Money rules the world. That’s what they say. It’s a very bold statement but a very fair one too. Money is the single tool that motivates almost everything that happens on Earth. Money can get things done faster. Money can get things done better. Money is a tool that has a limitless amount of uses. One person might use their money to feed their family. Another person might use their money to travel the world. Money doesn’t buy happiness but it buys a whole hell of a lot of other things. We shouldn’t make money the center of our whole life. But we shouldn’t be ignorant to it’s usefulness either. Money could help solve many of the problems and struggles we experience every day. Money won’t make your health problem magically disappear. And money won’t make your ex magically fall back in love with you. But nine times out of ten, money can help.
The thing people forget is that money is just a tool. Money can be ever powerful in this world. But money is in it’s core virtually useless. It can’t even burn a good fire. It’s a colored sheet of paper with a cute drawing on it. That isn’t going to change anyone’s life. Money is only as useful as the way you choose to use it. You can use money to experience more eventful things in life. You can use money to work on your side business. You can use money to help others. You can use money to increase your power and influence. There’s an endless ways to use money, but it really comes down to you and your preferences. You decide your relationship with money and how it will affect your life. A good way to determine how you use money is how you spend it when under pressure. The way you spend money under pressure is usually how you’d spend money normally. So if I gave you $1,000 and told you that you had to spend it today, what would you buy?
Here’s a short story on what I would buy if you gave me $1,000 and told me that I had to spend it today.
I remember looking at the check and feeling very unbothered. It was a good chunk of money for a college student to get for a week of work. But I wasn’t too impressed. It was just one thousand dollars. I don’t even think I knew how to cash a check. But it was my money. I created the two videos for the company and they loved it. My price was five hundred per video so that’s what they paid me. I was happy but I didn’t know what to do with money. I put the check down on my desk in my dorm and went about my business. A couple days later I was talking to Dwayne about the business we were working on. It was a great idea and we had been spending the last few months building out the website for the art courses. We still needed to record the art courses and everything too. But that’s when it hit me. I would put the thousand dollars into the business.
So the next week we set up a business account and I put the thousand dollars in. We had our first business bank account. It felt official. We hadn’t made any money but we had a business account with money in it. We eventually found a homeschool expo to launch at two months out. When we booked that event things got real. We needed to get a lot of things done to be prepared for launch. The money I put in the account ended up going to all those things we needed for the business. We bought different expo booth backdrops and decorations. We bought fancy startup shirts to look cool. And there was a bunch of other random expo expenses that my money went to. In the end, I was really happy that the money went to a good cause. It might seem like my hard earned money went to waste. But years later, that business is up running and making multiples of what I put in every single month.
There was another time when I had just finished working on another freelance gig. It was yet another video project for a company. Honestly, I only freelanced for companies and non-profits. And I enjoyed making videos so it was a great way to spend my time. This company paid me another thousand dollars for the video. And of course, years later my price had gone up. That was for just one video. It was a cool project and I had a lot of fun. But I’m never really ready to get the payment for the project. I didn’t have any real need for extra money. I was quite happy with my current lifestyle. I didn’t need or want anything new in my life. And if I did, chances are I didn’t need it at the moment. So I had one thousand extra dollars to my name with no real place to spend it. That’s a real first world problem. Of course it was a problem I didn’t mind having.
Then one day after watching some Youtube videos it hit me. I was interested in stocks and investing. I’ve always wanted to get into it but it seemed very intimidating. I wasn’t scared to lose my money. I was just scared of wasting money on advisors or fees that were a waste of time. But the videos and articles I read were talking about a new app called Robinhood. This app was a new investment service that was completely free of charge. It was well designed and very credible. I decided to take a swing at it. The minimum investment was five hundred dollars. So I put five hundred dollars in. And then I came across another new service called Wealthfront. It was similar except it automatically invested in stocks for you. I put the other five hundred dollars in a Wealthfront account. Over the months and years I’ve been learning more and more about investing from that same thousand dollars.
And then a year later I had yet another extra thousand dollars to spend. I don’t make lots of income. But every once in a while, I’ll do a freelance gig that gives me a little extra cash. This time I knew exactly what I wanted to spend the money on. I had been watching a lot of videos of Youtube with people running vending machine companies. It seemed like a simple and easy side hustle. So I decided to try my hand it. I wanted to create my own side hustle that would bring me extra income every month. So I bought a gumball machine and some gumballs of the internet. I also learned about something called honesty candy boxes. It’s like a candy machine except it’s just a box. Anyone could steal from it at anytime. That’s why it’s called honesty boxes. I spent four hundred dollars on a bunch of honesty boxes and blow pops from Sam’s Club. And I still run a bunch of candy boxes for extra income today.
The point of all of those stories is simple. I like to spend money on things that make money. I’m not scared of losing money. I just hate spending money on things that don’t add real value in my life. I’ve read “Rich Dad Poor Dad” enough times to know the difference between an asset and a liability. I spend my extra money on assets whenever I can. So if I got one thousand dollars to spend today, I would immediately find assets to spend it on. And one of the easiest ways to spend that money is on ads for one of my businesses. I know it sounds pretty boring but that’s the reality of how I spend money. One thousands dollars would be put into Facebook Ads or Google Ads for one of my businesses. That would take a few minutes to set up. And if it wasn’t either of those two, I would put that grand in the stock market. I’d probably put it all into a share of Netflix or Amazon.
That’s how I would spend $1,000 today. Thank you “Rich Dad Poor Dad” for teaching me how to spend money to make money!