So do these five things with your money, it doesn’t matter how much money you make you could be making $100,000 $200,000 half a million dollars a year, but you spend every dollar that you make you have the cash flow pattern of a poor person.
If you spend like a poor person, you will always remain like a poor person today. I’m going to teach you five things that you don’t want to do with your money. We members not just how much money you make is how much money you keep.
1. Don’t Gamble (Lottery for example)
The first thing you don’t want to do with your money is to gamble it away or buy lottery tickets. You see how do you think those casinos in Vegas? They have these beautiful hotels, right? They make money from gamblers. Just like you lotteries are for suckers people who buy lottery tickets. They believe that they need luck to become wealthy to become rich, which is not true. Do you know the chances of you winning a lottery in a single state? It is as high as 18 million to one in multiple States. Sometimes it’s a hundred and twenty million to one that is your chance of winning.
So you tell me the odds and more importantly when you are gambling when you’re buying a lottery ticket. What are you telling to yourself or you’re telling your mind? Is this the only way I’ll become wealthy or financially successful. Is that through the luck of draw it is simply not true? So don’t gamble with your money. Do not buy lottery tickets. Hey, you guys do it stop it. Give me death. Give me a lot of money to learn your lesson.
2. Don’t Buy Things you don’t like (don’t buy things to impress others)
Now get back to work second thing you don’t want to do with your money is to buy things that you don’t like don’t get me wrong. I like nice things but I buy them because I like them. I enjoy owning them or having them. I get pleasure out of it, but most people spend money that they don’t have to buy things that they can’t afford to impress people that they don’t even like why because of low self-esteem. They need validation.
They need approval versus buying what the enjoy by what you enjoy don’t do it for other people do it for yourselves as Jay-Z said if you can’t afford to buy it twice, you can’t afford it. Amen. You know, I look good man. Look I may be broke. You know, what’s not cool being broke, you know, what’s cool.
3. Don’t buy things that rot you health (Cigarettes or Alcohol)
the third thing that you don’t want to spend your money on are things that will rot your brain and rob your health. I’m talking about cigarettes. I’m talking about alcohol. I’m talking about drugs.
Don’t drain don’t take drugs don’t smoke because of social pressure because it’s cool because your friends do it because they think they should do it. No, you got to keep your brain sharp. If you want to be successful. You don’t need to have a drink to have a good time. You can just have a good time get high on life.
Don’t get high on drugs. Don’t get high on alcohol. What the fuck are you guys doing? We my book give me those.
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4. Don’t invest in something you don’t understand
The fourth thing that you don’t want to do with your money is to invest something you don’t understand don’t invest because your friend tells you so or some salesperson some broker tells you to invest, you know, what they call a broker because the broker the you are right don’t invest because you saw someone making a bunch of money you are driven by greed only invest in what you can understand what you know, you got to study investigate before you invest. I haven’t all my money man. Oh my God.
5. Don’t Loan Money to friends
The 5 thing that you don’t want to do with your money is don’t loan money to friends. I’ve had this happen multiple times.There’s a reason if someone struggling with money, it’s not the first time they have money problems chances are they always have money problems because of the habits that they have or bad decisions that they make now there’s a difference if it’s an emergency and you’re helping them out then don’t expect to get the money back. The problem is when you loan money to your friend and I’m had this happen to me when you loan money to your friends and they cannot pay you back. There’s a lot of guilt the guilt kicks in and then what happens you lose your money and you lose a friend a much better way to do this if your friend needs help him solve the problems if he has addiction problems. He has a gambling problem solve the problem from its core, right if you know what your friends need help and if you are able to help and you are financially able then just give them the money but don’t expect to get it back. You see the best thing that you can do with money. Is to invest it in your self.