Before you read this whole lesson, I’d like for you to take out a dollar bill and study it.
Take your time and think about what you see.
Don’t read any further until you’ve done this.
Hey Moguls, Steve Cook here, and when I look at a $1 bill, I see an employee. I see a very hard working employee. It works 24 hours a day, 365 days a year.
No matter what it’s doing or where it is, it is working. If it is in your pocket, through inflation or deflation, it is either going up or coming down in value.
When you borrow money, it is working for someone else and against you. When you lend money, it is working for you.
Money works 24 hours a day. We are not capable of working 24 hours per day.
So if money is working against us and we work 8 hours a day, we must work 3x harder than the money in order for us to just keep up with it. If money is working for us, then it works while we sleep.
Managing money is work
In this world that we live in, we’re taught to believe that leverage is a wonderful thing. Use someone else’s money and make it work harder for you.
I must tell you that this concept is brilliant.
It is so brilliant that many of us get right in line to borrow as much as we can and we stack a ton of employees who are working against us. That’s okay, we’re now going to put those employees to work for us – but we’re going to make them work harder for us then they are working against us.
Anyone who manages a lot of employees knows that it is hard work. And the more you need to squeeze out of your employees, the harder it is.
For some reason or another, no one ever looks at managing money as hard work. Let me tell you, it is hard work, and the more you have to manage, the harder the job becomes.
You have to keep up with it administratively, when it’s working against you, you must make sure that it’s always working harder for you and that it is not slacking – because the moment it stops working, it’s costing you.
There is a lot of stress involved when your money isn’t working as well for you as it is against you, and things don’t always work out as planned.
Being $10,000,000 in debt means that you have 10,000,000 little employees working against you 24 hours a day until you pay the debt off. They don’t ever stop working against you. They don’t take vacations, and their boss is ruthless.
Money enslaves
Many people do not believe that they are enslaved by money…
Some realize that they are, but those who live within their means are the toughest ones to crack. They seem to believe that because they can pay their bills comfortably each month that they are not enslaved, that the lender is not their master.
When these people are suddenly laid off from their jobs and their savings runs out, they quickly come to realize who their master is. Yes, the lender.
Remember, your money works 24 hours a day – make sure not to be enslaved by it if you borrow; and make it work for you when you lend.
Talk to Me
How do you put your money to work for you? Share below.
Think of money as an employee.
Manage your money – every day.
Be careful when borrowing money - it is working for someone else and against you. Don’t get enslaved.
Make money work for you by lending it.
Steve Cook
was a nationally recognized real estate investing educator, author and real estate investor, prior to teaching Lifeonaire life coaching system. Today he is regarded as "The Coaches' Coach." Many of the people who have been coached by Steve have become coaches themselves, eager to share what they have learned with others.