Growing up you’re taught to save, save, save. And while its good advice there’s another part. Of course, it’s the part that poor and middle-class people aren’t taught. In this article, you’re going to learn that extra part.
I learned this from someone who makes 7 figures a year. When he told me this, he probably didn’t think it was as profound as it really was. But man did it really get me thinking. You see up to that point, I didn’t know much about personal finance. Let alone how to manage my money, or how to make real money.
Sure, I could make a few grand a month flipping products on Craigslist and make money cleaning properties. So as we ate dinner I absorbed everything he told me. Let’s not waste time, and get right into the lesson I absorbed.
28 Tips on How to Make, Manage, Multiply Your Money
When I first wrote this I was just starting to make $8,000 a month. This article never saw the light of day, now I’m earning 6x that amount so I’ve also added in other lessons that’ll help you save money, manage it, and grow it.
1. How to make money, manage & keep it: it starts with a shift in mindset.
Your relationship with money won’t change until you do. Real, lasting change starts with a change in mindset.
We were all raised to have certain viewpoints about money. Some of them were good, some of them weren’t. If you were raised to have a negative view of money, then you’re going to have a very hard time making it.
You cannot make (and keep) a lot of money until you cultivate a healthy perspective on it.
You might make it, but you won’t keep it. In other words: you’ll subconsciously find a way to get rid of it. Be it unnecessary risks, poor investments, or just spending it haphazardly.
I recommend you read these books to start cultivating a healthy mindset towards money:
-Rich Dad, Poor Dad (Robert Kiyosaki)
-Poor Richard’s Retirement (Aaron Clarey)
-Profit First (Mike Michalowicz)
Two of these books are discussed in further detail below.
2. Stop thinking in terms of either/or, know that you can have both.
They either think you have to devote your entire waking life to the pursuit of money or devote your whole life to your family at the expense of money (or just barely enough of it).
This goes back to #1 right above: having the wrong mindset.
People who are successful in earning and keeping money, know that money is not black or white like that. Rather, it has shades of grey. Making money requires possessing the ability to think outside the box. Just being successful in life period, requires a certain degree of thinking outside the box. An ability to tap into the creative side of your brain, in other words.
‘’Binary’’ either/or thinking…is the antithesis of this. So it’s no wonder people with this limited thinking lack the creativity necessary to spot opportunities. Everyday opportunities are everywhere.
People just need to have eyes to see them. These opportunities are often even in plain sight. If more people could just see them, the world would be a better place. A richer place.
A place abound with ideas, energy, excitement…
3) Stop seeking comfort in certainty, instead get comfortable in uncertainty.
Now yes these ARE calculated risks (that part is important), but at the end of the day: they’re still risks. Risk-taking means you can be comfortable with uncertainty. You don’t always need to KNOW the answer to something. You just have to learn to trust your gut instincts.
I’ll tell you the secret of the world:
Your gut is always right.
4) What most people believe is ‘’secure and safe’’, is really the exact opposite.
The illusion under which so many people live is that their JOBS are safe and secure. As are their 401K’s, pensions, etc. They operate under the false facade that these things make their lives and futures more secure.
As well as their families.
In reality, these things (jobs, central banking, 401K’s) take the control out of the hands of the individual and place it in forces outside of their control. They defer their responsibility, in other words. When you stop to think about it, it makes sense why they do this: it’s the easier thing to do, to defer responsibility.
Human beings will always do what’s easier (whether they realize they’re doing it or not). The bigger problem isn’t even them doing this either, the bigger problem is they aren’t aware they’re doing it.
5) You cannot ‘’save’’ your way to wealth, you must earn and invest your way to wealth.
This was and still is the biggest lie we were all fed growing up. How saving a Starbucks coffee a day will make you rich in 30 years, blah, blah, blah…
You’ve all heard the story, and while it may sound good in theory, have you ever actually seen this?
Who do you know got rich just by not going to Starbucks every day? You have to play the game of money on offense guys, never play it on defense.
Yes, you can win some games just by playing defense, but money is not one of them! At least not if you want to win big, and retire your mother like I did…
Better yet guys, if you REALLY want to succeed: then play the game of money like you play the game of chess, by thinking 6, 7, 8 steps ahead.
6) The poor and middle class stop learning in high school or college, the wealthy never stop learning, ever.
Learning never stops for those who find and keep money. This is doubly true for those who want to keep or multiply their money.
Learning is an every single day process. Hell, it’s practically an hourly process. Every minute you possibly can: spend it listening to books, podcasts, anything and everything will help.
It all adds up. If you need a place to start, then make sure you’re listening to my podcasts. Use YouTube to educate yourself, not to mindlessly consume like average people do.
We’re not average here at CalmandCollected.com.
When you’re not listening or watching something educational, then be reading. Become a human sponge and soak up everything you can.
The more you learn, the more you earn. That’s part of what Life Math Money and I spoke about on the recent podcast we did together.
7) A rich, abundant life isn’t about surviving, a rich life is about THRIVING.
Being rich isn’t just about the money of course. A rich life also means living one of abundance. Abundant friends, abundant experiences, abundant options.
Personally, I love the fact that I have options on where I can live. I can and will continue to live anywhere in the world I want. And before very long at all, you could too.
When I say ‘’abundance’’, I don’t just mean in terms of quantity either, I also mean in terms of quality.
Having money isn’t a prerequisite to achieving this, but it makes it HELL of a lot easier to achieve. Once you do, money then makes it a hell of a lot easier to maintain the abundance.
An abundance of quantity, an abundance of quality. That’s the name of the game fellas. A rich life of abundance isn’t something you earn once, it’s something you continue to earn. Once you achieve it you have to work to keep it.
It’s not a one-and-done thing.
Making money month over month, makes this easier to do.
8) Emotions and pain are what drive buying decisions, not rationale or logic.
If you’re starting a business, or want to start one, then this is the one rule here you should never forget. People will pay you if you can help them avoid pain. People want to avoid pain and discomfort, more than they want to experience a pleasure.
The money is in the pain avoidance and the emotions that accompany that. Always remember: appeal to emotions before logic or rationale.
9) Earning more money isn’t about what you do, it’s about what you embody.
You become disciplined, you become persuasive and influential. This is another mindset component again. Become what attracts money, never just do what attracts money.
Doing isn’t enough, it never was. The doing part happens as a result of the being part.
Become first, do second.
10) You’ll never get rich doing something for the sake of money, money is just the after-effect.
Money is the by-product of the value you offer. Of the difference, you make in someone’s life. You make someone’s life easier? Money follows. You help someone avoid pain or embarrassment? Money follows. Do something for someone better than they can? Money follows.
Hone-in on what it is you’re skilled in, what you have a talent for. From there, monetize your skill and the word will be your oyster.
11) Spend little time reflecting on the past, and all your time focusing on the future.
Money cannot be made in the past, it can only be made in the future. Stop getting trapped in things that happened yesterday. What happened in the past can never be undone. Your time will be wasted and lost living there.
The future is in the future. So is your money, so is your time, so is your life. Remember what I said earlier: play the game of life like a chess game.
12) Understand and accept that the world owes you nothing.
In reality: you owe everything to the world.
Losers are those who think they’re owed a great life. They have a ludicrous sense of entitlement. A rich, abundant life of options and choice is earned. It’s a privilege, it’s not a right.
If everyone was entitled to a rich and abundant life, it wouldn’t be worth much would it?
13) It’s not evil to make money, it’s evil not to.
Often: you cannot affect real change without money.
Money is what you get in return for providing value to the world. If you’re not making money, then you’re leaching value. It doesn’t take a rocket scientist to figure this out. Without the means to make, keep, or multiply money: you don’t have much charitable reach do you?
When you’re poor, you only have time to be focused on yourself. On your base level needs. You have no time or room for higher-level concerns (like helping the less fortunate, because you ARE the less fortunate…)
14) Making more money can prolong your life, as well as the lives of those you love.
One of the largest motivating factors men with money have, is that it affords them the ability to take care of those they love. When you have wealth, you have the options to take care of those you care about when they get seriously ill.
This helps you sleep better at night because this is not a question of if, it’s a question of when. At some point, they WILL need your help (one way or another).
Having money there will facilitate this.
15) Making money is not about avoiding risks, it’s about taking them.
Those who experience wealth abundance throughout their lives, are those that realized nothing of significance was ever gained by playing it safe.
Playing the game of life on defense instead of offense, in other words. This is not how the game of money is won. The game of money is won using your brains AND your balls both.
One is the yin, the other is the yang. When it comes to money, never forget to bring your balls to the field too.
They are both necessary.
16) If you’re the smartest person in the room, you’re in the wrong room.
Always be hyper-aware of the influences you’re surrounding yourself with.
You won’t get far with money or in life if you keep yourself locked in rooms where everyone else is doing worse than you.
Find the rooms where the winners are congregating – one example is joining The War Room. Which is by far the best mens networking organization on earth.
Do anything you can to be around men doing better than you.
From fitness, to money, to relationships, and anything else you want in life. You’ll only rise to the level you believe is possible. For this reason, always be focusing on being around smarter and better people than you.
17) You are the average of the 5 people you spend the most time with.
This is similar to the last point, but slightly different. These are the people you spend time with on the ‘’outside’’ as well.
This can even boil down to the types of content you listen to or follow online. If you want to be massively successful with money, it’s important you start surrounding yourself with information and people that will ‘’up your average’’.
The clock is ticking and you will not have time anymore for losers. You already don’t have time for it, even now, you just don’t realize it yet. You’ll realize it tomorrow, but by then it will be too late. Time lost is never recovered.
Get away from people doing worse than you!
18) High-earning people have learned to embrace fast-paced, often chaotic lives. Embrace what you fear, never yield to it.
Now at first (and this is especially true right after you start changing the people you surround yourself with), you will feel very overwhelmed. Right after you start making all these changes I’ve been covering here, or even AS you’re making them, it will probably feel like this.
You may even experience feelings of mild depression or anxiety. These feelings are rooted in ideas of ‘’unworthiness’’ your mind will try to trick you with.
Fear not, it’s important you understand this is normal: you are going to feel overwhelmed. These feelings will not last, even if they go on for longer than you thought they would, eventually they will subside.
You will adapt mentally and emotionally to your new fast-paced life. Without realizing it you’ll start discarding crap you don’t have time for anymore. You’ll subconsciously make changes without realizing you’re making them.
All I can say to that is this: welcome to the club.
19) Never increase your spending just because your earnings do.
Once your earnings DO start increasing, it’s crucial you don’t bring your spending habits up to match your new earnings.
When your earnings increase (not if, but when) keep your spending where it is. Now at some point of course, it will be okay to increase spending too, but your earning should FAR outpace your spending. In more ways than one.
20) The best use of money is to reinvest it.
One of the 1st and best things I ever did to increase my earnings, was reinvesting what I was making back into my business. I reinvested almost a ridiculous amount of money back into my 1st business. And man oh man did it pay off…
This mentor told me he also did this. He said this was a big reason he was able to sell his 1st business only 4 years after starting it from scratch.
It was because of all that reinvesting he did back into it. When you reinvest and pour money back into the business it helps the business grow the same way water helps a plant grow. Hire people into your business and upgrade things that will help you become more profitable.
Your business needs money the same way water needs a plant, so water that plant!
21) Always root financial moves and decisions in logic, NEVER root them in emotion.
Money is not emotional. It never has been, and it never will be.
You MUST understand this if you want to succeed massively with money. There’s a reason people say ‘’it’s not personal, it’s just business’’, and that reason is because of this.
Now I don’t mean don’t have ethics.
I believe business ethics are extremely important. What I mean is: do not get emotional about money. Money is rooted in logic and rationale.
Emotions have NOTHING to do with money. Your emotions or other people’s.
22) Never let school get in the way of your education.
Education is not what it was when your Boomer or Gen X parents were growing up. The world changes and evolves as time goes on. As it does this, it changes the dynamic of certain parts of society.
For a long time, education was a huge part of getting ahead in society. To a large extent, it still is. This is changing rapidly however. When it comes to money, you always want to skate to where the puck is going, not where it’s already been.
The future of wealth is online.
The future of wealth is in entrepreneurship.
The internet is the new Gold Rush. Grab your pick and start digging…
23) The more you give, the more you get back.
My mentor told me this was the other major point on this list that skyrocketed his ascendance into money. He told me with his 1st business he was also very good about not only re-investing back into his business but also about giving away a good portion of what he was making.
Yes, you heard that right: he gave back to society.
He made donations (keep the receipts, these are tax right-offs). He gave to causes he cared and was passionate about.
He literally gave money away.
Starting schools, paying customers rent, and charities.
The universe is funny like this, when you give money away, it somehow finds its way back to you. It may not come back right away, but it WILL come back. Now, this might make you nervous at first, especially if you’ve never given away much before.
Trust me on this though he told me: the money will find its way back to you, and when it does, it’s always more than what you gave.
Years later as I reflect back on this, I can say now he was 100% right. I’ve helped readers of mine behind the scenes. From helping a family make it through the Lockdown of 2021 to helping others in smaller ways.
Give more, to get more. The secret is to give without expecting anything in return. It must be from a good place in your heart. Not doing only because you know you’ll get more money in return.
24) Earning more money requires focus and discipline.
You won’t get far with money without focus or discipline. Either in accumulating it or in keeping it. This is the one thing on this list most of you hopefully know already.
Making money is not as hard as some people make it out to be, but it isn’t easy either like some people make it out to be…
You have to be insanely focused to achieve high levels of greatness in your business or investments. It requires, time, patience, energy, and yes: focus and discipline.
25) Discipline is as much about what you don’t do, as it is about you do.
It often takes as much, or even more discipline to stop doing things, as it does to do them. Drinking, video games, weed, and porn being the 4 biggest examples of bad habits guys who find Calmandcollected.com seem to have.
There are others of course. These 4 though, for different reasons, are the big 4 most guys struggle with.
Whatever you don’t have control over: becomes your master. You are a slave to the things you cannot say no to.
Never forget this.
26) Form an LLC and an SCORP.
You owe it to yourself to keep as much of the taxes you earn as you possibly can. Money saved in taxes can be reinvested back into the business, or given to charity (on YOU get to decide on, not the Government).
The best way to do this is to form an LLC (Limited Liability Corporation) and/or an S-Corporation (even better).
Don’t let these titles intimidate you, they are simply legal documents that get stored in your CPA’s file cabinet, but they protect you in countless ways, not the least of which is the US Government (the mob).
27) Pay yourself 1st, pay your bills 2nd.
I recommend you read or listen to the book ‘’Profit First’’ by Mike Michalowicz. You can listen to the audio book for free below.
Basically what you do is you always pay yourself 1st, then your bills 2nd. On the surface, this may sound a little crazy, but really this method is even recommended by Robert Kiyosaki as well (author of the famous financial book ‘’Rich Dad Poor Dad’’). By the way, read this book too if you haven’t.
28) It’s not how much you make, it’s how much you keep (CONCLUSION):
I’ll end it on this very important one.
You can make all the money in the world, but if you’re pissing it away on crap you don’t need, then at the end of the day it won’t matter. I’ve known so many people in my life that made great money, but wasted it like the world was ending tomorrow.
Never go about life with the mentality that ‘’I don’t know if I’ll be here tomorrow so I may as well spend it…’’
The stupidity in this viewpoint is nuts…
In reality, it’s just an excuse they use to justify having no self-control. If you’re going about life with this mentality: then stop. As soon as possible.
Just because money can be made back (unlike recovering time), doesn’t mean that it should be wasted. Yes, maximize your human experience. I fly First Class and Business Class. I’ve got a driver who takes me around Asunción. I happily pay whatever the cost to make my life and those around me more enjoyable.
However, understand you should always leave below your means. Especially in the beginning. Your full focus must be on separating yourself from needing a job. So you can live life the way you want.
From there you put any extra money into your War Chest and business. This is how you will win at life in the long-run. It won’t be easy, but it is simple.
I write almost daily emails for those of you looking for a way out of the 9-5. My emails will piss you off at times, but I’m not here to be your friend. I am here to help you become who you’re meant to be. Grab my freelancing guide for free and tune into my next email here.
Always the best,