THE ONLY LESSON ON MONEY YOU NEED TO LEARN 💸 #Best Education Page #Online Earning

what's going on you guys so today I'm

gonna be teaching you the only lesson

you ever need to learn about money

and guys this is something you can learn

from many different books out there and

pretty much every financial book out

there talks about this exact same

concept it doesn't matter if you're

reading an old book like the richest man

in Babylon or maybe you're reading Rich

Dad Poor Dad by Robert Kiyosaki or you

have a guide on investing 101 or maybe

you're reading the only investment guide

you will ever need it doesn't matter

what book you are reading they are all

teaching you one very simple concept

that I'm going to show you today and

odds are if you've read even half of any

financial book out there then you

probably already understand this very

simple concept of how to turn income

into wealth now I have a library of

dozens of different financial books I

try to read a couple of different books

every single month just because I'm out

here educating people about investing

and financial topics and as a result I

try to learn as much as I can to share

these ideas with you and without a doubt

this concept is mentioned in every

single book maybe it's in a different

way but every single book talks about

the concept of turning your income into

wealth so a lot of people out there are

focused on earning high income they say

okay my problem is I don't make enough

money but they don't realize that that's

only half of the problem income is

exactly that it's money coming in but

that doesn't necessarily mean that is

money that you are keeping the secret to

actually getting wealthy and getting

rich is very simple it's to create

wealth through savings not just the

money that comes in but the money that

you actually keep and then what you do

with that money once you're holding on

to it so I want to show you guys how

this works it's very simple so first of

all on the left there that green bar

represents your income and for most

people it's the income that you make

from your job your nine-to-five job the

very first thing you have to pay is your

taxes there's really not much you can do

about this and in most cases your paying

is before you even get the chance to

touch your money so right off the bat

you lose in some cases one third of your

income to taxes so now this amount

that's left here is your post tax income

and now you have to pay your costs you

probably have a car you probably have a

house and you probably have to have

things like electricity and food and as

a result you're going to pay these costs

so after that point you have that income

minus your taxes -

your costs and do keep in mind there are

two types of costs or expenses out there

there are discretionary expense items

and non-discretionary expense items I've

talked about this in countless videos

but understand that your discretionary

expense items are expenses that you are

in control of that is your dining

expenses or as money you spend on

clothing and luxury items while your

non-discretionary expense items are

things like your mortgage or your food

or possibly your utilities things you

need just to stay alive so that is the

difference there between those costs and

after that point you may be in debt you

may be in a situation where you're

paying back debt because at one point

you didn't have enough money for a

discretionary or non-discretionary

expense item and as a result you went

into debt so after you pay all of your

taxes all of your costs you may be

paying off debt and most people never

make it into this section here your

positive cash flow and it may be a

result of too much spending or may be a

result of paying off debt from prior

spending and if you're not in this

section here where you have a positive

cash flow there's absolutely no way for

you to ever achieve wealth because you

have no savings the secret to getting

rich is very simple a lot of people are

going to sell you courses on it or books

on it but the truth is it comes down to

creating wealth through savings and if

you don't have a positive cash flow then

there's no way that you have any savings

and if you don't have any savings then

you can't create wealth for yourself by

investing in assets so you're completely

screwed in that situation there's

nothing you can really do to build

wealth for yourself so you're gonna have

to start working backwards and figuring

out what is it that I can control but

first of all let me explain the very

simple concept of how you actually build

wealth

you take your positive cash flow you put

some into savings and you buy assets

with the rest of that money now the

reason why you put money into savings is

so you can avoid this altogether where

you have to go into debt you build

what's called an emergency fund which is

going to be used to pay for any

unexpected expenses maybe it's a medical

bill or a car repair who knows what it

is but you're gonna pay for that out of

your emergency fund and you're going to

invest the rest into assets

now what assets you invest in again

there are countless books and guides out

there about this but as long as you're

investing in assets that appreciate in

value with time whether it be stocks

bonds real estate antiques whatever it

is you decide as long as these asset

or appreciating in value over long

periods of time that is all that matters

as long as you're regularly buying

assets and this right here is the only

thing that will ever build wealth for

you it is how much of your money makes

it through all of this and then ends up

in the assets column and if that is zero

dollars then you're not going to be

building any wealth so if you're in a

situation where you're not building any

wealth because you don't have a positive

cash flow there are a few things you can

do we'll start all the way from the left

first of all you can make more money is

it the easiest thing to do absolutely

not you're probably going to have to

invest money in yourself through

education or you're going to have to

invest more of your time whether it's

working more hours at your job or

starting a side hustle now as far as

taxable income goes there's not a lot of

ways to lower your taxes but maybe you

are going to decide to contribute to a

retirement account to lower your taxable

income and keep more of that money

yourself that is a very wise decision as

far as your post tax income and your

costs go like I said if you can lower

your tax bill great but most people

aren't in a situation where they can if

they are contributing the maximal amount

to their retirement accounts so the next

thing you can do is cut down on your

costs both your discretionary and your

non-discretionary expense items and I'm

not going to get into that in this video

there are a ton of ways you can do that

maybe I'll cover that in another video

I'm sure it's already covered on other

videos on my channel so you can cut down

on your costs and you can eliminate the

need for debt entirely by building up

the savings for yourself that way

there's no need to ever go into debt

because that is the biggest problem

people run into you get into debt you're

paying 15 to 20 percent interest or more

on that debt and you never get out from

under it it's a very bad situation to be

in and that is where most people end up

as far as where their income ends it

ends once they pay their debt but that

is pretty much it guys that is what

every financial book out there is

talking about in one way or another how

you're going to be turning income into

wealth it doesn't matter how much money

you make it matters how much you keep at

the end of the day even if you're a high

income earner but your costs are up high

and your taxes are up high and your debt

is up high then maybe you don't have a

positive cash flow or maybe you make

minimum wage but your costs are under

control and you have a positive cash

flow it does not matter what you're

making all that matters is what you're

keeping and what you're doing with it

but anyways guys I hope you enjoyed this

video if you're new to my channel please

consider subscribe

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drop a like on this video and comment

below with your thoughts and as always I

thank you for taking the time to watch

this video if you are interested in

learning more about investing in the

stock market I've created a free course

just for you the link is in the

description below here are a few other

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