S2E207 Developing a Knack with Money
It's a Good Life
Brian Buffini
4.4 • 2.4K Ratings
🗓️ 11 July 2024
⏱️ 10 minutes
🧾️ Download transcript
Summary
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In today’s culture, many people find themselves endlessly struggling to manage their finances. They work more just to spend more and, as a result, end up where they’ve always been — trapped! In this episode, recorded live at MasterMind, Brian gives ideas and principles to help you make a quantum leap in your finances, get ahead of the game and escape the economic rat race for good!
Inspirational quotes from today’s interview:
“The culture’s view of financial success is this: work more, buy more.” — Brian Buffini
“You’re working for bills that are coming in the future for decisions you made in the past.” — Brian Buffini
“You can’t borrow your way to a fortune.” — Brian Buffini
“Invest in what you know...if you can’t pronounce it, don’t invest in it!” — Brian Buffini
“Investing should be more like watching paint dry or watching grass grow. If you want excitement, take $800 and go to Las Vegas.” — Paul Samuelson
“There are only two reasons to invest in real estate: cash flow and appreciation...you have to decide the purpose of your investment.” — Brian Buffini
“The person who doesn’t know where his next dollar is coming from usually doesn’t know where his last dollar went.” — Anonymous
“You have to take care of the dollars so you can take care of the hundreds. You have to take care of the hundreds so you can take care of the thousands. You have to take care of the thousands so you’re able to take care of the millions.” — Brian Buffini
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Transcript
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| 0:00.0 | Welcome to It's a Good Life, the podcast for entrepreneurs. |
| 0:07.0 | Today we have a classic cut from our personal growth event, Mastermind Summit. |
| 0:12.0 | If you have never been to this event, |
| 0:14.3 | head to It's a Good Life.com slash MM |
| 0:17.3 | to book your seat at the last ever mastermind this August. |
| 0:21.5 | Here's Brian. What I want to do is I want to show you how to have the knack with money, presuming you actually work, |
| 0:31.0 | save it, then you have a bit of it to go make a quantum leap with it. I'm going to show you |
| 0:35.8 | what we do and how we do it, not as a total blueprint for you, but just some ideas and some |
| 0:40.4 | principles that will help you. The culture's view of financial success is this. |
| 0:45.0 | Work more by more. |
| 0:47.0 | That has become part of the American way. |
| 0:49.0 | That is the rat race. |
| 0:51.0 | So what is it in the middle of it is you're working, right? What would you do if you didn't need it? Here's what it is. It's very empowering. It's very freeing. I do this because I'm privileged to do this. The power comes and the freedom comes from doing it because you want to not because you have to |
| 1:05.2 | 71% of Americans admit to having personal financial worries about not having enough savings, job issues, debt and credit problems. |
| 1:13.7 | So here's the way it works. |
| 1:15.1 | You have a certain amount of energy. |
| 1:17.4 | What would your life be like if you were able to take 50% of your energy and focus it on growing. |
| 1:23.8 | It takes the same amount of energy to worry as it does to grow. |
| 1:27.8 | Now if we'll do the right thing with the money, |
| 1:30.4 | off to the races we go. |
| 1:32.4 | Gallup shows that 65% of Americans do not budget. |
| 1:35.6 | So we're going to start doing the right things. We're going to start budgeting our |
... |
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