Grant Cardone's 10 Rules to get your Money Right

okay so this is how you get your money fixed number one never spend it until you get it okay so like like if you're in a sales department this means all this translates to every department by the way this is exactly how I run every department how we cashflow companies how we make decisions on when to spend money in advertising I don't I don't count a deal closed I don't count money in until the money's in right so until you could sign the deal and these guys are gonna split us we time I didn't happen yet and you guys give me a credit card and it goes through i'm suspect to your sir okay once it goes through and the money hits my account then I can spend that money everybody agree with that okay I don't spend tomorrow's money number two 40% rule if you if you could figure if you could do this forty percent rule that most people just completely don't get if you got a hundred percent of your money and forty percent just for for forty percent goes to the IRS our friends over at the IRS who hates them say say 10x if you hate the IRS oh my god Democrats and Republicans come together okay okay 40% man if you'll pay if you'll pay them if you'll pay them 40% you should at least pay you 40% everybody agree you figured out everybody rooms figured out how to pay these people they don't trust you that's why they take it out of the check before you can get the check the law the law says I have to withhold from you they don't trust you man you work for me I have to withhold from you before you get your money so they get their piece first that is a good financial decision I paid them good you got a pay Caesar that's what Jesus said paying okay and then what then then you pay you okay and then you live on this and this is where it becomes difficult you live on the 20 and you do not change your standard of living until the 20 changes so I don't rent the Lamborghini where's Cody yet but who came up in a Lamborghini the other day in my at my place where's that stupid man like what are you doing what are you doing man what are you doing okay like you're us no big deal it's just 1700 bucks but it but you know what it says to me hey I'm I'm not disciplined with my money I'm just saying like you got to be discipline with money if you if you if you if you are if you cheat on your money it will cheat on you you ignore your money it will ignore you if you don't take care of it it won't take care of you how many believe this okay rich people rich people as much as you might not like on the other kids got drug problems their marriage is falling apart but people did accumulate a lot of money paid attention to the money at least they did that part unfortunately they didn't figure out the marriage they didn't figure out the kids but that's got nothing to do with money that's because they didn't take the time to figure out the other games too so look this is the game right here I did not change my I did not change my level of living until this number changed I did not I've always paid the IRS I've been audited four times they can't get anything from me four times I think they got 1500 bucks from me on one of the audits they'll always get something I mean you just throw them something here fetch fetch okay because they got to have something their guys got to go back and say look I got I look what I got I mean you wasted your time three of them they got nothing okay and so like this is what I'm living on this is how I make my decisions in the business this is what I'm doing I'm like okay 40% if this is a business 40 percent goes to the biz to advertising to marketing spend it all okay I don't if I if I'm a self if I've got three employees and I got a a business that the money's coming in it's just running to me okay I'm not keeping that for me to live on I'm keeping that for the business to live on feed the business feed the beast how many of you read the book be obsessed to be average it says feed the beast that's the Beast feed the beast feed the advertising feed the marketing okay and what happens is you end up broke you can't live down here so what do you have to do if you can't live on this what do you have to do you got to either lower your standard of living control your standard of living or you got to increase that hundred percent so yeah so so so you know you're not out buying Richard Mille watches and and and and and and and uh roses and then and jets and blah blah blah and Gucci belts and belts you can't even you know you got yl on your belt that ain't your initials what are you doing man right and you're not faking me out it's not like you're gonna fake it's not like you're tricking somebody with your Gucci shoes you know everybody get the it's not gonna get you a meeting everybody agree with that it's just not gonna get you anything oh man you look really good yeah so what what you got to say what's your product what's your offer how does it solved my problem that's all I really care about at the end of the day okay number three if you can't write it off this is just a great principle you can't write it off don't buy it so so these are screens they're little filters right it doesn't mean it doesn't mean that that I will never violate these it means I got to have some position to start trying to live off of this if I can't write it off I'm not gonna buy it right so like what do I also if I could write it off I'm more inclined to to buy it number four rent it and rent and lease don't own you know you don't need to own any of this stuff just use it number five stabilize and grow your first flow before adding a second one don't don't go work on a second flow outside of your company work on a second flow inside of your company now how many of you seen somebody leave they got a second gig I mean this is really people selling baseball cards now and spending three hours finding something on eBay to flip like what are you doing man you could have earned that 40 bucks it's your job that day like why am I going after hours to figure a sad hustle when I was in my hustle for eight hours like what what you resent where you work that much that uh oh I'm gonna go do this other thing at night I just made $40 and it took me four hours and that's $10 an hour the guy worked for today paid me $28 an hour like it doesn't even make sense the math doesn't even work but that advice that advice is like rampant in society today number six the 47 rule so so so the 47 rule is look if you're gonna put 40 hours in at work how many of you work 40 hours a week let me see if you work at least 40 hours a week okay how many of you in the room works 60 hours a week good good good good for you and when you work 80 hours a week and like you're like how many of you complain about it take that goddamn I did 100 hours this week [ __ ] quit complaining man you should be bragging about it there's gonna be a day where you can't work you're gonna wake up one day and say I wish I could go to work nothing works anymore so quit complaining about it I always say man you bragging a complaint I mean I work 100 hours a week I remember when I was part time I remember when I couldn't think big every super successful person that I've studied talks about 100 hour 140 hour work weeks thousand hour work weeks burning late Bill Gates talking about I would I would grab something to eat I would fall asleep and I would write code and that's all I did I ate and I wrote code and if I couldn't write code I went to sleep think his giant and massive okay when China was ripping Bill Gates off at Microsoft okay he says hey China's stealing Microsoft would it not their hardware but their software he's like if they're gonna steal it we want to make sure it's Microsoft and I was like man the thinking is brilliant right it's like if you're gonna rip it rip anything up make sure you're ripping our product off okay so change your thing 40% rule means of the 47 rule means this I spend 40 hours working for somebody spend at least seven hours working on yourself every week hour day I mean what is that I'm gonna read okay all these guys talk about reading books Warren Buffett talks about reading three and four hours a day read they got guys actually saying they don't read anything bragging about it I'd never read I've never read anything books are for idiots okay well look all these super successful people that built billion-dollar businesses are reading and they got smart people around them okay and if you don't like reading who doesn't like reading in a room yeah well good so what Billy Boy reads okay you got to read folks you got to read does it matter if you want to do it or not I don't like to work out either so so what I sometimes I don't like my kids how many of you got kids how many is some time you're like jump get off the balcony okay number seven stay broke stay broke y'all got to stay broke man cash is garbage you don't need money you don't need cash cash is trash your mommy and daddy didn't know this cash is garbage it is trash take it out use it it is worthless until it is put to work okay listen to me money is worthless until it is put to work money is useless until it is used it's a piece of paper okay it's got God on it look how deitrick this was put God on there man okay we'll put him we'll put Ben Franklin hey what God's idea to have is his name on a piece of paper everybody agree with that that's a pitch come on man put Ben Franklin on this right he's a president okay like he ain't my president he did and then we act like it's sacred I got to keep it and protect it and now it's mine this is what this is what Brandon was doing this morning we're talking about currency if you look up the word comes from current current flows it has to be in circulation right it's it's it's plentiful it's a piece of paper it's only valuable when I take it out of my pocket get it out of the system and put it to work if I give it to the bank if I call up Wells Fargo today and say here's $100 where they gonna do with it they're gonna convert it it instantly converted into digits and then they will send it out nine times almost 10x never lose money number eight never lose money okay now if I leave this hundred dollars right here right here on this table on this podium is there a chance I'm gonna lose that money if I go buy a piece of marketing if I get say hey Frank go buy me an ad on Facebook or hey ad take a youtube video that we did we already got a bunch of impressions on this YouTube video put a hundred dollars behind that YouTube video and let's see if we can get a couple more people to see it which would be more valuable this I leave this right here how many believe if I leave this here all weekend somebody at Turnberry will take it yeah huh she had Jeff attack me he runs the place the stuff the sofas we'll take it the son will take it I steal everything this is my hotel my daddy told me right okay I never lose money number and if you look if you if you're sitting around with cash in your wall if you're gonna sitting around with cash you're gonna lose the money if you leave your money in the bank you're losing money everybody great okay you're going to negative rates we will go to negative rates in America we will go to negative race Germany's negative rates right now Japan's been negative for I don't know three or four or five years we will go negative in this country right now you're earning point zero zero one two at the bank you're earning 1/8 1/8 of 1% so compound interest in the 70s compound interest was a real thing that does not exist today at point zero zero one two you can't compound a fraction of a 1% and expect anything happened okay cash flow is what you want you don't want cash you want cash flow how many investors here how many of you invested with me let me say hands again okay good did you get a check this month every month seventeenth in him up bang he gets his check would I pay this month 3,300 3,300 we just did a million dollars with you move give him a big and I think I got a guy you want to know right now now dr. Karl and I belong to the same church and he injects he injects stem cells in my eye got some knee problems and so twice a year I go to Dallas and he gives me an injection and he says it works and I crossed my fingers and hope that works you know how's it working grant I said I don't know I think it's working I want it to work okay number ten never quit until you achieve your goals your financial goals never give up on your financial goals until you achieve your financial goals there's people in this room folks that are going to be worth billions of dollars there's a billionaire in this room right now I'll guarantee you it could be two or three up billionaires in the making right here okay question who's it going to be now if somebody in this room how many believe this there's somebody in this room a decision I'm going to put together a billion dollars how many believe that's possible everybody remembers it's possible you might not think it's possible for you but you know it's possible which means what the money's available would you would you do good things for that billion dollars okay you know that about yourself you don't know about the guy sitting next to you you know that about yourself so you know somebody could do it and you know if you did it you do good things with it right so go do it man cuz the money's out there's plenty and I grew up with a little five four foot eleven Italian lady that knew nothing about money she just knew hold on clipped coupons save your money how many you're brought up like that penny saved is and he earned save for a see you abroad the same way I was eat all your eat all your food if you don't need to know save it put it in the refrigerator right some of you got you got food in your refrigerator right now three and four or five days old you have no intention eating it some of you got you got like an eighth of a bagel left from five days ago right now you're like oh yeah it's in there right now you got you got you got ice cream in Europe in your freezer that's like six months old it's expired twice it's got that much frost on it but you've got one bite left I know it's still good you tell you kids just till you pass on the same [ __ ] to your kids you know your food eat all your food you eat all your food and then you wonder what we got obesity problems in America we live in a country that's rich and the people have scarcity in their minds you

Channel: Grant Cardone

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Keywords: uncle g advice, business, sales, financial success, grow your income, finance, top ceo money tip, best of grant cardone, money, money decisions, how to grow wealth, how to allocate income, money decision making, grant cardone, financial tips, 10x, money tips, grantcardone, motivation, yt:cc=on, money rules

Id: cQ4t_aYb3qo

Length: 16min 45sec (1005 seconds)

Published: Sat Dec 21 2019