you are watching the sunday motivational video the 15 best pieces of Money Advice welcome to a luxe calm the place where future billionaires come to get inspired Halloway lack sirs and welcome back to this special Sunday motivational video we've been covering money wealth and business advice for several years now so we decided to go through everything and make a concise list of literally the best money advice available it was hard picking and choosing but this is the best of the best we scanned through everything in order to highlight only the most valuable Money Advice out
there here's the deal the life in front of you is more important than the life behind you so pay close attention to what you're about to learn if you follow even one of these pieces of wisdom you'll do well financially if you follow more than one your chances of building wealth in your lifetime dramatically increase with this said here are the 15 best pieces of advice about money and wealth number one focus on increasing your income not on saving this is especially true in the first part of your life when you don't have much saving
to do instead of saving money reinvest it in anything you can test things try things build things all with the purpose of generating more income once you become good at generating income the entire world opens up to you most people only know one way of making money and that's by keeping their awful job don't be that guy number two invest most of your income believe it or not if you want to be rich you can't afford to be spending your income although you're earning money you shouldn't increase the quality of your life until your investments
not your salary allow it the biggest reason some people accelerate to riches is because they live like they're poor when they don't have to the quickest way to build wealth is to invest between 50 and 80 percent of your income and live on what's left number three in only in what you understand here's the truth people lose money when they don't know what they're doing don't be like that if you're passionate about art do art if you're passionate about farming invest in a farm look at what you do in your spare time find a space
where this interest of yours can be monetized and then do that the biggest mistake most people make is they throw money at things they don't understand that's how you end up taking out a second mortgage on your house to buy Bitcoin at $18,000 number four money is a numbers game you have to get comfortable with numbers don't worry your teachers have been bullshitting you with all that complex math all you need to understand is basic mathematics addition subtraction division multiplication and percentages that's really all there is to it you know why because money isn't real
money is a measurement unit it has no intrinsic value it's just pieces of paper with people on it its sole purpose is to help you determine how much value something has and facilitate an accurate exchange in order to measure correctly you need to know math 101 know your numbers how much you make - how much you spend equals how much you're left with number five you can only control the time you put in everyone has the same 24 hours in a day yet not everyone is spending it the same way time is something that is
exclusively under your control you decide if you want to spend the next hour growing or watching paint dry you are super powerful successful people use time to make themselves more successful while mediocre people try to justify their lack of action if someone puts in 40 hours a week and you put in 80 or 100 your growth your success accelerates considerably give it a couple of years and they're so far behind you they'll never be able to catch up you need to stop thinking there are shortcuts in life it'll take you X amount of hours to
make this dream of yours a reality hours nobody else can put in except you be careful when you're sacrificing the future for the present because the present soon becomes the past and the future is inevitable number six let your assets buy your toys big big big wealth building lesson here rich people don't work in order to buy stuff they work to buy money-making machines you know why because if you earn money and you spend it on something you no longer have the money but if you buy a money-making machine you can buy anything you want
with the money that machine is making for you this is pretty simple but a powerful concept you have to embrace in your life not many people know this but there's a point in someone's wealth growth which we call the great barrier where the individual will never be poor again the great barrier is when your money-making machines are making enough money to buy other money-making machines your wealth is actively making you wealthier this is why the rich are constantly getting richer they passed that great barrier number seven always negotiate negotiate everything not because you're cheap but
because you want as much value for your money as you can you probably earned that money with effort the moment you spend it you put a price on that effort remember how money is just a measurement unit the more valuable you can charge for your effort the richer your reality becomes and guess what reality is negotiable you can negotiate a better life for yourself because negotiation allows you to accelerate your growth it means negotiating and getting a raise negotiating your responsibilities negotiating your happiness with your friends or your spouse sometimes it might even mean negotiating
with yourself if you don't like something in your life or want something to change for the better start negotiating for it number eight don't spend money you don't have it wouldn't be a list of the best money advice out there without this one stop spending money you don't have you don't have to keep up appearances you don't have to go into debt just to satisfy your desire for a bigger TV learn to live without one until you can finally afford it debt is the modern-day evolution of slavery somebody owns your effort until that debt is
repaid number nine bet on your strengths higher your weaknesses you are not a Swiss Army knife the best advice one can receive in this department is go all-in on your strengths there are some aspects of life and business which come easier to you than others you find them more natural and people take notice this is your golden ticket to the next level this is where you're able to add the most value it's your edge your competitive advantage now you might lack challenger skills in a particular area but guess what your strength will allow you to
hire and outsource for those and if you don't know where to start become a freelancer for the one skill you think you can do the best there's someone out there who's the total opposite of you and will gladly outsource this deficit to you in time you'll start bringing the money in you'll grow and more doors will open up to you as you do number 10 the more valuable you become the more you earn if you're dissatisfied with how much you're earning the answer is pretty simple do things that are more valuable than what you currently
do the market will pay you for it in exact proportion to your contribution you can get this done in two simple ways one do more of what you already do or more efficiently and to acquire a new skill that allows you to do something more valuable both of these will bring you more income most people focus on the second one long term because the first one is already maxed out you only have a certain number of hours in a day to work use all of them value comes as a result of your ability to connect
the dots and lead to valuable answers the more dots you have the more connections you can make in this case dots or ideas skills human connections habits and more people can lose well due to unforeseen circumstances but you can never lose your intrinsic value nor can anyone take it away number 11 money is a tool treat it as such money makes things go faster like fuel on a fire you don't necessarily need money to build something valuable but the truth is it definitely helps but be careful if you're not used to having tools a chef's
knife is awesome in the hands of someone who knows how to use it it allows the chef to do their job more efficiently and effectively in the hands of a newbie it either doesn't make a difference or even worse it can cause harm the same way with any other tool the more you use it the more comfortable you become around it you even begin to enjoy using it because you know it's so well money is exactly like this number 12 use other people's money to build wealth there's only so much you can do using your
own money wealth building takes time and the returns aren't as high as you were led to believe early on you'll probably just have your own self to rely on invest your time and money until you understand how wealth is created once this is achieved in order to access the second level of wealth you'll need to build a network and leverage it for more success there are certain opportunities or levels in this game of money to which you don't have access to unless you know how to use other people's money many people think it's a fantasy
world that people would just give you money to invest but the rich use it every day this is literally why banks exist you put your money in the bank and then the bank gives it away to someone else who knows how to use other people's money to make more here's a quick example you only have $20,000 to invest so you go to the bank and get $80,000 more that's other people's money in order to buy a $100,000 property you owe the bank 500 dollars per month to cover the 20-year mortgage the property is a good
find so your rent is more than enough to cover expenses and the mortgage your tenant is now paying for your property property prices double every ten years on average so in 20 years when the property is paid in full your twenty thousand dollar investment is now worth four hundred thousand dollars that my friend is how rich people get super rich using other people's money number thirteen learn the fundamentals not the tactics although the environment changes we people stay the same we react to the same things we feel the same things we don't change very much
these fifteen pieces of business advice were as valid 1000 years ago as they are today the only difference is we used gold coins and you probably had more brothers and sisters the problem with jumping on the new hot thing is that tactics become outdated instead focus and learn how to use the fundamentals learn how to sell and you'll be able to sell anything as long as you live learn how to talk to people and you'll be able to connect to anyone tactics are for now while fundamentals last forever number 14 passive income is worth 10
times earned income this is a big one for us why most entry level investors look at what's called ROI or return on investment while more advanced and sophisticated investors look at our ot return on time $50,000 per year in passive income is way more valuable than a job that pays two hundred and fifty thousand and you have to work 80 hour weeks why because passive income buys you freedom it doesn't block out time for you and it allows you to expand your value in the marketplace and now the last piece of money advice on this
list number 15 the best time to start is right now if you want to build build now if you want your life to matter start manifesting yourself into the world the timing will never be perfect you're consuming this content right now because you're not like everyone else or at least you don't want to end up like everyone else the opposite of success isn't failure its inaction your life doesn't change because you're not changing if you don't want to fall into the same trap as everyone else start today not tomorrow not Monday not next year today
do something you've been postponing immediately after this video ends that's how you move ahead you have no excuse and saying you don't have the information that you don't have the guidance the motivation or don't know what to do every millionaire and billionaire out there recognizes these for what they are intellectual gold we've condensed hundreds of books meetings and advice from mentors into a clear list cohesively put together by our own experience do with it as you wish we actually have a couple more and we're considering doing a part two of this sometime in the future
what should we include in that part two what's the best money advice you've ever received let us know in the comments and the best ones will make it into the second part and of course we're watching with us until the end we want to share a special bit of advice just for you number 16 do not be a slave to the money we know that money is on everyone's mind and it would solve many problems you're facing right now get the money but don't lose yourself in the process we've witnessed firsthand people who in their
pursuit of wealth have sacrificed health family their dreams and desires and ended up miserable what we're trying to say is you can get rich but still lose everything important and we want you guys to get everything you want in life we've learned that life is as beautiful as the way you live it and the people you share it with we hope you learned something today and that these will stick with you for the rest of your life we'd like to take this opportunity to thank everyone who's made it this far in the video although we've
never met please know that we appreciate you and congratulate you for the choice you've made to be here today if this video resonated with you please write 100% in the comment section that way we know we've done our job right and we can also tell who's made it this long into the video thank you for spending some time with us a Luxor's make sure to subscribe so you never miss another video we also hand-picked these videos for you to watch next as always the conversation continues on social media thanks again and we can't wait to
have you back tomorrow
