#026 The 3 Ways To Control Money: Do You Know Them?

There are only 3 things you can really do with money. Are you aware of what they are?

***To get better control of your money and your life, create a Lifestyle Strategy using the FREE template on my website at www.everything.money

Don’t overthink this, they’re pretty easy. But if you can’t name all three immediately, it shows that you don’t keep this top of mind and that’s a problem. I’ll give you the first and most obvious one.

1)    Spend Money.

I chose this first since this is usually the first thing we think of when we get a payday. We spend money on bills. That new pair of jeans we needed. Toys for the kids. That vacation we need so badly after being locked inside the past year.

Spending money is how we are conditioned by corporations who spend billions of dollars a year on advertising in order to get our money. In entertainment, we glorify people who talk about spending a lot of money on fancy cars and caviar. It’s part of our culture and plenty of other cultures around the world.

So unless you had a very strong familial influence to point you to the contrary or some other experience or strange personality trait, this is probably your first thought when you get $1000. 

Money comes in. Money goes out. The cycle is simple and forever repeating until the day you die. Yippee.

Okay, let’s get to the second way to control money.

2)    Save Money.

So this was probably your second guess. Probably because it’s usually your second thought. I’m revealing these in terms of order we think of them, if we think about them purposefully at all.

Maybe you took an online course or had a financial advisor tell you saving money is a good thing. Then, even more rare, you actually listened and took action!

Did you know that pre-COVID, 2/3 Americans could not pay cash for a $500 emergency! We are one of the richest countries in the world. Trust me, it’s not because we can’t afford it. It’s because we don’t prioritize it.

It’s like I tell a lot of people…if you don’t control your money then someone else will do it for you.

Saving up 6-12 months of expenses is the foundation to your financial stability. Think about COVID. If you were able to keep your job that’s amazing but many lost their jobs or couldn’t go to work because they were shut down. 

How would your life be different if you had 6 months of your monthly expenses saved up?

Saving money isn’t about saving money. It’s about security. It’s about peace of mind. I

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About the Podcast

If working a 9-5 for 60 years so you can retire with a little money and die a few years later is what you want to do, then this is not the podcast for you.

Stephen is an executive coach that works with executives and entrepreneurs to build the life that they want, personally and professionally.

This podcast is about contrarian investment strategies around time, energy and money to build the 4 types of wealth and utilize lifestyle design to create the life we want. The interviews are with hi-earning individuals on how they make money so you can copy us and grow wealth too!

Reaching that first $100k milestone is crucial and then the game changes.

Learn how the wealthy view time, energy and money so you can apply these proven strategies to your life.