Articles

If You’re Broke Or Struggling Financially, Follow These Steps To Change Your Financial Situation

September 29, 2019


– Hey, this is Stefan from projectlifemastery.com,
and in this video I wanna talk to you about how to change your financial situation. So if you’re watchin’ this right now and you’re
broke and you’re struggling financially, then this is probably one of the most important
videos for you to watch. I really hope that you watch this to the end,
you watch it again and again, and most importantly, that you actually apply what I’m gonna share
with you, the advice, the recommendation, and the steps that I’m gonna advise for you
to do, because a lot of what I’m gonna share with you are things that might be different
that what you’re doing right now. And that’s a good thing, because if you’re
broke and struggling financially then what you’re doing right now is not working, ’cause
what you’ve been doing has gotten you into a financial situation where you can’t afford
something or you can’t invest in yourself, or you can’t, you have to say no to certain
opportunities that come up that can change or improve your life for the better. And so you should never be in that situation
to begin with, because if you’re broke and struggling and you can’t afford things or
you don’t have money, and I get a lot of people that send me messages and emails and they
say, “Stefan, I’d love to invest in this course, I’d love to change my life, I’d love to do
this or that”, but they can’t because they don’t have money. They can’t afford it. And that’s sad, because like I said, you’re
missing out on a lot of opportunities that could then improve and change your life for
the better. You’ve always gotta be prepared for that because
there will be opportunities that arise that you’ve gotta have the financial means to be
able to utilize and take advantage of, especially if you wanna maximize your potential, create
financial abundance, build a business, create a certain lifestyle for yourself. So if you’re broke and you’re struggling,
then it’s telling you a few things. Number one, maybe that you’re young, in which
case it might be acceptable not to have money, because when you’re young you haven’t yet
accumulated enough years of work to be able to save money and put money aside. You know, if you’re 16 years old and you’ve
never had a job before, then yeah, it makes sense why you wouldn’t have any money. But if you’re in your 20s, if you’re in your
30s, if you’re in your 40s or 50s or 60s and you’re still broke, you still don’t have money,
you still can’t afford, you know, little things to invest in yourself, to improve your life
or whatever it might be, then that’s tellin’ me you’re doin’ something wrong. You’re either making money, hopefully you
are, right, I assume you are, if you actually have internet connection, you’re watchin’
this video right now, you have a smartphone or if you have a computer, you know, you’re
obviously making some amount of money to be able to support, you know, and survive and
have a certain lifestyle. It might not be what’s ideal for you right
now, but you’re either making money but you’re not managing it properly. You’re just livin’ month to month, paycheck
to paycheck. You’re not actually havin’ a positive cash
flow, and you’re not saving your money, you’re not putting it aside, you’re not making smart
decisions with your money. And if that’s the case, we’ve gotta address
that because giving you more money is not gonna then solve your money management issues. You have to first learn how to manage money,
’cause if you can’t manage a dime out of a dollar, you’re not gonna manage, you know,
$100000 or $1 million if you don’t first start and learn how to manage with a small amount
of money. Or it’s also telling me that you’ve made some
poor decisions financially that have gotten you into a situation of not having money,
of being broke or whatever it is. And maybe you made some poor investment decisions,
maybe you’ve, you know, filed for bankruptcy, maybe you’ve gotten a lot of debt, right? And again, you should not be in those situations
to begin with because you should never invest all of your money into something. You’ve gotta have the money management IQ
and skills to know that you’ve gotta have savings, you gotta have an emergency fund,
and you’ve gotta make sure that you’re educated on how to manage money. And I’m doing this video because, again, a
lot of people send me messages and tell me, “I don’t have money, I don’t have money”. And, you know, this is a video that I’m gonna
send people to whenever they say that to help ensure they get on their feet financially
so they’re not in that situation again. So again, I really hope that you actually
have an open mind because some of what I’m gonna share with you, you’re not gonna maybe
like because it is gonna require a change in thinking, a change in behavior, a change
in habits if you wanna get yourself out of the situation that you’re in right now. It’s gonna require you takin’ responsibility
because, whether you like it or not, if you’re struggling, if you’re broke financially, there’s
no one else to blame for that but yourself. And I hate to say that, but that’s the first
step of anything. You’ve gotta take ownership and responsibility,
’cause as long as you’re blaming someone else, you’re not gonna have the power to change
it. The moment that you take on the responsibility
for whatever’s happened to you financially, and you take on that ownership, that responsibility
for your life being the way that it is, whether, you know, maybe you’ve been in a marriage
and you got divorced, you got screwed over, well you’re still responsible for that because
you’re the one that chose that partner, that made the decisions that have gotten you to
that point that you might be in right now. So taking responsibility, ownership, that’s
what gets the power back in your hands to actually do something about your situation
and make those changes. As long as you’re blaming others and it’s
because of the economy or my boss or my former employer or my business partner or whatever
it is, again, as long as you’re blaming, you have no power. You have no ownership or power to change your
situation to be able to get yourself back on track. So accept the fact that whatever decisions
that you’ve made, and maybe not even your conscious decisions, but whatever you’ve attracted
in your life, and I’m not sure if you believe in the law of attraction, but you attract
and you manifest things into your life based on who you are and how you show up, your mindset,
your attitude. You know, oftentimes people attract negative
people into their life, they attract scarcity, they attract problems and drama because that’s
what they’re puttin’ out there. You know, you attract what you put out, and
you get comin’ back to you. So takin’ that responsibility is really the
first step, alright? Now, let’s talk about what you would do if
you’re broke and struggling financially. And by the way, this is advice that I would
give myself, because there was once a time in my life where I was broke and I was struggling
financially, I was living on my friend’s couch. I had credit card debt, you know, I was barely
survivin’, and I was able to get myself out of that situation to where I am today, at
31 years old being a multi-millionaire. And it’s because of these steps that I went
through, and I wish I knew them a lot earlier because I would’ve gotten myself out of that
situation a lot faster, and the reason why I was in that situation was because of the
decisions that I made. And it wasn’t ’til I took that ownership,
that responsibility, I said, “You know what, I got no one else to blame but myself. You know, I’ve made these decisions, and now
I’m the only person that’s gonna be able to change this and I can’t expect anyone else
to pull me out of this”. So I created a plan for myself that would
get myself out of that situation to be able to change my life for the better, and that’s
what I wanna share with you guys. So I’m gonna write this out for you and give
you guys a few different steps of what I would do and what I would recommend for you guys. So the first thing, the first thing you need,
you need a vehicle for making money, ‘kay? A vehicle for making money. And a vehicle in the sense of a job, a business,
or whatever that might be, for making immediate short-term money, okay? So for a lot of you that are watchin’ this
right now, you’re broke, you’re strugglin’ financially, my number one answer to you would
be get a job. Okay? Get some sort of vehicle that can immediately
start making you some money. And I don’t care what that is, but it has
to be something that can provide for you immediately. So a lot of people, you know, come to me and
say, “Stefan, well I don’t have any money, so I’m gonna start a business”. And oftentimes, that’s the worst thing for
you to do because a business is not like a job, where a job you get paid for the hours
that you put in. A business is something that you’re putting
in time, you’re putting in energy, you’re putting in money into something, but you’re
not getting paid back immediately for it. Really what you’re getting is you’re investing
into something that has the potential to pay you back in the future. So a business, for most people, is not the
solution to this. Before you start a business, I actually recommend
that you have a job and you learn how to manage some money so that you can actually start
your business with some money that you can then invest in your business. You can invest in the right training, the
right education, and really start it off the right way so that you can really succeed and
prosper the best way possible. So the vehicle would be, you know, getting
a job. It could be a business if you already have
one, but again, that’s only something that’s already providing you money. Immediate cashflow is what you need, okay? You’re not gonna get rich quick, alright? If you think that, “Hey, you know, if I buy
this course or if I start selling on Amazon, whatever, next month, the next 30 days, I’m
gonna make all this money and solve my financial situation”. It’s not gonna work like that. It can take a long time before you really
start makin’ money in a business, and especially to profit from it. So keep that in mind and understand that. Now, you might already have a job, you might
already have a business. The business could even be like a freelance
business where you’re getting paid, maybe you get some clients and you’re doin’ some
freelance work and you’re gettin’ paid for every job that you do or every contract, great,
okay. But that is something that you need, and if
you don’t have a job, you gotta get one, okay? And beggars can’t be choosers, so I don’t
care if it’s workin’ at McDonald’s, I don’t care if it’s, whatever that you can get for
now, no matter what amount of money that it pays, take that as a way for you to make immediate
money, okay? And especially if you’re in that situation
where you’re, you know, broke and struggling, you’ve gotta get something going. And it might not be what’s ideal. That’s okay, but at least get a job. If it’s at McDonald’s, great. You’re makin’ minimum wage. Do that, but simultaneously, maybe you could
be looking for a better job and a better opportunity that could make you some more money that is
more ideal for, you know, being able to help yourself get on your feet financially. So that’s what I would do. I know for myself, I did physical labor, I
did construction work when I was broke and I was struggling. And I hated every minute of it, you know,
havin’ to go on job sites, and I was doin’ demolition work, I was doing insulation in
buildings and drywall and painting and all those things that, you know, I’d have to get
on the train and go an hour at six o’clock in the morning, and I’d get, you know, be
covered in sawdust and dirt, and you know, I’d be all day working, physically exhausted,
and then I’d come all the way back home on the train, and I’d repeat that same cycle
every single day. And the benefit of doing physical labor was
I was actually able to make a little bit more money. I think I was making about $20 an hour, because
you can often get more for doing trade-type work like that. And that was perfect for me because it allowed
me to have a vehicle to make money, it allowed me to put money aside, to save money and help
myself get back on my feet financially. So when getting a job or a business, whatever
it is, the main goal is to make money. It’s not doin’ your passion, it’s not doin’
what you love or anything like that. It’s just primarily to get yourself out of
the situation that you are right now, to get yourself back on your feet financially. I know a lot of people, what they do, a lot
of friends, that they’d go out and they’d work on the oil rigs. You know, there’s oil rigs here in Canada,
different parts of the world. They’d go out, it’s brutal, tiring, exhausting
work, but they make a lot of money by doing it, and they’re doing it maybe for a few months
so that they can make a lot of money and then be able to quit or they get some time off. They then take that money and they’re back
on their feet financially, they can make some smart decisions and not have to go back to
that. So understand, you are gonna have to make
a sacrifice. And it’s a short term sacrifice, it’s small
price to pay, but you know, this what you’re gonna have to do to get yourself out of the
situation that you are in financially. Now, if you’ve already got a job and it’s
still not enough for you, maybe you have to get a second job, maybe you’ve gotta get a
third job. Maybe you’ve gotta start lookin’ for jobs
that can pay you some more money, okay? And it’s not that hard to get a job. So I don’t wanna hear an excuse or a story
or a reason about why you can’t do it. There are 16 year old kids getting jobs. There’s billions of people around the planet
that have jobs. So if they can do it, you can too, okay? You have to learn how to be resourceful. You have to learn how to, you know, figure
things out and have that persistence, have that drive, and say, “You know what, I’m gonna
go out and get a job, I’m gonna add value to another business, another company, or I’m
gonna improve myself so that I have more value that I could then provide to a business or
a company to make more money”. Maybe you’ve gotta improve your skills, okay? Maybe you’ve gotta improve your value in order
to get paid more money with it, okay? But whatever you can get for now, start there. You have to have an immediate source of income. That’s step number one. Nothing else I can share with you is gonna
work for you unless you have that, okay? Step number one. Step number two, is you have to learn how
to manage your finances. ‘Kay? You have to learn how to manage it, because
here you’re making money, but what you do with that money is really the most important
thing. Now, for a lot of people, they make money,
again, if you’re watchin’ this right now, you probably have a job, you probably have
some sort of stream of income in your life. But if you have that and you’re still not
able to save money or invest in money, or you just don’t have money to put aside or
do certain things with, then that’s telling me that number two’s your problem. You’re not managing your money properly. You don’t manage the money that you have. Well, you know, maybe you make $2000 a month
but you’re spending all $2000 per month for your lifestyle in order to live, or maybe
it’s $5000 or $10000, whatever the number might be. Maybe it’s $1000. Whatever that is, if you can’t afford to save
money and put it aside and you’re livin’ month to month, paycheck to paycheck, then that’s
tellin’ me, again, that you’re not managing your money and you’re not making sacrifices. You’re actually living above your means or
on par with the amount of money that you make, and not below. So here’s the key when it comes to managing
your finances. I’ll give you a few keys, actually. Number one, you’re gonna track, so number
one, you’re gonna track your income and your expenses, ‘kay? You’ve gotta know this. I used to have a ritual where, every single
week, so I’d pay everything through credit cards or my debit card, and then what I would
do is, every single week, I would go through my bank accounts, I’d go through my credit
card statements, and I would keep a spreadsheet. And in that spreadsheet, I would track my
income for that week, for that month, I would track that in the spreadsheet, and then I’d
also track all of my expenses. And I’d just go through my bank statements,
my credit card statements, and I’d categorize it into different areas. So I would categorize and say, “Okay, this
is what I’m paying for my expense of my rent every month, this is what I’m paying for my
car payments or my bus pass or my gym membership or my cell phone or my internet or my utilities
bill or entertainment or eating out or groceries or food”. All that stuff, I would track it. And by doing that every single week, it would
help me learn to see where I’m spending my money and ensure that I’m actually spending
less than what I’m making, less that what I earn. So you have to have the awareness, ’cause
that’s really what tracking does for you. It gives you awareness, it gives you power. You feel empowered that you know where your
money is going. And that changed my life, just by doin’ that. Because what I was doin’ before is I wasn’t
tracking, and so I’d end up spending more than what I was making and I’d put that on
credit cards, and then before you know it, I was in debt. And when you’re in debt, it can be harder
to get yourself out of that situation, especially if it’s high-interest debt. So tracking is something you gotta do. And, you know, it should be pretty easy for
you to do, you know, ’cause probably, right now you don’t have that many income streams
or that many expenses. You know, for me, as my life has grown, now
I’ve got thousands of income streams and expenses, ’cause I run multiple businesses, and I need
a bookkeeper to help me with all of that. But this is something you can do yourself. Set up the spreadsheets for it. Track, know exactly where you’re money’s goin’. Now, once you know what your income is, what
your expenses are, you’re gonna have to budget. You are gonna have to make sacrifices, as
I said. That means you’re gonna have to cut out expenses,
because if you’re livin’ month to month, you’re doin’ something wrong. That might mean, you know what, you’ve gotta
downgrade. You’ve gotta downgrade your home, ’cause a
lot of you might be living in homes that you can’t afford. One thing I had to do, like I said, is I moved
in with my friend and I lived on his couch in his living room, on his futon. And I paid $300 a month for that as a way
to save money, to make a sacrifice. Now, did I enjoy that? No. That was embarrassing for me. I was single, I was dating, I was embarrassed
to bring, you know, a girl home and show her where I was staying. It was very humbling for me. You know, I had to admit to different people
and stuff that I was struggling, because I couldn’t afford to live on my own. Another point, in my 20s I had to move back
in with my mom, you know, and just try to save some money, or get myself back on my
feet for a few months. Did I want to do that, no. Was that embarrassing, yes. But I was willing to pay that price. I was willing to make that short-term sacrifice
because I was focused long-term on where I wanted to be, and that’s what I had to do
to get myself out of that situation that I was in financially. You might have to sell your car. I had a beat-up Honda Civic for a number of,
like 1989 Honda Civic that was like $1500, that I had it for. It actually had to sell that at a certain
point and just take the bus, ’cause I can get a bus pass for like $70 a month. And I just took the bus everywhere. And did I want to do that, no. I’d much rather have a car. But I had to. I was, again, focused long-term on where I
wanted to go, and I was willin’ to make those sacrifices. You know, I had to cut out my Netflix subscriptions,
I had to cut out, you know, got rid of my TV and my video games and all those things
because I learned that a TV is an electronic income reducing machine. The more time you spend just watching TV,
you’re missing out on opportunities that could then make you money. So I got rid of my TV, I got rid of things
that weren’t supporting or helping me create the life that I wanted and to get to where
I wanted to go. And you might have to do that. You might have to sell stuff, too. I’m sure you have a lot of stuff that you
could probably sell, whether that’s clothing, technology, gadgets, things that you’re not
really utilizing in your life that could help you get yourself back on your feet financially. So sacrifices is key. Making a budget, sticking to that budget is
very, very important. Now, I’m not sure if you watched a video that
I did on my YouTube channel on money management. And inside my Life Mastery Accelerator program,
I go more into money management, investing, I’ve got a really in-depth that video on that,
on how to invest your money and whatnot. But one the things that I shared that I actually
learned from T Harv Eker is how to allocate your money. And this is a good formula for you to start
with. This is what I did for myself. And if you want to, you could even modify
it based on your circumstances. But this is just a good template, a formula
for you to follow. So when it comes to managing finances, whatever
amount of money you make, again, you gotta track that, you gotta know what it is. Here’s how you’d wanna allocate it. You’d wanna put 55% of whatever you make to
necessities, ‘kay, necessities. Necessities are your rent, your home, your
utilities bill, your food, your groceries, your car, your transportation, all that sort
of stuff. That’s your necessities. 55%. Now, a lot of people, they’re putting 100%
of what they make to necessities. Huge mistake. You’re not gonna be able to get yourself out
of the situation that you’re in financially if you’re doing that, because then you’re
just month to month, not getting ahead. You’re just running the rat race, as they
call it. So 55% to necessities. And then you wanna put 10% to long-term savings. ‘Kay, long-term savings. This has to be a priority. You have to save money, you have to put money
aside. And ideally what you wanna do is you wanna
build up a reserve, an emergency fund. That why you should never be in a bad situation
financially because, you know, oftentimes people are in those situations because they
didn’t put aside an emergency fund, they didn’t have savings. This is something that you don’t spend. It’s something that you reserve for financial
crisis, for an emergency, a rainy day. You’ve gotta have that money you put aside
for that. So 10% of what you make, you gotta put towards
that. And ideally you wanna build it up to six months
of whatever your expenses or income is. Have six months of your monthly income or
whatever put aside and saved for an emergency, okay? So you gotta make sure you have that. That’s to avoid, you know, in times where
you might lose your job, and in times where somethin’ might happen, you gotta make sure
you got that money put aside for it. You gotta prepare for those things. Next, 10% you need to put aside for what is
called financial freedom. ‘Kay, a financial freedom account. This is for opportunities to invest, to create
financial freedom, financial abundance in your life. This could be investing in stocks or cryptocurrencies
or in an online business. Some sort of vehicle that can then make you
more money in the future and help ideally make you passive income, passive residual
income that can then be on autopilot to continuously make you more money. So you gotta put money aside to that for your
future, to invest in yourself. Another 10% you’ve gotta put towards education. You’ve gotta invest in yourself, because how
are you gonna really change your life if you don’t have the financial means to invest in
yourself, to learn from others, to invest in seminars, training, courses, coaches, and
mentors. That’s really what’s gonna get you to financial
prosperity. That’s what did it for me is when I realized,
“Okay, you know what? If I just keep livin’ in the rat race, I’m
not gonna get ahead. I’ve gotta educate myself and learn, and by
putting money in here, you learn what to do with the money to create financial freedom”. You know? So I started learning about online business
and selling on Amazon and all the different things to build my business to where it is
today, and I still do. I put an excessive amount of money into this,
and in doing so, it helps me create more financial freedom, and also improve my lifestyle in
other parts of my life as well, ‘kay? So you gotta put money aside for education,
for courses, for trainings, or whatever that might be. And then another 10% you’re gonna put towards
fun. ‘Kay? So you gotta have some fun. You’ve gotta enjoy yourself. And oftentimes, you’re gonna get more fun
out of your life by putting money aside and then being strategic about how you wanna use
that money. You know, a lot of people just, month after
month, they’re just spending their money goin’ to the bar, you know, goin’ to the club and
drinking and alcohol. And they can’t afford that, that’s not an
intelligent way of using that money for fun. Maybe there’s some other things you could
do with that that are really more fun than just goin’ out and drinkin’ every weekend. So you gotta make sure that you put money
aside for fun. This is actually something, for me personally,
I decided, you know, when I started doin’ this, I actually sacrificed this area significantly
because I realized that I could get myself out of this situation of being in debt a lot
faster by instead putting some of this money more to paying off my debt or using some of
this 10% to more financial freedom or education. So that’s what I personally did. You know, I was willin’ to sacrifice this,
but fun is also good because it rewards yourself. It helps you have a bit of balance in your
life, too. So that’s up to you how you wanna modify it. And then the last 5% is to give, to contribute
beyond yourself. And even if you don’t have money, I found
this is extremely important because it trains yourself to live in a state of abundance,
it trains your brain that there’s more than enough. And maybe for you it’s more than 5% or maybe
it’s less. But I have often said, if you watch a lot
of my videos, when you give, it’s not necessarily the amount as it is the habit. It could just be givin’ $1 to a homeless person
on the street. But what you do with that is it really opens
up your mind and it makes you feel good about yourself, and sure enough what happens is
you attract more money, more wealth into your life. You know, oftentimes, people are so attached
to the money that they’ve got, they’re so afraid of losing it or parting ways with it
or investing it or whatever it is. And if you’re tryin’ to hold onto what you
got and you’re closed off, then you’re not gonna be open to receiving more. It’s not ’til you’re open and you’re willing
to part that attachment, you live in abundance, that’s where more wealth, more money, more
opportunities flow your way. So having a habit of giving and contributing
is extremely important. Again, it’s not about the amount, it’s the
habit of it to train yourself to live in an abundant state, ‘kay? So this is a good formula for you to follow,
‘kay? Again, you can modify it a bit if you’d like. But the most important ones are savings, financial
freedom, education. Those are the most important ones that you
have to prioritize that you’re not prioritizing right now if you’re in the situation that
you’re in. And this is a mindset shift more than anything
else. You gotta shift your mindset. You gotta be more future and long-term thinking
than the short-term. And you’re gonna have to make those sacrifices
to make sure that you’re living well below your means, ‘kay? Very important. So I’ve already talked about managing finances,
sacrifices. You know, and I also wanna really emphasize
sacrifices, because this actually was a huge change in my thinking for me, because, you
know, when I was tryin’ to get myself out of this situation, part of it was I wasn’t
willing to make sacrifices. And I thought, “You know, I can have it all. I can live this, you know, balanced lifestyle,
whatnot”. And I actually decided to interview a lot
of people that were more financially successful than myself. And one of the things that I found out that
was common throughout them is they all had to make sacrifices to get to where they’re
at today. I remember even talking to my brother about
this, who was very successful financially, at the time. And you know, I was talkin’ to him, and he
actually, he used to work for my dad in the family business doin’ bathtubs, acrylic bathtubs,
sinks, and showers. Physical labor stuff. And he had to live in the warehouse for a
few years. And he lived in, like, in one of the offices
and turned it into a little suite. And he had to live there and make that sacrifice
to get himself out of debt and get himself back on his feet financially. I have a cousin who is fairly successful now,
and he owned a gas station, a Petro-Canada gas station here in Canada, and he actually
lived in the gas station for, I think, a few months or even a few years. And that was a sacrifice he had to make to
be able to save money, to be able to, you know, do what I’m sharing with you guys here,
you know, do this stuff. You know, I’ve had to do that. And most people that are ahead financially
had to make a sacrifice. So that was just the reality. The sooner I was able to accept that reality,
then it really freed me and empowered me a lot because I believed that, you know, I was
doin’ this just short-term, but just really was confident in the plan that I had of where
it was gonna take me and where I was gonna go in my life. So be willin’ to make those sacrifices, because
part of getting what you want is knowing what you have to give up in order to have it. ‘Kay? So sacrifices, guys. I’ll give you another key here, guys, is you
have to invest in yourself. Invest in yourself. And really, doing this here is really what’s
allowing you to do number three. And like I said, it’s gonna be very hard for
you to really change your life if you’re not able to invest in yourself. Warren Buffett, one of the richest men in
the world has said the best investment you can make is not in a stock or a mutual fund
or real estate, it’s in yourself. Investing in yourself. And I really believe this has been the key,
the secret to getting to where I’m at right now. You know, I remember that time when I was
living in my friend’s living room, and I was just, I was in credit card debt, I was tryin’
to find ways to get myself out of that debt and get myself back on my feet financially. You know, I remember at certain times, I had
a little bit more money, and with that money, I had the choice, I had the choice of either
I could take that money and I could go and live on my own and put some of that money
more into my necessities and I could get my own place and my own car, and I could, you
know, upgrade my lifestyle, or I could take that money and I could invest in myself. And when I weighed my two options with it,
I realized that what would get me further in my life is takin’ that money to invest
in myself. So when I was in that situation, I invested
in a coach. I invested in the 100 Day Challenge program. That’s the first time I ever did that, when
I was in that financial situation. I remember I invested in going to a seminar
in New York. And I had to fly all the way there and I had
to find a roommate to stay with at the hotel in order to go to a seminar, because I realized
that my life was not gonna change unless I was willing to invest in myself and do things
differently that what I was doin’ before. Because what I was doin’ before was not workin’
for me. I had to make changes in what I was doin’
with my money. And I believed that investing in myself, then
it would help me get to a position where I would be able to create more financial wealth,
more financial abundance, I’ll be able to grow a business, be able to make more money,
be able to get more promotions in a job if I wanted to or be able to get a higher-paying
job. I recognized the importance of this. Now, lookin’ back, you know, a lot of people
would say that’s crazy. You know, here’s Stefan, you’re broke, you’re
struggling, you have this money, you could, you know, get out on your feet, you know,
go and live in your own place, but you decided to take that money and invest in yourself
instead. That was the mindset shift that changed everything
for me, guys, when I was willin’ to do that. And what I found is I actually got so much
value out of doin’ that because when I invested money in myself, I didn’t have a lot of money
to invest. You know, I just barely scraped by. I had to be resourceful to be able to find
a way to get that money to invest in myself. But what I found is when I invested in the
training or the seminar or whatever that was, I got so much more value than anyone else,
because it took me so much, that money that I invested was so valuable to me that I got
really good results because I took it seriously. Now, often they say the more that you pay,
the more that you pay attention. So I took my training, my education even more
seriously. I applied everything that they said at the
seminar or through the course. I went back through it again and again. I took a million notes in my journals, which
I still have to this day. And I cherish those times because I just appreciate
it so much ’cause it took me so much to do that that I just got so much more value because
of it. So invest in yourself. And I’ll give you guys another key. I’m just gonna give you guys this and I’ll
break it down. It’s to create wealth. You gotta now create a new vehicle for not
just makin’ money but really what it is is a vehicle for financial freedom. For financial abundance, guys, because this
vehicle right here might not get you there, you know? A job isn’t gonna create you freedom. You know, ’cause you’re trading your time
for money, in that case. And so now you’re in a position where you
can really look at creating wealth, you can look at an online business, you can look at,
you know, investing in an online business and trainings, and really takin’ it seriously,
and really build it up to where you want it to go, to create passive income for yourself
and a certain lifestyle. Or you can take that and maybe creating wealth
through learning how to invest in stocks or real estate or some other vehicle like that
that again, has the potential to create financial freedom, passive income, financial abundance. So that’s really what you need to be able
to focus on in order to get to where you wanna go. And when you’re creating this, what happens
is now you’ve built the habits of managing your money, ‘kay, so now you know how to manage
and you know what to do with this new wealth that you’re now creating here. But also, more importantly, because you’ve
already been through this, you’ve struggled financially, then I know for myself, what
I did is I made a decision that I’ll never again be in that position again. And I actually let the pain of where I was
before to motivate myself to really change and make sure that I made smart decisions
with my money, I invested it in the right things, things that would bring me more opportunity,
more potential, more freedom, more of what I want in my life. More assets than liabilities. And that was a key thing for me is I actually
believe that struggling financially, being in debt, the situation that I was in was actually
a blessing. And if you’re in that situation now, you might
not be able to see that just yet, but once you get out of it you’ll realize that it was. ‘Cause I’m so grateful for those times that
I went, the years that I spent struggling financially because it really taught me how
to manage money, it taught me how to be resourceful, it taught me how to be strong, it taught me
now to be attached to materialistic things. It taught me to still be able to, you know,
to create drive and hunger and be motivated and do what it takes to really change the
situation that I was in. It also taught me how to add value, because
often people struggle ’cause they’re only focused on themselves. But in order to really create wealth, you’ve
gotta be able to find ways to add value. Because you’re only gonna get paid based on
the contributions that you make. You know, if you’re workin’ for a businesses,
you’re getting paid for the value that you’re providing to that business. If you’re selling a product or a service,
you’re only gettin’ paid based on the value that your product or service provides. So you have to shift your mindset to be a
giver, to add value, to create value and become more valuable, ’cause the more that you do
that, the more wealth and more financial abundance you’re gonna create in your life. So this is, again, where you really wanna
focus on building a business, you know? This is where, you know, a lot of people,
for example, they come to me, “Stefan, I can’t afford to start a business, I can’t afford
this course or this training that you might have”. Well, then you gotta start here and you gotta
start here, and then when you’re here and you’re ready to take some of this money from
your education and some of this money, now you’re ready for a course. Now you’re ready to build your business. Now you’re ready to really create that wealth
and be able to do it the right way and fast-track it, accelerate it and get to where you wanna
go. And oftentimes, you wanna do this while you
still have a job. You don’t just wanna quit your job and then
start a business, right? You start your business on the side, and you
build it up to a point where it’s making you a positive cashflow and profit, in which case
that you can then depend that your business will then support you. And then you can quit your job and work at
this full-time. Because now this is dependable for you, it’s
a reliable stream of income that you can then depend upon. And that’s what I did for myself. That’s what most people that I know have done,
as well. And I think this is really the plan to change
your financial situation for the better, to get to where you wanna go. And of course, investing in yourself might
be reading books, goin’ to seminars, learning about finances, about money. You know, I’ve shared a lot of videos and
stuff on my channel that can also help you with your mindset around this, but, you know,
find books, find coaches, find courses and training programs and resources that can really
help you get to where you wanna go. You know, that’s the key. You know, to this day, I’m still investing
more money than I’ve ever invested in my life into my own education, into my own future,
’cause I believe in this. This is what’s gotten me where I’m at today. Why would I stop investing in myself? Why would I stop hiring coaches? I do that even more than ever before, ’cause
I wanna continue to grow, and I wanna be able to continue to learn and become more valuable
so that I have more value to provide. And I hope by doing that, by adding more value,
the more money that I’ll make in the process, too. So this video has been fairly long, but I
wanted to go more in depth, I wanted to share the mindset and the strategies that the steps
that I took and that I would take if was startin’ over again. And it can hopefully help ensure that you
get yourself back on your feet financially. And you know, you’re gonna have to, again,
make that sacrifice here, but once you get here, you know, and you get that point, it’s
a small price to pay because you’re gonna be able to live the rest of your life free. You’re gonna be able to live the rest of your
life financially abundant, and you’re really not gonna have to worry much about money again. So if you have to go through this phase for
a few years, it’s worth it. You know? You gotta, again, think long-term in your
decision-making. And it might suck for a year or two years
or three years, but, you know, once you get yourself out of that situation, now you’re
on the fast track. And the fast track, the fast lane is what’s
gonna, you know, it’s amazing how much your life will change once you’re there. So understand that you’re gonna have to go
through this, and this is the path that’s gonna help you lead to where you wanna go. So listen, I wanna thank you so much for watchin’
this video. Hopefully you enjoyed it. My Life Mastery Accelerator program goes more
into finances and also investing money, too, if you wanna learn more in-depth strategies
for that. But I wanna thank you. I wish you the best of luck. I believe in you. I know for a fact that you can change your
financial situation, you just gotta have the right mindset, the right attitude about goin’
about it. You’re in the right place. Just follow this plan, guys, to get out of
the situation that you’re in and to get to where you wanna be. Thank you so much. Make sure to subscribe for more videos. Like this video, leave a comment, and I’ll
talk to you guys again, soon. Take care.

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