investing in shares and how to
do that and what types of funds to invest in and things like that. So if you are interested
in starting a share portfolio, you can do that a thousand dollars at a time, which is
really cool. A property you might need to save 50, $60,000 to invest shares. You could
start just $1,000 at a time and so she lays out exactly how to do that. So if that's what
I was gonna do, if that's where I wanted to invest, then I would definitely read through
that chapter again, work out exactly how she recommends to do it and I would go ahead and
do it.
So if you're interested in shares, that could be a really cool avenue for you as well. She
also has sections on goal setting and how she thinks about goal setting, which could
be useful to you guys out there as well as how she thinks about money and manifesting
or creating money in your life. She sees money as a form of energy and talks about how to
acquire more money and how to acquire more energy in your life. So if that's up your
alley, then this could be good as well. So the thing that I love most about this book,
the core concept that I think is amazing and the reason that I think you should buy this
book is the concept of being expansive in your life and looking for extra ways to make
money. So rather than just focusing on the box of your life, so the income that you made,
the budget that you have had to spend less and save more within your budget.
The biggest thing about this book, the thing that I absolutely loved was that instead of
just focusing on that box, that is your life, that is your income, your expenses. Get outside
of that box and look for ways to make extra money. Look for ways to manifest money in
your life and to save that money towards the thousand dollar project. So don't just make
extra money and let it go and your lifestyle, make extra money, put it towards the thousand
dollar project, and then invest that money for your financial freedom. I also love the
concept of doing it a little bit at a time, so you can do that a thousand dollars at a
time. You could do that $100 at a time, $200 at a time. If a thousand is too small for
you, you could do it five or $10,000 at a time. So this could easily be called $100
project or the $10 project or the $10,000 project.
But yeah, so those two concepts, the concept of looking outside of your current box of
a life and being expansive and creating money, extra money in your life, in extra income
to put towards your financial freedom. I love that concept. And also the idea of doing it
one step at a time just makes it really achievable. So for me in my life, how am I applying the
thousand dollar projects? Well, it's a little bit more difficult for me. So I bet a lot
of you out there, you have a job living paycheck to paycheck. For me, I run my own business
and I'm kind of financially free through my business. And so the idea of being expansive
and creating more money in your life I'm already doing and I'm mainly doing it through businesses
and so for me, a lot of the work that I do to create extra money in my life is through
the business but also has a longer payoff period so I might do work today that won't
pay off for six or 12 months or even up to three years time.
So it's hard to track exactly what I do to the extra money that comes in to them, put
it aside for the thousand dollar project. So what I do instead is that I pay myself
first. So I set aside a certain amount of money each week that I invest as well as I
try and pay down my debt as well. So that's kind of what I'm focusing on. The way that
I'm using the thousand dollar project is really when she talks about how when you're expecting
to have an expense in your life and that expense doesn't happen, then that extra money you
put towards the thousand dollar project. So if I go out with friends, I expect it to cost
a certain amount and then shout me, well then I didn't have to pay that money so that'll
go towards the thousand dollar project or if I go to the shops and I'm going to buy
something, I know how much it's gonna cost and it ends up being on special and so I save
$5 here, $10 there.
Then that money goes into the thousand dollar projects. So that's kind of how I'm doing
it. I'm like pretending that I'm spending the money and putting it in the thousand dollar
project, I haven't yet reached my first thousand dollars. So maybe when I do reach that first
thousand dollars we can go ahead and invest in some shares or something like that. Could
be fun. Right? I have never invested in shares. So. Alright, let's do it. And making the call.
Now as unrecorded this episode, when I reached my first thousand dollars for the thousand
dollar projects, we're going to go ahead and we're going to set up a share account and
we're going to invest in some shares the way that cannot talks about it in her book. So
we will revisit this book in the future when I reached that amount and you guys can keep
me accountable to that.
So yeah. Overall, I really liked this book. I liked the concept of it. Really the core
concept is what you want to take out of it. So if you want to check out this book, go
to On-property Dotcom data you forward slash project, and that will redirect you to booktopia
where you can go ahead and purchase that book. That's an affiliate link. So you go through
that. I do make a little commission from it. Not a lot of money. It doesn't cost you any
extra, but it does help support the channel. So again, that's on property.com, forward
slash project. And if you want to get the audio book instead through audible, I am an
audio book lover. Go to on-property dot com dot a u forward slash project audio and that
will redirect you to the audio book. We can get it through audible. You can start with
a free 30 day trial so you can technically get the book for free.
If you cancel within 30 days, they won't charge you so you could get the audio book for free
using that link as well. So that's on property.com. Forward Slash project audio if you want to
get it on audio book. Yeah, that's it from me today. What did you think about this book
review? Should I do more book reviews on some of the stuff that I read because I do read
a lot of books and I've got a bunch of great recommendations. If you guys are interested
in it, you can go ahead and check out the show notes of today's episode at On-property
Dot Com dot a u four dash 5:46. So in those show notes, I'll link up to the books. I'll
link up to the audio book. I'll also link up to Canada Campbell's youtube channel so
you can check out her youtube channel and subscribe to it over there as well. Thanks
so much for watching today, guys. I hope you enjoy this episode. Don't forget to subscribe
to the channel as we've got new episodes coming out every single week, day and the episode
tomorrow is awesome. I absolutely loved that episode. Tomorrow I'm talking with Simon Everingham
about how we are looking at investing in property. So that's a really exciting one. So check
that out and until next time, stay positive.