QA 28 - Why We Still Have Debt, But Make Thousands of Dollars Online
Flipped Lifestyle™ Podcast
Shane Sams
4.9 • 575 Ratings
🗓️ 17 January 2015
⏱️ 8 minutes
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| 0:00.0 | Hey, y'all. You're listening to a Q&A with S&J. |
| 0:04.6 | Welcome to the Flip Lifestyle Podcast, where life always comes before work. |
| 0:10.6 | We're your host, Shane and Jocelyn Sams. |
| 0:14.4 | Join us each week as we teach you how to flip your lifestyle upside down by selling stuff online. Are you ready for something |
| 0:22.7 | different? All right. Let's get started. Hey guys, welcome to today's Q&A with S&J. Today's question is from |
| 0:33.0 | Scott. And we really like this question, Scott. He said, just listen to your episode about your duct tape car. |
| 0:40.0 | If you guys are making so much money online, why don't you just buy a new car? |
| 0:43.7 | How can you possibly have debt in a crappy car if you're making thousands of dollars online? |
| 0:49.2 | That is a good question, Scott. |
| 0:51.3 | Like when we asked ourselves for many months after we started making a lot of money |
| 0:55.5 | online, the good news is since that episode where we were talking about our goals, we wanted to |
| 1:00.9 | share a few things that we wanted to do in our life. Goals that we set when we first started out |
| 1:06.3 | online. I think some people confused that episode. They thought those were our current goals, |
| 1:10.4 | but we were just reviewing the goals that we set before we made it online to let people know what we wanted to accomplish. That car actually no longer has duct tape on it. It was fixed. And I actually gave that car to my nephew. He just turned 17, I think, and he's now driving. So he did not have a car. so we gave him that car. And we bought a new car. We bought a brand new 2015 town and country. It was like $35,000. We paid cash for that. So we actually are spending the money that we're making now, and we have upgraded our vehicle. Very much so. It's an awesome car. Kids love it. So we've already taken care of that. but we do still have some debt and we have upgraded our vehicle very much so it's an awesome car kids love it so we've |
| 1:44.7 | already taken care of that but we do have still have some debt and we do make a lot of money but |
| 1:49.3 | what's important to remember and i think a lot of people kind of get disillusioned about online |
| 1:53.6 | marketers because they're like wow i'm that person made a hundred thousand dollars they're rich |
| 1:57.7 | or whatever but what people don't realize is that the government takes a lot of your money. You know, if you make $100,000 and you live in the United States of America, you know, you're going to pay 30% of that off the top, not counting anything else like sales tax and things like that that comes out of your money. So just because you're making hundreds of thousands of dollars, which we have done this year, that doesn't mean |
| 2:17.6 | you get to keep every single penny of it. Yeah, a lot of people have that in their mind because |
| 2:22.2 | they're used to like a typical paycheck. When you receive a paycheck from an employer, all of the |
| 2:28.1 | deductions have already been taken out, like your federal income tax, your state income tax, |
| 2:32.7 | Social Security, all those types of things. |
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