Two hundred and fifty million people in the wealthiest country on the planet are barely making it.
You might be tempted to lump people on welfare, disability, food stamps and/or those without an income currently into this massive group of people. You’d be wrong though, I’m afraid.
This group of paycheck-to-paycheck workers that I see using the check Cashing near me and entrepreneurs are generally accepted as middle income, making upwards of $70-grand a year! If their car broke down or little Johnny needed glasses all of a sudden, many in this group would be on the verge of financial collapse!
And most, if not all in this same group of near financial-degenerates has the power to change their situation fairly quickly, if only they had a little more knowledge and heaps more motivation to set their sail on course to financial freedom…
According to sales legend Grant Cardone it’s simple: “you’re having money issues because you have money issues.”
I really like the bluntness of this statement because it takes any and all excuses out of the equation. Excuses being the one massive roadblock that keeps everyone a broke whiner when the gateway to riches is so much closer than they actually think.
Here are a few more sage words from the wealthy master about why so many are broke and stay that way, that we can all stand to read and actually apply to our own lives:
1. Living too close to home
Did you know that most people live within 25 miles of their hometown (ie., where mommy lives)? Cardone suggests getting out of this financial-funk-inducing, life limiting area that’s given you so much comfort thus far, and get the heck out of Dodge. Greener pastures are out there to be found. Tell your family you’ll send them a postcard and might sign into Skype once in a blue moon, but not to expect many yearly visits from you until you’ve made it.
2. No concept of economics or money management
It’s true. Few understand how money works. The rest have no problem with their bottom line being eaten away by thousands in interest being paid out to creditors every year. Cardone equates how most Americans manage their finances as “playing defense” all the time, when you should be out there creating more financial resources in an offensive manner. Scoring more points and building up a healthy gap between you and those who’re trying to take what you have (essential and non-essential services, mortgage company, other creditors, government).
3. The “penny saved, penny earned” conundrum
As with the above, you’re playing on the defensive all the time trying to hoard all your cash for a rainy day. Even the smartest of all penny-pinchers I’ve ever known rarely save more than a half mill for their retirement, including their investments. Worse, they spent countless hours clipping coupons and haggling with store owners to get that cash. That’s time you’ll never get back, just to live “comfortably” for a few years before you kick the bucket.
4. Thinking politicians will save you
Being a politic-averse individual, I can’t understand this mentality. Yet many of you fall victim to this. Cost of living continues to rise undaunted, as does the cost of doing business. Nobody, including the Easter Bunny or Santa Claus can save you from financial unhappiness. It’s all on you.
5. Failing to recognize there’s a problem with your cashflow
Pretend there isn’t a gnarly looking creature in your closet, close your eyes and it’ll go away. Cardone calls this cash-limiting problem “financial apathy”. Instead, sit down and really be honest with yourself (and your spouse, if applicable) on a weekly basis and really take in your current financial situation. Be totally honest with yourself and don’t take anything lightly. Regardless of how well-to-do you are at the moment. Do this instead of charging the latest and greatest gadgets you want whenever they’re released, buying the name brand when no-name will do, and financing a new car whenever you get bored.
6. You’re entitled just like the rest of the world
No you’re not. You have to work for it! You feel entitled to own your own home because you just turned 30, or you feel you’re entitled to sit at your desk and do just enough to scrape by while the Gen Y and Zedders do all the work. It’s time to realize that you’re also entitled to a 6′ x 2′ x 6′ plot of earth in the ground. Do you want to get there in style or by chasing that entitlement you think you deserve right into the grave, leaving your family to scrape together (likely finance) your funeral, casket and headstone? Answer “NO” to this question and you might have a chance to get out from underneath this bane of modern Americanism that’s killing our drive and infecting our children.
7. Comparing yourself to those less fortunate
Cardone unabashedly calls this problem “financial suicide” and he’s not wrong. Without mincing words, comparing yourself to someone less well off is unhealthy and leads to nothing but an excuse not to grow and prosper. “Just good enough” isn’t good enough if there’s always more month than money. Who cares if you can put up a good front with the discount designer clothing you bought at Winners, or that wicked financed car in the driveway that you’ll never actually own? If being better than the truly poor was good enough, you wouldn’t be reading this.
8. No work ethic
Grant regularly questions Tim Ferriss’s Four-Hour ideology about working as little as possible and making massive income all the time on his iTunes podcast (it’s free). He claims to work upwards of 100 hours a week and who are any of us to question this self-made millionaire. The man releases an endless amount of content every week on his various social channels, once owned a home in the Hollywood Hills formerly owned by Lionel Ritchie (before California decided to try and fix its deficit by taking it from the rich), and has a television show where he identifies young entrepreneurs who truly understand the meaning behind “Whatever it Takes” to be successful in business.
Stop whining, start brainstorming, and most importantly: leave the 9 – 5 behind you. Few make it big or even lead a comfortable financial existence working an 8 hour shift.
Check this guy out (warning: Grant doesn’t pull punches — ever!)
Main Image Credit: B Rosen/Flickr