I don't know about you but whenever i used to see someone driving a fancy car
or owning a massive home i always used to ask myself how they were able to
afford such nice things when just about everyone else struggles to get by
financially fortunately after becoming acquainted with more and more wealthy
individuals i've come to learn that there are certain money moves that these
people make that the rest of the population overlook that leads to their
success what are these money moves i'm referring to here are 5 hacks that the
financially successful people among us use to get ahead in the game of money
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life changing content number one house hacking when i was growing up i would
play endless amounts of pokemon on my game boy color yes i know how this makes
me sound as much as i played this game with all the free time i had the trouble
was that i was still struggling to catch them all and as a young kid this
frustrated me to no end then it happened i learned that i could buy a device that
i could use to hack the game and lo and behold within hours of purchase i was
sitting with my dream roster pokemon well you may not care about pokemon
especially at this age i bet you'd love to be able to find a way to hack your
finances and if you are then look no further than house hacking now you may
have heard house hacking before but if you haven't then i will briefly go over
what it is and how it can give you a massive financial advantage on your
quest to impressive wealth house hacking at its core involves acquiring a real
estate property and renting out enough asset properties so that your own living
accommodations are covered by the rental income the unit earns for instance if
you own a property and it has a mortgage of 2 000 a month and you rent out enough
of the home to cover set costs while you manage to live in the unit then
technically you are living there for free or at least at a massively reduced
cost this is generally done via multi-unit property like a duplex or a
triplex however it can be done using a single family home too the point is that
you're living in the property while collecting enough cash from your tenants
to cover the majority of your costs in some situations the money you collect
will only be enough to cover your mortgage and others it could cover your
mortgage taxes utilities it really just depends on the setup you have in place
now being able to live housing costs free or at least close to it may seem
like an incredible opportunity and it can be but before i share how powerful
of a tool it can be to speed up your wealth building timeline we need to
discuss a couple downsides of this money making approach the obvious obstacle
that presents itself on house hacking is the offer on capital required to
actually do it buying a single-family home let alone a duplex or triplex will
be a very capital-intensive process requiring you to have enough money to
finance the down payment and ensure that the property is suitable for the tenants
you want to take on speaking of tenants some can be a royal pain in your ass so
this is another issue you may have to deal with if your goal is to live in
your property for free however if you can pull off this financial magic trick
then trust me your ability to grow your wealth will have increased substantially
for most people the housing costs make up about 30 of your overall expenses
imagine freeing up that much money every month and investing instead you can see
how this can lead to much faster wealth accumulation simply by adjusting your
living situation to maximize your free cash flow rather than your free house
space therefore the first money hack you need to consider if you want to make
exponential leaps forward in your financial journey is house hacking
number two living with your parents if i had a dollar for every time i took a
girl out on a date and had her walk out of me after i told her i still live at
home i honestly think i could retire it's happened that often the silver
lining to these disappointing times was that at least when i went home to cry on
my bed that another girl had rejected me i could do it on a pile of money money i
had been able to save because i leveraged the financial benefits of
living at home hit the like button below if you wouldn't mind sleeping on big
piles of money yourself tonight now i know that most people are going to pass
on living with their parents in order to get ahead financially either they don't
have parents to live with the relationship isn't the best or they
simply want their own space i appreciate all these situations and i admit that it
takes a certain setup for living with your parents to work fortunately i have
two of the best parents in the world and given that i'm italian living at home
until your late 20s is basically encoded in our dna living at home definitely
sets you up to be miles ahead than most other people at my age but i'd be lying
if i told you that there were no downsides to using this money hack until
you're well prepared to take on the world on your own the two most glaring
issues with living with your parents relate to privacy and relationships i've
come to realize over the course of my life that parents aren't the biggest
fans of knocking before entering the room nor do they shy away from listening
in on your phone calls so while living at home can help you pad your bank
balance it doesn't come without its costs moreover relationship wise there's
a delicate balance when trying to pull off this maneuver first you need to
manage your relationship with your parents if you get along then you're in
great shape however if every day is a battle then no amount of money saved
will be worth entertaining this style of living alternatively you will likely
take a hit in the dating department but nothing worth having comes without its
sacrifices and if you can weather some storms now the rest of your life will be
filled with sunny days number three leveraging other people's time we've all
believed some pretty crazy things over the course of our lives for instance
many of us used to believe that there was a jolly old man who came down our
chimney every year to deliver us presents or that putting a lost tooth
under your pillow would have us waking up to a crisp five dollar bill but these
are crazy things to have believed in probably the wildest truth you still
believe in is that there are only 24 hours in a day however ask the rich
among us and they will tell you that 24 hours is the bare minimum amount of time
we have in a day and that the opportunities to acquire more time are
plentiful if i had to pinpoint some of the most indicative signs that someone
will become wealthy it's how they manage time this starts with of course being
mastered as their own time but where the wealthy among us separate themselves
from the pack is how they are able to harness the time of others to get ahead
we all know of our own individual time per day is only 24 hours and in that
time we can only get so much done however when we leverage the time of
others we instantly gain access to a lot more productive time why is that
important let me explain to make money you need to provide value in most
situations value is shared via output outputs can be projects you complete at
work the number of sales you close and the list goes on the main constraint to
this output is their own physical time you can only get so much done in the
eight hours you work a day but if you have a team of five people you now have
access to the output that is generated through 40 hours of productive time
instead this is why you see ceos having secretaries and business owners having
assistance and major corporations having thousands of employees because more
output means more money therefore if you want to make more money and get ahead
financially ask yourself how you can leverage the time of others to produce
more and ultimately collect more number four having an accountability partner
we've all been there before you just finished a taxing work day and when the
time comes to lace up your running shoes and get in your daily dose of exercise
you end up on the couch watching netflix instead sure from time to time playing
the lazy card won't do too much damage but i'm sure you can imagine how picking
the office over a run will start to see your health decline when this becomes a
normal occurrence sadly for most people completing these important daily
activities is much more of a struggle than for others and this is where having
an accountability partner comes into play you see having someone that keeps
you accountable can be a useful tool in all areas of your life this individual
can help ensure that you get those important workouts in that you practice
your guitar or in the context of your finances make sure you stick to your
budget the point is left to our own devices many of us will take the path to
least resistance and this path often leads to sub-par results especially when
it comes to those related to our money if you ask me guild is a great tool to
prompt the action you must take to get ahead i know for myself personally i
have an accountability partner that ensures i meet my income goals every
month i have a bad tendency of putting certain income generating activities on
the back burner but if i want to meet the goals i've agreed upon with my
partner then i have no choice but to factor them into my daily routine
therefore pair up with someone who can hold you accountable and when you do
financial progression will be imminent number five starting a side hustle i'm
gonna be brutally honest here the closest thing most people have ever been
to having a side hustle is hustling their butts to the couch to watch
netflix after work let me tell you right now that in today's day and age your
ability to get ahead financially heavily depends on your ability to supplement
your primary income i don't think it's any surprise that salaries and wages
these days are rather pitiful turn on the news or go online and all you see
are people complaining about minimum wage laws or how little their bosses pay
them at their jobs times are tough for sure and you really have two options
whine about it or work around it i truly hope you're part of the second group
because otherwise you are setting yourself up for a life of financial
mediocrity and that's the last thing you want truthfully life sucks without money
unfortunately with a side hustle you can sidestep living this unfortunate life by
making some extra money i know personally when i started to build up
multiple side hustles that earn me a few extra thousand dollars a month my
financial life changed forever from feeling like i could actually read the
missed all the bills i had to having the money to finally make a dent in my
retirement savings the only thing i wished was that i would have started a
side hustle sooner fortunately i now teach others how to do the same in my
core side house of success where i teach my students how to identify a high value
skill that they can use to make thousands extra every single month and
see their financial progression skyrocket if starting a side hustle has
been on your mind you can check out the course in the video description below
and see if side hustle success is right for you at the end of the day the income
you earn is the number one determinant in how fast your wealth can grow as such
if you haven't already you must start building a side hustle that will boost
your income and allow you to harness the power that this money hack has to offer
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