WEBVTT
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This program is designed to provide general information with regards
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to the subject matters covered. This information is given with
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the understanding that neither the hosts, guests, sponsors, or station
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are engaged in rendering any specific and personal medical, financial, legal, counseling,
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professional service, or any advice. You should seek the services
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of competent professionals before applying or trying any suggested ideas.
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Hello, and thank you for tuning in to a Sharp
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Outlook on pay for HD radio and Talk for TV.
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I am Angela Sharp, your host.
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I'll arm to your discussions with industry experts will give
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you the steps, tools and information to be successful in
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business and to prepare you to be your best self.
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Hello, I'm Angela Sharp, and I really want to say
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thank you for tuning in to ashak Outlook. Today we're
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going to talk about money needs a mission. Last week's podcast,
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we were talking about money is more than math and
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that we need to understand our relationship with money. But
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today I want to talk about how we need to
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assign purpose to our money. Today, I want to talk
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to the person out there who is working very hard
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every single day but still feels like money disappears too fast.
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I want to talk to that person that's listening who
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gets paid, handles bills, takes care of responsibilities, but maybe
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helps everybody else sometimes and then looks up and wonders,
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why does it still feel like I'm not getting ahead?
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If that's you, this episode's for you today, because today
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we're talking about how to make money work for you.
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And let me say this from the beginning. This is
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not financial advice. This is a mindset shift. This is
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about moving from survival mode to the point of thinking
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about building, so you want to move to building mode.
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This is about learning every dollar, understanding that every dollar
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that comes into your hands, it carries potential of being
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much more than just a dollar. The truth is a
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lot of us we're taught how to work for money
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and how to pay bills and how to shop things
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like that, but not how to make money work for you.
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And that has to change, and it has to change now.
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Not just spending power, though I'm not going to just
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talk about spending power, and not just bill money, and
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not just temporary relief. We need to put our money
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on a mission. Money needs purpose, Money needs a mission.
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And here's the first thing I want you to understand
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money without direction disappears if you don't tell your money
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where to go, direction and what it needs to be
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doing and help you decide what to do. Bills will
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take it, impulse will take it, stress will take it,
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emergencies will take it. There's going to be something else
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that is going to take your money if you don't
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have purpose and direction for where you want your money
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to go, and if before you know it, another month
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has gone and you have nothing to show for your
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effort and all that you've done. That's why every dog
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needs a mission. Some money needs. Some money needs to
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be used to handle expenses for today, some money needs
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to protect tomorrow, and some money needs to build your future.
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And that is what it means to make your money
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work for you. It means that your money is no
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longer just passing through your hands. It's been assigned, it
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is being positioned, it is being used with purpose. And
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when money has purpose, your life starts to gain direction too.
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And that's what we're going to be really delving into,
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is your life having a mission and a purpose and
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your money having a mission and a purpose too. One
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of the things we have to talk about, though, to
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be honest, we've got to be Frank, We've got to
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be authentic. We've got to be invisible here and tell
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you everything first. To begin this, we need to stop
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the leaking and start building now. Before your money can grow,
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you have to stop the leaks. That means, let's be honest.
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Where's your money going? Have you looked? Have you actually
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looked to see where is your money going? What habits
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are draining your finances? What subscriptions, I know we have
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a bunch of those. What subscriptions, spending patterns or debt
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payments are quietly stealing your future. This is not about shame.
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This is about awareness because you cannot change what you
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refuse to face. And I last week I talked about
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the relationship with money. I talked about money is more
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than math. Yes, there's a practical side. You have bills
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to pay, you have expenses to take care of. But
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you also have an emotional side to money and that
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comes from maybe your childhood or things that have occurred
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in your life, maybe some trauma, different things that have happened.
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And then there's a psychological layer of money where it
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really affects you emotionally but psychologically, so that the decisions
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that you are making it's based on a perception or
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a perspective that is being affected by circumstances in your life,
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things that you have said to yourself. And so to
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find out more about just that, go back, look at
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a sharp outlook, go to the website and look at
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the previous show that was there and watch it. It's
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called Money is More Than Math. Last week we talked
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about setting up a budget, and that's one of the
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first things to be able to set your money on
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a mission is to set a budget so you can
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design how money is going to be using where it's
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going to go. Because when you set up a budget,
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the budget's going to say I'm taking control back. The
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budget says my paycheck will not disappear without a plan.
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A budget says I may not have everything I want today,
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but I'm building towards something bigger. And then there's the debt,
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especially high interest debt your credit cards. That kind of
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debt can keep people trapped for years. It takes your
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hard earned money and turns it into profit for somebody else.
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So if you want your money to work for you,
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one of the first steps is stop stopping money from
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constantly working against you. If you have credit cards that
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have high interest rates. Then try to find other cards
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that have much lower rates and go in and transfer
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your balance to a low interest rate credit card. Don't
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be fooled by the okie dokes that they say, Oh yes,
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They just keep giving you higher credit, higher credit, higher credit,
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higher credit until you reach a point where you have
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gotten yourself in a debt situation and they begin to
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raise your interest rate to keep you there. And all
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they do is keep making money. So be aware of
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the traps that are there out there that can put
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you in a situation where you can't get out of
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the situation that you're in. It takes your hard earned money,
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turns it into somebody profit for somebody else, and so
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you want your money to work for you. One of
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the first steps, like I said, is stopping money from
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constantly working against you. And it's not something you're going
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to be able to do overnight. It's something that's going
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to take some time. It's something that you're going to
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have to work at. And you know what, small steps
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still count. Don't be upset because you can't put masses
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of money away. Small steps work, and they really are
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good as long as you are moving forward. One of
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the biggest lies you are told, and you even believe
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I'll start when I have more money. No, that's not
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what you should do. Start with what you have. Start
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small if you need to, It doesn't matter. Start, you know,
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if it's messy. Even if it's messy, just start. Maybe
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you're even scared too, but you need to start. You
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need to start anyway, because wealth is not only built
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by people who had perfect beginnings. It's built by people
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who made a decision and stayed consistent. That is the
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issue of being able to come out of a state
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of owing and into a state of owning is because
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you start small, just a little amount a week. It's
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built by people who made a decision and stayed consistent.
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Maybe for you that means saving ten dollars a week,
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Maybe it means opening the savings account. Maybe it means
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finally learning about investing. Know there's a whole lot of
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tools out there to be able to study things online
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and seeing that they don't provide financial literacy in high
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school or middle school or definitely not probably you know,
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first through sixth grade, but in high school. I believe
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financial literacy should be one of your major classes that
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you take in school so that you can learn. Because
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of everything that you learn in school, financial literacy is
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a topic that you're going to use for the rest
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of your life. So to not know about it is
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a major injustice to you, to our children, to the
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generations to come. And this is why there's so many
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organizations out there now that are teaching financial literacy, and
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sign up to get the class. Don't be ashamed. It
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doesn't matter about what age you are or what you're
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financial position is. Knowledge is power. Find a class on
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financial literacy and learn about money. Learn about banking, learn
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about investing, learn about owning assets, but learn the correct way.
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Do some research. You've got chat, GPT or one of
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those AI systems out there, Ask it some questions and
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it will answer you, and it will give you all
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the information that you need so that you understand what
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you're doing with money. You know you, Like I said before,
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even if it's just ten dollars, just think about it.
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If you just put ten dollars in a week, by
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the end of the year, you have over five hundred
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dollars five hundred dollars saved. Think about that over a
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number of years. So what I'm saying is the amount
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isn't the issue. It's the consistency that is important. Maybe
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it means saying no to one more unnecessary expense, one
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more subscription, maybe too many of the subscriptions that you have,
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and say yes to your future. Do not underestimate the
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power of a small discipline step repeated over time, small
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steps become habits. Habits become systems, and systems are what
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change your lives. Try it. I'm telling you it works.
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Let time work with you. Now, let's talk about growth.
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A lot of people save money and saving matters, but
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saving by itself is usually not enough to build long
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term wealth. And this is what I'm talking about, not
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just a little money to spend for a vacation trip.
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I'm talking about money that not only is going to
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meet all of your needs, but have extra that even
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you can invest, you can help someone else. You're building
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generational wealth for your children, enough for even your grandchildren
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and several generations to come, not so they have an
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easy life, but because maybe they don't have to have
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as many struggles as you have had. A lot of people,
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like I said, save money and saving matters, but saving
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by itself it's just not enough. You have to learn
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how to Like I said, give your money a mission.
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Watch that mission, watch that purpose, watch it grow. Watch
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what you're investing in. And at some point your money
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needs to grow. Then as you're investing, you need to
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learn about investing. When you invest, you give money the
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chance to multiply. When you invest, the money multiplies. Imagine
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that money that you have earned now actually begins earning
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for you, and so your money actually starts working for you.
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You place it in assets that can grow over time,
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and then you know and you're able to go and
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invest in that and you get wealth building tools available
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to you. This is the time for one of the
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greatest wealth building tools available, putting your money into assets.
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Because of compound growth, money can build on itself. When
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you invest and what you invest in, it's going to earn.
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And when it earns, you earn more. You earn more.
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And so you look at your account. So you've put
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one hundred dollars in there, and now you're looking at it,
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it is one hundred and five the five dollars. You
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didn't do anything. The money earned it for you, and
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as you keep watching it, it keeps growing. And next
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thing you know, like I was saying, just putting the
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ten dollars in and you have five hundred each each year.
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It keeps growing, it keeps multiplying, it keeps making more
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money for you. But then you begin to invest in
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other things and just having it in a savings account,
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and you want to know what you're doing. And as
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I said, I'm advising you to take some financial literacy
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classes and learn how investments work. Learn how the stock
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market works, learn how these everyone's investing in technology and
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bitcoins and things. You need to learn how those actually
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work before you invest in tools to make money. Because
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everything isn't safe. Some things are more risky than what
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you are able to handle. So you have to think
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about all of those different areas and different things that
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are out there. And that's why you know. They always
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say waiting, Waiting is expensive. Time is something you can't
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get back. Waiting is expensive. If you keep saying I'm
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waiting until I have more money, that time that you're
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waiting you can't get it back, so it's lost time.
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And that time that you're waiting, that ten dollars could
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have been making money. That ten dollars a week could
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have been making money, money that you didn't have to
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work to get So every year you delay learning and
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saying and investing and building, that's time you can't get back.
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So no, you do not need to know everything today,