- Okay, here's a question for you.
Let's say right now someone was to give you
a million dollars.
Comment below.
What would you do with that money?
What would be the first thing you would spend that money on?
Go ahead, comment below.
What would you buy?
How would you utilize that money?
Now for most people, that money would have been gone
very, very quickly, just like that.
They would say, "I would pay off that debt.
"I would give some to my family.
"I would buy that house.
"I would buy that car."
For most people, they would kind of blow their money
very, very quickly.
You see today, I want to talk to you about money,
how to get good with money.
I think the biggest problem with most people,
including myself when I was getting started,
is we were taught to spend.
You think about all the ads,
all the stuff that we see on TV,
we are taught to be a consumer,
we're taught to be a spender,
and I believe in life, there are two types of people.
You have spender, and then you have what I call investors.
We either spend our money on something
when it comes to money,
or we invest the money into something.
Now it's very easy to be a spender
because there's so many things that we want to buy,
there's so many things that we want to own.
Don't get me wrong, I like nice things too,
but we are taught to get rid of money very quickly
and that it's normal to live paycheck to paycheck,
it's normal to have very little in the bank account.
Look at most people's savings, right.
In North America, most people have no savings.
They have very little money in the bank account
and they have a lot of debt.
It's very normal, everybody has debt and they
don't think about that in order to accumulate wealth,
in order to be good with money, to be a master,
not a slave of money, you got to save
so that you can invest.
Not save because you're frugal, you're being stingy,
you're being cheap, but save so you can accumulate,
that's a better word, so you could invest.
When I say investing, I don't just mean that investing
in the stock market or in real estate,
it could also mean investing in yourself,
which is the best investment there is.
You could be reading a book,
or taking a speaking course,
or learning from somebody, but investing in yourself.
So every dollar that comes in your life right now,
if you want to be good with money, are you a spender?
You just think about what are you going to buy,
what are you going to spend the money on,
or are you thinking how could I invest this dollar?
How could I invest this $10?
How could I invest this somewhere so the money will grow?
When you make that paradigm shift, that mindset shift,
looking money not as a tool so spend,
but looking at money as a seed that you can plant
that you will grow.
That changes how you deal with money.
So you get your joy and satisfaction and fulfillment
from actually seeing that money grow,
but not as a spender of just,
you just got to spend that money and then it is gone.
Now you might say, but Dan, I'm not making enough money.
Once I make enough money, then I will invest.
This is a lie.
As a human being, we are very good at deceiving ourselves
because that's how I used to think.
Think about it.
If you are not right now, if you're not investing $20
buying a book or something like that,
or doing something, or that $100,
when you're making 10, 20, 30, 50,000 a year,
what makes you think you're going to invest
thousands of dollars when you're making,
let's say $200,000 a year?
You won't because you don't have the habit of investing.
It is not the amount that counts,
it is the habit that counts.
If the little money that you have you're not investing,
even a few dollars, a few bucks, bigger money,
you definitely won't write that check
because you're not writing that check
even with the little money that you have.
So it is the habit that makes all the difference
in the world.
So my recommendation, it is just start small.
Even if putting aside as little as a few dollars,
put in a little jar.
I don't care, right, it's just a few bucks.
Let it accumulate, get in the habit.
Even though you're in debt, that's okay,
you got to pay off that debt, but you need to develop
the habit of accumulating capital
so you can deploy that capital.
In the beginning, maybe you don't have enough money
to buy an investment, to invest in whatever.
Buy a book, buy an audiobook, take an online course.
$10, $20, $30, $50, $100, whatever it might be,
but get into the habit of investing.
That is truly the key.
And start off by developing the habit of reading,
of learning, of growing and upgrading your skills.
There's so many good books out there
and so many of my friends asking what book to read
and of course, not biased, I recommend my book "Unlock It."
If you have not read my book, I do recommend it.
You can click a below and get a copy today,
but there's so many good books out there
by Napoleon Hill, "Think and Grow Rich."
There's so many good books on motivation,
on success, on business, I mean, there's so many of them.
But just start somewhere, right,
making that paradigm shift, developing the new habit
of an investor and not just a spender.
And that's the very first step that you need to take
to be good with money.
Until then, I'll see you in my Bentley.