What if it were possible to implement the laws of success of the books "Rich Dad, Poor
Dad", "The Richest Man in Babylon" and "Think and Grow Rich" with only one method, so that
you can solve your financial difficulties and at the same time achieve your financial
goals without any problems?
Today we're going to show you the one method that you can use to do just that, just like
many others before you...
So if you are currently having financial difficulties or you are not achieving your financial goals
fast enough, we will show you today how you can solve this with the help of the Money
Magnet!
But before we dive deeper, hello and welcome back to our channel!
We are the finance nerds and we help hardworking people like you to achieve your financial
goals by sharing our knowledge in personal finance such as saving money, budgeting and
investing, and show you how to make it work for yourself.
And with that being said, let’s start!
As we said at the beginning, today we are talking about the money magnet, which some
of you may already know from an older video of ours.
By the end of this video you should completely understand what the money magnet is, how it
works and what rules you need to follow to make it work.
But where does the principle of the money magnet come from anyway?
The principle itself is old and is described in many success and finance books and is based
on the principle: "Always pay yourself first", but there are a few rules that make the principle
a lot stronger.
We learned the money magnet from a German entrepreneur who was taught it in 2000 by
a very wise man from the USA.
He told him that the advice to get rich with the reserves you build is absolutely wrong.
"This is not in any way about becoming rich through these reserves.
These reserves, if you build them in this way, ensure that more and more money is attracted".
There are universal laws, which Newton also already discovered, such as for example the
law of attraction and further laws, which affect us constantly.
And related to money, we Germans even have proverbs like "money attracts money" or "money
comes to money".
Of course, you can now think of what you want, but we and many other testimonials prove that
the principle of the money magnet works.
It would be fatal to explain the money magnet logically or mathematically, because it is
in no case and it is not possible to explain it with something like that.
We use here the laws which work unconsciously like for example also the gravity.
The money magnet not only makes you attract more money, but many report that they have
completely changed their entire financial mindset and way of life.
One testimonial reported that he stopped smoking as soon as he started installing the Money
Magnet.
And this person also said: "It is not in any way about getting rich through interest, but
about changing your attitude, your feelings, your self-worth in a positive way".
And now we dedicate ourselves to how exactly you set up this money magnet and what special
rules you have to follow so that it really works and unfolds its effect!
So now, how can you install a money magnet and how does it really work?
For the money magnet to work, you need to constantly feed it with "energy".
In this case, the "energy" would be money.
That is, every month when income comes into your personal account, whether it is through
salary, sales, bonuses or refunds, 10% of that amount is transferred to a separate account.
So basically, at the end of the month, you sit down, check all your income, add it up
and transfer 10% of the total to a separate bank account.
"Nothing new" you probably think to yourself now, right?
What's special about it are the rules that come with it.
1.
it should really be a separate account.
2.
preferably at a completely different bank.
And 3.
best is to throw away your card and pin for this account and never touch it again!
But let's briefly clarify why you should definitely have the money at another bank and why exactly
10%.
A separate account is finally better suited, because you have a bigger hurdle to use the
money for something else and you also forget it faster, which also leads to the fact that
you do not get the idea to use the money for something else!
Why that is the biggest mistake, we will explain later!
Why 10% of the income?
10% is not fixed of course, and everyone can decide for themselves how much of their income
they want to transfer to the money magnet, but experience tells us that from 10% you
will get the desired effect much faster.
Now we come to the two most important basic rules in dealing with the Money Magnet.
The first rule: Never neglect the money magnet!
In order for the desired effect to really work for you permanently, it is incredibly
important that you constantly supply the money magnet with "energy".
As soon as you stop or suspend these payments, the money magnet will no longer work.
This can even go so far as to decrease your overall income and turn all positive financial
effects completely against you.
As an example, if you got a raise with the installation of the Money Magnet and you now
suspend the payments, you may lose your raise or even get less salary than before.
There are actually only 2 disadvantages of the Money Magnet:
1.
it is so simple that it is easily underestimated 2.
just because it works so well, you start to destroy it.
The 2 rule: Never never never withdraw money from your money magnet.
Just like rule 1 you start to destroy the effect of the money magnet.
So here again are the exact 5 steps to set up the money magnet:
1.
create a new account at any bank.
2.
note that the account has little to no cost in terms of account maintenance fee.
3.
make sure that it is not a stock account or any other account with high volatility.
4.
transfer 10% of your total income every month.
5.
the most important step: never withdraw anything from this account or neglect the monthly payments.
But what if you have debts?
Is it even worth setting up a money shortage if you have debts? shouldn't you rather use
the money to pay off your debts?
As I said, since the money magnet does not work logically or mathematically, it is difficult
to find a concrete answer, but this is our approach:
Divide the 10% into 5% for debt payments and 5% for setting up the Money Magnet.
The Money Magnet is simply an account that has money in it, whose balance is constantly
increasing, causing more money to come in.
That's all it is, you can't explain it logically and hence the approach of doing both at the
same time.
Because money is also only energy and mathematics, debt interest and yields are not everything.
With the money magnet you change your complete financial way of thinking and start to live
in abundance despite debts, this will also help you with debt payments.
The Money Magnet will help you solve your financial difficulties and achieve your financial
goals faster whether you want to become a millionaire, retire earlier or live financially
free.
And if you want to achieve financial freedom, watch the video in the middle now!
If you enjoyed the video hit the like button and if you haven't already, subscribe to our
channel so you don't miss out!
We hope to see you in the next video.