Most of us would love to be rich, famous, or even envied.
At Some Point Everyone Wants:
To go grocery shopping without thinking about the balance in their bank.
To buy anything they really want.
To travel on a vacation to a destination of their choice at any time.
Round trip to Paris anyone?
Maybe Jamaica, India, or to Thailand?
Here’s My Challenge To You:
Try and double your money every day starting with one penny for 30 days.
There is only one rule:
#1. You can only reinvest from what you gained on that penny to make more money.
How far (the number of days) do you think you’d get? Could you double your money every day for 30 days? Could you make it to $10.00? This challenge could be a way to fund your next grocery bill, buy that new Macbook Pro, your next vacation, or car.
Could anybody really accomplish this challenge? Most people couldn’t make it past the 2nd penny, but that’s not the point. The point is to have a change in your thinking so one day you can live like no one else. To do this you have to start living like no one else today.
My wife and I have been since August of 2012 and today I own my own 6 figure income business! I can already see how living like no one else has started to pay off. I can also see Dave Ramsey smiling now.
So ask yourself how can I make one penny turn into two? You find that answer and you will find how the rich become wealthy.
Many want to change their situation, but don’t realize its them that needs to change within the situation. While our environment does have an impact on what happens to us we are still ultimately responsible to control what it does to us mentally. That may prove to be difficult to manage, but it is up to us to do so.
Free The Mind And Everything Else Will Follow
If you fix your mind then you can fix your financial situation.
Some of us as the saying goes have to be “sick and tired of being sick and tired” of our situation before we become motivated enough to change our mentality. It’s like looking for something that you lost at home. You look and look, but can’t find what you lost. The environment (whether it’s messy or clean) isn’t the problem. Your mind is the problem because you can’t remember where your stuff is.
How many times have you lost something, but couldn’t remember where you lost it? You stumbled around frustrated trying desperately to find the lost item. Who wants to do that with their finances? Do you ever wonder where all your income went in the last 5 to 10 years. Yet, many of us do and never find it.
The most annoying thing that happens when you lose something (almost more than the annoyance of losing something) is when someone says think back to where you last remember having it. Most of us don’t like to hear this in the heat of the moment, but that person understands what the problem is. It’s your mind. To be honest most of the time our stuff isn’t lost, but we are. I mean my iPhone hadn’t grown legs and walked off, right?
So how do we change our minds so that our situation will change financially? Is there some quick fix? A magic money tree that just needs to be planted? The bad news is it’s not that easy. The good news is it’s not that difficult either. [Reminds me of the gospel.] It takes a little faith and God’s effort.
Find Your Roots?
So you have a financially messed up situation? What’s the first thing you need to do to fix the problem? You cut off the problem at the root. The iceberg you see above water is only the tip of what lies beneath. You have to dig down deep to figure out what that is. Think of a weed you are trying to stop from killing your flowers. Do you cut it off at the top or do you dig it up at the root? This is why you can’t save money no matter how hard you try. This is why you have 1000 emergency’s! You haven’t figured out where the root of your problem is.
Don’t try to shift your savings (if you have one). This is a mental thing. It doesn’t matter how much money you make. Whether you earn $36,000 or $500,000, your net result will be the same. Zero. Most people don’t see they have a problem, especially those who are at the top of the income range.
How is this possible? Simple. They make enough money to easily replace what they have spent, but they aren’t saving money. The result can seem devastating because their total cost of not saving is greater than someone with a lower income not saving. So the resulting consequence is just as painful, but seemingly much more devastating when that income pipeline freezes due to job loss, a major expense, bad investment, etc.
So what’s your root? It’s critical to your success that you find it.
- Were you never taught money management?
- Are you afraid of how much you really don’t know? So you choose not to know?
- Do you see money as something only the rich have?
- Do you lack self control?
Your root may seem to be something much more difficult to find than others, but like that friend said to you when you were looking for that lost [iPhone] “think back”. Think back to what you remember “learning” about money (if anything) in your past. What can that tell you about your view of money today?
Learn To Unlearn, Relearn, & Then Learn From Others
You learn to unlearn old things and relearn new things about money. You read about why car title loans are bad or why you should create a budget. You learn about why you should “always pay yourself first”. You ask various people a series of questions to better understand how people view money. You will see a pattern of “thinking” in those who are successful and those who are always in a financial bind.
- What is your best approach approach to saving money?
- How would they take a dollar if it was all they had and flip it into two dollars?
- What inspires them to save consistently?
- What advice could they share with you about money that is actionable?
Most people think that the rich got there because of a silver spoon. Most millionaires are self made. Check out a book called “The Millionaire Next Door”.
If you can learn the principles behind what it takes to turn one cent into two you can become financially independent! Maybe you can’t double a penny everyday over 30 days, but what if you could do so over 10 years? look at the bottom row.
I learned how to get to year 9 in less than two years! Everyone has the capacity to get there. How much do you want it? In a world full of free information there’s no reason to be broke.
Don’t Go Back To the Future
Notice how that link takes you to google? Yes. I meant the link to take you to google. No, It’s not a joke. It means something deeper than me just spelling it out to you. Where is your hunger for something better? Where is your self worth to not accept the life you hate? Who wants to be stuck in a cubicle, riding the back of a garbage truck, delivering mail, or digging holes in the dirt for the rest of their life?
I’m not saying that to make anyone feel bad, because I used to do two out of four of those jobs I just spoke of. I’ll just say that “Waste Engineers” and Mail [wo]men have it much better than digging holes or sitting in a cubicle with no windows and a boss asking you to work over time that you are not being paid for making $30,000 a year (before taxes) salary!Do you really want to see yourself in the same place in the next 5 years? Don’t look back in your future and see yourself where you are today!
Think. There Is Always A Way Out!
The Point is that yes you have to do what you have to do. Take care of your responsibilities (family, community, country), but what’s the point of working today if it doesn’t make a difference tomorrow? Figure out how to rub two pennies together to get a genie to pop out or figure out how to get those pennies to work for you. Maybe it takes you longer than 30 days, 5 years, or even 15 Years. The question really is how can I get my money that I do have to double and how quickly can I see a return on what I do invest.
- Year 1: $.01
- Day 2: $.02
- Day 3: $.04
- Day 4: $.08
- Day 5: $.16
- Day 6: $.32
- Day 7: $.64
- Day 8: $1.28
- Day 9: $2.56
- Day 10: $5.12
- Day 11: $10.24
- Month 2: $20.48
- Month 3: $40.96
- Month 4: $81.92
- Month 5: $163.84
- Month 6: $327.68
- Month 10: $655.36
- Year 2: $1,310.72
- Year 3: $2,621.44
- Year 4: $5,242.88
- Year 4, Month 6: $10,485.76
- Year 5: $20,971.52
- Year 6: $41,943.04
- Year 6, Month 12: $83,386.08
- Year 8: $167,772.16
- Year 9: $335,544.32
- Year 11: $671,088.64
- Year 12: $1,342,177.28
- Year 13: $2,684,354.56
- Year 15: $5,368,709.12
That scenario of what someone could do with just two pennies if they had the hustle it takes and the desire necessary to better themselves!
- Day 1: $0.02
Tell the first person I see I’ll give you one penny if you would give me two. ore than likely they’d just fill bad for me and give me one. I now have doubled my penny from my first investment because whether they take my one penny and give me to or just give me a penny it’s the same return on my investment. - Day 1: $1.00
Rinse and repeat until I got to $1.00.Go into a McDonalds and ask for a cup of water. Drink the water. Put the change in a cup sit down outside and shake it. Receive money from strangers that think I’m homeless. Rinse a repeat until I make $20.00 - Day 2: $40.00
Buy four 20 packs of nestle bottled water from Walmart and sell each bottle of water for a $1.50. Make each at a beach, outside a stadium or theme park. Make $120. Rinse and repeat each day at a theme park until I reach $3000. - Day 10: $10,000.00
Buy a hot dog cart off of Craigslist. Buy all the food I need. Return to football stadium. Sell hotdogs (3.50) and brats ($5) and bottles of water ($2.00) until I make $50,000. - Month 3:
Sell hot dog cart as a business on craigslist for $25,000. $I now have 75,000.00 - Take my $75,000
And lease a food truck, rinse and repeat the food business.
This of course is all hypothetical, but is just one path and I haven’t even made it to year 2. What could you do with a $100? I don’t think this method (hot dog business) is for everyone, or that it would take the exact timeline I created, but the idea of investing in yourself with just a penny is there. You may find a different method, but that’s the point. You finding a way to better yourself!
Don’t focus on getting your first million. Focus on getting your first penny and how to double it.
Ask yourself “How do I want to live?” Imagine what you could do with just one penny.
www.BudgetStrong.com