My goals are simple, find a platform to be recognized and form some publicity. I will have something licensed soon and I pledge to work harder than anyone else to achieve my goals.
The things that get people into debt is when they think something is a need and really a want.
Challenge: Make more money than you lose. I headed penny stocks with sports betting and it was a huge success. It's not easy but at the same time have money that is being invested in stocks and Crypto will make up for any sports betting losses and vice versa. Also, create a small business that can make you look forward to Monday morning.
People say if "I would have only known about Netflix or Amazon stock before it was big". Then why don't you start following stocks now. Don't live in the past. Fix your mistakes to live in the future.
The other step to this is to have a job that you can rely on so that you enjoy.
It's not a get rich quick scheme but over time things can payoff because chances are one of these four things will be successful.
Make sure there is is at least 3k that always sits in your savings that you don't touch. The object is to always be two mortgage/rent payments ahead of the game. Therefore, there is no emotion in any loses or stock market decline.
Limit your day job to 20 hours a week. You just need something to bring in about $900-1,800. Enough to cover rent for that month. Find a hobby that makes you want to stay inside. This is crucial. Note, having kids changes the game plan quite a bit.
Set goals that still fit if your money goes down. Something that goes along with this is you have to be flexible of where your going to live. People can afford a down-payment in states like Nebraska or Iowa but instead choose to go broke in San Fransico or Seattle.
No point complaining about your lack of money when your living in a expensive city. Very contradicting if you ask me.
Peoples goals often don't fit reality which get them farther behind. I really believe that financial advice is not given accurately because the advisor doesn't know the full story because the client isn't comfortable giving the full story.
Fortunately, I am single which believe me keeps the costs down. I get PWD which gives me a the opportunity to be strategic in my investments and goals. Most people don't understand that. All you need is one 3x return on a stock to get ahead. People also think having a car is need. That's fine but understand getting financial freedom will take longer.
1st step is to figure what it costs to live per month.
2. Ask yourself, how much you want to save per month. If the answer is only 100. That's fine, put half in a secret account that takes risks. The other half goes into a savings and not touched until you need it.
3. Vacations money should only be spent if you have extra. I mean, if you really want to go there make steps to live in said place or tie it in with something that can make you money in the future. Vacations are easier when your with other people as the price of a hotel is not worth it if your single.
I see so many people struggle because their goals contradict their situation. There is nothing wrong with renting if your still increasing your net worth every year.
Be honest with yourself though. If you want good advice you have to paint a good picture of your situation to an advisor.
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