Are You Broke in 2018? Here's What To Do Now

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Are you broke as a joke in 2018? Here are some tips to help you get out of that broke situation. Enjoy!

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What should you do if you’re broke in 2018? That is what we are talking about here today, guys, let’s say you have no money or virtually no money in your life, almost everybody has been there unless you were born with super rich parents, like you were broke at one time. Okay.

I was broke at one time, anybody unless you had super rich parents, you are broke at one time. Okay. So what the heck do you do? Well, the first thing is realize you’re not a loser. Okay? Just because you were broke right now does not mean you are a loser.

All right? The majority of people in the world are broke, okay, the majority of people in the world are broke, meaning they have virtually no net worth, or maybe even a negative net worth, okay, maybe they actually have more debts than they have assets.

Something to keep in mind here. Even in a grain, you know, huge developed country like the United States of America, right? The United States of America, the great old USA, all right, around 50%, around 50% of our population here in the United States of America is broke or virtually broke.

They don’t look broke, okay, doesn’t mean that you know, 50% of our population is going around asking for change on the corner and can’t afford to buy themselves a new pair of pants if they rep or something.

That’s not at all what this means. Like there’s some of these people they drive the new Toyota Camry and they live in a house is 2200 square feet, and you’re like, wow, that person is doing all right for themselves.

They live in a nice middle class lifestyle. But really, when you break it down, they are broke. Okay? So it’s not the end of the world. All right, these people just generally have a lot more in debts and they have assets, okay.

They took out a big mortgage, they got a big car loan, they got this and that. And they have very little money in the bank, they have very little money in investments, their money’s not even really making them money in the end.

So which makes them broke in the end, okay, you got more liabilities and you have assets, you are broke, okay? So don’t worry, you’re not loser. You’re not like some Castaway. You’re not like, you know, a horrible person or something like that.

Like, you’re just you’re actually in the in the majority, okay, you’re actually hitting the majority of people because the majority of people out there are broke, they have virtually no net worth. Okay.

So the question is understanding this, that’s a big thing. Just understand mentally, like, it’s not the end of the world. How do we go from here? Okay. And remember, every, almost everybody is broke, okay, at one point in their life, okay.

So you might be broke right now. It’s not the end of the world, man. It’s not the end of the world. You know, like I said, unless you were born with rich parents, you know, they were multimillionaires and billionaires and they started some business or something like.

Like, you were like, everybody’s been broke at some point. Okay, so just keep that in mind. So the question is, where do you go from here? Okay. Well, the first thing to understand is you got to take little steps, okay? You got to take little steps to get you there.

And these steps, although they seem small, they’re actually massive. Okay. So for instance, when I first started investing in the stock market, my first investment was somewhere around $300. Okay, my first investment was somewhere around $300.

That seems super small time that seems like like, you know, like, pathetic or whatever, you know, where you want to demonize this first amount of money. That’s what I started with. It’s a very small step. But it was my first step.

And it was a gigantic step that that leaped the you know, that that sprung me forward in my entire life. This first $300 investment, very small amount of money, was the first huge step in my life to taking control of financial freedom for myself.

And for building an actual net worth for myself and taking myself out of poverty, taking myself out of being broke, okay? That’s a big, big, big thing, okay? So no matter how small the amount of money is, you want to put to work for yourself, just realize that low step is really a big step in the grand scheme of Okay.

And then from there, once you take that first step, then it’s about building Okay, then it’s all about building, then it’s all about growth, okay? building and growth from there, you want to get to a place where you can take that $300 investment and next thing you know.

Hopefully you made some money on that now that investments worth $350 Okay, you did successful investment there, then you put you put another 100 200 bucks in Okay, so now all sudden, you’re up to $550 invested.

This still looks like small steps, it still looks like little steps. It looks like you’re doing small time stuff. Looks like you’re not getting anywhere, right? This is a massive increase. Okay, let’s say you know, six months prior, you had you know, $0 is your net worth.

You just made a massive improvement. Guys. You just made a massive improvement. You went from no net worth to $550 net worth, okay. That’s a massive change. So although it seems like man, how am I ever going to get to be a millionaire from here.

Realize it’s a process these little steps are actually some of the biggest steps you will ever take in your life. Okay, it’s an initial step. These are the steps that most people are not taking, okay? Most people aren’t taking the or undoing these steps.

Okay? Most people that are look at this and I say 300 bucks, you know, to invest my my first investment. Well, first off when I was, you know, doing this my first investment, I was somewhere around 18 or 19 years old, okay.

For those who guys do not know, I’m 28 now, so I’ve been in the stock market for about a decade, most people at 1819 years old would say, I have $300 saved, what can I go out and spend that $300 on that $300 isn’t gonna make me anything anyways, okay.

What can I go spend this $300 on to go have a good time or whatever, okay, that’s how most people are gonna think most people aren’t even going to take this step, guys. And that’s sad, because this little step is a monster step.

Because what ends up happening is they keep procrastinating, they keep procrastinating, and then and then they start adding depth to life, all of a sudden, maybe they start getting a little better job and whatnot, they start making a little more money.

And so then they think I can afford this new car, I can afford this new place, I can afford this new flat screen TV on a credit card, I can afford this new Mac on a credit card, I can afford this new iPhone on a credit card, this and that, and this and that.

And the next thing, you know, these people are loaded up on debt. And they still have yet to really start investing. And the next thing you know, the 2526 years old, and they still haven’t even begun the game yet. Okay, this little step here is the biggest step forward.

Because this takes you from a mindset of let me spend money on you know, companies items, to let me own the company, let me buy that company. And if you don’t want to do it with stocks, you can do it with real estate as well.

Obviously, it’s much harder with small amounts of money to do it in real estate. It’s not impossible. You can buy rates and things like that. But stock market investing, you’re buying part ownership of a corporation, that’s big time that takes you from the mindset of, wow.

I’m just going to I guess you can say buy stuff from this corporation, or I’m going to own the corporation. It’s a big mindset shift. Okay, little thing. That’s really a huge thing. Okay. So you start here, this is a biggest step, then it’s all about building growth from here.

You’ve got to avoid these debts here. Okay. These debts are what kill you. When we’re talking about consumer debt. That’s what kills you. consumer debt. Okay, consumer debt, consumer debts kill you. Okay.

So one thing if you have a business and you take out a loan to you know, expand that business, that’s a whole different ballgame, okay, that’s called business debts. It’s a whole different ballgame, a company, you can see the majority of big companies out there.

They almost all have debts of some kind, okay, almost all of them either have short term debt, or long term debt. But you know, why they take out that debt that ends up, you know, making them a lot more money than what that debts worth, they take out a billion dollar loan.

Well, that billion dollar loan actually made them 2345 $6 billion back many times as long as a good Corporation, rather than you know, they could have not done that. Instead, they wouldn’t have had an extra four or five, Billy, most people are taken out consumer debts, okay.

They’re taken out consumer debts to go buy more stuff out there, okay, they’re taking out consumer debts to go buy more stuff, it’s a bad bad decision, guys, you’re taking away from yourself, and then the amount of money you have coming in that amount of money.

It can either be going toward investments, okay? And it can go toward building or can go toward debts, okay? And most people have it going toward debts, all right. Also, another thing people don’t understand when they’re broke or don’t have much money is they understand, let me erase some of this.

And then we’ll kind of get into this next part. Lot of people, they don’t understand that. Investing in themselves can many times be the biggest investment you can make, okay? Not just investing in company, not just investing in real estate.

A lot of times investing in you can be the biggest investment you can make, okay, the biggest investment you can make, but where people get this twisted, where people get this twisted, is they think a name that starts with a see otherwise known as college is the only real way you can invest in you.

That’s the only way you can invest in you and make yourself you know, better out there in the world when this couldn’t be further from the truth. Okay. I’m self taught, you know, primarily, I did go to community college for a couple years.

Didn’t graduate with any degree or anything like that. So I did learn some from community college, but the majority of knowledge, the majority of stuff that has actually made me a lot of money in this world.

It was not from college guys. It was not from college. The majority of money I made in my life was from self. Okay, self taught, meaning I went out and actually taught myself stuff okay, I actually went out and research stuff. Okay.

I actually went on the internet this grain thing called the internet, Google in research. stuff. I’m self taught myself almost everything about stock market investing, other than like, you know, learning the fundamentals of balance sheet income statement, cash flows and things like that.

I learned that actually in community college, but honestly, I could have self taught myself that too. I could have looked up videos at that time, I could, you know, read articles and whatnot, I could have I could have read books.

I could have understood that even without going to college. It’s not rocket science. Okay. The majority of money I’ve made in my life is not from those two years I spent in college, okay, no, they are not.

They’re from self taught things. everything I know about stock market investing, is all self taught is all research. There’s all books I bought, oh, you know, I’ve never bought video courses, because my time of learning wasn’t really a video course time.

But it’s like, like, books were my main thing. YouTube videos like Google, like these wonderful things that are out there. We’re all things I help self teach myself, guys. And it’s, it’s been unbelievable.

So you got to realize that college is not the only way because that’s the way you thought, you know, you’re taught. And then you think, man college. Oh, my gosh, college, you know, I’m gonna end up having to spend 20 you know, 30 $40,000 on this thing, right.

And can you get Zion? Please? He’s banging on the glass door. Yeah, play with them in the pound, please. Yeah. How can you as a broke person look at this as a realistic possibility? You’re gonna say.

Well, first off, if you’re broke, you don’t have 2030 $40,000 laying around. And sometimes college can be a lot more than that. Right? So you’re looking at this and you’re like, Okay, I got to take out massive amounts of depth.

You know what the worst thing about college debt is not just that you get you rack up a bunch of debt. But the fact is, this is the only debt really you can take out in your life that goes with you everywhere until you’re dead until you’re in your grave.

If you haven’t paid off that debt, it’s going with you everywhere. Okay? This isn’t like you, you take out a mortgage for your home, or you take out a car loan, like you can just give the keys away. And you know, that’s pretty much that it’s gonna ruin your credit.

But you can pretty much walk away from things like that, right? You don’t pay your credit card bill, you don’t pay your credit card bill, they can come after you for a certain amount of time. eventually it’s going to go away, right? But college debt.

It never goes away that stays with you forever. And that’s really your only way. If you’re thinking Oh, man, the only way I’m going to better my life is if I go to college. 2030 $40,000 It’s so unbelievably unrealistic to someone that’s broke, right.

To someone that’s broke that doesn’t even have you know, let’s say a $2,000 or $3,000 to your name. Also now they’re gonna have 2030 $40,000 No, it’s unrealistic. So then you’re stuck in this position where you’re taking out debt.

This is where the real money is made guys. self taught self taught self talk. Do you think Zuckerberg like like learned how to start Facebook and run Facebook from college? Absolutely not. The guy’s a college dropout.

He’s self taught him the all that code, okay? He worked out all those problems. Okay, he understood all these different things. And then guys, you know, super rich, you know, Jeff Bezos Do you think he learned in college.

How to Start and make Amazon? No, maybe you learned some fundamentals. But that’s the stuff he could have self taught himself in the end anyways. And now he runs the biggest company in the world, one of the biggest companies in the world.

He’s the richest man in the world, right? Self teaching is so vital guys. This is this is how you get to the next level. Okay? Not like YouTube, like 165,000 subscribers we have to seven years ago, I had no social media following. Oh, cool. to something years ago.

I had no social media following guys. And what did I do? I self taught myself about YouTube. I actually went out there I did it. I practice all that type of stuff. I watched tons of videos on how to grow on YouTube understanding YouTube, I self taught.

And then next thing, you know, couple years later, we got 165,000 subscribers, okay, 165,000 subscribers. That’s a massive amount of people a massive amount of people all because I went out there and self taught myself and then actually applied to things. Okay, stock market investing.

I built my accounts to $200,000 $200,000 before it was even aged 25. Okay. How would that have and I worked at a convenience store. Mind you, I worked at a convenience store. Why building that wealth? How would that have ever been possible.

Like how many people before age 25 even have $200,000. Like the percentage of people it’s like, way less than 1%. Okay, nevermind people that actually worked at a convenience store that didn’t get money given to them by their parents or something like that, like it’s a very small percentage.

And I got to that place and I’m very proud that I got to that place at such a young age while working at a convenience store. Oh, because I self taught myself about stocks. Okay, and how to own corporations and build port polios in make money moves, guys, this is where it’s at self teaching. Okay, people think it’s college.

I didn’t learn anything about stock market investing in college, I learned about balance sheets and income statements and cash flows and accounting class. But did I actually learn about you know, actually investing in stocks.

And why Apple stock can be a good investment or Google stock or any stock out there? No, they did. College helped me understand that Eli Eli is a stock one of my bigger positions right now that we’re up, you know, well over 30% on right now. Okay.

Well, over 30% in a pretty short amount of time. Did college teach me how to buy Eli stock the Calloway stock? No, he didn’t. That was self taught in through practice and execution and getting better and better and better and better.

This is how this is done, guys. So when you’re broke out there and you’re broken, you don’t have this kind of money. You can’t look at it as I’m a loser. And I’m going to be nothing. No, absolutely not. Your job is to take that little step, okay, you need to take that little step in your life.

And you got to understand that that little step you’re going to take is the biggest step you’re ever going to take in your life. Getting to start getting to start Is everything okay? Getting the start is everything.

And then you go and you build and you build and you build. That’s all my life. That’s all I’ve done. I started and you know, sometimes we drop off here and there. But what did I do, I grew and I grew and I grew and I grew accounts, and I grew my net worth and all those type of things, guys.

But it’s all because I decided one day I was like, I’m going to start this young. And I’m going to get this rolling. And we’re going to build and we’re going to build and we’re going to build and that’s how you got to view it. Okay, that’s how you got to view it.

And stay away from these consumer debts is a big difference between business debts, that’s going to help make you more money and consumer debts, which is going to take money from you that TV, that new car, this and that all those type of things, you’ve got to stay away from that.

Especially especially when you’re broke, don’t worry, when you get a ton of money, you can buy whatever you want, okay, and it’s gonna be like nothing to you, okay, a new car, a new 4050 $60,000 car, when you’ve already got a lot of money, it’s like nothing to you, okay.

It’s like, like buying a can of soda. But in the early days, 20 to $30,000 car, a new car that you want to buy or something like and you don’t have much money at that time, realize that that’s going to take away from you in a massive way. Okay.

That’s going to put you years behind the eight ball years behind the eight ball. Do you want to jump ahead of everybody? Do you want to jump behind everybody? Do you want to jump way ahead where you couldn’t be at.

Or do you want to be way behind in in always looking at the finish line, and it looks like it’s 10 miles away? Okay, you can either look at the finish line, it’s like it’s a mile away, and I’m almost where I want to be right? Or you can be looking at the finish line your whole life.

And it’s like, it’s 10 miles away, I’m never gonna be where I want to be in life. And that’s not a good feeling. Like Not only is it not fun, you know, to be at those levels. But it’s not a good feeling inside when you’re like.

I’m not I’m never getting anywhere I want to be. That’s not a fun thing, guys. Okay, last part I’ll leave with you is, make sure you set some goals. Okay? Make sure you set some goals. Now, some people are like, you need to look at these goals every day, and they’re gonna manifest and whatnot.

I’m not really a big believer in that. But I am a believer in setting goals. I do think setting goals can be good, okay, you’re broke out there, you need to set a goal. Let’s say you’ve got $100 right now, okay, saved away.

That’s all you have. That’s all you have to your name, you got 100 bucks to your name, you should set a goal for yourself, whatever feels comfortable for you. You know, at this time next year, my goal is to have $1,000 saved or $5,000 saved or $900 saved whatever goal is realistic for you and you want to set for yourself.

You go out and set and you don’t set it based upon someone else’s expectations you don’t but is you know, set up based upon my expectations, your mom’s expectations, you know, your sister’s expectations.

Anybody you said it based upon your expectations of goal that’s out there that’s, you know, realistic, that’s gonna be hard to achieve, but it’s still kind of realistic that you want to reach by this time next year.

That’s what you set and then you come back to it let me know in the comments section what your goal is to hit by this time next year, I would love to hear from you and then come back to this video and a year from now and see if you really hit that goal. Okay.

You’ve got to set goals and you got to set them you know, realistic where it’s actually possible to hit it, but at the same time, you’ve got to you know, put them out there a little bit don’t make it so easy on yourself. If you’ve got $100 you know net worth right now say you’re going to have $150 saved by this time next year.

That’s probably pretty easy, right? That’s probably too easy of a goal seven so it’s a little hard out there okay? But that is how you fundamentally change your life if you’re broke right now. You stay away from these consumer debts.

Okay, stay away from them. Realize college isn’t the only way self teaching is so vital guys self taught is where it is at. Okay, self talks where it’s set some goals, set some goals for yourself, make them hard to reach for, but don’t make them impossible and realize.

Do you want to be you know, the finish lines out there where you want to be in life? Do you want that to be 10 miles away? Do you want to be a mile Do you want them to be a heck of a lot closer? The little step you take now is going to fundamentally change things so you can take a massive step in the future. Okay.

I hope you guys really enjoyed this. Make sure you subscribe if you haven’t, follow me on Instagram. Thank you for watching. Have a great day.

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