Hack Your Way to Freedom: The Psychology of Saving Money | Woke Money Hero | Skillshare

Hack Your Way to Freedom: The Psychology of Saving Money

Woke Money Hero, Money Coach, Author, and FIRE advocate

Hack Your Way to Freedom: The Psychology of Saving Money

Woke Money Hero, Money Coach, Author, and FIRE advocate

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9 Lessons (44m)
    • 1. How to Get the Most Out of This Course in Half the Time

      3:35
    • 2. Part I: What no one taught you about money

      2:51
    • 3. Part II: Why you haven't been able to save

      7:10
    • 4. Part III: 3 principles for saving money every day

      4:54
    • 5. Part IV: How to make saving money a habit

      6:48
    • 6. Part V: How to know how much to spend

      4:35
    • 7. Part VI: Turning savings into investing

      6:30
    • 8. Part VII: Finding your purpose won't set you free

      6:28
    • 9. Closing Remarks

      1:15
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About This Class

Hi there- I'm a Money Coach, Author, and FIRE (Financial Independence, Retire Early) movement advocate who's saved $100,000 three times in my life, retired in my mid-30's, and I'd love to show you how I did it. If you're serious about upgrading your money mindset, this course will definitely help you gain:

  • Proven hacks to save money
  • An understanding of how to free yourself from "working" for money
  • Class updated for 2021

This course includes practical hacks along with 5 powerful Guides and Exercises to master saving money. I'll show you the precise system to turn that savings into tools which can help you create passive income where you never have to "work" for money again.

Budgeting is just one of the ways to gain control over money and while it may be very important, it's not the first step. That's because no one ever really taught you about money! And it's a hard lesson to learn for most people that repeats day-in-and-day-out, paycheck-to-paycheck.

This will require some time and effort on your part to get going but once you do, the rewards are definitely worth it as we're actually going to identify what it is you could be earning money doing instead of your 9-5 job (a current job is not required). 

It’s time to finally understand what has kept you from saving money once and for all and to start living your best life. Through my research, it's clear that anyone CAN save money if they have the right "hacks" to do so. I share this system with anyone who's willing to put in the time and effort to learn it and wants to be held accountable to it even if they've tried saving money before and came up empty-handed. 

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Here's what you'll learn:

  • Start a profound new relationship with money
  • Free yourself from the mental blocks that stop you from saving
  • Maintain an easy "done-for-you” budget
  • Gain insight into how to make your money work for you
  • Generate passive income and start building financial security

You can find also find Woke Money Hero at http://www.wokemoneyhero.com or [email protected]

Meet Your Teacher

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Woke Money Hero

Money Coach, Author, and FIRE advocate

Teacher

Hello, I'm Woke Money Hero. 

Anyone can start saving money and living the life they dream of. As a Money Coach and Author of 27+ Hacks to Your Financial Freedom (https://amzn.to/31l5CJg), I research and develop courses and books on how to shift your money mindset for good.

Having grown up in the 1% but also having watched my father make poor investment decisions and lose it all, I have the unique perspective of how both worlds work. The hacks and philosophies I live by are what helped me save $100K three times in my life and live off of passive income. These are the how-to hacks that I teach in this course. 

I got an early start as a real estate investor and FIRE (Financial Independence, Retire Early) advocate. I combine my own exp... See full profile

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Transcripts

1. How to Get the Most Out of This Course in Half the Time: pie and congrats on investing in the Hack Your Way to Freedom. The Psychology of Saving Money Course. This course is quite different than the usual class you'll take. I'll try to make things interesting, which is much more than I can promise on other saving money courses, which primarily focus just on budgeting. My promise to you is that by the end of it you're going to know why you haven't been able to save money, ways to finally start saving money and how to put that money to goodies. My goal is to inspire you to believe that living your best life is possible. I'm going to give you an overview of the course, but also want to make sure you're in the right place. This course is not for someone who wants to get rich quick or who's into pseudoscience. I provide practical tips for saving money. Some you may already know how to save some money, but if you're taking a course on saving money, there's something that hasn't worked for you yet, and my job is to help you uncover what that isn't help you overcome it. Why am I teaching a course on hacks? well, hacks help us do things we want to do quicker and more efficiently. And in today's world, how to do things efficiently is a very valuable thing to know. Indeed, I've distilled a five hour lecture into this one. Now, of course, taking ALS the most vital information and examples and throwing out the rest. Would you rather watch a five hour lecture and learn a little Loren? Our lecture and learn a lot value isn't in how many minutes you spend to do something quite the contrary. It is in doing things in the smallest amount of time possible. That is the key. Take, for example, the way people used to wash their clothes by hand. Thankfully, the washing machine and the dryer have made our lives easier. Likewise, things like Venmo and PayPal allow us to conduct business at the speed of light. Why would we write someone a check if that check could potentially be lost in the mail or stolen when we consent funds electronically instantly. Efficiency is a key principle to understand if we want to make our systems for saving money work best. If you've always wondered how some people manage to get ahead in life, while others are left in the dust. You're in the right place. This is a course about your money mindset and how to stretch it passed the limits you have set for yourself. This is going to take some work on your part, but with my guidance and your consistency and showing up for the lessons of the course, I can promise you that your money mindset will forever be changed for the better. So here's what you're going to learn. Part one. What no one taught you about money and y keeping it that way makes other people rich. Part two. Why you haven't been able to save money in how not to feel bad about it. Part 33 Principles for saving money every day in the mind set to go with it. Part for how to make saving money a habit and hack your way to success. Part five. How to know how much to spend on what you want versus what you need. Part six. Turning savings into investing and passive income. Part seven y Finding your purpose weren't just set you free from a 9 to 5 and how to actually do it. You ready for all that? I sure am. Let's go 2. Part I: What no one taught you about money: there's a reason they don't teach us how to save money in school. As you know, everyone comes from different backgrounds, and different socioeconomic status is. Some people know more about money by learning it from their parents. Others don't know where to start. I'm assuming that you either have no prior knowledge on how to save money or you've tried a few tactics that didn't work. If you're good at savings and just wanted to check out my course because you heard about it from a friend or saw my YouTube channel Welcome. Whatever the reason you're here. I firmly believe everyone should have the tools to save money regardless of where you come from. Speaking of where you come from, keeping people in their place helps a lot of people make money, either by keeping them in their 9 to 5 jobs, working for someone else or just not allowing them to start thinking for themselves when it comes to how they want to live their lives and spend their money. A 9 to 5 job is a way to make money, and it's the way a majority of people do it. But there are other ways to make a living much more nowadays than ever before while also providing stability and consistency. That's exactly what being an entrepreneur is. It's learning to deal with uncertainty. I'm going to provide practical learnings and tips for how to objectively look at that lifestyle so you can evaluate it for yourself. But the corners tone of financial freedom is being able to save money. I'm betting you have wondered how people are able to break free from the typical 9 to 5 and maybe even seen people retire early. I'm one of those people, and I'm about to give you the inside track on how it's done. If a 9 to 5 creates predictability and stability and that's the goal, then the alternative to that must also create the same result. But when we are constantly bombarded with things like ads and holiday shopping, it becomes tough to save money. Our economy is built on the fact that people will buy things. 70% actually comes from consumer spending, and as we get older, the more set in our ways we become trying to save money when we're in our thirties is harder than if we had learned it in our twenties, but that doesn't mean it's impossible. I've helped many people see the benefits of saving and helped them instill the best practices to continue to save. The fact is, most people don't save money, so you're already light years ahead of your peers, so I want to congratulate you on taking this step. 3. Part II: Why you haven't been able to save: So now that we've established how the system is set up, let's look at why you haven't been able to save money. I'll give you a hint. It's not your fault. Aside from the fact that society has bombarded us from a nearly aged with the thought that spending money will make us happy, it's actually our own past experiences that have molded our thoughts about money and why we think we can't save it. And while we can't control a lot of the things that happen to us, we can control how we react to them. Take a moment and think about your reaction to this statement. Everyone is able to save money and live the life they dream off if you ask me. I agree with that statement whole heartedly. It may not be true for some people, yes, but I believe that the potential is there with knowing the right steps to take in putting in the work for a lot of you. You may not agree with that statement one bit. Have you ever wondered why you think that way? Was it because you grew up in a tough environment? Did your family live paycheck to paycheck. Did you always want the finer things? But they were just out of reach for you. There are millions of reasons why you wouldn't want to believe the statement. And a lot of those reasons come from your past experiences. If you were to ask this questions to someone who grew up in a wealthy neighborhood, went to private schools and country clubs, they would probably agree with the statement. Does that make me someone who grew up in a wealthy neighborhood? Yes and no. I did grow up there, but then my father made some bad investment decision, and we lost it all. I'm talking bankruptcy and moving in with my cousins. I have the unique perspective of seeing both sides of the corn and have very interesting insights into how the two worlds work. You can imagine the type of thoughts I had about money. Keep it close because it's going to be taken away. Don't make dumb decisions with your money or you lose it all. And the biggest one is I have to succeed to prove that I'm not a failure. All these mindsets have made me the person that I am and are actually helping me teach a course like this for your benefit. You see most people get caught in the same mentality. I have to work hard to earn money and live a comfortable life. And maybe, just maybe, I'll be able to live the life that I want on my own terms. Those same people think that the 1,000,000,000 heirs of the world got there because of luck or because they inherited that money and didn't have to work. That is very true for some. But what I'm interested in is the third way in the way that not a lot of people talk about because it's seemingly so hard to do. Hacking their way to success In his book, The Third Door, by Alex Bernini in he likens it to getting into the hottest club. There's the line around the block where most people choose to try and get in. There's the V I P line, where you have to know someone or be someone. But there's also the third door the way in that no one else has thought off. It's so elusive to most that the novelty of the way in is by itself the key to getting in the door. It just so happens to be the window or the back entrance. But there's always another way in its the hack that, if you knew about you, could save yourself the grief of waiting or the cost of exclusivity. It's the third option with a little hard work and ingenuity, you confined the way in, and I don't believe in luck. Luck could be described as a bus that makes the same stop every day. If you miss an opportunity, there's another bus on the way. But what most people don't understand is that if you don't have the right fair amount, you're never going to be getting on that bus, no matter how often it comes. James. It's the preparation, knowing when the bus comes, how to get a seat, how to time it just right. That's the key to thinking about getting ahead. The mindset that we have about money is the one thing we need to change if we want to change our habits when it comes to saving. Are you like most people and have a few insecurities about money? The first step is to get rid of the shame that surrounds it. it's the shame we have for money or what's typically the case. The money that we don't have that traps, that insecurity. The thing about shame is that it lives within us never seeing the light of day. We see the images on TV or the Internet about wealth and having it all, and we secretly feel less still and we're ashamed of that. But the second you acknowledge that the second you speak the truth, Jame can't hold its grip on you so tight you give up feeling less than it because you have accepted that it's there. Disputing is the act of substituting thoughts that aren't helpful with ones that are. If we believe that savers are cheap and no fun, then we won't ever want to become a person who saves for fear that others will see us is boring. And there's a difference between being cheap and being frugal. By the way, think of Cheaper is you're only out to buy the lowest cost items, no matter the quality, Frugal adds a level of efficiency. You want the best product or service, but at the cheapest cost that you can get. But if we're able to find exceptions to the rule that we've set in our mind, we begin to change that opinion. I hope to think that I'm not boring and I'm definitely not a cheapskate, and I've been able to save over $100,000.3 separate times in my life. Saving money is cool and is able to get you things that you wouldn't have been able to buy just spending that money. The fact is, it's way easier to spend when we want something we can just pop over to Amazon, and after a few clicks are items will be on their way to arrive at our doorstep 48 hours later. No waiting in line, no driving, no haggling on prize. It's all done for you. Why wouldn't we spend by delaying our gratification? We get to put the money to better use when we buy. Things were typically buying things that are considered liabilities. We owe a debt to purchase, the more we pay for them outright with cash, but they aren't earning any money for us. If we go to sell them, we won't be able to get us much is when we bought um assets on the other hand are things which actually makes us money. These are things like rental properties and cars that we rent out on sites like Turo. When we start to look at how our purchases affect our bottom line, we gain a greater understanding about the power of saving. 4. Part III: 3 principles for saving money every day: If you've heard of the fire movement, you may already know about what the power of saving conduce you. If this is your first time hearing about it, fire stands for financial independence. Retire early. The main concept is that you get to a point early in life where your expenses are much less than your income and your income is made in a way that is typically passive. You aren't actually working for a living. Your money is working for you. In today's world, the Internet has made it quite possible to start a business online and reap the benefits for years to come. Once this mindset is achieved, the lifestyle that goes with it could be one of living and working remotely. Since your paychecks are coming in no matter where you are in the world, it is also quite possible to arrange for remote work with your current job. If you are what's called on information worker or someone whose primary responsibilities do not require you to interact with clients, soccer workers face to face and there is a fair degree of flexibility in your working shifts. So how do we start saving money? Well, I've given this a lot of thought and did a lot of research. There are so many people out there teaching you how to budget, but that's only a small piece of the larger picture. If we look at another industry like the weight loss industry, we see that there are also so many people teaching how to lose weight supplements. Exercise calorie counting fad diets are some of the tools that are used to help people do that, which is the ultimate goal. Reduced the intake lower than the output you want to eat just enough for your body to metabolize food. If you were to simply maintain your weight, you would eat the same. A mountain, not fluctuate in weight much. But you also wouldn't be losing weight. The same goes for saving money. If you keep doing the same things, you won't be getting to your ideal savings. Go lower weight, but losing weight is hard. This could be true, but things like the key toe diet have actually been proven to help people lose weight because at its very core, its goal is simple. Reduce that which is causing you harm in this case, carbs and sugar and replace it with healthier alternatives. The results are shocking to someone. They don't even feel like they're on a diet. If we apply the same thinking to saving money, we'll simply be replacing the activities and products that are causing us to spend money or gain weight with that which is more productive or healthier for us. When we make this process automatic, it starts to become a habit, and habits are what are going to make us save money or lose weight. That's not to say that we can't splurge a little. On the contrary, Once we get in the habit of saving, we can use a little bit of the extra savings to do things that we love. The fact that we aren't indulging all the time makes the experiences that much more rewarding and special. It also allows us to get better at predicting when we should be indulging and when we should be saving. This is the hallmark of creating a budget, being able to predict our spending, and if we take the weight loss example one step further, we see that being able to predict how are exercise effects, what we eaten when we eat our bunch. It comparison only grows stronger. It's the interrelation of our actions to our bank account or waste lime. There are three ways. Our minds that can change if we want to start saving money. If we start thinking differently than we have in the past, we can start to do things that we haven't been able to before. If we think big, we start to see that not only is saving money possible, we can actually say the whole of money by building on the basic principles of saving a little bit of money. By thinking smart, we can sustain that savings for the long term and start to see opportunities where once we couldn't things like making New Year's resolutions or yearly budgets only take us so far. The magic is in the way we stick to it, not letting minor setbacks get the better of us being able to better predict what we realistically spending and readjusting at the beginning of every month. Being stuck in our ways. Origin for the sake of saving money is what actually gets us into trouble. Not being flexible and not having an emergency fund does more harm than good. It's having these insurance policies that ensure success 5. Part IV: How to make saving money a habit: So how do I actually save money? Well, if we look at your largest expenses, I'm guessing that housing is one of thumb. So what hacks are there to save money here? Since this classes for all age groups, I'll break it down that way, If you're on the youngest side of the age spectrum or are OK with having roommates, you can save hundreds or thousands of dollars by partnering up with someone to share the build. Doing this is the cornerstone of starting to save significant sums of money. Let's say you're a little there or don't like living with others. There are still ways to save on your housing build. They get a little more creative, but they work nonetheless. Airbnb has become popular in recent years, and for good reason. Many people are paying significant amounts of their rents and mortgages with the service. But let's say your landlord isn't into allowing you to air B and B. Does that stop you in your tracks? Does it set your savings goals back? Are you stuck in your apartment? Are you able to explore alternatives? What if a landlord down the street from you welcomes you to Air B and B. And what if you know you could make money doing it, especially since you'll be on vacation for a few weeks this summer. And it's not just rooms that you can rent out for profit. I posted on next door and now rent out my garage for $100 per month For someone to store a car, I literally have to do no work and get the money in my account like clockwork. If none of these options work for you, what about downsizing? It's a temporary solution, but if it allowed you to finally start saving, you'd be a few steps ahead of where you are right now. You're prioritizing your future over all else. And why can't someone who's in the older age bracket with an extra room rent it out to someone younger who needs a place to live? What if that younger person were able to do the household chores for a reduction in rent? Get creative. Just because you haven't heard of someone doing something, it doesn't mean it can't be done for me. I lived at home with my parents for almost three years, right out of school this allowed me to save almost 95% of my paycheck. This is the biggest housing hack I know of in doing this. One thing helped me save the money needed to buy my first condo. I realize that some parents will charge their kids rent for living with them on This may not be avoided fully, but if it is possible to put that money into a savings account that is available to you when you do move out, you're so far ahead of the game. Being able to buy property earlier in your life will allow you to put more of the money that you're making to work for you in terms of paying off your mortgage on. Then the possibility of using that money to invest in other properties becomes a reality. I got to a point when I was 36 that my rental income was paying all my expenses and then some, thus retiring early. How did I know to invest in real estate that goes back to watching my dad do it? If we don't grow up seeing what's possible, the likelihood that we'll break out of the mold that our peers are in is low. We have to see what we want in order to know we can get it, and if we don't think we can get it, we're automatically doing ourselves a disservice again. It's our mindset. That's the one thing standing in our way, as kids we reach for the highest version of what we see is possible if we get our cues from TV and the Internet. We think that we should aspire to be like who we see every day. The reality stars living in huge mansions and driving flashy cars. But have you stopped to think about how they got there? They're living the life that they think you want to see their paid with endorsement deals and advertisements to feed you the things that make the money. They only produce what we consume, your next biggest expenses likely food and or health expenses. And this makes sense. You need to make sure you have a roof over your head so you can focus on things like food and health next. So how do we save money here? Food is one of those things that we have tohave, but it's also one of those things that our bodies crave. I know this one for sure, is I'm a self described foodie. But what I've done is systematized buying the things that I need every week, things like bread, milk, lettuce, etcetera and then budgeted for the things that I want. Delivery services like gold, eggs and Amazon fresh aren't actually all that expensive, and they give you more than just predictability, not having to drive to the store. ALS. The time is a true time saver, and it's true that cooking at home is cheaper on the whole. On eating out. You may not be a great cook. There are so many gadgets nowadays to help with that instant pot. Sodastream waffle makers you name it. They've probably thought of it. But let's say you miss eating out. Totally get it. That's where your budget comes into play by knowing how much you typically spend and then predicting when you will spend that makes all the difference. You're not cutting restaurants out entirely. You're just being smarter about it. Signing up for things like Groupon plus lets you save on purchases you're already making. Why pay more when you can get the same thing for less so Let's say you're doing great with your budget and something pops up out of the blue, your car breaks down. You missed your aunt's birthday or there's a leak in the roof. Well, we can't predict everything. Anyone who tells you they can is lying or trying to sell you a bag of you know what. But what we can do is have a fund that takes care of these unexpected surprises. And if the expenses actually one that we need to take into account every year, we could do just that. When we re evaluate our budget, let me be clear. This is different than our savings account. We don't want to touch the money in there. I've put together a downloadable guide to help you save money in a number of different areas and hope you find it valuable 6. Part V: How to know how much to spend: But how do I know how much to put in these accounts or what to spend money on? The rule of thumb is 10% in savings. If you're saving up for something big, you may be wanting to save mawr, but that is a good starting point. I'm always so amazed at how people only start saving when they need something. What if you're in your early twenties and you know that you want to buy a house someday? Wouldn't he want to start saving as soon as you could? If you know you're eventually going to need that money if possible, putting 10% in an emergency fund is also advisable. If 10% is too much, you can start smaller at 5%. The keys to start getting into the habits. Housing could be as much as 50% in some large cities. That leaves 30% for all things food, entertainment, insurance, bills and expenses. Some of you may think that's not enough, but what if you're on the phone bill all by yourself? Could you partner up with a friend or family member to save? Most people are spending $100 per month on a phone bill. If it costs $20 to add someone bringing the built A $120 splitting it, it comes to $60 saving you $40 every month. It should be noted that that's $480 savings a year. Thinking in terms of a year will help you see the big picture. Likewise, car insurance is typically around $100 per month. But are you tied to one company, or are you able to shop around? There are free services like nerdwallet that help you compare prices and watch your actually getting for those prices. I'm providing a budget worksheet for you to use. But remember, it's not the tools you use that are going to make the difference. It's the mindset. If we're about to play a game of hoops with an N b a player, do you think it makes sense to go buy new shoes and the cool new outfits? Pretty sure they're going to score on new easily anyway. But what if you learn that they were weaker on their left hand side and you spent your time playing to his weakness? Do you think that would help you at least school One point. Maybe. The point is, the shoes you're wearing aren't going to help us much. Likewise, What budgets happy views isn't going to matter unless you get the principles of budgeting down. I would be remiss if I didn't speak about credit cards. At this point, a lot of people use credit to buy things they can't afford. I understand that. But with everything you've learned so far, I hope you see that that's just what they want you to do. Rack up interest payments so you're constantly paying the credit card companies to keep them in business while you continue to live paycheck to paycheck, never able to save or get ahead or really understand the value of money. Regardless of how much debt you have moving forward, I'm hoping there's a way where you start only buying things that you can afford. If that's an impossible statement, I hope this course has taught you others ways to save money that can help you afford those credit card payments. Having a credit card that either gives you points or rewards towards free things or money back really goes a long way. If you do pay for many things on credit, Maintaining your credit score is super helpful. Here. Is it effects your interest rates. There are services which help you repair your credit and can be well worth the investment. I have a credit score of 810. I don't tell you that to brag, I tell you that. So you know it's possible the minute that you understand that you can poke life and actually something will. If you push in, something will pop out the other side that you can change it. You can mold it. That's maybe the most important thing is to shake off this erroneous notion that life is there and you're just going to live in it versus embrace its Change it, improve it, make your mark upon it. Steve Jobs said that, and I think those words are huge when it comes to understanding what's possible 7. Part VI: Turning savings into investing: Another huge point I hope to teach you is that investing in yourself is the surest way to your success. Once you start learning how to save money and have some extra aside from the money you're saving for your next big purchase, is it buying a house? You can put that money to work for you instead of you working for that money. When you take courses or learn a new skill, you're enhancing your net worth in a way that can't be taken away from you. Even if you were laid off, I've been laid off three times. No one can take those skills away from you. It's much like losing weight. It's one thing to lose the weight and another thing to keep it off. But once you start working out, you invest that time and energy in yourself, and no amount of junk food can take that away from you. Your mind set has changed and you know how your body works. So you know how to set yourself up for success. No matter what life throws your way. Take this course. For example. You may have already known how to budget or what to look for to save money, but I'm guessing you didn't know why you couldn't keep saving money before. What kinds of things really stand in your way? Why, it's an uphill battle. But I'm hoping you feel stronger now that you know and are able to climb that once impossible hill. And you're now someone who doesn't let minus setbacks get in your way, knowing that you will have a setback or two and literally planning for the unknown. You're in a much better spot than your peers. You now have the keys to take on the challenge and face it head on. No longer rather days where your money controls you, you are in control of your money. The exercise for this lesson is to write down your thoughts. In answer to this question, what are all the things standing in my way to financial freedom in the next two columns, right? All the best case scenarios that could happen because of getting over this hurdle and in the last column, right? The worst case scenario. What's the worst that could happen? I've included on example toe help get you started once we have a solid savings foundation and start to invest in ourselves. We get to take thing to the next level in terms of our investing. Maybe you're interested in real estate and taken online course on that. Or maybe it's online marketing. Whatever it is, there's a course for it. It doesn't have to be you to me, either. There are a ton of free courses out there. Code Academy has free coding classes, and Morning Star and Vanguard have free resources on how to invest in stocks at some point in the future, you may get so good at this task, what you're passionate about, that you want to take the leap into providing that service to others on your terms. Much of what I stumbled into by following my curiosity and intuition turned out to be priceless. Later on, you can't connect the dots Looking forward. You can only connect them looking backwards, so you have to trust that the dots will somehow connect in your future. Another quote by Steve Jobs This one speaks to the fact that we must trust that we are around the right path because we're following our intuition and it can steer us to what we ultimately want to do the trick to finding what you like doing is easy. Take a step back and see what you like doing in your free time. If you had ALS the time in the world, how would you spend it? What if it were possible to do this for a living? I'm here to tell you it is possible, even more so now that you've taken this class. But it's more than just taking a class. You need to put the learnings into practice. It's a lifestyle switch, a change in mindset. But once you start seeing that it's possible you have every reason to believe that you can take the steps to make your dreams come true. When we work on our passion, life becomes easy. We don't notice the time passing by or the hard work we put in because it doesn't feel like work. There's an ancient Japanese concept that means a reason for being. It's called geeky guy, and it works like this. Passion is something that you love and are good at but won't necessarily bring you fortune because others may not be into its as well a profession. On the other hand, maybe something you're good at and provides a paycheck, but you don't have passion for it all. The world may not be wanting what you're providing. A vocation is something that pays in something the world needs, but not something you love, or it may keep you stuck in a rat. A mission is something you love and something the world needs, but it doesn't pay, and you may not be good at it. Geeky guys, the intersection of all four something you love are good at what the world needs, and you can get paid well. Four. Maybe you like jewelry, but don't know the first thing about making it. There's a course for that somewhere, or an apprenticeship you could create with a local jeweler. And maybe you realize it's more work than you thought. Better to know that now, wouldn't you say, instead of always thinking how your life would be better if you were making jewelry on to the next hobby? Once you find what makes your heart sing, you'll know and the word of caution. No one talks about the emotional side of things When you turn your back on the life that you were expected to live in ALS. The sacrifices that needed to be made to get you to this point. It goes without saying that you're taking a leap of faith here, but following your heart is the path to freedom and away from greed. Um, instead of your fears, focus on your desires. At this point, you want to be very specific with what it is you want to do, the more specific you are, the closer you get to achieving it. I, for one, don't know how this works exactly if it's a self fulfilling prophecy or divine intervention . But it works. Knowing what you want is the clearest path to getting it. Writing it down starts to make the dream or of a reality. 8. Part VII: Finding your purpose won't set you free: the next step is turning that passion into income. Will you be charging a fee for people to use your service, or will it be a subscription that they can access online? Either way, you can charge for your expertise. Once you become the expert, people will want to hear what you have to say on them or advice you give. The more people it will resonate within, the more they will be willing to pay to get it, take you to me. For example. I made this course and get paid every time someone invests their time and money in order to learn from it. I did the hard work once and now get the benefits over the long term. There are plenty of things I would want to learn about and would pay money for, and I'm sure some of you could teach. This isn't enough for you. To me, there are plenty of other platforms for you to choose from. Well, make your own website. Or maybe it's a vlog instead of the class, and you have advertisers pay you for attracting the attention of potential customers. Attention is the new currency, and advertisers are willing to pay you for it. The exercise for this lesson is to take the making money online worksheet and circle. Which ideas seems the most interesting to you? Next, I invite you to search that terms. Either on you know me or YouTube and watch one video free is fine. You're starting to get acquainted with what all the idea entails. And if it still sounds interesting after a video or two, you may have found a potential opportunity. You'll know when you can't get enough of a topic that you've found one you love. Many people have created passive income businesses around their passions, thus turning something they love into something they profit from, all the while loving every minute. Without the sound financial principles like the ones you've learned in this course, they could be frivolously spending that money and not getting ahead. The simple fact is, once we start spending Mawr or the same amount as we make, we aren't able to get ahead. We're stuck in the constant loop that keeps us living paycheck to paycheck. I watched over 30 webinars on making money online until I found the one that interested me the most. My choice was affiliate marketing. Basically, I build relationships with potential customers and introduce them to other businesses and their products. I guess a commission for every sale that comes through. I love it because it plays to my strengths. I'm an introvert and would hate doing any over selling tactics. I think that's key to finding passive income. You want to pick something that you enjoy doing, and that speaks to your strengths. If you're in extroverts and enjoy speaking with people, maybe you want to do webinars and YouTube videos on your topic of interest relating to your audience is the biggest factor. Once they trust you, and you show that you're someone who knows what they're talking about, consumers are more likely to want to spend money with you on the products that you recommend. This is why so many brews talk about having an email list. This is your chance to continue the conversation with your audience and introduce them to even more helpful resources. I choose to do things a little differently when I give away a ton of helpful resources for free on my website work Money Hero did not come. My goal is to help you succeed because I see the incredible opportunity there is at this point in history to generate passive income and want to help as many people as I can. I did an experiment after getting laid off from my last job and relying solely on my rental income from the rental property that I lived in for nine years. I signed up for the rover rap. If you aren't aware, it's a dog walking out. Now I know what you're saying. If you had other income coming in, this wasn't a true experiment. But that's not the point. The points is without the fear of failure. I was ableto hack my way to success. Most people on the APA rely on the app to advertise their services, so I knew I had to do something different. To stand out, I started advertising on Facebook and printed failure. Low cost business cards toe hand out to people in my neighborhood. Within a matter of weeks, not months. I was the go to dog walker for my surrounding area and was getting people to join the app because Rover had a promotion for free dog walks. I still got paid my full fee, but new users got a free walk for their dog through the APP. The moral of the story is I'm not the best dog walker, probably far from it. But I love dogs, have a passion to help people with their dogs and new a few hacks to combine my passion with the people who needed their dogs walked, advertising my services at the right time to the right. People worked, and it was something I could do on the side while I wrote my book on how to hack your way to financial freedom, which goes way Maurin depth on what the actual hacks off a reach area of life way more than I could just list in this class. The more people you resonate with, the more value you provide and the more value you provide, the more potential money you can make, doing what you love to do. It's a win win and has afforded me to live the life of my dreams. This is my sincere wish for you. Take the calculated leap forward in life by becoming good with money and learning to invest it in yourself. You make sure you are a force to be reckoned with, and it's going to be scary at first. Every leader has fear. If they say they don't, they've just lied to themselves to in order to take that next step. What they're actually using his courage. It's realizing the fear that's in our biology, embracing it and choosing to act anyway. That is the true test of moving beyond your comfort zone and into the realm of your best life, because no one never makes their wildest dreams come true in their zone of certainty. 9. Closing Remarks: And please don't think that being ableto handle uncertainty is something that you're born with. Think of it more like a muscle that you need to stretch and grow. Once you start working that muscle, uncomfortable situations become more bearable. Once you start feeling some pains, you know you're growing. You're working your way up to the next weight class. If you pull a proverbial muscle, you know you've gone too far and need to take the weights down a class. The one thing I know for sure is that everyone has fear, and when you do feel the fear, you acknowledge it and tell yourself that a normal person would be afraid of that to this helps ease your mind and gets you ready to take that courageous step forward. The first step towards living your best life. The final exercise is to take a look at the list of ways you can match your passion with your purpose. By knowing what were good, it we can capitalize on our strengths and share this knowledge with the world. This concludes the course. I hope you have gained an understanding of what it takes to lead a life on your own terms and that I've done my job showing you that it's possible. Thank you