How millionaires invest and manage their money differently. This is the first time I am doing a workshop or a meeting on how to invest and manage your money. I’ve been doing this for almost two years now and I’ve been always talking about how to make money. How to close sales, how to do lead generation, how to do positioning, how to do marketing. All these things and this is the first time that I do it because a few months ago I did a survey for our members. And I gave them a list of topics that they want to learn and they say. “you know what, one of the topics that we want to learn Dan, it’s how to manage our money.” And that’s interesting because this is something I love to talk about but I wasn’t sure if the group is ready for it.
Now, just before the workshop that I got a few e-mails from our members. They’re saying “you know what Dan? I’m struggling with money or I’m still learning how to make money. Or I don’t have any money to manage, so, you know, this workshop ain’t for me.” And there lies the first fucking problem. It’s like this, it’s absolutely stupid. It’s like saying I’ll exercise when I’m fit. You don’t wait till you’re fit and then you exercise. You exercise to get fit. So, if you don’t have any money right now you don’t wait till I’ll make more money. Then I’ll learn to manage it.
The very fact you don’t have a lot to manage right now shows you don’t know how to manage it. It’s very simple. So, it’s not that you wait till you have money, then you do it. It’s that along the way, as you make money. You have to learn how to manage it. If you making 5,000 a month and you can’t manage 5,000. What makes you think you can manage 50,000 a month? What makes you think you can manage half a million a month? You can’t even manage the five grand that you have and that’s how it works. Money is attracted to people who know how to multiply. Write it down.
Money is attracted to people who know how to multiply. That’s why the rich get richer. Has nothing to do with opportunity. It’s for them, it’s not for others. It’s not about that. It’s because they have the skillset to multiply and money’s attracted to that. And that’s why they grow their wealth at a very rapid pace. So let me share something with you of my own, kind of, financial journey, okay? Now I’ve not always been financially successful. I once struggled, just like most people from month to month. Living, kind of, paycheck to paycheck and trying to make ends meet.
The lowest point of my life I remember back then when I had no money. And at the time I was living with my mom in Surrey in a one-bedroom apartment. That we rent and my mom and I would go to the. There’s a bakery near my house about the ten-minute drive and once a week, we’ll go there around six PM. Now, the bakery closes at seven PM. You know why I go at six PM? Yep, because you can get a load of bread for just a few dollars and my mom and I would buy that load of bread and we ate that for breakfast. We ate that for lunch for the entire week and my mom and I would go to the store, SuperStore, the grocery store. And we would go to, not the vegetable fruit section, we would go to the corner where they have the almost expired food.
How many know what I’m talking about? Yep, we buy groceries like that. So I know what it’s like not to have money. I know that. We had, I had multiple credit cards all maxed out. Trying to max out this one and do cash withdrawal. Trying to make the minimum payment on that one and then that one is maxed out. And try to get another card and that one is maxed out. I know that. Through my business failure, at one point I was 150,000 dollars in debt. 150,000 dollars in debt. So, when I first started making more money as I turned my life around. I often lived beyond my means and on many occasions, just spent, just spent money and struggled to pay bills on time.
Now, although, on the surface based on my lifestyle, driving a nice car. I was spending money and I was going on vacation and buying my friend’s dinner and all that stuff, to be doing quite well. But the reality is I was spending so much time worrying about money and my financial situation. Now, why, and when I first started making money, why did I feel the need to spend it because, when I had no money, I had no self-control. I had no friends, so as I make more money. I thought if I’m buying my friends dinner, by treating them well, by taking them on vacations, that, gets what, I get what? What? Friends, attention, makes me feel good. Yeah, maybe a little bit even love, right? Just get some attention for me.
I thought that’s what you do to friends. Now, let me ask you a question. If my friends are friends with me because I buy them stuff, are they true friends? No, they’re not true friends because true friends are with you no matter what. It doesn’t matter how much money you have. I learned that lesson because when I stopped buying them stuff, they stopped showing up, right? So maybe there’s something wrong with my personality. So, in my twenties, I had focused most of my energy and time knowing how to make more money. Now, here’s the key.
I had to believe that, which I now know to be false, that I could just make more money. Everything would work out. Now, put up your hand, how many of you are very good at sales and marketing and making money. It’s relatively easy for you? Just put up your hand. You’re good at making it, okay? Same thing with me. I thought, oh, easy, I can make another sale. I can do more marketing, generate more leads, close another sale. I can make money. Nah, no problem, I can always make more. I can always make more. And I came to realize that that just wasn’t true.