One of the most common questions I get is "how can I get more money?"
Even though this seems like a difficult question to answer it can be solved with a few small key changes to your daily routine.
This is possible because of the principle of compound interest. Basically, the small choices you’re going to make today will have a profound impact on your life tomorrow. Every little decision you take today will compound and play a big part in your future.
Choosing to eat an apple instead of a bag of chips won’t make any difference for you today. But making this choice consistently will have a huge impact on your health.
Bringing lunch from home instead of going out won’t make much of a difference today. But the $15 you’ll save day after day will make an enormous difference in even just one year allowing you to build a MASSIVE real estate portfolio.
Here is what that math actually looks like:
$15 per week day
or $300 per month
or $3,600 per year
After just ONE YEAR you will have enough to buy a $100,000 rental property that pays you every month! (using an FHA loan)
Now let's look at the math in year TWO:
$3,600 saved from packing a lunch
$12,000 earned/saved from the rental property
After TWO YEARS you have enough to buy your NEXT property and then some. (using second FHA, or $0 down loans)
Just imagine what could happen in year THREE...
It’s called the magic of compound interest.
Don’t underestimate the impact of the choices you make today. Build healthy habits now. Enjoy life but start saving money so you can start investing. Then you can watch your money grow while most struggle to have "enough" in their bank account.
Your knowledge about money, investing and credit is what will propel you forward in life. In fact, knowledge will be your greatest asset for the future.
I'd love to help level up your financial education with CREDIT 101