Return on YOUR Money

Hello, my friend and future millionaire. 

Welcome to this episode of The Money Wheel. 

My name is Don Shade. 

Now in the last few episodes, we’ve covered a lot of territory.

I don’t want you to become overwhelmed by it. 

I want you to focus on it one step at a time and make some daily decisions that you’re going to stick by.

 Now, with all that being said, it’s time to talk about you getting an 18 to 29% return on your money.

I know what you’re thinking. You’re thinking, wow, how do I do that? 

Well, the answer is this. 

We start building your business and get you some income rolling in.

And then we look at your credit card with the lowest balance and that’s the one we attack first. 

You see, now we’re starting to get into the phase where you’re going to take some of the money you’re making from your business and we’re going to start handling some of the debt that you’ve created through decisions that you made in your life up until now.

Because now we are back on track to build you the million dollar roadmap. 

You know, it’s never how much money you make, it’s how much you keep. 

It doesn’t matter if you make a hundred thousand dollars a year, if you spend 105, you’re not building any wealth, you’re going into debt.

The main thing I wanted to teach you through this million dollar roadmap is number one, how to make the income, but also number two, how to keep it, we’re going to have to go back and clean up.

Some of the decisions you made earlier in your life that you may have wished that you wouldn’t have done.

For example, if I had it to do over again, I wanted to buy nearly as many new cars because I’m a big car guy and I had a lot of them. 

My uncle told me one time when I went back home to visit, he said, I’d wave at you, but I never know what you’re going to be driving, which was true.

That’s how I spent my money back then, you know, back when I wasn’t smart enough to figure wealth out just yet.

And maybe you’re someone who, you got a few credit cards and you looked at it as income and you went out and bought all the stuff you wanted and now you’re carrying that debt and you’re trying to figure out how am I going to get all this paid off?

That’s part of what we’re going to look at here is we build a million dollar roadmap. 

And the reason I say to you about giving an 18 to 29% return on your money is because that’s what you have once you pay off that first credit card, because that’s the interest rate that they’re charging you. 

Now, the reason we look at your lowest balance credit card, I want you to know what victory feels like.

In other words, we’re going to make minimum payment on all the rest of the cards, and we’re going to attack the one with the lowest balance so that you can carry one empty credit card in your wallet.

And it may take a couple months to make this happen. 

And one of the things we’re going to have to do, if you’re married, is you’re going to want to bring your spouse on board of, okay, we’re starting to make some money on our online business, or maybe you haven’t made any money yet, but you can see it coming together.

You can see your business starting to grow. 

The money is right around the corner. 

Maybe you’re somebody right now that you’re spending more money on ads than you’re making, but you can see your email list growing over time so you know the money will be there. 

You just have to be willing to put the work in, keep in mind, we’re trying to make your yearly income, your monthly income.

There’s a lot of little steps between where you are now and where you want to be. 

And one of those little steps is okay.

We need to start looking at the debt you’ve created and what it takes to get out. 

Every time we pay off one credit card, we’re one step closer to getting you financially free.

You know, I don’t have a problem if you use credit cards. 

I mean, I have all kinds of credit cards and I like to use them; they’re convenient. 

But one of the things I do want to make sure of is that you’re paying close attention to how you’re spending your money and what’s happening moving forward. 

The sad part of it is when you get out of school for the first time and you’re on your own and you go out and you get a car loan and you get one credit card and next thing you know, you’ve got four of them.

Never at any time, do you look back and think I’m going to get out of debt so that all the money that I make is my money.

It just keeps being this revolving circle. 

You ended up with four credit cards; Next thing you know, you’ve got six.

And then you’re making minimum payments and what happens before you realize it is your budget is actually in the red and the reason you don’t see it is because you’re using credit cards to survive.

It’s time to put a stop to that and it’s time to start building wealth. 

We want to look at getting you out of debt.

As we build your business, I want you to know what it’s like to have cash in your pocket. 

See, when you do a credit card transaction, it takes the pain out of everything.

You don’t have the feeling of spending money, the way you do if you were to reach in your pocket and spend $200, taking your whole family out to dinner, you would feel different.

If you use cash versus using a credit card, I want you to know what it feels like to spend cash, to have the cash in your pocket.

We’re going to start changing the way you think about money and your relationship with money moving forward. 

That’s everything I have for this episode of The Money Wheel.