you know every day you choose if you'll be rich or poor in the future sometimes knowingly and other times totally unintentionally this is the only video on this topic you'll ever need to watch and by the end of this piece you'll have a clear idea of what's actually happening and you'll have a game plan that'll solve this for you let's get to it welcome to alux the place where future billionaires come to get inspired number one taking bad money advice from poor people you've been lied to by many generations who have no idea what they're
talking about growing up you've been told the key to wealth is to get a well-paying job that pays you a good salary right Society has normalized going into hundreds of thousands of dollars worth of debt into kids finishing University by perpetuating this old lie but the brutal truth is you will not get rich working for someone else also stop taking advice from people who are not successful talk to people who are where you want to go by not making this choice you end up surrounded by people and they become your friends you are the average
of The Five People You spend most of your time with hang out with broke people guess who's going to be the sixth you need to be able to take responsibility for your situation even if the game is rigged against you figure out a way to escape the system through skills that have economic value if all you know how to do is flip Burgers you're not going to get very far there are two ways to improve your value and they work hand inand first what skills you have and second how much people are willing to pay
for putting those skills to work in the age of information being ignorant is a choice okay sort through the find quality teachers and start learning number two gambling and the lottery luck is not a strategy nobody's going to save you okay Jesus ain't coming down to pay your rent and no lamp has ever produced an actual Genie life is a probability game the more you understand this the quicker you'll stop being poor all rich people do every single day is focus their efforts on improving the probability of them making more money poor people leave this
probability up to the universe and with their future the moment you're not writing the future for yourself that's when you get whatever is left over whatever crumbs others are willing to throw your way life is about control get as much of it as possible control yourself and your environment until the future becomes predictable once you've got control you don't need luck number three spending money on things that you want but don't need every time you buy something you don't need realize that you've been marketed too someone convinced you to trade your hard-earned money for a
feeling poor people are quite profitable companies and marketing people understand this very clearly and that's why you see all of those broke people trying to flex on the gram poor people think that rich people wear Gucci because Gucci is paying celebrities to wear the brand so they can sell more to poor people you're being marketed to all the time because poor people are bad with money that's the Paradox of growing up broke you stay broke by trying to fill the hole that growing up broke left inside of you please remember that if it's on sale
but you don't need it it's still expensive and you shouldn't buy it number four not knowing how much money you spent last week last month or last year y'all just spend money the second it hits your account don't you every poor person out there complains they don't have enough money yet none of them know where their money goes you think tracking your expenses is hard you know what's even harder staying poor and not being able to afford anything wake yourself up and realize just how much money you're unnecessarily spending on subscriptions and stuff you don't
need that money could go toward paying off your debt or plugging your other money holes poor people are good at surviving with little to no money so when they do get paid they're quick to spend it and return to their default out of fear that somehow it'll be taken away from them by life every resource out there will talk about budgeting and planning and yes that is the way to do it but as long as money coming in in subtracted by money going out equals zero measure how much money you've got coming in and track
how much you're spending it's the first step to realize just how fragile a position you find yourself in number five spending money you don't have on things you can't afford anyway this is the deadliest combination out there why are you spending money you don't have debt is modern-day slavery okay the moment you borrow money to buy anything the corporation owns your time until that money is repaid with interest the first thing you need to do is to stop wanting things now instead only buy it when you can actually afford it and you know A good
rule of thumb is if you have to ask if you can afford it you can't afford it nobody needs to have an internal debate when you're picking up chewing gum at the cash register you just buy it because you can afford it you know damn well you can afford 10 to 20 of those orbits if you can't buy it twice you can't afford it borrowing money is a horrible habit that is systematically keeping the general population poor be wary of lending other people money too for while it's with them it ain't earning anything for you
Banks and Loan Sharks are the only ones who profit out of lending money everybody else is just being bled dry number six trying to keep up appearances people will sacrifice their own future just to impress people they don't like the more you think about about it the more you realize just how foolish that sounds why do you feel the need to spend 100K on a wedding when you could invest in a business or travel the world with your loved one why do you need to have a kid just because your friend had theirs we're proud
people and we don't want to be perceived as inferior and that's exactly how you end up poor long term because the things that get you out of poverty are the exact opposite direction stop playing status games there's a hidden rule that poor people don't know the appearance game cannot be won the second you get up to date that is when the goal post moves what you end up with is called the red Queen's race a concept from Alice in Wonderland where you have to run as hard as you can just to stay in the same
place that is why you can never win this game you need to keep spending your money just to stay in the exact same place number seven having only one source of income now this is where we see some butts clenching up because who can afford to work yet another job well you see for poor people working a job is the only way they know how to earn money and as we established early on working a job will never make you rich on top of that there will always be a ceiling to the number of jobs
that one can work and respectively the amount of money that one can earn plus if a car runs you over and you can't go to work for the next 4 months none of that income is coming in is it the the math is simple here the more streams of income you have the less likely you are to go broke Research into the distributed wealth of the rich shows that 65% of self-made millionaires had three streams of income 45% of self-made millionair had four streams of income and 29% of self-made millionaires had five or more streams
of income poor people earn money only while they're working it doesn't matter how much money the side hustle brings in as long as it keeps dripping while you're away from your desk if you're unable to earn money while you sleep you'll never be rich the moment you taste the freedom of working for yourself and having multiple income streams you become unemployable and you know we've got a dedicated video about 15 assets that are making people Rich that you can check out by clicking in the top right corner watch it after this one and pick any
of them as your side hustle number eight wasting money and time usually on entertainment when everybody has the same number of hours in a day the difference in long-term results comes from how many of those hours we use to better ourselves if you're in your 30s and you're broke it's because you procrastinated in your 20s you want to be rich every day spend more time on creation than you spend on consumption this creates a value added Surplus in your life pay attention to what you're creating understand the fundamentals mentioned earlier about earning while you sleep
sleep and it's just a matter of time until that residual income becomes decent if you want to start your wealth building process replace the dead times in your day with productive activities follow up by cutting back on entertainment it'll be a pain in the butt for a while sure but you'll see things get better fairly quickly if you're broke you can't afford entertainment anyway you can't afford to waste time because wasting time is the most expensive thing around number nine go going YOLO thinking shortterm versus longterm anyone remember when YOLO was an actual thing stop
sacrificing the future for the present when the present isn't that good screw Living Rich and dying broke okay the entire Flex culture and this attitude of living in the moment does nothing but harm the poor parts of society it keeps them poor by selling them the dream fundamentally poor people buy things that don't hold value and it gets worse poor people pay interest when they borrow money to buy things that depreciate in value over time the average car will depreciate 63% in the first 5 years not only are you losing money every year but you're
also paying interest on the money you borrow to get it you're getting screwed from both ends yet you Flex that new whip on the Graham right well who's actually laughing when the lights don't turn on at home every self-help book product video and so on boils this down to a single piece of advice choose longterm over shortterm get it backwards and you will be generationally poor number 10 not learning how to invest and being afraid of change if what you're lacking is money why don't you spend some time learning how money works it's usually because
of arrogance right people falsely assume that they understand money because they've seen it in other people everything you need to know about about money is available for free there's more valued offered for free on our Channel alone than in an MBA or Elite coaching programs that we've attended yet something keeps people from taking action Moment of Truth this is just between you the viewers and us how many of you actually own at least one stock in any company how many invest a minimum amount of their daily time on their education not very many and you
know what we are changing that narrative we create the only tool out there specifically designed to help you level up and reach your personal and financial goals in a fraction of the time it would take you all on your own with the alux app you get daily coaching sessions and collections of lessons written and delivered by industry experts essentially the app is a high performance coach but infinitely more accessible it's not cheap because we've poured millions of dollars of value into it but if you scan this QR code on screen you'll get 25% off the
yearly membership it'll cost you about the same as one nice meal for a Year's worth of valuable coaching start your journey today alux.com slapp number 11 spending first and then hoping there's something left to save or invest when you're done now poor people tend to do another thing the rich consider to be backwards they get money they spend it and save or invest whatever's left at the end but as you probably know from your own experience there's never anything left is there that's why two out of three Americans live paycheck to paycheck when the rich
get paid a portion of that money goes directly into Investments or savings accounts and then they proceed to go through that month with whatever's left this works because the focus is always on increasing income through those Investments but instead the average person goes on a spending spree this is also fueled by the rise of social networks 57% of Millennials say they overspend because of something they saw on social media when you see all of those celebs going to the maldi you start to Crave that as you associate that with happiness and success this develops what
we were talking about earlier that fomo that fear of missing out so you spend even more what most people don't realize is just how fake social media is we are a sad generation posting happy pictures for internet points every experience posted takes away from that actual experience everything posted has become an advertisement if not for other Brands than for your own Brand number 12 paying too much in taxes it always blows our mind how poor people are happy when they get a tax refund that is money that you loaned to the government with no interest
they used your money for free but that's not even all of it poor people get taxed very differently than rich people and we've covered this before if you're working a job the state takes out your taxes straight from your paycheck and then you're left with the money you spend if you're a business though you first get to spend how much money you want to spend and then the state taxes what's left number 13 an unhealthy lifestyle almost every unhealthy habit that you have in your life is making you poor cigarettes yep making you poor alcohol
same deal eating fast food on the couch binge watching anime poor not only do these create Financial addiction taking money directly out of your pocket they also serve as a domino effect connected to everything else in your life being unhealthy affects your performance you're less likely to get a job promotion and more likely to have complicated heart problems which will result in an enormous health care bill since you live in America and health is for profit here it's the old idea that if you don't fix a cavity you'll soon have to pay for an implant
take a moment to look around you right now and see all the junk that surrounds you you paid for most of it and it is affecting your health number number 14 wanting money to be easy and fast for some reason the idea of progressive growth in income and wealth doesn't resonate with poor people every single one you ask will tell you about how they want to hit it big have a big score and then retire they grow up looking at the likes of Pablo Escobar Tony Montana Don Corleone they all think of themselves as Mobsters
or people on the Underground who have something big cooking you know the type right they're usually flimsy not creative and not overly smart it's dumb okay put that same time an interest into learning how people build companies and do what everyone else did in your area it's not rocket science it's actually a lot easier to make a ton of money legally than it is trying to run a cartel okay in the age where a 16-year-old with an Instagram account can become a multi-millionaire why risk getting shot at making money is actually a boring process once
you figure out what you have to do it takes less than 10 years for anyone who's committed to go from poverty to wealth yet for some reason it's still too long for some of them that's why they fall into the Trap of getting rich quick schemes or multi-level marketing PLO as long as you live remember this okay there are no get-rich quick schemes there's only someone getting rich off of you and number 15 staying poor is a choice the habit of thinking of yourself as poor as someone who will never be wealthy as someone who's
not smart enough good enough enough educated enough is what is actually keeping you poor people with less than you have managed to escape poverty yet there you are complaining that things don't come easy to you yes okay life is hard maybe it was a lot harder for you than everyone else but what are you going to do about it drown yourself in the misery of it all or pick yourself up and start walking as long as you keep going keep learning and improvise along the way you'll end up where you want to be at the
end of the day you can't choose where you're born who your parents are and what the environment you grew up in is like but at some point it all switches over to you you can choose what your life will be like how much you're willing to work and what the future holds for you Bill put it well when he said if you were born poor it isn't your fault but if you die poor that's on you we take pride in the quality of our audience and your desire to actively improve your life so we want
you to join this conversation what behaviors did you experience or witness that are keeping people poor let us know in the comments and as for those of you still watching of course there's a bonus waiting today's bonus is limited versus unlimited output so for the bonus part of this episode we want to share with you the idea of limited versus unlimited output or in other words linear versus exponential Returns on your work so even today most people think of money in linear terms because well that's how we were brainwashed to think that's what the world
was like when they grew up for them if you put in 8 hours of work you get 8 hours of output this was true when you were hand making bricks or chopping wood but it doesn't apply to the world that we live in right now only poor people do linear work everyone Rich has figured out how to do exponential work and exponential work uses leverage or multipliers to achieve greater results this piece of content is exponential work it took a while to create it but it will be consumed by millions of people throughout time it's
Unlimited in terms of the return it can generate unlike a bakery where if I make a pie and then I sell it well I have to make another pie to sell more that's where the Golden Nugget is depending on your ability to perform in the market you fall into one of three categories of nonlinear work okay work will get you a multiple of one good work gets you a multiple of 10 amazing work gets you a multiple of over 100 100 please pay close attention to this because it can dramatically alter the course of the
future in order to be able to use multiples you'll need to work with your brain not with your back let's say you design a logo or write a book if it's just okay you'll get paid for the time you put into it and that's all if you do good work maybe you'll get some referrals and the business will slowly improve if you do incredible work you'll become a brand the logo makes you famous the book becomes a best seller the song becomes a hit and everything else around you blows up that's why you should always
strive to do amazing work the returns are just mind-blowingly good what's even crazier is that you only need to get it right once and all of these doors that were previously inaccessible to you are now open the modern day is meritocratic intellectual work knows no borders we don't care if you're in Nairobi sou Paulo or Cupertino good ideas have a platform on the internet and are widely available to the masses code is nonlinear content is nonlinear authenticity is nonlinear good writing good branding everything where creativity involved is nonlinear it's just a matter of figuring out
how to use your brain instead of your back and delivering amazing work instead of just okay work that is where those X's start piling up now I hope this bonus is actionable enough for you the true alux to put in the work rid yourselves of the habits mentioned in this video and write the word money in the comments after you like this video we'll see you back here next time my friend until then take care
