Understanding Money Management and Wealth

So as I started to

learn these things, I realized that...

And over the years, I realized that in simple terms, money

goes when you buy,

comes when you sell-

Mm.

-and grows when you invest. That statement looks-

Mm.

-easy, but I summarized it like that.

If I never buy something, money will never leave me.

Mm.

All the money you ever had left you because you made a purchase.

Mm.

So if I can be intentional about how I

spend,

money will stay longer with me.

Mm.

If I'm intentional about budgeting, money will stay longer with me.

Mm.

If I'm intentional about planning, money will stay longer with me.

Money comes

when you sell.

Mm.

I tell my children all the time, "How does money come?" They say,

"When you work."

I say, "No. Money doesn't come when you work." Ask people

that their own salary.

They know that

you can work-

Mm-hmm.

-and they will not pay you. But you can't sell

and they will not pay you-

Mm.

-except you sell on credit.

Mm-hmm.

I can't walk into a store now and pick something and say,

"I'll be back." Back for

what? You either drop it or you pay.

Mm-hmm.

So when I found this, I said, "Many people are not selling." Many

people are not intentional about learning how to

sell, learning how to market, and then money grows

when you invest.

Mm.

So on my journey, I started finding out things like the

Cashflow Quadrant,

ESBI, the employee, the self-employed, the business

owner, the capital investor. It's a book by Robert Kiyosaki.

It changed my paradigm.

Employees exchange their time and skill for money.

They go to work, they work for someone, they exchange their skill set

for money, and that's a fantastic place to start

because it gives you cash

flow.

It gives you predictable income.

A salary may not necessarily make you wealthy, but if you utilize a salary

with discipline, it can teach you the skills required

to become wealthy.

Mm.

So when I looked through my career path, I said to me, "You have to become

a high-value employee. Be the kind of employee that knows

exactly the value he brings to the table in his organization." I

always tell people, no matter how they downsize

in an organization, they will never let go of the security

man, they will never

let go of the gate man.

Mm.

Because his task is very clear: open the door,

close the gate.

Mm-hmm.

The more you do not know how what you are doing in the organization

contributes to the bottom line of that organization, you are not safe.

Mm.

If I'm here to exchange my time and my skill for money, I must know

which skill contributes to the bottom line of the organization so

that I can become a high-value employee.

The Bible is full of people like Joseph, people like Daniel.

They were so high value that regardless of the regime, they

were needed.

So even when I was choosing a career path, I chose a career path that was in line

with my skill sets, my natural wiring,

and I said, "Oh, if I master this skill set and this

is what I bring to the

table in this organization, I'll be indispensable." Even

if they don't recognize me

in this organization, in the course of doing my job, other

people will recognize me and some people will want to poach me-

Yeah.

-to the next organization. So starting out as an employee

is a fantastic place to

start. It's just that understand what you're coming to do.

Mm.

Remember when I got my first job, um, or my major

breakthrough job as a trader,

bank trader. When we went for that, um, was a recruitment

agency. Um, and when I went, they sent me to an

organization. I came back and I gave them feedback.

When I gave them feedback, they told me that I should, um...

Okay, long story short,

I remember we went for the interview there.

The person next to me was telling me, um, "So what did you do for this

organization?"

Mm.

I looked at him, I said... In my mind, I said, "Do you deserve this job?" The

day before the interview, I went to study the company.

I went to find out what they sell, how they sell it, who

are their best performers-