Let's learn about his ten commandments of money from billionaire Grant Cardon.
1. Never use it until you get it.
The money is not mine until the money enters the bank account. So when signing the contract, everyone laughs because they like it, but they haven't come in yet. You have to spend that money after it gets into your account, okay? Tomorrow's money is never yours.
2. 40% rule.
This law is too important, but most people never do it. 40% of the 100% of the money earned pays taxes. If you can pay 40% to the government, you should be able to give 40% to you. Do you agree? You have to find a way. Anyone pays taxes. The government doesn't trust you, so it withstands you first.
That's how the government takes care of its own first. It's a very smart decision. Then you should invest in you, too. That's how you live with the remaining 20%. Of course, life will be hard at 20%.
But you have to do it. And you shouldn't change your lifestyle until that 20% increases.
Don't rent Lamborghini. Someone came to my house in that car last time and it was really stupid. What are you doing? "1.7 million won is nothing." But I hear that.
'I don't have rules for spending money.' We need to establish rules about money. If you cheat on money, money will cheat on you soon, and if you ignore it, money will ignore you. And if you don't manage your money, money won't take care of you. Please believe me. "The Rich" that you hate. The children's drug problems and their marriage are broken, but the "rich" who built up such wealth received the price of paying attention to money.
At least there were rules about money.
Unfortunately, their marriage and child farming were not good, but it had nothing to do with their money. I didn't invest time in things other than money. This is like a game. I didn't change my lifestyle either. As long as 20% doesn't change 20%. This is the amount of money I live and I have to make a decision within this 20%.
What happens if I go bankrupt? I can't maintain my lifestyle. What should I do then? I'm lowering the standard of living. Or control your lifestyle. If it doesn't work, you have to make a profit. So don't buy expensive Richard Mill watches, Rolls-Royce, or private jet.
You want to buy Gucci belt? What are you thinking? You can't fool anyone with that. Something that makes you look
3. If you can't buy it in a lump sum, don't buy it.
This law will filter out the decision. If I can't pay in a lump sum, I'll never buy it. Likewise, if you can buy it in a lump sum, you will be more willing to buy it.
4. Don't own it, rent it, lease it.
You don't have to own anything yourself. Use it differently.
5. Raise the main source of income first.
Before adding the second income, pay attention to the main source of income first. Don't quit the main source of income to make a second income. I make my second income while working. People say it's their second income,
but they sell baseball cards. Find a baseball card on eBay for 3 hours. What the hell is that? You can earn 40,000 won at work, too. In just one day. Why do you do that? Is that called the second income?
I just earned 40,000 won from working for 4 hours. It's 10,000 won per hour.
But at his company, it's 30,000 won per hour. I'm going to calculate what the world recommends.
6. The 47 hour rule.
Anyone who works 60 hours a week? Then who works 80 hours? A lot of people complain. I worked 100 hours this week.
Don't complain and be proud. Because everyone can't work. When I get old one day, I'm like, "Ah..." I want to go to work. My body doesn't follow me.' So stop complaining. Everything can be 'complained' or 'bragged'. I work 100 hours a week, too. Remember when you were working part-time. I remember when I didn't think much about it. All the successful people I've looked for work 100 or 140 hours a week. Or he worked without a break.
For example, Bill Gates. "If I'm hungry, I eat, if I'm sleepy, I sleep, and the rest I coded." That was my routine.' Bill Gates used to eat, code, and sleep when he was tired. That's how he grew up unbelievably. When China tries to tear Bill Gates apart and steal Microsoft, Bill Gates says, "If China steals software, the company must be Microsoft."
I think the idea is great, too. If anyone wants to steal something, I want the product they want to be ours. You have to change your thoughts like that.
The meaning of the 47 rules is that even if you work for 40 hours, you should work for yourself at least 7 hours a week. I'm telling you to read an hour a day at least. Everyone talks about reading books. Warren Buffett is proud of reading 3-4 hours a day and not reading some.
'I've never read a book. All books are for fools.' But those who have achieved tremendous success, billionaires, always read. You have smart people around you. But you don't like reading books? Is there anyone here who doesn't like reading books? You have to read it no matter what. Whether you like it or not. Like I don't want to exercise, but I have to.
7. It's okay to be broke.
Cash is trash and you don't need money and cash. Cash is a piece of trash. My parents didn't teach me. So you must invest and use it. It's not worth it until then. Listen to me. Money is worthless until it is rolled. It's just a piece of paper. But everyone acts like money is sacred.
'I'll protect my money and keep it well. Since this money is mine now.' But the money is countless.
Just like a piece of paper. The time when money becomes worthwhile is when I take it out of my pocket. You have to take it out of the system and roll the money.
8. Don't lose money and use it wisely.
Never lose money. If I left $100, how likely would I be to lose my money? On the contrary, if you do marketing with this money. How is it more valuable to spend money if you buy Facebook AD with this money or invest $100
in videos that have earned a lot of exposure from our YouTube videos to give them a chance to see a few more people? Don't lose it like that and write it smartly.
If you hide cash in the house and roll around with cash like that, you'll lose 100% of your money. You'll lose your money even if you leave it in the bank. Because it'll be negative interest rates. The United States is going to negative interest rates, and we will go to negative interest rates, too. Germany is already in negative interest rates, and so is Japan. From 3 to 5 years ago.
Now this country will have negative interest rates and earn 0.0012% if you put them in the bank. You'll earn 1/8 of the 1% interest. Welfare investment was huge in the 70s, but it doesn't exist today. 0.001% of people should never invest in welfare investment. Because it's a decimal point of 1%. Don't think about making a profit from bank benefits.
9. Not "cash", but "cash flow".
"Cash flow" is what we want. I don't want cash, it's cash flow. By investing, the flow of money is set on the 17th of every month.
10. Don't give up until you achieve your economic goals.
Don't give up until you achieve your goal. Never give up until you achieve your desired wealth goal. There are two or three billionaires here among those who are reading this now. The question is who will be that? I mean, you can think of it as possible.
Someone might think they can't. But someone thinks it's possible. That amount of money is available at any time. Everyone knows about themselves. Also, someone knows it's something to do, so go and try it. Because the money is all over the place. My mother was Italian and didn't know anything about money. She only knew to save money and coupons and taught her to always save money.
Collect dust and save for the future. Don't leave any food and eat."If you can't finish it, leave it in the refrigerator."
I'm sure you guys have 3 to 5 days old food in the refrigerator now. I don't even want to eat it. Eventually, everyone will raise their children like that. I'll teach you the same nonsense. Don't leave any food and eat everything clean. Everyone lives in a rich country, but they are always lacking in mind.
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