Grant Cardone's 10 Rules to get your Money Right

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This is all you need to know about money, simplified.

Be sure to comment below which rule was the most surprising to you!
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Grant Cardone is a New York Times bestselling author, the #1 sales trainer in the world, and an internationally renowned speaker on leadership, real estate investing, entrepreneurship, social media, and finance. His 5 privately held companies have annual revenues exceeding $100 million. Forbes named Mr. Cardone #1 of the “25 Marketing Influencers to Watch in 2017”. Grant’s straight-shooting viewpoints on the economy, the middle class, and business have made him a valuable resource for media seeking commentary and insights on real topics that matter. He regularly appears on Fox News, Fox Business, CNBC, and MSNBC, and writes for Forbes, Success Magazine, Business Insider, Entrepreneur.com, and the Huffington Post. He urges his followers and clients to make success their duty, responsibility, and obligation. He currently resides in South Florida with his wife and two daughters. <br> <h3>Auto Generated Captions</h3>

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

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