Your Biggest Money Drain And Solutions with Antonio T. Smith, Jr.

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Personal Financial Statement Sheets

https://s3.us-central-1.wasabisys.com/40webinars/personal-financial-statement.xlsx

Money Problem

Most people are responsible for wasting $10,000/year = $27.40/day

In Texas, $10,000 will get you a $250,000 house

Solution

If it does not make you money immediately, don’t spend it

Ex: Buying real estate that will get you money in 90 days; you made money when you signed the contract, it’s just net 90

You have to have a target

If you do have a target in mind and are still wasting money, you have a follow-through problem

You’re not following through with your target

You may have a God problem

You’re using your faith as an excuse to waste your money

Stop despising small beginnings

Your main problem

Challenge

Monitor and eliminate the $27.40/day spending

End goal: Invest the money that you’re losing

Invest in a stock account which needs to have the lowest fees possible

Have multiple accounts

Steps Out of This

Don’t despise small beginnings

Invest $27.40 a day

Don’t worry about saving because you don’t do that

Cut out whatever habit is $27.40/day

Go through every one of your monthly expenses and ask for a $31 discount

I’ve been a loyal customer. I’m happy my financial goals have changed. According to my financial goals, I need to save on this monthly subscription $31/month (if you’re on a monthly subscription) OR I would like to apply for a credit increase (if you’re not on a monthly subscription).

Make sure they see your cash flow increases

Start a short-term goal of $50,000

Be focused on fixed, hard, income-producing assets

You don’t get what you want; you get what you have to have

People with a Fixed Income or a Job

Stop giving people money

Get rid of your law of attraction that says when you get money, someone gets it from you

“So you need some money and you’re gonna pay me back. Well, I’m not in the position to loan people money. I’m only in the position to give people money, and it’s not in my budget.”

Phil Sorentino

You need serious training on delaying your gratification

The people who won’t invest $27 want to see $27 million today

You have to start small in order to get to the big money

Follow every other step said so far

Closing Thoughts

As we stay on this path, your money will get better

Every good financial person has a story

Don’t give $10,000/month to someone else’s economy that’s not paying you.