Another thing Lou Brown sees people do is instant gratification. Poor people see something and buy that immediately.
Rich people are careful about how to spend their money. When they have a big chunk of money, that’s when they spend on what they want.
What’s good to do is get by with as little as possible until investments eventually take over the income of the household.
Spend money, wisely.
Listen to more advice by watching other videos or sign up now with
3. Limiting beliefs
5. Following through on ideas Open to new ideas
6. Do the math
7. Saving money
8. Using credit cards
9. Spending money
10. Excuses – Gossiping and news
Attend this power-packed “one-of-a-kind” best of the best training on making money in real estate investing!
Take Lou’s Course: Multiple Streams of Realtor Income – Real Estate Investing
Now, another thing that I see people do is instant gratification, right? As you see it and you buy it. So spending money is another thing that I see poor people do, that I see rich people have some restraint around. And by that, I mean, if someone has used the sweat of their brow, they have worked hard. They have built a business they’re careful about when they spend their money. And when they do have that chunk of money built up, then they can go buy the big toys. I told my wife early on in the game, I said, we’re going to go through a financial sacrifice. Period. And that means we’re not going to buy new cars. We’re not going to buy new homes. We’re not going to take this money and fritter it away because what we’re doing is getting rid of the future, that that money can produce.
What we’re going to do is get by on as little as possible. Buy used cars, buy them cheaply, run them into the ground, get another one until we get ourselves to that position where our investments are producing an income on a monthly basis, that takes the place of our jobs. Well, that can happen soon in your life. It’s amazing how quickly I’ve been able to help people get there. I’ve been able to help people get there in a year. And it’s amazing! Just what can happen when you start producing that dependable, predictable, monthly income, you can leave that job. And what happens is now you’ve picked up all those extra hours that you can invest in your business. So spend money wisely!