I talk a lot about the dangers of having no discipline. Today I want to talk about financial discipline.
First, a quick reminder…
Have you registered for my 10X Boot Camp Interactive yet? If not, the link is here. This is my best event of the year. So, don’t miss it.
Anyway, most “average” people have little or no financial discipline.
It’s the reason why average people never get rich.
Have you ever wondered why lottery winners can be rolling in cash one day…
And then be flat broke the next?
Or how professional athletes can get paid millions of dollars per year and STILL wind up filing for bankruptcy.
They’ll all blame something else… but the truth is it’s because they’ve got no discipline!
In a second I’ll share a simple approach to achieving monk-like levels of self-control – so you can take the money you make…
And put it to work to expand your wealth.
But first things first, you have to understand what it means to have discipline.
My favorite definition of the word “discipline” is this:
It’s “the set of rules you must follow to train yourself mentally and physically”.
Let me repeat that.
It’s the set of rules you must follow to train yourself mentally and physically.
So with that in mind…
I’m going to give you a simple rule that will train you to become a pillar of financial discipline (and get rich doing it). Let’s GO…
Imagine, for a second, you earn $20,000 per month.
We know 40% of that money is going straight to the IRS.
That leaves you 60% of your monthly income to play around with. Which is $12,000 per month to spend on anything you want.
What do you think an “average” person is gonna do with that $12,000?
I’ll tell you what they’re gonna do.
They’re probably going to buy a house. They’re going to lease a car. And that car is probably going to be a Porsche – or similar. After all, it’s only $700 per month, right?
Maybe they’ll book a fancy vacation.
Dude is gonna live it up!
And by the end of the month their entire $12,000 has evaporated into thin air.
You think that’s OK? I mean this guy or gal is gonna make $20k more next month…and another $20k the month after that.
But what happens if their income dries up?
See, most people don’t plan how they’ll cover their expenses when hit by a crisis.
Most people do not build themselves a safety net for when times get tough.
This is average behavior.
And it’s a clear example of what it looks like if you have no financial discipline.
This is how average people end up living paycheck to paycheck – instead of setting themselves up for life.
This is why average people struggle to provide for their families when the economy takes a nosedive.
Now you, my friend, are not average. Which is why you’re gonna do this instead..
For every dollar you make, you’re going to give 40% of your earnings to the IRS. They don’t deserve it, but you don’t want to go to jail, so do it.
Then you’re going to set aside 40% of your monthly income – to invest in assets that will increase your wealth.
The remaining 20% is yours to live off.
That’s right! Just 20% of your total income is yours to live off.
And here’s the clincher…
You are not going to change your standard of living until the cash value of that 20% goes up.
You are not going to spend any more money, until you are making more money.
That’s TOUGH, right?
Sure it is. But this is the kind of discipline that will protect you and your family from inflation… from economic downturns… and even from frivolous lawsuits.
Plus, discipline like this will make you rich.
Pay the price today so you can pay any price tomorrow.
– Grant Cardone
P.S. If you liked today’s lesson, you’re going to love my 10X Boot Camp Interactive.
We’ll spend 3 days together, where you’ll learn how to get money…how to keep it…and then how to multiply it.
It’s happening from November 4-6th and you need to be there.
That link for you again >> 10X Boot Camp Interactive.
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