August 7, 2024 • 25 mins
Money isn't everything, but in our modern world, it's as important as oxygen. Throughout my journey as an entrepreneur, I've been broke multiple times, including gone bankruptcy, and in this video, I'm sharing 6 hard truths being broke taught me. If you've struggled with money or cannot seem to get ahead, you need to watch this video.
[0:00] Introduction to Financial Hardships
[1:59] My Background: Life in Sweet Home, Oregon
[3:27] My Early Job Experiences and Financial Struggles
[5:29] #1 Being Broke is a Choice
[8:26] #2 You're Broke Because You Lack Skills
[10:33] #3 Ignorance in Finances
[12:59] #4 Lack of Discipline and Patience
[16:11] #5 Ideas as Entertainment
[20:29] #6 Broken Beliefs About Money
What to Expect:
Direct and honest discussions that might challenge your current perceptions.
Practical tips on overcoming financial hurdles and making empowered decisions.
If you find this episode valuable, please share it with someone who might benefit from these tough love lessons.
#FinancialFreedom #HardTruths #PersonalGrowth #MoneyMindset
Tune in to transform your approach to finances and start making strategic choices that align with long-term prosperity. Thank you for joining me, and don't forget to subscribe for more insights and real talk on navigating life’s financial challenges.
Let's connect:
https://anthonymink.com
https://www.instagram.com/anthonymink/
https://www.facebook.com/hostedbymink
https://www.tiktok.com/@anthony.mink
Mark as Played
Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
broke is a choice.
Now, I know what you might bethinking there's no fucking way
I choose to be broke, anthony,but the truth is your actions
and the decisions that you makeevery single day are choosing
for you.
Yeah, of course you're notchoosing to be broke, but the
choices that you make day in andday out, with how you spend
(00:21):
your time, how you invest yourmoney, what you buy, what you do
, how you show up every day thechoices that you make every day
are directly impacting yourfinancial situation.
I'm a man on a mission.
(00:43):
I don't need no permission.
I'm a man on a mission.
Welcome to, entitled to Nothing,where we believe our life is
our fault.
My name is Mink and I startedthis show for one reason I have
failed over and over in my lifeand and I found a way to turn
(01:04):
those failures into lessons, andI've used those lessons to
create life on my terms.
I've been able to createmultiple companies, travel all
around the world and build alife that I really love living,
and my goal at this show issimple I want to share
everything I've learned on myjourney to help inspire you on
yours.
I can tell you from experiencethat being broke it really
(01:27):
fucking sucks.
You know, they say money isn'teverything, but in our modern
world it's kind of like oxygenyou really can't live without it
, and I spent a lot of my life,especially growing up, really
struggling financially.
And so what I want to do is, inthis episode, I want to share
with you six hard truths that Ilearned from being broke, so
(01:50):
hopefully they will help you onyour money journey.
Before I dive into the sixth, Iwant to give you just a little
bit of backstory so you knowwhere I'm coming from here.
So I grew up in a really smalltown in Oregon called Sweet Home
If you're new, you might notknow that and it was very humble
beginnings.
My dad was a logger.
He dropped out of high schooland started cutting trees down
(02:12):
for a living.
In the Pacific Northwest.
The logging industry wasmassive, and when I was young
maybe like middle school aroundthat age he lost his job.
The logging industry wentthrough some regulation and he
never worked again, and my stayat home mom went out and tried
to find odds and ends and dothings like cleaning houses to
(02:33):
try to support the family,because unfortunately, my dad
just gave up at that point intime in his life, and so we
struggled.
Finances were always an issue.
My parents were always fightingabout it, and I remember my
senior year of high school.
I was filling out all of thescholarship information right,
because I was trying to get ascholarship and financial aid,
(02:54):
and so I had to look at myparents' tax returns to fill out
the documents.
And my parents, collectively,my senior year of high school,
made $12,000.
So that gives you a little bitof an idea.
That was to raise two son a sonand a daughter, you know and to
take care of a family of four.
So there was not a lot of moneyleft at the end of the month.
(03:17):
Let's just say it that way.
And then, growing up, on myjourney right, I experienced
that growing up and I was like Inever want to deal with this
financial pressure.
I'm going to figure this moneything out.
I worked a dozen different jobs,from McDonald's was my first
one to working on an orchardTarget, wells Fargo.
I sold real estate.
I went door to door doing homesecurity sales.
(03:38):
I got into the mortgageindustry.
I thought I was going to be aprofessional poker player at one
point in time, until I wentbroke and lost all my money.
So I have done so many differentthings on my pursuit to try to
figure out how to make money andultimately I realized very
early On that I hated workingfor other people.
So I need to do my own thing.
And so I tried differentnetwork marketing companies and
(04:00):
then I started a company andlost everything.
And then I started anothercompany on credit and lost all
of that and went bankrupt.
I've had six figures in debt ontwo separate occasions and
definitely rode the wave offinancial stress and pressure.
I had negative bank accountbalances when rent was due and I
(04:23):
didn't know how I was going topay it.
I got a repossession letter onmy car.
So, without belaboring thepoint, I've been broke.
I've struggled financiallymultiple times.
I made a lot of money and thenI lost it all and had to start
over.
And so, going through this cycleand riding this wave of ups and
downs financially and ridingthis wave of ups and downs
(04:43):
financially, in reflection Ilearned there's definitely
things that we do or don't dothat cause us to feel the
financial pressure or stress.
And I'm going to warn you nowthese are very direct and to the
point and they might piss youoff, and if they do, that's good
.
You should use that energy andyou should get upset, because
(05:04):
anger, as an emotional fuel, canbe very, very productive and if
you direct that upset, thatintensity, that anger, in the
right direction, it can fuel youto start to fix this problem,
because it is a very solvableproblem.
So, with that said, let's divein.
Okay, number one being broke isa choice.
(05:29):
Now I know what you might bethinking there's no fucking way
I choose to be broke, anthony,but the truth is your actions
and the decisions that you makeevery single day are choosing
for you.
Yeah, of course you're notchoosing to be broke, but the
choices that you make day in andday out, with how you spend
your time, how you invest yourmoney, what you buy, what you do
(05:52):
, how you show up every day, thechoices that you make every day
, are directly impacting yourfinancial situation.
If we can agree, like I said,that money isn't everything, but
it's kind of like oxygen in themodern world, then it is
critical for our survival.
And if you don't have a veryspecific financial plan and
(06:13):
budget and strategy and you'rejust winging it, then you're
choosing to have financialstruggle.
And so, while I don't want totell you this if you have
financial difficulty, part ofthe problem is the choices that
you're making, and because Ibelieve in radical
responsibility and the premiseof this show is your life is
(06:37):
your fault we have to look inthe mirror when things aren't
going the way that we want andadmit that we have
responsibility in that.
And so the first, mostimportant lesson I've learned is
when I was broke, it wasbecause I was choosing to be, by
choosing actions and behaviorsand decisions that were not in
(06:58):
support of my financial future,and by realizing this and saying
okay, the decisions that I maketoday are going to impact my
financial future tomorrow.
Why don't I get smarter abouthow I'm spending my time?
Why don't I get smarter aboutwhere I'm investing my attention
?
Right, and so, to make thisreally simple, as a as an
(07:22):
example, right, how many hours aday or a week do you spend just
aimlessly watching televisionNetflix, hulu or whatever other
fucking streaming platformsthere are?
Right, they say that theaverage American watches like
two and a half to three hours ofTV a night.
Okay, that is a choice thatyou're making, and you're
(07:46):
choosing to do that instead ofchoosing to do something that
could in some way benefit yourfinancial future.
And I'm not saying you need togive up everything and you have
to sacrifice everything and youneed to be rigid.
Right, we're here to manage ourlife and enjoy it to some
degree.
But if you're broke and you'respending all your fucking time
(08:10):
fucking around, then you deserveto be fucking broke.
And I don't mean thatdisrespectfully.
I say that to challenge you, topiss you off a little bit so
that you get into action,because, at the end of the day,
no one can do your pushups foryou.
One of the reasons why peoplethat are in great physical shape
(08:30):
have so much respect and alsohate from people is because if
you see someone that's inphenomenal physical shape, there
is no way that they can buythat.
It says two things about them.
One, they work their ass offand they put in the work.
And two, they have incredibleresilience, discipline and
consistency the work.
(08:53):
And two, they have incredibleresilience, discipline and
consistency.
And so we admire or we hate onthat person because they have
something that we do not Ifwe're not in that level of
physical shape.
They have a level ofconsistency and focus and
discipline that we don't andthat's given them a different
result.
The same is true here, right,there's countless stories of
(09:13):
people that never made more thanminimum wage or a base salary
at an entry-level position.
There's a story of a guy whoworked for USPS.
He made the salary of adelivery driver and he invested.
He saved 10% of everything hemade, lived very under his means
(09:36):
, saved the difference, investedthat into a retirement account
and retired with millions andmillions of dollars.
So I'll end with this beingbroke is a choice, because
you're choosing what to do withyour time, energy and resources,
and also winning the game offinances is a long-term game,
(09:58):
which we're going to talk aboutin future lessons.
All right.
Number two you're broke becauseyou don't have any skills.
Okay, in the world that we livein, I believe that we are all
equal as souls right, god put ushere to be equal as human
beings on this planet.
But we're not equal in themarketplace and I would suggest
(10:22):
that you're earning exactly whatyour skills are worth, and if
you're not getting paid whatyour skills are worth, then you
should go find someone who iswilling to pay you what they are
worth.
But the truth is in themarketplace of our life, in the
business environment and how weearn money.
(10:42):
We are compensated based on ourskills and the level of
problems that we can solve andthe level of value that we can
create for a company.
And so your salary is what itis, your compensation is what it
is, because that's what you'revalued in the marketplace, and I
can tell you guys, one of thethings that pisses me off beyond
(11:03):
belief is this idea of like weneed to keep raising minimum
wage.
We need to keep raising it,right?
It's like a McDonald's workershould make $15 an hour.
Well, motherfucker, I worked atMcDonald's when I was 16 years
old and that was a starter jobfor me to get into the
marketplace and to learn and togrow.
And those jobs, to some degree,are meant to be foundation
(11:27):
builders, and individuals aremeant to learn and grow through
those entry-level jobs andcontinue to learn and grow and
evolve.
And so your responsibility as anadult, as someone who wants to
create financial prosperity, isto develop your skills, is to
(11:54):
develop your skills.
You are paid in directproportion to the skills that
you have in the marketplace, andif you want to raise your value
, then you have to elevate yourskill.
And so, again, I'll say it verysimply, if you're not getting
paid what your skills are worth,then you're at the wrong job.
But if you don't have theskills that are going to be
compensated at a higher level,you have to take responsibility
(12:17):
and gain those skills, and thatis a process and that is very,
very applicable.
You just have to understandwhat skills you need.
And this is like colleges.
The whole point of colleges isthis right, it's like you want
to become a lawyer, go to lawschool.
We'll give you the knowledge,we'll give you the foundation,
and then you go into the worldand you start out as you know,
(12:38):
an associate and you go throughthe ranks and you learn and you
grow, and then you're a seniorone and then you're a lawyer,
and then you, you know, you goup through the whole, the whole
thing.
You climb the ladder.
That happens because they'regaining skills over time.
So if you're broke right now,understand that you're getting
paid what you're worth in themarketplace, and if you wanna
make more, you just have to goget better.
(12:59):
Number three ignorance disguisedas optimism is dangerous.
All right, and maybe it shouldbe summarized like this you make
bad decisions because you justdon't know any better.
Right, and some of this comesdown to knowledge and experience
, and the game of finances is agame and there is a way to win
(13:22):
or lose, and if you don't knowthe rules of the game, then it's
going to be very difficult foryou to win.
Right, if you and I are playingfootball and I know that
football is made up ofquarterbacks and safeties and
receivers and tight ends andlinebackers, and we score
touchdowns and extra points andyou can get a safety, and I know
(13:45):
all the rules of the game andyou're like, bro, I don't know
anything that you just said.
That doesn't make any sense tome.
What's a fucking quarterback?
What's a safety?
A touchdown is worth how manypoints?
If you don't know the rules ofthe game and I do I'm going to
win and you're going to lose.
Unfortunately, we live in afinancial system that most
(14:08):
people are illiterate to andthey don't understand the rules
of the game, and by simplyunderstanding the rules of the
game and how finance works,you're going to be miles ahead
because you understand how toplay the game.
And so this idea of beingignorant but optimistic that
(14:30):
things are going to work out isdangerous.
You don't like optimistic,ignorant ignorance.
It's just a really it's just arecipe for disaster.
I think of it as the dumb taxright.
When you're dumb, you pay a tax, and so if you are struggling
financially, you need to committo learning how the financial
(14:52):
system works, and there'sincredible books out there about
investing and saving, and DaveRamsey has built a freaking,
unbelievable empire on savingand getting out of debt and
being financially responsible.
So there's people out therethat can teach you these things,
but you have to seek them out.
And again, like imagine this.
Imagine I say being broke is achoice, right?
(15:14):
Imagine you replace that threehours of Netflix every day with
three hours of studyingfinancial literacy, and then
that teaches you how to get yourhouse in order.
And then you go out and youimprove your skills while you're
learning financial literacy,and now you get a promotion.
And then you get anotherpromotion.
And now you go out and youimprove your skills while you're
learning financial literacy,and now you get a promotion.
And then you get anotherpromotion.
And now you're making moremoney while also having a system
(15:35):
to save and invest, and you'rereducing your expenses and
understanding like credit cardinterest and how to pay that off
and make the difference up andthen invest.
Just these three decisionsalone, these three things, will
radically transform your life.
So I hope you're starting tosee how I'm not being an asshole
(15:55):
by telling you it's your faultand you don't have any skills.
I'm trying to inspire you thatthis game is winnable if you
understand some of these brutaltruths and then you take action
to affect them.
Number four you're broke becauseyou don't have any discipline
(16:15):
or patience.
Most of us have an overwhelmingneed for instant gratification.
The world social media apps,uber, freaking dating profiles
the world is convincing us thatwe need everything as easy and
as quick as possible, and thatmeans that we're likely not
(16:35):
going to make the disciplined,long-term decision to not go on
that vacation, to not buy thatnew thing, to not go out on that
fancy dinner, but to save or toinvest, or to be disciplined,
or to budget and allocate andsay this is my monthly budget
for entertainment and I'm notgoing to spend a dollar more
(16:56):
than this.
I'm going to have thediscipline to do it, and then
I'm going to have the patienceto wait for that one, that new
car that I want or that newwatch or whatever it is right.
The financial decisions that wemake, I believe, are driven by
two things our discipline orlack of it, and our patience or
lack of it.
(17:17):
And oftentimes the main culpritis this instant gratification
that we seek.
That throws the discipline outthe window and the patience out
the window.
But if you can get disciplineand patience into your financial
life and again you can getsmarter and financially literate
and apply a system and a budget, and then you can get your
skills improved and start makingmore money, man, your world
(17:40):
changes and again money isn'teverything, but damn it.
It's like oxygen in the modernworld and you deserve to have
the opportunity and theresources to live the life that
you want.
Growing up broke, everything wasa fucking struggle, god.
I used to feel so guilty justwanting to go order off the
(18:01):
dollar menu at McDonald's noexaggeration.
I've had so much financialstress and pressure in my life
and negative bank accountbalances and the fear of not
knowing how I was going tofucking eat that.
Now the relief, the ease, thegratitude that I feel, knowing
(18:25):
that I never, ever have to worryabout that again.
You fucking walk different andall of us deserve to have that
in our own way, right, we allhave our own thermostat for what
we want and what we need andhow we want to live our life.
So I'm not saying you need tobe fucking crazy successful and
all this money, but what I amsaying is you deserve to have
(18:47):
the financial stability that youwant and it's possible for you,
but you have to understandthese truths and take
responsibility for them.
So you need some discipline andsome patience.
Number five ideas unexecuted areentertainment.
A lot of us have this mentalmasturbation about all the
(19:10):
things that we're going to doand I'm to create this and I'm
going to do that and I'm goingto try this or I'm going to go
after that, and it's a fantasyand it keeps us from attacking
the things that we want.
And this rule is really for myentrepreneurs out there, my
wannabe founders and businessowners the ideas that you have
(19:34):
about what you want to do withyour life and what you want to
create are entertainment if youdon't go do something about them
.
And I think the worst thingthat we can do whether you're an
entrepreneur or you're anintrapreneur or you're an
employee or wherever you're atthe very worst thing we can do
is have the mental masturbationof ideas and live in this false
(19:57):
reality of one day I'm going todo this and I'm going to do that
.
I'm going to, I'm going tocreate this and it's going to be
fucking great.
It's a fantasy.
You got to get off your ass andgo make those things happen,
and this is typically never moreprevalent than in the business
world and in the financial world.
Don't leave things up to chance.
(20:18):
Make a fucking plan, have yourideas and then go take action on
them so that you can create thestability that you deserve.
Okay, this sixth brutal truth isthis.
Okay, this sixth brutal truthis this You're broke because
your beliefs are broken.
I believe that our net worth inlife, our financial earning
(20:43):
capacity, is often directlyproportionate to our self-worth
and how much we believe wedeserve.
And again, I'm telling you thatfrom experience, because so
often I didn't believe I wasworth any more.
We deserve.
And again, I'm telling you thatfrom experience, because so
often I didn't believe I wasworth any more than I was
earning and I didn't believe Iwas capable of creating any more
(21:05):
than I was creating.
And so I didn't.
And it wasn't until I realizedthat I was the governor on my
potential, that my beliefcreates my potential.
The potential that I believe Ihave leads to the actions that I
take, the execution I have andthe level of action and
execution, well, that's going tolead to my results.
(21:26):
And then this crazy thinghappens we get results or we
don't get them, one way oranother, and then that
reinforces the belief that wehave about what's possible.
And so our belief is thecatalyst or the anchor.
It holds us back or it ignitesus forward and ultimately,
(21:51):
building belief when you don'thave any results, when there's
nothing in your world that wouldtell you what you're striving
or seeking for is possible foryou, god, it's one of the most
important and one of the mostdifficult things I've ever done,
and there's this idea that youshould just fake it till you
make it.
I think that's the worstfucking advice anybody could
(22:13):
give you.
I think you need to faith ituntil you make it, and that
might mean, in a religious sense, to you that you put your faith
in a higher power, or it mightmean that you have faith in
yourself.
I think both things are equallyimportant, and if you have both
, if you have faith in yourhigher power and faith in
yourself simultaneously, thenyou can create the stability and
(22:37):
the financial opportunity thatyou want for yourself, but you
have to have the belief.
The belief comes first.
I had to believe that I couldbuild a successful company
before I could, and then I hadto believe that that company
could make me a million dollarsbefore it did.
And then I had to believe thatit could be an eight figure
(22:58):
company before it became one.
And now I'm believing thisfucking thing is going to become
a nine figure company before itis.
And I know I will get there,not because I'm some great,
smart, talented dude, butbecause of these six brutal
truths and how I apply them tomy life and how I get fucking
better and I make better choicesand I have the discipline and I
(23:22):
do what it takes and I studyand I learn and I do this over
and over and over again.
This is not only a formula forsuccess financially, but it's a
formula for life, and that's whyI wanted to share it with you
guys today, because, more thananything, I want you to be able
to live life on your terms, andI know that many of you are
(23:43):
struggling financially, now morethan ever, with the fuckery of
inflation and the cost of livingand all the bullshit I know.
I know, now more than ever,that finances are really
difficult for a lot of people,so I hope some of these pissed
you off, I hope they inspiredyou and I hope, if you've made
it all the way through thisepisode, that you understand
(24:05):
where I'm coming from and youcan connect the dots from one to
six and see how, if you putthese into action in your life,
they can start to help you makea difference.
Last thing I'll say is thisright All of the success in any
era of our life is going to comedown to three things the skills
that we have, the charactertraits that we possess and the
(24:29):
beliefs that we have aboutwhat's possible for us.
And so go out there and chooseto make better decisions, to do
what's necessary and to createthe financial prosperity that
you really do deserve.
But you're only going to get itif you earn it, and that's my
prayer for you.
I appreciate you guys hangingout with me today listening to
(24:50):
this podcast.
Please, please, let me knowwhat you think of it.
Shoot me a DM, leave me acomment below, tell me if you
think I'm a fucking asshole, ortell me if you agree.
I want to know what yourperspective is on this topic and
, if you like it, we can godeeper.
And also, the only ask I wouldhave from you is if there's
someone that you think needs tohear this message if they need a
(25:10):
nice wake up call, they need alittle encouragement share it
with them.
That would be my only ask.
I appreciate you guys.
Thank you for tuning in.
I'll talk to you soon.
broke is a choice.
Now, I know what you might bethinking there's no fucking way
I choose to be broke, anthony,but the truth is your actions
and the decisions that you makeevery single day are choosing
for you.
Yeah, of course you're notchoosing to be broke, but the
choices that you make day in andday out, with how you spend
(00:21):
your time, how you invest yourmoney, what you buy, what you do
, how you show up every day thechoices that you make every day
are directly impacting yourfinancial situation.
I'm a man on a mission.
(00:43):
I don't need no permission.
I'm a man on a mission.
Welcome to, entitled to Nothing,where we believe our life is
our fault.
My name is Mink and I startedthis show for one reason I have
failed over and over in my lifeand and I found a way to turn
(01:04):
those failures into lessons, andI've used those lessons to
create life on my terms.
I've been able to createmultiple companies, travel all
around the world and build alife that I really love living,
and my goal at this show issimple I want to share
everything I've learned on myjourney to help inspire you on
yours.
I can tell you from experiencethat being broke it really
(01:27):
fucking sucks.
You know, they say money isn'teverything, but in our modern
world it's kind of like oxygenyou really can't live without it
, and I spent a lot of my life,especially growing up, really
struggling financially.
And so what I want to do is, inthis episode, I want to share
with you six hard truths that Ilearned from being broke, so
(01:50):
hopefully they will help you onyour money journey.
Before I dive into the sixth, Iwant to give you just a little
bit of backstory so you knowwhere I'm coming from here.
So I grew up in a really smalltown in Oregon called Sweet Home
If you're new, you might notknow that and it was very humble
beginnings.
My dad was a logger.
He dropped out of high schooland started cutting trees down
(02:12):
for a living.
In the Pacific Northwest.
The logging industry wasmassive, and when I was young
maybe like middle school aroundthat age he lost his job.
The logging industry wentthrough some regulation and he
never worked again, and my stayat home mom went out and tried
to find odds and ends and dothings like cleaning houses to
(02:33):
try to support the family,because unfortunately, my dad
just gave up at that point intime in his life, and so we
struggled.
Finances were always an issue.
My parents were always fightingabout it, and I remember my
senior year of high school.
I was filling out all of thescholarship information right,
because I was trying to get ascholarship and financial aid,
(02:54):
and so I had to look at myparents' tax returns to fill out
the documents.
And my parents, collectively,my senior year of high school,
made $12,000.
So that gives you a little bitof an idea.
That was to raise two son a sonand a daughter, you know and to
take care of a family of four.
So there was not a lot of moneyleft at the end of the month.
(03:17):
Let's just say it that way.
And then, growing up, on myjourney right, I experienced
that growing up and I was like Inever want to deal with this
financial pressure.
I'm going to figure this moneything out.
I worked a dozen different jobs,from McDonald's was my first
one to working on an orchardTarget, wells Fargo.
I sold real estate.
I went door to door doing homesecurity sales.
(03:38):
I got into the mortgageindustry.
I thought I was going to be aprofessional poker player at one
point in time, until I wentbroke and lost all my money.
So I have done so many differentthings on my pursuit to try to
figure out how to make money andultimately I realized very
early On that I hated workingfor other people.
So I need to do my own thing.
And so I tried differentnetwork marketing companies and
(04:00):
then I started a company andlost everything.
And then I started anothercompany on credit and lost all
of that and went bankrupt.
I've had six figures in debt ontwo separate occasions and
definitely rode the wave offinancial stress and pressure.
I had negative bank accountbalances when rent was due and I
(04:23):
didn't know how I was going topay it.
I got a repossession letter onmy car.
So, without belaboring thepoint, I've been broke.
I've struggled financiallymultiple times.
I made a lot of money and thenI lost it all and had to start
over.
And so, going through this cycleand riding this wave of ups and
downs financially and ridingthis wave of ups and downs
(04:43):
financially, in reflection Ilearned there's definitely
things that we do or don't dothat cause us to feel the
financial pressure or stress.
And I'm going to warn you nowthese are very direct and to the
point and they might piss youoff, and if they do, that's good
.
You should use that energy andyou should get upset, because
(05:04):
anger, as an emotional fuel, canbe very, very productive and if
you direct that upset, thatintensity, that anger, in the
right direction, it can fuel youto start to fix this problem,
because it is a very solvableproblem.
So, with that said, let's divein.
Okay, number one being broke isa choice.
(05:29):
Now I know what you might bethinking there's no fucking way
I choose to be broke, anthony,but the truth is your actions
and the decisions that you makeevery single day are choosing
for you.
Yeah, of course you're notchoosing to be broke, but the
choices that you make day in andday out, with how you spend
your time, how you invest yourmoney, what you buy, what you do
(05:52):
, how you show up every day, thechoices that you make every day
, are directly impacting yourfinancial situation.
If we can agree, like I said,that money isn't everything, but
it's kind of like oxygen in themodern world, then it is
critical for our survival.
And if you don't have a veryspecific financial plan and
(06:13):
budget and strategy and you'rejust winging it, then you're
choosing to have financialstruggle.
And so, while I don't want totell you this if you have
financial difficulty, part ofthe problem is the choices that
you're making, and because Ibelieve in radical
responsibility and the premiseof this show is your life is
(06:37):
your fault we have to look inthe mirror when things aren't
going the way that we want andadmit that we have
responsibility in that.
And so the first, mostimportant lesson I've learned is
when I was broke, it wasbecause I was choosing to be, by
choosing actions and behaviorsand decisions that were not in
(06:58):
support of my financial future,and by realizing this and saying
okay, the decisions that I maketoday are going to impact my
financial future tomorrow.
Why don't I get smarter abouthow I'm spending my time?
Why don't I get smarter aboutwhere I'm investing my attention
?
Right, and so, to make thisreally simple, as a as an
(07:22):
example, right, how many hours aday or a week do you spend just
aimlessly watching televisionNetflix, hulu or whatever other
fucking streaming platformsthere are?
Right, they say that theaverage American watches like
two and a half to three hours ofTV a night.
Okay, that is a choice thatyou're making, and you're
(07:46):
choosing to do that instead ofchoosing to do something that
could in some way benefit yourfinancial future.
And I'm not saying you need togive up everything and you have
to sacrifice everything and youneed to be rigid.
Right, we're here to manage ourlife and enjoy it to some
degree.
But if you're broke and you'respending all your fucking time
(08:10):
fucking around, then you deserveto be fucking broke.
And I don't mean thatdisrespectfully.
I say that to challenge you, topiss you off a little bit so
that you get into action,because, at the end of the day,
no one can do your pushups foryou.
One of the reasons why peoplethat are in great physical shape
(08:30):
have so much respect and alsohate from people is because if
you see someone that's inphenomenal physical shape, there
is no way that they can buythat.
It says two things about them.
One, they work their ass offand they put in the work.
And two, they have incredibleresilience, discipline and
consistency the work.
(08:53):
And two, they have incredibleresilience, discipline and
consistency.
And so we admire or we hate onthat person because they have
something that we do not Ifwe're not in that level of
physical shape.
They have a level ofconsistency and focus and
discipline that we don't andthat's given them a different
result.
The same is true here, right,there's countless stories of
(09:13):
people that never made more thanminimum wage or a base salary
at an entry-level position.
There's a story of a guy whoworked for USPS.
He made the salary of adelivery driver and he invested.
He saved 10% of everything hemade, lived very under his means
(09:36):
, saved the difference, investedthat into a retirement account
and retired with millions andmillions of dollars.
So I'll end with this beingbroke is a choice, because
you're choosing what to do withyour time, energy and resources,
and also winning the game offinances is a long-term game,
(09:58):
which we're going to talk aboutin future lessons.
All right.
Number two you're broke becauseyou don't have any skills.
Okay, in the world that we livein, I believe that we are all
equal as souls right, god put ushere to be equal as human
beings on this planet.
But we're not equal in themarketplace and I would suggest
(10:22):
that you're earning exactly whatyour skills are worth, and if
you're not getting paid whatyour skills are worth, then you
should go find someone who iswilling to pay you what they are
worth.
But the truth is in themarketplace of our life, in the
business environment and how weearn money.
(10:42):
We are compensated based on ourskills and the level of
problems that we can solve andthe level of value that we can
create for a company.
And so your salary is what itis, your compensation is what it
is, because that's what you'revalued in the marketplace, and I
can tell you guys, one of thethings that pisses me off beyond
(11:03):
belief is this idea of like weneed to keep raising minimum
wage.
We need to keep raising it,right?
It's like a McDonald's workershould make $15 an hour.
Well, motherfucker, I worked atMcDonald's when I was 16 years
old and that was a starter jobfor me to get into the
marketplace and to learn and togrow.
And those jobs, to some degree,are meant to be foundation
(11:27):
builders, and individuals aremeant to learn and grow through
those entry-level jobs andcontinue to learn and grow and
evolve.
And so your responsibility as anadult, as someone who wants to
create financial prosperity, isto develop your skills, is to
(11:54):
develop your skills.
You are paid in directproportion to the skills that
you have in the marketplace, andif you want to raise your value
, then you have to elevate yourskill.
And so, again, I'll say it verysimply, if you're not getting
paid what your skills are worth,then you're at the wrong job.
But if you don't have theskills that are going to be
compensated at a higher level,you have to take responsibility
(12:17):
and gain those skills, and thatis a process and that is very,
very applicable.
You just have to understandwhat skills you need.
And this is like colleges.
The whole point of colleges isthis right, it's like you want
to become a lawyer, go to lawschool.
We'll give you the knowledge,we'll give you the foundation,
and then you go into the worldand you start out as you know,
(12:38):
an associate and you go throughthe ranks and you learn and you
grow, and then you're a seniorone and then you're a lawyer,
and then you, you know, you goup through the whole, the whole
thing.
You climb the ladder.
That happens because they'regaining skills over time.
So if you're broke right now,understand that you're getting
paid what you're worth in themarketplace, and if you wanna
make more, you just have to goget better.
(12:59):
Number three ignorance disguisedas optimism is dangerous.
All right, and maybe it shouldbe summarized like this you make
bad decisions because you justdon't know any better.
Right, and some of this comesdown to knowledge and experience
, and the game of finances is agame and there is a way to win
(13:22):
or lose, and if you don't knowthe rules of the game, then it's
going to be very difficult foryou to win.
Right, if you and I are playingfootball and I know that
football is made up ofquarterbacks and safeties and
receivers and tight ends andlinebackers, and we score
touchdowns and extra points andyou can get a safety, and I know
(13:45):
all the rules of the game andyou're like, bro, I don't know
anything that you just said.
That doesn't make any sense tome.
What's a fucking quarterback?
What's a safety?
A touchdown is worth how manypoints?
If you don't know the rules ofthe game and I do I'm going to
win and you're going to lose.
Unfortunately, we live in afinancial system that most
(14:08):
people are illiterate to andthey don't understand the rules
of the game, and by simplyunderstanding the rules of the
game and how finance works,you're going to be miles ahead
because you understand how toplay the game.
And so this idea of beingignorant but optimistic that
(14:30):
things are going to work out isdangerous.
You don't like optimistic,ignorant ignorance.
It's just a really it's just arecipe for disaster.
I think of it as the dumb taxright.
When you're dumb, you pay a tax, and so if you are struggling
financially, you need to committo learning how the financial
(14:52):
system works, and there'sincredible books out there about
investing and saving, and DaveRamsey has built a freaking,
unbelievable empire on savingand getting out of debt and
being financially responsible.
So there's people out therethat can teach you these things,
but you have to seek them out.
And again, like imagine this.
Imagine I say being broke is achoice, right?
(15:14):
Imagine you replace that threehours of Netflix every day with
three hours of studyingfinancial literacy, and then
that teaches you how to get yourhouse in order.
And then you go out and youimprove your skills while you're
learning financial literacy,and now you get a promotion.
And then you get anotherpromotion.
And now you go out and youimprove your skills while you're
learning financial literacy,and now you get a promotion.
And then you get anotherpromotion.
And now you're making moremoney while also having a system
(15:35):
to save and invest, and you'rereducing your expenses and
understanding like credit cardinterest and how to pay that off
and make the difference up andthen invest.
Just these three decisionsalone, these three things, will
radically transform your life.
So I hope you're starting tosee how I'm not being an asshole
(15:55):
by telling you it's your faultand you don't have any skills.
I'm trying to inspire you thatthis game is winnable if you
understand some of these brutaltruths and then you take action
to affect them.
Number four you're broke becauseyou don't have any discipline
(16:15):
or patience.
Most of us have an overwhelmingneed for instant gratification.
The world social media apps,uber, freaking dating profiles
the world is convincing us thatwe need everything as easy and
as quick as possible, and thatmeans that we're likely not
(16:35):
going to make the disciplined,long-term decision to not go on
that vacation, to not buy thatnew thing, to not go out on that
fancy dinner, but to save or toinvest, or to be disciplined,
or to budget and allocate andsay this is my monthly budget
for entertainment and I'm notgoing to spend a dollar more
(16:56):
than this.
I'm going to have thediscipline to do it, and then
I'm going to have the patienceto wait for that one, that new
car that I want or that newwatch or whatever it is right.
The financial decisions that wemake, I believe, are driven by
two things our discipline orlack of it, and our patience or
lack of it.
(17:17):
And oftentimes the main culpritis this instant gratification
that we seek.
That throws the discipline outthe window and the patience out
the window.
But if you can get disciplineand patience into your financial
life and again you can getsmarter and financially literate
and apply a system and a budget, and then you can get your
skills improved and start makingmore money, man, your world
(17:40):
changes and again money isn'teverything, but damn it.
It's like oxygen in the modernworld and you deserve to have
the opportunity and theresources to live the life that
you want.
Growing up broke, everything wasa fucking struggle, god.
I used to feel so guilty justwanting to go order off the
(18:01):
dollar menu at McDonald's noexaggeration.
I've had so much financialstress and pressure in my life
and negative bank accountbalances and the fear of not
knowing how I was going tofucking eat that.
Now the relief, the ease, thegratitude that I feel, knowing
(18:25):
that I never, ever have to worryabout that again.
You fucking walk different andall of us deserve to have that
in our own way, right, we allhave our own thermostat for what
we want and what we need andhow we want to live our life.
So I'm not saying you need tobe fucking crazy successful and
all this money, but what I amsaying is you deserve to have
(18:47):
the financial stability that youwant and it's possible for you,
but you have to understandthese truths and take
responsibility for them.
So you need some discipline andsome patience.
Number five ideas unexecuted areentertainment.
A lot of us have this mentalmasturbation about all the
(19:10):
things that we're going to doand I'm to create this and I'm
going to do that and I'm goingto try this or I'm going to go
after that, and it's a fantasyand it keeps us from attacking
the things that we want.
And this rule is really for myentrepreneurs out there, my
wannabe founders and businessowners the ideas that you have
(19:34):
about what you want to do withyour life and what you want to
create are entertainment if youdon't go do something about them
.
And I think the worst thingthat we can do whether you're an
entrepreneur or you're anintrapreneur or you're an
employee or wherever you're atthe very worst thing we can do
is have the mental masturbationof ideas and live in this false
(19:57):
reality of one day I'm going todo this and I'm going to do that
.
I'm going to, I'm going tocreate this and it's going to be
fucking great.
It's a fantasy.
You got to get off your ass andgo make those things happen,
and this is typically never moreprevalent than in the business
world and in the financial world.
Don't leave things up to chance.
(20:18):
Make a fucking plan, have yourideas and then go take action on
them so that you can create thestability that you deserve.
Okay, this sixth brutal truth isthis.
Okay, this sixth brutal truthis this You're broke because
your beliefs are broken.
I believe that our net worth inlife, our financial earning
(20:43):
capacity, is often directlyproportionate to our self-worth
and how much we believe wedeserve.
And again, I'm telling you thatfrom experience, because so
often I didn't believe I wasworth any more.
We deserve.
And again, I'm telling you thatfrom experience, because so
often I didn't believe I wasworth any more than I was
earning and I didn't believe Iwas capable of creating any more
(21:05):
than I was creating.
And so I didn't.
And it wasn't until I realizedthat I was the governor on my
potential, that my beliefcreates my potential.
The potential that I believe Ihave leads to the actions that I
take, the execution I have andthe level of action and
execution, well, that's going tolead to my results.
(21:26):
And then this crazy thinghappens we get results or we
don't get them, one way oranother, and then that
reinforces the belief that wehave about what's possible.
And so our belief is thecatalyst or the anchor.
It holds us back or it ignitesus forward and ultimately,
(21:51):
building belief when you don'thave any results, when there's
nothing in your world that wouldtell you what you're striving
or seeking for is possible foryou, god, it's one of the most
important and one of the mostdifficult things I've ever done,
and there's this idea that youshould just fake it till you
make it.
I think that's the worstfucking advice anybody could
(22:13):
give you.
I think you need to faith ituntil you make it, and that
might mean, in a religious sense, to you that you put your faith
in a higher power, or it mightmean that you have faith in
yourself.
I think both things are equallyimportant, and if you have both
, if you have faith in yourhigher power and faith in
yourself simultaneously, thenyou can create the stability and
(22:37):
the financial opportunity thatyou want for yourself, but you
have to have the belief.
The belief comes first.
I had to believe that I couldbuild a successful company
before I could, and then I hadto believe that that company
could make me a million dollarsbefore it did.
And then I had to believe thatit could be an eight figure
(22:58):
company before it became one.
And now I'm believing thisfucking thing is going to become
a nine figure company before itis.
And I know I will get there,not because I'm some great,
smart, talented dude, butbecause of these six brutal
truths and how I apply them tomy life and how I get fucking
better and I make better choicesand I have the discipline and I
(23:22):
do what it takes and I studyand I learn and I do this over
and over and over again.
This is not only a formula forsuccess financially, but it's a
formula for life, and that's whyI wanted to share it with you
guys today, because, more thananything, I want you to be able
to live life on your terms, andI know that many of you are
(23:43):
struggling financially, now morethan ever, with the fuckery of
inflation and the cost of livingand all the bullshit I know.
I know, now more than ever,that finances are really
difficult for a lot of people,so I hope some of these pissed
you off, I hope they inspiredyou and I hope, if you've made
it all the way through thisepisode, that you understand
(24:05):
where I'm coming from and youcan connect the dots from one to
six and see how, if you putthese into action in your life,
they can start to help you makea difference.
Last thing I'll say is thisright All of the success in any
era of our life is going to comedown to three things the skills
that we have, the charactertraits that we possess and the
(24:29):
beliefs that we have aboutwhat's possible for us.
And so go out there and chooseto make better decisions, to do
what's necessary and to createthe financial prosperity that
you really do deserve.
But you're only going to get itif you earn it, and that's my
prayer for you.
I appreciate you guys hangingout with me today listening to
(24:50):
this podcast.
Please, please, let me knowwhat you think of it.
Shoot me a DM, leave me acomment below, tell me if you
think I'm a fucking asshole, ortell me if you agree.
I want to know what yourperspective is on this topic and
, if you like it, we can godeeper.
And also, the only ask I wouldhave from you is if there's
someone that you think needs tohear this message if they need a
(25:10):
nice wake up call, they need alittle encouragement share it
with them.
That would be my only ask.
I appreciate you guys.
Thank you for tuning in.
I'll talk to you soon.
Popular Podcasts
Crime Junkie
Does hearing about a true crime case always leave you scouring the internet for the truth behind the story? Dive into your next mystery with Crime Junkie. Every Monday, join your host Ashley Flowers as she unravels all the details of infamous and underreported true crime cases with her best friend Brit Prawat. From cold cases to missing persons and heroes in our community who seek justice, Crime Junkie is your destination for theories and stories you won’t hear anywhere else. Whether you're a seasoned true crime enthusiast or new to the genre, you'll find yourself on the edge of your seat awaiting a new episode every Monday. If you can never get enough true crime... Congratulations, you’ve found your people. Follow to join a community of Crime Junkies! Crime Junkie is presented by audiochuck Media Company.
24/7 News: The Latest
The latest news in 4 minutes updated every hour, every day.
Stuff You Should Know
If you've ever wanted to know about champagne, satanism, the Stonewall Uprising, chaos theory, LSD, El Nino, true crime and Rosa Parks, then look no further. Josh and Chuck have you covered.