Category Archives for Money

Your One Word by Evan Carmichael

Your One Word by Evan Carmichael – The Powerful Secret to Creating a Business and Life that Matter

In this video, we will be reviewing Your One Word by Evan Carmichael. I’ll teach you how you can increase your success by finding a single word that describes yourself and I’ll find mine in the process, there’s also a ton of technical tips on building a brand and business in here, I hope you guys enjoy this video and learn something from it!

Your One Word by Evan Carmichael

Your One Word describes who you are, what you want, and how you are going to grow yourself and your business.

Evan breaks up this book into three main parts, Core, Campaign and Company, and uses each chapter to help you find, use, and keep your one word for many reasons. I think the most important thing about your one word is that it helps keep your true north, what you really want in life during the difficult times. Martin Luther King Jr’s word was Equality, Oprah’s, is Heart, and Steve Job’s was Impact.

Basically, the Core chapter explains why it is so important to have a single word to describe yourself and how to find it through some simple exercises. It helps you evaluate your life, your character, and who you want to be in one word.

3 Ways to Sell a Product

Something I found helpful in this chapter is that he describes three types of selling. You can sell using a feature; this is when you sell a product marketing it by what features it has. For example, if you’re selling a lightbulb, you might claim it will last over 50 years and cost less than $5/year to power. These are independent features of the product or service. The second form of selling is Benefit Selling, when you market a product or service to how it will help the buyer. For example, you could say your lightbulb will never have to be replaced, and this sells emotionally and practically to the customer who is buying it. The third, however, Evan says is the most important and it is Core selling. It’s selling with your one word in mind. Core selling would be selling your lightbulb by showing how buying it would change the world. Maybe you will reduce total waste on the earth, or reduce energy consumption in a way that is very eco-friendly. Steve Jobs said in an interview that it wasn’t his first million, his first 10 million, it wasn’t even when he hit 100 million dollars that he felt like he was done, he said he wanted to change the world. The same with Elon Musk, when he started Tesla, he was pretty sure the company would fail and go out of business, he just wanted to change how people saw electric cars. Now look at both companies!

Just like money, your one word is a tool, and the outcome of the use of it is all up to the user of the tool.

Another part of the Core section explains why a single word is so important. It’s important because clarity leads to conviction. Let me explain.

If you have a single word that describes what you want to accomplish in your life, you can simply pass every decision through it and ask yourself “is this supporting or failing my one word”? So it helps you make better decisions, and faster too! It keeps your eye on the long game. It can also help you stay motivated. If you know you are in it to change the world, relying on your One Word should motivate you.

So, how can we find our one word. Evan offers 5 questions.

How to Find your One Word

  1. What makes you happy?
  2. What connects your happiness?
  3. What traits do you hate?
  4. What’s your constant?
  5. Is this really who you are?

He asks you to write down a huge list of things that make you happy, and to really think about it. To save you some time, I’ll skip to the next question, which is to find what connects all these things. For me, it is understanding. Understanding stuff helps make me happy, along with learning and teaching. The answer to the third question for me, is ignorance, I hate it when people don’t know stuff, or don’t have the access to further their education; ESPECIALLY when they have the drive and want to. Find out what traits you hate, and find the opposite.

The second part of the equation is Campaign. So this chapter is filled with tons of examples of how people have used their one word in the past to create a successful business in the past. I love historical examples and the research Evan did is outstanding. There are some technical and practical stuff in there I’d love to teach you about though.

One thing I resonated with is not to overthink or overspend on a logo. I spent 30 minutes designing the Practical Psychology logo and spent $25 for a designer to create it professionally. The logo isn’t as important as what the logo stands for, or well, what you make it stand for.

There are a couple more tips the author gives on creating a successful campaign.

Best Psychological Business Startup Tips

  1. Name your tribe. Give your audience a name, to make them feel special and connected. The Hunger Game fans call themselves tributes. The same with Evan’s audience, they are #BelieveNation. I tried branding my audience as Practitioners, but I’m not too sure. Charisma on Command is trying to brand his audience, and he even joked in a video calling his fans COCfighters. Just think of Logang and Jake Paulers.
  2. Use Rituals and Gestures. Evan uses the famous story of Corona and how they used lime wedges to brand their product. Another example of a ritual is toothpastes. Toothpaste used to never have a flavor, can you imagine that? Nobody wanted to use it; until they added citric acid, which added a sparkly clean feeling to the user after they brushed. Sales went through the roof. Also think of how Jake Paul always dabs on his haters or something like that. I only know because my little brother does this, don’t judge.
  3. Logos, Fonts, and Symbols. Use a combination of similar logos, fonts and symbols to brand your content to your audience. There are many psychological reasons to think deeply about these things and how it will boost overall performance; I may make a video about this later.
  4. Colors. Colors are important. They have meaning.
    1. Red means Danger, passion, love, boldness. Examples are Youtube and Rolling Stones
    2. Black means power and elegance. Examples are Nike and Apple
    3. Blue is Dependability, intelligence and wisdom. Examples are Facebook and Practical Psychology. Yeah, I did do that on purpose!
    4. Orange is happiness and creativity. Examples are Firefox and Nickelodeon.
    5. Green is Growth and nature. Examples are John Deere and Starbucks.
    6. Purple is royalty and luxury. Examples are Barbie and Cadbury.
    7. Yellow is joy and happiness. Examples are Ferrari and National Geographic, but Evan also included Ikea for some reason.
  5. Sounds. Think of how my early videos have that famous background music, and how I’m starting to use them again. Remember the Window’s loading sound, or the Intel Inside commercial? Evan’s videos always have a sonic boom type thing. One of my favorite Youtubers starts off his videos by saying “Good Day Subscribers”.

The last part of the book is Company. Evan talks a lot about building the proper culture and environment of a company that boasts your one word. He gives tips on how to hire people in your business, and how to fire people in your business (even if you like them). Another trick he mentions is to give a name to your employees; for example, Starbucks employees are called baristas. He also gives some tips how to get more funds and raising capital from venture investors. My last tip of this book is when you are pitching to a potential investor, you have to know that you are not just pitching your idea or business. You are actually pitching yourself, the investor isn’t just investing in your business, they are investing in you, and they know the difference between a good executor and a bad executor, both with a great idea, can cost millions of dollars.

I hope you guys enjoyed this book review, if you’re interested in the book, check out the Amazon link below. If you’re interested in listening to this book for free, check out the link below for a free trial at Audible. Leave a comment of what you think your one word is and thanks so much for watching!

cash money bills

Basic Money Management Tips – Personal Finance for Beginners

Money management is one of those things that everyone’s got to learn as they approach adulthood. As you start making money and are getting ready to live on your own and pay for your own life, you’ll need to know how to organize your finances so you’re sure you can actually afford everything you’re spending money on. Some people don’t learn how to effectively manage their money until later in life when they’re forced to face the fact that they’re in debt. In any case, it’s always a good time to learn some basic money management tips.


Establish a budget for yourself.

One of the biggest things when it comes to managing your money is creating a budget. Maybe it sounds like a lot of work to sit down and write out all your expenses and shift your money around, and it can definitely take some time to do—but it’s so worth doing. Recording everything you spend in a week or in a month can be eye opening and lets you see exactly where your money is going. Then, when you take into account your take home pay, you can better prevent yourself from unnecessarily going into debt and you’ll know how much money you can afford to put into savings. If you’re not currently in debt, organizing your money will help you to keep a good credit rating so you’re more likely to be approved for a loan or mortgage in the future. Not to mention that it’s comforting to see your money laid out so you know that you’ve organized everything and that you won’t come up short for your regular bills. The time it takes to create a budget is well worth how much the budget will serve you.


Record what you spend now.

So get started by recording how much you spend monthly. You can do this all at once if you have receipts handy, or you can record your spending over the course of the month. You can also record your weekly spending, which can be helpful for costs like groceries that are more frequent and varied. Write out different categories for your expenses—like rent, groceries, phone bill, and so on—and put what you spent next to it. Using a spreadsheet is great for keeping everything orderly and for quick calculations, but doing it on paper works fine too. Add up everything you spent and compare it to your monthly earnings. How’s your spending? Are you spending over your means, or are you spending within them? Now that you know where your money is going, you can make some adjustments if needed. You can see where you’re spending money unnecessarily and where you can allow yourself some more flexibility.


Decide where you want to make changes.

So what changes do you want to make to your budget? Many experts recommend going by the 50/30/20 rule: use 50% of your take-home pay for essentials like rent and food, 30% for discretionary spending like social activities and non-essential purchases, and 20% should be put into your savings. However, these numbers aren’t necessarily right for everyone. If you’re a high-earner, you might put more than 20% of your income into savings each month, and if you’re a low-earner, you may not be able to afford even 10%. If the amount of money you’re spending and the amount you’re making are similar, your focus should be finding areas to make changes so that you might be able to put some away each month or so that you can pay some of your debts if you have them.


What should you change if you’re just getting by?

If right now you’re making just enough to cover your bills and to live on in relative comfort but you run out of money by the end of the month and don’t have anything left to save, you should try to shift the numbers in your budget so that you can contribute to your savings. It’s always smart to have something put away because you never know when an unexpected expense could come up. Your car might break down, your pet might get sick, or you might have a fire in your home. Any of these situations could be expensive and if you don’t have anything in your savings, your only choice will be to rack up debt. So start looking for somewhere you can create a little wiggle room. The best places will be anywhere that your costs are flexible or non-essential. For example, if you’re going out for drinks with friends a couple times a week, cut back; if you buy lunch every weekday, start packing one instead. If you want to save more, you can downgrade your cell phone plan or cable plan. Maybe you can cut back on the data and use wi-fi instead or get rid of your cable entirely and switch to a much cheaper online streaming service. They’re sacrifices, sure, but it doesn’t have to be forever. It can be worth it to be able to have the security of some extra money in your savings account. Even just putting $20 in every month will slowly add up over time. Do what you can.


What should you change if you’re in debt?

If you’re in debt and are only making enough to cover your monthly expenses, your situation is a bit different and you’ve got some decisions to make. First, you should still go through your budget and look for that wiggle room so you have a bit left over from your take-home pay, but where it goes will be something that deserves careful consideration—do you put it in savings or put it toward paying off your debt? It’s really up to you, since both are good options, but there are some details that can determine which is better for you right now. Like interest—what’s the interest rate on your debt? If it’s high, it’s a good idea to focus on paying it off before worrying about your savings. If you keep adding to your savings but your debt is continuously growing—and quickly—the money you’ve put away won’t mean much. On the other hand, if your debt is fairly small and the interest is relatively low, it might be worth your while to work on building your savings for a little while and then switching your focus to your debt later.


Decide how to approach paying off your debts.

And what if you have more than one debt? You can have debt in different places, most commonly from student loans, credit cards, and medical expenses, depending on where you live. If you have a good chunk of money available at the end of each month to put toward debt, one option is to split and pay a bit into each or a few of your debts. But if you only have enough available to make paying into one worth doing, you’ll have to make a choice. Again, consider the interest rates; one way to choose is by going with whichever has the highest interest rate so that you’re not letting it grow substantially while paying off other debts. Handling that one first is a smart way to go. You could also choose to pay off whichever is the smallest debt first, and then the next smallest, and so on. This way you can eliminate one of your debts more quickly and work toward having debts in fewer places. It’s ultimately your choice how you want to tackle your debts, but these suggestions can help you choose the method that you think is best for your particular situation.


Prevent new debt from accumulating.

It’s hard to prevent certain debts; student loans can be inevitable if you want to go to school and medical debts are unavoidable if you get sick or injured and live in a country that requires you to pay for your treatment. But you can avoid credit card debt. When you go through your budget and determine what you have available for non-essential purchases, take that full amount out of your bank account in cash. You might not have it all at once if you get paid weekly or bi-weekly, but you can split it up and take out the amount available then. This way, you can see exactly what you have to spend. Using debit can cause you to lose track of your spending if you’re not careful and there’s the same problem with using a credit card, except that you’re creating debt with it. You don’t have to keep the full amount on you at all times; divide it up and spend only as much as you have with you. It’s much easier to think twice about your purchases when you can physically see how much money you have to spend—and it’s a good way to remind yourself how much you have left.


Money can be a source of stress for many people, but learning how to manage your money can alleviate it and make your life easier. Each person’s finances are unique so you’ll have to look at your personal expenses to figure out what’s right for you, but with these basics in mind, you’re in a good place to start managing your money more effectively.

How to Make Money Online

How to Make Money Online – 16 Methods to Earn Online Income in 2018

In this article, you’ll learn how to make money online using the same methods I’ve used to create passive income in the past 3 years, but work great in 2018. I have two main goals with this video (technically an article, but check out the video too!). The first one is to educate and motivate you to learn how to make money online in 2018. The second is to beat Improvement Pills video on the same topic. Hopefully, by accomplishing the first goal, by educating and motivating you, and adding immense value throughout this video, it will lead me to my second goal. For some reason, I’m really competitive.

The first half of this video will be about active income. Active income is basically exchanging your own time for money. The last half of this video will be about passive income online, which basically means that it requires a little bit of initial startup time, and resources, but very, very little upkeep, once you’ve set it up.

At the very end of this, I’m gonna give you my three recommendations for a beginner, what I would have told myself a long time ago, if I was starting to try to earn money online. Feel free to sit back and learn. You can even minimize this video if you like. Anyways, here we go.

Amazon MTurk

If you’ve never heard of Amazon MTurk before, what it stands for is Amazon Mechanical Turk. It’s basically a marketplace hosted by Amazon, to do things that robots can’t do, that they have to have humans to do. They outsource it to people who want to make money online by spending their time doing tasks that are usually pretty easy. They outsource it to people with extra time, who wanna earn a little extra money.

There are all kinds of tasks on this website. Anywhere from searching data, to data entry, to transcribing, which transcribing means watching and listening to a video, or audio file, and then typing it. You can actually make 15 to 30 dollars an hour, if you know how to do this correctly. If you know more than one language, you can actually make money on this website by translating stuff.

Now, I’ve personally done this and I earned around 40 to 50 dollars. I didn’t put much work into it. My friend, he worked a full time job and he actually did this on the side. He did it for a couple months, and actually earned more than … I think it was like 350 dollars each month. So, they are real. They do pay out. You just have to put the time into it.

Retail Arbitrage: Ebay + Craigslist + Dollar Store

Another way to money online is by eBay. You can combine eBay, Craigslist … You can even go to the dollar store, Facebook marketplace, and basically what you do is, you become an entrepreneur buying low and selling high. You know, you go to your local dollar store and you find this little trinket, “Oh that looks cool. I wonder what it costs on eBay.”

You look it up on eBay, and you can sell it for 20 more dollars. Maybe it’s a super soaker water gun. You buy it at the dollar store for three dollars. You sell it on eBay for 23. Boom. 20 dollars right there. It probably doesn’t even take you an hour worth of your time. Anyway, so there are all kinds of marketplaces out there. If you learn how to leverage them, what sells best where? You can make a ton of money flipping stuff.

Number three is surveys. Now, surveys are kind of a pain in the butt, especially because you start getting some spam in the mail, but you can make a ton of money on this. There’s places out there, like Swag Bucks, which I’ll talk about later. Inbox Dollars, My points. There’s all kinds of places you sign up to, you take daily surveys, and you make money. Now, it’s not gonna be a substantial amount, like thousands of dollars a month, but if you have a grocery bill, or rent, or some other type of expense that you need to get taken care of that month, and you have some extra time, it’s a great way to fill that gap.

SwagBucks: Earn money from Searching

Now, onto Swag bucks. Swag bucks is pretty cool, because you can literally get paid by searching stuff. I did this probably a couple years ago, and I’ve been doing it every now and then, in my free time … You can earn a lot of extra money doing this. Basically, instead of going to Google, you use Swag bucks custom search engine, which you can set it to Google. You search stuff like, how to tie a tie, and then every once in a while, they’ll give you a reward for using their search engines. Now, there are tons of other ways to earn money on Swag bucks. You can actually shop. If you’re gonna shop on Amazon, and you shop through them, they will actually pay you a percentage of money, for doing that. You can watch videos that they have, basically like watching advertisements, other companies. You can play games, enter surveys. There’s all kinds of ways to make money on this, and they do pay. I have been paid by this company. Usually they just pay you by gift cards, which isn’t that bad.

Instagram Shoutouts

After Swag bucks, is Instagram Shoutouts. Now, Instagram Shoutouts is really cool, but it does take a little bit of time to build up. You have to have an initial following. Now, it’s really cool, because initially if you want to get a whole bunch of followers, you can go through, follow 100 people and then unfollow that 100 people, and you’ll usually have a net gain of like, 10 to 50 new followers. If you do that over time, maybe 1000 times in one month, or a couple months, eventually you’ll start to gain followers, and if you need to you can actually buy them.

After you have that initial following, you can actually sell Shoutouts. If you haven’t followed me on Instagram yet, follow me @practical_pysch. There’s some awesome updates on there that I can’t share on YouTube, that I share on my Instagram. Anyways, when I get up to around 200,000, maybe even half a million, I can start asking people to pay me, so that I can shout them out. I have a friend who does this. He has around two million Instagram followers. You might think, “Holy Moley. That’s a lot of followers to get. I don’t think I can ever do that.” Well, he said the same thing around two years ago. Now he makes around five to 6,000 dollars a month, just by doing Shoutouts. He’s easily made his money back

Upwork Freelancer

The next way to make money online, is by freelance jobs. Now, one of the best marketplaces for freelance work, is Upwork. This is actually what I use for all kinds of other stuff. If you’re a video editor, if you’re a graphic designer, even if you just wanna like, literally play a video game, or test a website, people will pay you to do this. Also, if you’re ever in need of a virtual assistant, Upwork is a great place to go. Personally, I use Upwork to hire occasional article writers, video editors, and even to do some graphic design work that I don’t feel comfortable doing myself. You can sign up to Upwork as a freelancer, which means, when someone posts a job, you can do it. Boom. There’s 60 bucks in your pocket for designing a background, or boom, there’s a 100 dollars in your pocket for editing a six minute video.

Fiverr and Seoclerks

Now, another usually cheaper marketplace is Fiverr. Now Fiverr’s really cool, because there’s a lot more people that do it, usually because the stuff is cheaper. You can make money by selling your services. You can do SEO work. You can do video editing, graphic design, even website feedback if you’re comfortable doing that. You can sell your own services. There’s another way to make money with Fiverr that not very many people know about. If they do know about it, they’re usually raking in a ton of cash. That is, to buy services from Fiverr, for five dollars, 10 dollars, and then sell them to business, who don’t know how to get the same services that cheap, for maybe 100 dollars, 200 dollars.

I’ve literally seen some guy go to a company, say, “Hey. I’ll make you a logo for 500 dollars.” Then he takes that and he goes and pays Fiverr 10 dollars. He gets a great logo, and he just made over 400 dollars profit, for a weekends worth of work. It’s crazy. Once you learn how to do this, you can scale it and make all kinds of money. Fiverr arbitrage is almost saturated, so learning how to diversify your online income is definitely recommended.

How to make passive income online

Now, let’s talk a little bit about passive income. Now, if you don’t anything about passive income, I highly encourage you to buy my eBook, in the link below. It’s called, Passive Income Tutorial. It goes through all kinds of mistakes that I’ve made in the past, and what I’ve done in the past that has made me successful. In fact, one month I actually earned 15,000 dollars. A couple months later I actually didn’t do any work for a solid month. I literally read books all month. I didn’t do anything online and I earned 4,000 dollars.

If you watch all the way through this video, there will be a video on the end screen showing that proof. The reason I did that, was as a testimonial to say, “I know how to make passive income online. You can buy this eBook, if you wanna learn how.” There are a ton of people out there, who say they can make money online, but the only way that they make money online, is buy selling other people the dream that they can make money online too. I have actually done that by building a business, by gaining an audience and selling them stuff.

Selling Digital Photos

Anyways, the first way you can make passive income online is by selling photos. There are all kinds of websites out there that will pay you a percentage of how much money they earn from selling your photo. Stuff like Smug mug, Pro, Shutter stock, iStock photo. If you’ve ever tried to buy a photo, you’ll realize, “Wow, that was 100 dollars for one photo.”

Well, that’s because Shutter stock pays a percentage of that money to the person that took that photo. You can do the same. You can take one photo, and then sell it on Shutter stock, and who knows, someone might buy that every day, and you’ll get 50 bucks. That’s 50 bucks a day, that you don’t have to do anymore work. That’s the glory of passive income. This is one of the best white hat ways to make passive money online, but is very time consuming.


The second way that I’ve learned to make passive income online, is through ClickBank. Now, ClickBank is a marketplace basically of other people’s products. Affiliate Marketing with Clickbank is quite reliable if you set up systems and processes. The cool thing about this is, is that you get a sell someone else’s product. It’s basically affiliate marketing. I’ll talk a little bit about that in the future. On ClickBank personally there are only two products that I highly encourage someone to buy, because I have bought them before, and they’re super easy to sell. The first one is K Money Mastery, and the second is Video Breakthrough Academy. Video Breakthrough Academy was actually created by one of my You Tuber friends. There are a ton of black hat courses out there, but Clickbank has a vetting process to make sure the product you’re selling are top notch.

Anyways, what you do is, you make a whole bunch of content, and then you lead people to your affiliate link. Whenever someone clicks on that affiliate link, you get a percentage of the sale. For example, Video Breakthrough Academy … Every time I sell one of those, I get half of whatever someone pays for the product. If they pay 300 dollars for that, I will earn 150 dollars. Some people make over 60,000, 80,000. There are even some people who earn over half a million dollars online, through selling other people’s product.

Amazon Affiliates

The third coolest way to make passive income online is through Amazon Affiliates. Now, the way Amazon Affiliates work, is that you put a link in your description of your YouTube channel, or your blog, or some other website that you have, and what happens is, whenever someone clicks on that link, boom. They get a cookie on their browser, which means any product they buy on Amazon for the next 24 hours, you get a percentage of. One example of this is that, on my YouTube channel, I sell books. I create book reviews, and then I sell books in the affiliate link in the description.

Someone actually clicked on one of those links, and then went and bought a 1,000 dollar camera. Now, I personally did not sell that 1,000 dollar camera, but what happened was, Amazon wanted to reward me for directing the person to Amazon. They actually gave me 50 bucks for that sale. I wasn’t even selling a camera. That was something that is really cool that a lot of people can do. Usually, the more clicks you can get on your Amazon affiliate links, the more money you will earn, even if it’s not selling your product.

Now, one guy I know, who has earned a ton on this, and has all kinds of experience, his name is Luqman Khan. He has a website that literally sells just wireless routers. He has documented that he has earned over 40,000 dollars in one month, from Amazon affiliate earnings. Now, I mentioned earlier that I actually have an eBook. That’s a whole different way that you can make passive income, is by selling Kindle eBooks. Now, Kindle eBooks are really easy to create.

Some people think that it’s just really hard to make ’em, so they don’t get into them. I bought and went through the K Money Master course, which I’ll link in the description below, and it teaches you how to create a Kindle eBook, how to market your Kindle eBook, how to do little tips and tricks on the Kindle store, so that it does well in selling. I did that before I created my Passive Income Tutorial eBook. It did amazingly well. I’ve earned like six, or 700 dollars in the first couple months.

Kindle Ebooks

The trick with making money on Kindle is not that you have one book that makes you a 1,000 dollars a month. It’s having 100 books, that makes you a dollar a day. That adds up, and over time your investments start to return on themselves, and you have 100 eBooks, maybe making between one and two sales a day, earning you 100 to 200 dollars a day, and that adds up over time.

If you’re interested in that, I highly recommend going and checking out K Money Mastery. You can do something that Improvement Pill recommended, which is to buy the product, and then go through the course, learn everything and then if you need to, for some reason, you need that money back, you can ask for a refund, because there is a 30 day refund on that product.

You can get that money back, and then you can start creating your Kindle courses, and then when you start earning your money back, you know, it’s a respect thing. It’s a moral thing. You should buy the product again, so the guy gets his money. Creating kindle ebooks to sell on Amazon is something most people don’t understand. You can actually make money online by selling a book that has under 3,000 words and it’s easier than most people assume.

Selling Digital Files

The next way to make passive income online is by selling digital files. Now, one of the best sites that I’ve found to do this, is Usually, they take a commission of whatever you sell. It’s two to five percent I think. You can create a small, little course, or you can have website templates, or you can have your own word press themes, and sell it on this website, drive traffic to that, and then eventually you’ll make money.

Selling Online Courses

Another way to make money by selling stuff, is signing up for Udemy, and teaching a course. I’ve heard by some specific people that Udemy kind of sucks, because they’ll gyp you out of money, because they’ll take your 300 dollar course, and then put it on sale for 10 dollars, so that they can get more users on their website. That’s kind of black hat, kind of ripping off creators. What I recommend doing is going to Teachable, for me personally, I think it’s way better that Udemy. It’s actually what I’m going to be making my own personal courses on. I’m almost finished with a habit course, and I’m working on some ideas on social skills, money management, and the psychology of your thought, those course.

I have actually created two different online courses, and they’re still earning me passive income online. The first, Habit Harvester is being sold as an Ebook on Amazon, but I also animated all of the chapters and put them on Youtube. My most recent course is the Psychology of Attraction, where I teach guys how to find, get, and keep the girl of their dreams using psychology to increase their attractiveness and confidence. This is personally one of my favorite money making tricks because I gave away free information, but it’s all monetized, from Youtube ads to Kindle Publishing.

If for some reason, you’re interested in those course, and you want a coupon on them, whenever they come out, I guarantee you, you will have a coupon, you will get a better price than everyone else, if you go to and put your little email in that newsletter thing. Whenever I launch that course, I will launch it with a coupon code, so that you’ll get it at cheaper version.

Start a Membership Website

So, onto a membership website. This is essentially what I was going to do with practicalpie. I was gonna say, “All right everyone. 30 dollars a month. You get signed up through my membership site. You’ll get all kinds of information that I’ve learned, I’ve regurgitated from books, everything I’ve learned from business, psychology, relationships.” Those kinds of membership sites take a lot of upkeep and I didn’t want to do that on my own, so I outsourced it to teachable. Whenever I launch my course, that’s what I’m going to use, is Teachable, instead of my own membership website, so that I don’t have to deal with the coding and the back end stuff.

Earn Money with a Youtube Channel

The last way that I’m going to mention how you can make money online is by building a YouTube channel. Now, when you build a YouTube channel, you can make a lot of money with ad revenue, but it takes a ton of views. You can actually make way more money, if you sell stuff in the description. You might get 10,000 views, and that might earn you 20 dollars, but if you get 10,000 views and 10 percent of those people buy a 300 dollar course of yours, that’s gonna earn way more money than the video ever will. When you build a YouTube channel, you have got to be passionate. I cannot stress this enough, because there are tons of people, who get into YouTube, and will make a couple videos, and then fall out, because they’re not passionate about it. Then they just give up.

For me, I wanna tell you guys personally, it took 98 videos for my channel to hit that big golden star, and to go boom. YouTube likes this channel, It’s gonna start promoting it. One of my videos got into recommended I learned. After creating 98 videos, I got really good at how to create titles, how to make your thumbnails, and how to make sure that the viewer was engaged. Learned how to do all that through 98 videos.

Now, for some reason, if you want to skip making 97 videos, and you wanna have all of that experience on your own, you can actually go and check out the Video Breakthrough Academy. It’s actually created by one of my friends. I’ve went through the course, and I was like, “Man. I wish I could have learned this stuff back when I was starting my YouTube channel, so that I didn’t have to learn it all myself.” Actually, going through his course, I learned even more, and it was really helpful. There’s a lot of black hat creators out there that do stupid stuff like buying views, trading likes, and creating extra accounts to get subscribers, but it’s worth it to stick to the rules and let the algorithm pick up your content.

If for some reason you guys want to check that out, I’ll put a link to that in the description below. It’s called, Video breakthrough Academy. There is some amazing value in there. He goes over how to make more money on YouTube videos. He goes over how to do collaborations correctly. He goes over, how to record a video, how to script the video, a whole bunch of little tips, and tricks for engagement. Anyways, that is one of the best tools that I would suggest, so that you can learn how to make money online quicker.

So, we’ve went over about eight active income tips, which is MTurks, eBay, Surveys, Swag bucks, Instagram Shoutouts, freelance work, freelance work on Fiverr, and then actually selling Fiverr products to higher businesses. And then we also went over eight passive income strategies. And that is, to sell photos online, utilize ClickBank and affiliate sales, Amazon affiliate sales, selling Kindle eBooks, selling digital files on Sellphi, using Udemy, or Teachable to create an online course, creating your own membership website, and building a YouTube channel.

My Recommendations to earn money online

Now, I’m going to give you my three recommendations for any beginners, who want to learn to make money online. The first is, to buy the K Money Mastery program. Ask for a refund, and then buy it again later, after you’ve made your money back. You can learn as much as you want, but premium stuff will always contain value. Sometimes, just paying that initial cost of buying the K Money Mastery program, will motivate you to work harder, and become successful, so that you can actually earn your money back. It’s a great course. That would be my first recommendation for a beginner, who wanted to learn to make money online. As its been said in the past, you gotta spend money to make money. This course really doesn’t cost that much, for how much you’re going to be getting out of it.

My second recommendation is to sign up for Fiverr. Offer whatever skills you have. Now, there are a ton of tutorials on this. If, for some reason you don’t have a skill, you can start watching YouTube videos. Learn Photoshop. Learn after effects. Learn how to code a website. Learn how to create a beautiful user interface. Whatever you can do to offer the world value. Then, sell that value on Fiverr. You make most of your money on Fiverr, not by selling a five dollar product, but by the upsells, selling more expensive upgrades.

My last recommendation for beginners is to buy my eBook in the link below. Now, of course I will be earning money on this, but hopefully I’ve added enough value in the eBook that you will earn way more money back. The first third of the eBook, is actually going through my mistakes, and what kind of mistakes you guys can skip in the future, so that you can make money online quicker. Basically it’ll help you jumpstart your online income career, if that’s what you wanna do. If you think this video has given you any value, just go ahead and buy the eBook, and you’ll be completely blown away. Like I said earlier, there was one month where I literally did nothing, but read books, but I still earned around 4,000 dollars that month. I did that to prove that I could earn passive income. I hope you guys enjoyed this video. I hope you got insane value out of it. If you did, share this video with your friends. Click the like button, and subscribe if you want more.

How to make passive income online

How to Make Passive Income Online – Passive Income Ideas and Methods

What is passive income? For this video, we mean a cash flow that gets deposited into your bank account, PayPal, or check, that you get every month, or week, or whatever, without having to do much after you set up the system. This article is going to be basically everything I teach in my Passive Income video on my Youtube channel.

You have to understand that it’s not a, “Sign up here and get $500 into your account every month.” It’s a, “Put the work in now by leveraging your time, knowledge, and resources, to earn freedom later.” For example, I spent probably an entire day working on the most viewed video on my channel. That video has earned me over $10,000 since it was posted. So, you could say I made my time worth around $1,000 an hour, and each day that number goes up. Watch this video for a better explanation:

There are many reasons to search and work for passive income, but most of it is for freedom in the future. The point I’m trying to get across is that, you’re going to have to put in at least some work in the beginning.

To put it in perspective, I earned roughly a quarter an hour of my time for the first eight months of Practical Psychology. But last month I didn’t work at all, and I still got a paycheck. I’ll show you how much I earned later on in the video.

You must understand the major different between two types of content. The first is called ‘skyscraper’, and that is because the traffic, the interest, and also the money graph, look like a skyscraper. A whole bunch of views, and traffic, and money for a couple days, and then it dies down to just a couple pennies.

An example of skyscraper content would be the presidential inauguration in 2017. It’s not going to be something someone is searching for 30 to 40 years from now, as much as they’re going to be searching how to get more Instagram followers; how to make more money; how do mosquitoes mate? People will be asking questions like that for ages.

The second type of content is called ‘evergreen’, and just like the tree, it stays fresh and valuable all year long. For example, my How to Get More YouTube Subscribers videos will get views, and add value to lives, for at least the next five years. While my friend’s video of him doing a rare bottle flip, won’t. Just like the Harlem shake died down, so will bottle flips, and the next trends.

You can make money with these kinds of trends, but you have to be able to predict them. The downside is, the income won’t be sustainable, it’ll be a lump sum.

Evergreen content, on the other hand, brings you in money every day, every week, every year, for the rest of your life. I’ll talk a little bit on how to create evergreen content in a minute, but if you want to know everything I know about it, check out my eBook on Amazon.

I recently wrote a Kindle eBook, and published it on Amazon. The first chapter is my failures and successes. Everything I’ve learned since I’ve tried to make money online, from the young age of 13 years old. My failed websites, and the traits of the ones that were successful. Also what I learned from my first profitable YouTube channel … it still earns me $60 month. And how I scaled it up to this channel.

You’ll also learn how much I make through different ad platforms and affiliate services, and how I got free stuff by emailing companies about influencer marketing. I’ll be telling you my numbers from different companies, and show you how you can do the same.

In this eBook, you’ll also learn about my YouTube algorithm hacks. I’ll give you a short version of the best in a couple of minutes, but I have a video dedicated to that in the playlist.

Here’s how to get the eBook. Go to Amazon and search Passive Income, and find this eBook. It’s written by a Practical Psychology, so that’s how you know it’s mine.

To add to the merit of what I’ve earned, I want to prove that I’ve earned over $4,000 in March, and got over 60,000 subscribers, and I didn’t do anything to the channel. In reality, I was working really hard to have more uploads in April. But in March, I didn’t upload a single video, I hardly replied to any of the comments. I did read them, but I didn’t really do much input, and my output stayed the same.

Like is said, in reality I was working hard to have more uploads in April, but I easily could have been on a beach in Rio, like Charley from Charisma on Command.

Another thing I want to talk about is This is website where the creator, his name is Luqman Khan, created an Amazon affiliate site, and has earned over $5,000 in the first four months, and over $40,000 in eight months. I figured I’d share his story here with you guys, and show what’s actually possible.

The website is a list website, where people search for terms like ‘best wireless router’ or ‘best wireless router 2017′ and click on his site. Then when they click on his site, they get a picture of a whole bunch of different routers, and when they click on that picture, they’re sent to the Amazon website. Basically, he is an affiliate marketer. The trick here is to get your website to the top of search engines for high volume search terms like best wireless router. You know how many people search that a year? How many people search that a day? I bet he gets tons of traffic.

This is where my analytical nature gets kind of horny and I have to sort through a whole bunch of data to find how I can simplify it, and tell you guys what you need to know. Basically, he wrote articles that were at least 3, 4, 5,000 words long, so it’s super long content, along with getting amazing back links from high authority websites, and educational websites. He actually hosted a $1,000 scholarship, and sent an email to a ton of universities and colleges to get a lot of .edu … which stands for educational … websites to link to his scholarship page, which was hosted on his 10Beasts page.

Google loves it when an educational website links to your site. Eventually his website was viewed as very valuable in Google’s eyes. This scholarship method was a great idea, along with getting bank links from Buzzfeed, Lifehack, and

Try to post content that is super long, and has references from other websites. That will get you to the top of search engines. But that’s not all, Google also likes it when users stay on a website. Do they stay for 30 seconds, or do they read the full article for eight minutes? They also love it when a user shares an article or page. Facebook, Twitter, Google+, Pinterest pins, all of these are trackable, and Google uses them.

In the eBook I wrote, I will teach you how to set up a simple WordPress website, along with a few more SEO tips and tricks to boost your rankings.

Another person in the passive income field to look up to is Pat Flynn, with his smart passive income website. Through a whole bunch of his channels and stuff that he does, websites, audiobooks, podcasts, he has made over $103,000 in February 2017. He documented most of it with his niche and authority websites. He knows a ton about SEO and affiliate marketing, and actually has a website and podcast dedicated to teaching you.

I’m not going to talk much more about this. You can go to him, or there’s other websites you can go out to. There’s actually an interview with him in the playlist. I recommend watching it to learn some of the stuff that he has to teach.

Anyway, we’ve been on this topic for too long, so let’s talk a little bit about YouTube. I’m going to give you some of the best YouTube tips I currently know, without wasting much of your time. If you want to know everything I know, go watch the over 10 minute long algorithm video in the playlist, that I made. Or read the detailed chapter in my eBook.

The first tip is to make better titles and thumbnails. Make them actually want to be clicked on. Take a look at these two channels. Which one would you watch more of? If you have to, split test some thumbnails and titles with your friends. Show them two or three pictures, or two or three titles, and say, “Which one would you click on first?”

Eventually you’ll get the hang of creating clickbait images, that are still relevant. Clickbait is okay, you have to create a thumbnail that grabs attention in this super noisy world. What’s not okay is misleading people. Understand the difference, and execute.

Another tip is, watch length is better than percentage. It took me a while to learn this, but let’s say I have two YouTube videos. The first one is five minutes long, and the other is 50 minutes long. Which one does YouTube like better?

It really depends on how much the average person watches. If the first person watches an average of five minutes, leading to a total of 100% of the video viewed. It will not do as well as the second video, where the average viewer watches an average of 10 minutes, even though the percentage of the video watched is only 20%. The second video held a viewer’s attention for twice the time, and that’s what YouTube really cares about. It’s the total time, not the percentage.

Another little tip I recently found out, is to send them to a great channel, you’ll know that they will binge watch and subscribe. Your video will get the points for this, but it also will not get a session end penalty. One of my best videos earned over 3,000,000 views in a week, simply because I recommended people to go watch Improvement Pill, and other videos on his channel.

This guy has some amazing content, he just didn’t have an audience. What I did is, I sent people to his channel, they binge watched a whole bunch of his videos, subscribed. In YouTube’s eyes, that video, the one that I sent them from, looked like a very profitable video, so they promoted it, and recommend it. To learn more about this, and session penalties, check out Derrel Eves’ hour long video on Channel Growth in the playlist.

Also, I recently found out you can make semi-passive income through Instagram. Just get up to around 100,000 followers, and then you can do shout outs for other people, and they will pay you. Each shout out could be from $5 to $100, some people do $500 shout outs. Actually, a friend of mine does over $5,000 each month, just by managing an account that has over 1.5 million followers.

At first that might seem like a lot of people, like, “Wow. One and a half million people?” But for a college student, $5,000 is a lot of money, and it’s worth the initial time. He actually did this in under a year. He started by spending some money on other accounts, asking them to give him a shout out. Eventually he had enough of his own following, that he started returning the favors. He started getting money to give people shout outs.

Every once in a while he’ll give me a shout out, because I help him with some of his YouTube videos. Every time he shouts me out he gives me a little, “Hey. Go check out this guy’s profile. It’s pretty cool.” I get at least 500 new Instagram followers. Shout outs are the way to gain followers, and to make money.

Improvement Pill actually had an interview with this guy, and his process. I’ll put that in the playlist also.

Now we’re on to the list of 10 income generating asset ideas that you can set up now, for a steady cash flow in the future. Keep in mind, all of these are basic ideas, and you have to add your own twists to them to make them stand out. For most of these, it will help if you already have a following, a group of people who are dedicated to the content that you make.

I explain how to do this in the eBook. The last two chapters are How to Get a Following, and How to Monetize a Following. Either way, as long as you are creating evergreen content that is worth reading, watching, or signing up, you will grow your following.

The first one is affiliate marketing. This would be like Amazon, Clickbank, Commission Junction, there’s a whole bunch of them out there. Basically, you send someone somewhere else to pay for something. You get a commission of that, from 3% to 7%, I’ve seen all the way up to 80%. It’s pretty easy, you just have to recommend great products, that will sell themselves. That’s the trick.

Number 2 is digital products. I experimented a little bit with this on Sellfy. You can actually make money by selling high quality backgrounds, templates, songs. Some people are actually willing to pay $20 to get my background music. Isn’t that pretty awesome? If I could do that 100 times, there’s two grand right there.

Number 3 is YouTube views. YouTube views takes a little bit to set up, and their algorithm is a little … You have to understand it for this to work. But there will always be that knowledge curve, in order to make passive income. You have to know a little bit about the situation that you’re going to be putting yourself in.

For YouTube, you could into gaming. For evergreen content on gaming, people don’t watch gaming for the games. For evergreen content, they watch for the personality of the guy that is playing the game, or girl, that is playing the games.

Other YouTube videos would be how to videos. These are usually evergreen. How to replace a tire on this car; how to change the oil; how to tie a tie. Also, makeup is pretty evergreen.  Most of these are also, already saturated. You have to find a niche that is not already saturated, and fill that. Fill that gap where people are searching for stuff, but there isn’t much content.

Idea number four is website ad revenue. You could set up a WordPress website. I explain how to in the eBook. Fill it with banner ads, or ad sends, or affiliate links.

Number five is eBooks, that you can sell on Kindle. I’m actually going to report how much I have earned from this eBook in the future. If you want to give back to me for any of the videos that have ever been helpful to you, I recommend to buy this eBook. This is the best way that you can give back to me.

And leave a review. I am super interested in the review of something that I have written. I have never written an eBook like this before, and I would love reviews. They help me out so much, know where I can improve, what I shouldn’t do, and where I can go from the future, to make better content for you guys.

Number six is Instagram shout outs. We mentioned this before, and there’s actually a lot more to it, so I recommend you watching that video in the playlist.

Number seven is a social media agency. This is semi-passive, because you still have to produce content for other companies. Basically you do Facebook ads for local companies, as long as you know how to do it right.

You can become a Tai Lopez minion, and sign up for his course. A lot of people dog on him, he really does have a lot of great advice, just not everyone will be able to become a social media agency gazillionaire.

Number eight is subscription box service. This one is a little bit … You have to take some time to set it up. You will have to hire people, or set up drop shipping. There’s a little bit more legal stuff in here, because you’re actually paying for a service or a product. I’ll explain a little bit more of this in my book.

Number nine is online courses on Udemy, or other various ‘sign up for a course’ website. Basically, you spend a weekend creating How to Play a Guitar, or How to Make YouTube Videos, or How to Solve a Rubik’s Cube. Then you put it on Udemy, and people pay for that, $20, $30, $100. Every time they pay for that, you get a percentage. It only took that weekend to do it, but for the rest of your life you will be making money.

The last one is Patreon, and Patreon works best if your content isn’t very monetizable. But you have a large, or a very dedicated, small fan base, that is willing to give you money so that you can keep creating the content that you are creating.

If you want another 10 ideas, check out this video by Roberto Blake about passive income online.

Don’t forget to search passive income on Amazon, and buy my book. Then leave a review of it, if it was helpful, because reviews are super helpful to me, and future readers. It’s the only way that I can improve.

Thank you guys so much for all the support. I hope I added value to your life in this video, and my other videos. Subscribe if you want more.

signs of success

7 Psychological Signs of Success – Traits of Successful Entreprenuers

Hey guys! In this article I’m going to be talking about 7 signs that successful people have. This means you can look into yourself to see if you have these qualities, and predict, to an extent, if you may be like them, or look to your friends, to see if they might be successful. All of these are in your control to at least some form, which means you can also take these traits and grow them, constantly work on them, to increase your comparative advantage to be more successful. 

1) Competitive

Successful people are usually highly competitive. In many ways too. They are competitive when selling a product, when advertising, when offering the cheapest price, when reaching goals, but it all comes down to competitively offering the most value. Take a look at some of the largest brands out there, they all have competition, and without their CEO’s being super competitive, they would not have succeeded. Now, it is important to be competitive in two areas, the first, obviously is other brands, businesses and people in your market that are trying to steal your customers.

This happens all the time, but what distinguishes massively successful people from the rest, is the fact that they are competitive against previous version of themselves. They are always bettering themselves in many ways, and we will talk about that in a future step. So having a competitive nature is a great trait of someone successful.

2) Obsessive

Obsessive. So when most people think of obsessive behaviour, a negative connotation is correlated with it, I actually made a whole video about that. But, think more like very focused, driven, and dedicated. You can’t have a multimillion dollar business without being obsessed about the product, your employees, your customers, and most importantly your vision. This trait ties in with the first one, to be competitive, always tracking your competition, being obsessively tracking your own growth and always knowing where you are. Psychologically, being obsessive means you’re always thinking about it, adapting it, changing it to be better.

3) Always Learning

There are many ways to learn, but successful people never stop learning. When they stop learning, they stop being successful. You just have to stay ahead of the curve, reading new books, going to seminars and conferences if that’s your thing,  talking to the most successful people in your industry, testing, learning, experimenting. Warren Buffett, who’s net worth is over 60 Billion reads at least 5 hours a day, every day. Most people don’t even pick up a book after graduating and getting a 9-5 job. The more you learn, the more you’ll earn.

4) Always thinking

Just like Obsessive behavior tied in with competitiveness, thinking ties in with learning. Successful people, especially entreprenuers, are always thinking. Thinking of how can I do this better, how can I reduce the cost of this, Has something like that ever been done before? The cool thing about it is, the more you learn, the more you can think about, the more you can experiment, the more you will increase your chances (combined with hard work) to become even more successful.  

Napoleon Hill stated this in his “Think and Grow Rich”book; having more ideas and learning more will produce more and more ideas, like, imagine the ideas in your head are people, if you have two people in a community, you don’t want their children having children with each other. Introduce them to more ideas, so they can have healthier and even more children. That was a weird analogy, but really if you’re in a rut, start doing something to learn more so you can think more and your brain will grow new ideas and solving problems all by itself.

5) They End things – persistence

I know a lot of people struggle with this one, but ending things is a great predictor of who is going to be successful later in life. If you have ever started a puzzle, but never finished it, it’s like starting a business and not continuing to work on it. There are many people who are like this, and we need them, but there will always be someone more successful than them.

We need starters, people who have ideas, people who invent, people who create new things and fail, but those who stick with it, and continue to grind when things get hard, those are the ones who will make it big, be remembered, and stay in history forever.

For example, no joke, I counted and I created 98 videos before one big video took off in the recommended  algorithm on this channel. That’s why being passionate about something on Youtube is insanely important to your paycheck. How many channels are people going to start, and quit after 20 videos? After 50 videos? The same with other markets, selling clothes, selling electronics, starting a retail business… someone is going to stick with it longer, learn more, think more, be more competitive and squish their competition who didn’t do those things. So, this tip could be summarized into being persistent.

6) ⅓ of people are smarter, earn more, successful

I really like this tip, but a lot of people struggle with it, specifically because it involves meeting new people and maintaining a relationship. It also involves cutting out toxic people, and most of the time the most toxic people are those you’re closest too. I’m going to be working on some psychological tips and more videos on ways to find and meet people who are smarter, earn more, or are generally more successful than you think you are currently, but if you’re not spending at least a ⅓ of your time around people who are doing better than you, you’re draining yourself and throwing a lot of growth and potential success away.

A lot of motivation, inspiration and work ethic problems could really be solved with changing the people you hang out with most often. That is super important, and I’m going to make a video on the psychological aspect and benefits of spending your time around people who are in a better position than you are in, so hit that bell to be prepared!  Spending time around these people will also help you with learning more and thinking more too. Increase the quality of the people in your circle to increase your success.

Now, some people like to surround themselves with people in a way that they will always feel the most successful, by surrounding yourself with unsuccessful people, you’ll stand out and feel bigger, but you won’t continue to grow. Getting rid of your ego and spending time around people who are better than you will make you better.

7) Realistically optimistic

This tip comes into play not only in business, but in life in general. You’ll be happier, have more energy, and make better decisions. Everyone knows what optimism is, but let’s discuss realistic optimism. You’re not going to be happy or a millionaire if you’re complaining about how the stocks are super low, nobody will buy your product, how your competition will always be better than you. However, you can’t go too far the other way either, don’t pay $50,000 for a product you haven’t tested, you have to be realistic about it, just because you have an awesome idea that came from your heart, and your mom support you 110%, doesn’t mean people are going to buy your solar-powered, eco-friendly toothbrush, Rick. Optimism does great things for your mental health, and actually your physical health. A study, I read in “Learned Optimism” by Martin Seligman, showed that optimism could actually reduce your chance for cancer, but the same book also said most optimistic people had a deluded perception of the world, which is why you have to be realistically optimistic.
SO, the seven things, be on the lookout for these qualities in yourself, in your friends, and work everyday on developing these traits, because I believe, and psychology proves you can improve some of these. You can become more optimistic, you can spend more time around higher quality friends, you can pick up a book for 30 minutes a day, and these will set you apart from the crowd, from those who will continue to complain about how unsuccessful they are and those who will sit in a chair in 70 years wishing they had another chance.

Why You Shouldn’t Get Rich Too Quickly

Most people like the idea of getting rich which is why so many buy into to get-rich-quick schemes. While having more money can ease financial stress and give some level of freedom, it can also come with a lot of potential downfalls when it comes to you fast. Every person and situation is different, but there are some common problems associated with getting rich too quickly.

One of the first potential problems that comes up when people get rich in a short period of time is that it can change them pretty significantly. When you make money quickly, you don’t have much time to settle into a new lifestyle; you’re just thrown into it. It can go to your head and you start indulging in lavish habits and developing expensive taste. That isn’t a bad thing in and of itself, but if your attitude changes with your lifestyle you might start to behave in a way that comes off as snobby or pretentious to the people around you.

And that’s significant; among the challenges that a sudden increase in money brings, the strain in relationships is said to be one of the hardest. Your changed persona can contribute to this, but even without any change in you, the new financial situation can make you feel isolated from friends and family. Being able to afford a different kind of lifestyle often leaves your loved ones behind because they don’t have the money to take part in the same activities. You might think that including them in your new adventures can sidestep the problem but they can then feel awkward about the costs you’re covering for them. Or, the problem might be as simple as them seeing you differently and then acting differently around you. Markus Persson, founder of Mojang, the company behind Minecraft, sold his business for $2.5 billion. He later tweeted, “Hanging out in Ibiza with a bunch of friends and partying with famous people, able to do whatever I want, and I’ve never felt more isolated.” Even with his friends and surrounded by people, the sense of isolation persisted. Gaining wealth quickly is likely to wreak havoc on relationship whereas becoming wealthy over a longer period of time allows you and those around you to adjust to the change more smoothly.

Envy is another issue that can get in the way of your relationships. Money is something that most people want more of, even if they have enough to afford everything they need. When you suddenly have a lot and they don’t, your friends and family can become jealous of what you have and even bitter about the fact that you have it. Their feelings will start to form a rift between you and, because it’s based in their own feelings and not in something you did to them, there’s little you can do to resolve to problem. It’s something that they have to work through, and you can only hope that they’ll be able to accept that you’ve become wealthy and move past it. It’s another instance where a slow increase is better since it gives everyone a chance to adjust to change over time. You aren’t responsible for how other people feel, but you are affected when they don’t react well to your newfound wealth.

You won’t only notice a change in your relationships because of how other people feel about you, though; you’ll feel differently about some of the people around you, too. We’ve established that money changes people, and it can change your friends or family. You might find that some of the people you care about start to ask for favours, investments, or loans. This can cause you to feel uncertain about your relationships, especially new ones—do they like you for you, or do they just want your money? Experiencing this kind of behaviour in just one friend can spark paranoia about other friendships too. When you accumulate money over time, it doesn’t seem as dramatic an increase in wealth and people are less likely to see your financial gains as an opportunity for themselves. When it comes all at once, they see you as having enough of an abundance that you could spare some, and some people might be bold enough to ask you to share.

Your relationships with people aren’t the only ones that can go through changes; how you relate to money and your belongings will change too. Starting with a modest income and accumulating wealth gradually creates a scenario where you recognize its value clearly because your money has to be managed wisely for it to grow. Coming into a lot of money in a short time, you can feel like you have plenty to spend and you’re likely to splurge. You feel that you can buy expensive things whenever you want and the value of those things is diminished because you haven’t had to wait or save up for them; you can easily get what you want when you want it. You become less appreciative of the things you have and that car you dreamed of or the house you’ve always wanted doesn’t feel as exciting or significant as it would have if you had to wait and save to get them.

When the things you’ve always dreamed of become easy to attain, it’s common to feel that you’ve lost a sense of purpose. In the past, if you set a goal that required money to pay for—whether it was to take a trip, start a new hobby, or some other big purchase—it became motivation for you to work toward. Even if you were steadily becoming richer, you’d have to save until you were in a place where you could spend the money on what you wanted and still have money in the bank. If you suddenly become rich and can buy whatever you want as soon as you want it, you might find yourself with fewer things you have to spend time working towards. Have you ever played the Sims and used a cheat-code to start the game with a ton of simoleons? You probably jumped right into building a big house with all of the most expensive items, then played for a little while and got bored because you already had everything. It’s a lot like that. You can set goals that aren’t dependent on money, but most material desires that acted as motivation in the past disappear because you can fulfill them right away. It can make you feel like there’s a lack of purpose in your life, like there’s little left to work toward.

With all this considered, it’s understandable that there can be mental health ramifications with getting rich too quickly. You can lose balance and fall into depression, feel guilt for having more than you need when others are in poverty, or develop anxiety over not knowing who to trust or how to hold onto your money. Any significant change in a short period of time can throw an individual into mental instability, and that includes becoming rich, even if it initially seems like a great thing.

Thankfully, if these things happen they don’t have to last. The effects of becoming rich quickly have been carefully examined by psychologists and one expert, Dr. Stephen Goldbart, coined the term “Sudden Wealth Syndrome” to describe the phases that people typically experience. The first is the honeymoon phase where the individual feels powerful and is prone to spending sprees. The second is wealth acceptance where they still feel powerful but also realize that they’re vulnerable and need to set limits. It’s in these two phases where a lot of the relationship chaos and personal imbalance are felt. But then they move into phase three, identity consolidation. The individual realizes that being rich isn’t what defines them and they start to think about who they want to be and what they want to do in life. In the final stage, stewardship, they’ve settled into their wealth in a mature way and start planning what they want to do with their money. As they move through the latter phases and they become comfortable with their finances, their relationships have a chance to stabilize and they feel more comfortable with the idea of having it. They learn to be responsible and live a life that isn’t entirely defined by the money they’ve gained.

Not everything is what it seems. Typically, when we think of suddenly getting rich, it’s something exciting, freeing, and ultimately a really good thing. It definitely has its perks, but becoming wealthy too quickly can really create chaos in your life, leaving you with fewer friends and in emotional turmoil. Not to mention less money than you started with—just ask any one of the 70% of lottery winners who’ve gone broke. It’s better to grow your wealth over time, to start small and accumulate your riches at a steady pace. It gives you more time to adjust to having money and the chance to really appreciate what you have.

How money affects our mind

How Money Affects our Mind – 4 Things Money Does to Your Brain

Have you ever daydreamed or thought about living the rich and luxurious lifestyle? I know I have. Truth is, at one point we all have imagined ourselves in a world where we have financial freedom to buy almost anything we wanted. So why do we get these dreams of having a mansion with a Lamborghini parked in the driveway? Or even touring the whole world on vacation.This is a question I have thought about myself as well.

In fact, kids and adolescents are more likely to daydream about being rich and famous than adults. This is because they can experience more identities and life possibilities as adults tend to daydream more realisticly. Daydreaming itself is a pretty big investment, as we spend up to half of our mental activity on daydreams. When we drift off into the daytime dreamland we are slightly detached from our current situations, and when we daydream about being rich it is because these fantasies reflect a need to rise above the frustrations of our own life.

But, what if all this really were real? What if you actually owned a big mansion with a Lamborghini out parked out front? Would our behavior change after having all this money? Today I present to you 4 ways money affects our mind.

Money Motivation:

Many studies suggest that money can alter a person’s behavior, but not always for the good side of the swings set. Luckily there are many grateful wealthy people that donate portions of their piggy banks to good causes, but this is an exception. Our thoughts, behavior, and actions link to our psychology; including factors from  the way that you were raised to even genetics.
Money may not control your beliefs but it may influence your attitude and behavior towards others.

In a study to find the motivations to complete a given task there were 3 groups of subjects. These 3 groups were given the breaking a sweat task of moving circles from one side of a computer screen to the other side. The first group was asked to complete the task as a favor, the second for a slim 50 cents, and the third group for 5 dollars.  Talk about easy money. The end result suggested there are 2 reasons for motivation to complete a given task. Social motivation was found as the first motivator because when we recognize a tasks social value we see the time to do it as a worthy investment. However when money is brought to the table in return for the completion of a task we tend to think more about the business value of the deal rather than the social side of it. This may lead to serious problems in one’s work life. If you feel underpaid you may be at risk to underperforming in the workplace.


The amount of money you bring in could affect the way you view others, and guess this, even yourself. One study asked individuals to rate things such as their income class, genetics, and even I.Q. levels. The results were eventually analyzed and produced the result of an individuals sense of “class essentialism”.  The wealthier the respondent the deeper sense of “class essentialism” the individual possessed. Wealthy respondents were found to believe that class was based on genetics. The same respondents also believed that life was fair and you what you deserve. However, those belonging to a lower class believed class and wealthiness has nothing to with genetics.

Money Cravings:

Addiction begins with a positive response to a specific behavior. Chasing the same behavior for the same response may trigger addiction.
Some people have become addicted to earning money. I am sure that at one point of time you have received a rather large amount of money to fill up that empty wallet you once had. Think about the feeling you had when your wallet was now full of money, did it feel good to have money in your pockets? I am sure it did, and this good feeling, or positive response could lead to addiction. Compulsive shopping follows the same process. When a compulsive shopper buys something their brain releases dopamine, a feel good chemical. This positive response leads to the person chasing this behavior more and more to feel the positive response, thus leading to addiction. These addictions like any other has the potential to become dangerous. The want for money may become dangerous if you begin to perform illegal acts to get money. Compulsive shopping can become dangerous when you put either yourself or others at risk if you spend more bank than you can bring in.

Morals and Ethics:

Who is more likely to not follow the rules? Whether it’s interrupting someone or taking more than one piece of candy from that candy bowl that has a sign clearly stating to please only take one piece, one study set out to find an answer. Respondents that found themselves as a higher class were more likely to break the rules as long as it benefitted them. The “What do I have to gain from it” mindset is more often possessed by those who hold a higher wealth class. They pursue the most benefits for themselves, making them great for the business industry. So does business and or money have much room for ethics? Nope, not really.

Further Review:

After further review there seems to be apparent correlation between wealthiness and selfishness. The more wealthy you seem to be the more selfish you are. If you have more wealthy your even more likely to bend the rules from time to time to benefit your favor.
Even having more money could make you believe you are rich just from your genetics and that you deserve to be rich. This all may be real but the way someone acts when they run into money could also be affected by the way they were raised. So yes money can have the potential to change someone. Money can even make a person go crazy with an addiction.

How to get a better credit score

How to get a better Credit Score by understanding how they work

“Do you have good credit or bad credit?” If you’re like me, this question might be just as confusing as the question “Are you a good witch or a bad witch?” I mean what exactly IS “good credit” and “bad credit”? What do people mean when they talk about “credit scores”?

If you’re like me, talking about money, or anything for that matter,  can be confusing and/or boring if you don’t know what you’re talking about.

Crazy words like 401K, stocks and bonds, inflation, compound interest, investments, stock exchange. Sometimes I start thinking I would have an easier time learning Japanese than trying to understand what on earth accountants and financial experts talk about all the time, but once you start to understand these words, at least for me, they become super interesting, and Practical.

You’ve come to the right place.  Here on this channel, we translate the scary unknown into simple terms that the average person can understand and use.

This video will help you decipher the “Greek” of credit scores. After watching this video, you will understand three core things about credit scores: 1) how credit scores work, 2) how they’re calculated, and 3) why they’re important in your future.


1) How credit scores work

What is “credit”?

In the credit score world, the term “credit” simply means your reputation as a borrower and it has to do with your history of staying on top of loans and credit cards.

Some of you may be scared by getting a credit card or going in debt, but debt is simply a tool used to manipulate money. It’s not good, or bad, but it can be used in great and terrible ways.

Before lenders will sign off on loans with you or open a new credit card for you, they find out your personal credit report. The credit report tells them your borrowing history. Based on the credit report, the lender determines how much to charge you for the loan and whether to approve your loan or not. So, whether it’s taking out a loan to help pay for college, a new car, or a new house, credit scores are super important.


2) How credit scores are calculated

Who determines your credit score?

Credit scores are determined by credit bureaus (or credit report agencies). But to get your credit score, you have to start with the credit report.

Credit bureaus are simply companies that gather your financial information onto a report called your “credit report.” In the U.S., there are three main credit bureaus: Equifax, Experian, and TransUnion. The Fair Credit Reporting Act, issued by the government, sets standard guidelines for all credit agencies to follow when reporting on your credit.  Other businesses (like lenders, banks) can buy your credit report from the credit bureaus.

These credit bureaus use computer programs to analyze the credit report and give you a “credit score.” This software scans the report for qualities, patterns, and potential pitfalls in your borrowing history.

This credit score is usually what most lenders look at. With so many loan applicants, they don’t have time to wade through pages and pages of each person’s credit report. So they just come up with a number. Credit Scores make it easier and faster to determine loan eligibility for applicants.

What exactly is ON a credit report?

Well, lots of things. But let’s be more specific.


If you really want to see what’s truly on your report, just go sign up at, that’s what I use and they let you see your report, and also give you a free credit score update for free every week. If you don’t monitor your credit report and score very often, someone could be stealing your identity without you knowing it.

Credit reports gather information about specific credit history “events,” so to speak.

They list things like:

  • amounts you’ve borrowed
  • your payment history (whether you’re on time, or have any late/outstanding payments)
  • whether or not you have any outstanding loans (that may or might not be in the “collections” status)
  • any loans you’ve had in the past 7 years (whether you’ve paid them off or not)
  • current loans
  • any minimum monthly payments you’re making
  • instances of foreclosure or bankruptcy

What factors make up your credit score?

Each credit bureau puts out a credit score, or a FICO score. FICO credit scores range from 300 to 850. The score is made up of the following factors:

-10% Type of Credit – auto loan, home loan, credit card

-10% New Credit – credit seeking activity, statistically if you are seeking lots and lots of credit in a short amount of time, you are seen as riskier, which makes your score go down and your interest payment go up. They check these by hard inquiries, which is anytime a lender checks your score.

-15% Length of Credit – oldest account, neweest, and average age

-35% Payment History – largest amount – bad/good delete 7 years

-30% Amounts Owed – credit utilitization, which is the percentage of how much you’ve borrowed over how much you can borrow total. On a credit card you might have a limit of 1000, and if you use 200 of it, your credit utilitzation will be 20%. Experts say keep it under 30% to stay in the clear, and under 10% for best results.


Here’s where “good credit vs. bad credit” comes in. A high credit score is a sign of a good borrowing history. The lower your score, the harder it will be for lenders to approve your loans. THey will see you as risky. It’s common for lenders to set “rules” their applicants must fit in order to sign a loan with them. Like one lender might not approve scores under 650. This same lender might approve scores between 650-720, but give them a high interest rate. Then for scores over 720, you might get a low interest rate.

3) Why credit scores are important in the future

So like we said before, good credit scores are important for securing loans. Securing loans means that you are better equipped to accomplish your purchasing goals like buying a car or house, or paying for college. Cause face it, if you’re not rich, you’re going to need some loans to help cover such huge, necessary expenses. And even if you do have a ton of spare change laying around, it’s a good idea to keep some credit active to keep your score high. So the question is not “will you borrow” but “when you borrow.”

I want to make this very clear. If you use a credit card correctly, you will not have to pay ANY interest. I’ll cover it in a later video. Credit is not BAD, it is when you use it irresponsibly that it can have downfalls. For some people, like me, paying $400 on interest for a car loan is worth the 150 point increase over 3 years to be able to get a lower interest mortgage.

1) How do I get a copy of my credit report and credit score?

You can get a free credit report by going to

Credit scores are a bit harder to get. Hard, but not impossible. One easy way is to ask your lender for your score, next time you set up a new loan.

CreditKarma is what I personally use and there’s an app I downloaded to check it weekly.

Another way is to look for your FAKO score. This is your credit score that other credit agencies can calculate for you. They based it on some of the similar things that the FICO score looks at, however these FAKO scores do not use the same algorithm that the main credit bureaus use to get your FICO score.

Note of caution: be careful when scanning the web looking for your credit score. Like with anything online, some places are legit while others are scams.

If you want your FAKO score, here are some legitimate places we’ve already scouted out for you (you’re welcome!): Quizzle, Credit Karma, Credit Sesame, and

2) What can I do now to make sure I have a healthy credit score?

It’s never too early or late to start improving your credit score. There are some easy ways to get and keep a good credit score. 18 is the prime age to start working on your credit score.  Here are just a few suggestions to get you started.

-Pay your bills and loans on time. Sounds like a no-brainer, but seriously this is one of the easiest and most important ways you can have good credit. You can increase your effectiveness of this by having a monthly budget where you track your money.

-Diversify your types of credit. This just means that you have different types of credit in your borrowing history. Different credit cards, different loans, etc. One easy way to do this is to have a credit card or two, but make sure to pay it down to $0 each month—this will increase your credit score.

-Be a wise consumer. If you’re like me, it’s way easier to spend money than save money, especially if you aren’t tracking it. But try to base your spending decisions on what you need, not what you want. This will ensure that you don’t overspend on impulse buy, which can sometimes cause you to default on your current loans or payments (which is a sure-fire way to lower your credit score).

How to Haggle - negotiation tips

How to Haggle – 8 Best Psychological Negotiation Tactics and Strategies

Many people stay hesitant to haggle better, but the credit emergency implies many of us may want to find out new tips when attempting to haggle for our money and underneath are the Top 8 tips to haggle better

1. Do your research

Start by asking an important question: How much would I like to spend? When you have set your financial plan, your objective is to arrive a deal that offers an ideal service or product for a set number you plan to spend. The next step is to research the item you need to buy. All items have their own uncommon components. But what do you truly require from the item? There is no reason for paying for additional components you will never use. Observe around and discover the item you think will best suit your requirements and spending plan. Check Ebay, Amazon, Craigslist, and other online marketplaces for the best deal. Discover the amount you can purchase it for from different sources, and make the best decision. If you’re buying it locally and with someone you may barter with, we can move on to the next steps. If the item is online and the price is non-negotiable, then you might want to close this video.

2. Build a rapport with the salesperson

So, what’s the principal thing you should do when you meet the salesperson? Grin and ask their first name. At that point use it as frequently as you can in the discussion. Give them your name too. Its stunning how a basic trick like that can begin to separate obstructions. Some cheerful visit before you begin talking business is movement in the right direction. If you’re stuck for a thought, simply talk about the climate, or check out my other videos on conversation tips. It truly doesn’t make a difference what you talk about, the length is determined by how easy it is to break the ice. Have some good time and develop a friendship if conceivable, but recall why you are there to pack an extraordinary deal. Psychologically, if you can get the salesperson to gain an unconsciousness bias towards you, they will be much more compelled to give you a better deal.

3. Wait, don’t haggle too soon

Persistence is very important in haggling or bartering. Try not to be in too a lot of a rush to do a deal. Try not to even say the cost in the first five minutes. Permit the salesperson to sink into the discussion and also you. It’s generally great to give the salesperson a chance to inform you regarding the item you need to purchase. Let this teach you about the product you’re buying, and play dumb if you have to. You may know a bit as of now from the research you’ve done, but for them, it’s best to listen to the data you are being given.Give them a chance to demonstrate to you the stock on offer. They might have the audacity to offer a markdown on a specific product since it lacks most recent features. Also, be on the lookout for flaws, as we will discuss this in a future step.

4. Stand your ground

Discussion and conversation gives you the chance to discover somewhat more about the individual you are dealing with. If their attempt to make the deal is swift and smooth and you feel they are attempting to steamroll you into a deal basically in light of the fact that that item will gain them the most profit, ensure they don’t escape with it. Hold fast and continue asking questions and breaking their barriers. Perceive how much the salesperson truly thinks about what they’re attempting to offer you, maybe they are hiding something. Being raced into separating with your money is terrible news, and may lead to buyers regret.

5. Let’s talk numbers

Never ,ever let them know how low or high you are actually willing to give. Giving that data away can hurt a haggle before it has even started and isn’t haggling at all. You would prefer not to spend your most extreme spending plan, so don’t announce it. Try not to say , I don’t assume you can thump any money off? Do say I like those get the cost down and I’ll purchase them today. Try not to say I don’t assume you could give me a markdown? Do say –What kind of deal would you be able to do to persuade me to purchase today? Be certain and centered. To get a decent deal you should go in so low it’s verging on annoying.If something costed them $100 to purchase, and you can buy them for $50 on Ebay, try offering $20. Of course, they will most likely say no, but if they say yes to a higher price, you’ll spend the rest of your day wondering if you could’ve gotten it lower. Now you have at least set a price floor. When you make an offer in a haggle, don’t talk again until the salesperson answers. If you say too much you sound restless, as though you are attempting to justify the offer you’ve quite recently made. Many people get nervous and try to fill the space it takes the seller to think with useless talking. When you make your offer, gesture your head marginally as you do it. Also, keep your body language open and friendly, keep your toes pointed towards them, remove any object between you two and shake hands upon meeting them, while keeping your wrist open towards them.

6. Have an “Escape Jail” card

one thing you should have when you go into any business circumstance is a Get out of Jail card. I mean a reason to escape the shop if you discover the weight is getting a bit too extraordinary, or you discover a huge flaw in the product. Have a reason prepared; something that salesperson can’t make you stay longer with. For instance, I have a dental appointment in 10 minutes. I can’t stay any longer. I must lift the kids up from school; my significant other/wife/accomplice is sick. I can’t talk to them about this until they’re better. It will take the warmth off if the weight of your haggle gets too much and you need an easy out.

7. Extras

my recommendation is to dependably go for a few extras as a major aspect of any deal you do. Before you begin talking to the business staff, observe around the shop or showroom for extras you might want to get for nothing as a major aspect of your deal. Ensure your list of things to get is sensible. You’re not prone to influence the salesperson to toss in costly things as extras. But they may well incorporate some free assistants to run with the item you are purchasing if you let them know it will wrap everything up. An ideal opportunity to raise the subject is the point at which you have haggled hard and you feel beyond any doubt the salesperson won’t drop any more on cost. Know which extras to go for when the time desires that last push. Try not to do it toward the begin of an arrangement as the dealer will incorporate that freebie with the last value that is not an additional by any means. Maybe when you get close to a price the seller wants, but you think it’s too high, suggest adding a smaller extra to accept his current price and continue with tip number 8.

8. Clinching the deal

No salesperson will toss you of the shop out for requesting markdown, as long as you do it in a well-disposed and gracious way. Deals are there to be done, particularly in an emergency. If you see someone needing money on a Craigslist ad or Facebook post, you are at the advantage. Make sure you shake the seller’s hand and thank them for the purchase. When you get that better than the average deal, the feeling of fulfillment you feel is not just about the money you’ve spared, it is likewise about demonstrating something to yourself. You’ve set yourself a test and come through as a champ. It’s a noteworthy certainly support and each time you trade for merchandise in a shop or showroom in future your expertise will develop and develop. The more you do it, the better you get. That is the way it works

How to get filthy rich

How to Get Rich Quick – 4 Hour Work Week and Rich Dad Poor Dad Money Making Ideas

I have read books on financial independence such as Rich dad poor dad, the 4 hour work week, and a ton of other awesome income-generating-asset-producing idea books, and I’m going to sum it all up in this video. Make sure to watch this video all the way through and hopefully all the ideas will click and you’ll be able to start working on your dream and creating the lifestyle you want to.  Oh, and I’ll also be including some facts about Selena Gomez throughout this video, and a secret about one of my other videos at the end, so pay attention!

First off, we are going to establish the fact that most people don’t get formal financial education. In fact, if you’re like me, the only education you got when you were younger was from your parents. Watching them balance a checkbook (people don’t even do that anymore), pay for groceries and things they didn’t really need in the store, and working a professional, tax-paying job for every dollar they earned. This is all most people are taught, to look at the rich wide-eyed and frown upon them for their unlawful duties and get-rich-quick immoral schemes. You’re not getting the whole story. Now that I am starting to go on my own, I don’t want to follow down their footsteps, and chances are you don’t want to either. After reading a ton of books on financial literacy, investing concepts, and budgeting tips, I’m here to teach you methods that are different from the norm. First Selena fact: I bet you didn’t know her mother gave birth to her when she was 16.

Financial education from families – If they’re poor so are you

The first thing we are going to cover was taught to me by Robert Kiyosaki, the author of Rich Dad Poor Dad. Okay, so when you are spending your money, you can spend it on two things. Assets or liabilities. Lets define liabilities first, since most poor and broke people have these. A liability is anything that takes money out of your pocket in the long run. If it’s costing you daily, monthly, or yearly, we are going to call it a liability. If you own a car and you drive it to work every day, it’s a liability. You’re paying for gas, insurance, and every so often you have to pay for maintenance. You’re not making any money with it, so it’s a liability. If you own a house and you live in it, it’s also a liability. If you pay for that expensive coffee before you head in to your job, that’s also a liability. Now lets move on to assets. An asset is anything that brings you in money each day, month, or year. For example, if you own an apartment and you’re charging rent for $500 a month, this apartment is going to be an asset. If you own a small coffee shop on a corner of the street and profit $8000 a month, this is also an asset. If you have solar panels on top of your house, and you’re getting free electricity from them, but you paid an installation fee of $10,000, this is still an asset, it’s just a long term investment. This youtube channel is an example of a low-cost investment asset. If you want a list of awesome income-generating assets, subscribe to this channel. So, now that we know the difference between assets and liabilities, lets get to the main point. To become rich, you must own as many assets as possible. If you want a $200,000 Lamborghini, you must have assets that cover the cost of that lambo before you can buy it. The goal is to have more money coming in than going out. Second Selena Fact, Her net worth is reported to be around 45 million

Assets vs liabilities

Okay, onto the next topic. Remember earlier I mentioned something called a long-term investment asset? Well, this is what the rich and super wealthy spend their money on. If you could pay $100 to upload a video, but you earned $1 a month for the rest of your life, would you? I definitely would. In fact, that’s basically what I’m doing with this channel. The idea is to spend money on investments that continually bring you money each month, even if it takes a couple months to pay off. The super rich live for the long term. If you’ve ever played Starcraft, you know the best way to win is to get the most minerals in the early game, just like if you’ve ever played any of those automatic tapping games, once you get a couple auto-tappers going, you’re set and just have to wait. This is the idea you’re going to have to implement into your life to be super rich. Instead of buying extra mineral harvesters or tappers, you have to buy assets such as renting apartments, youtube channels, or solar panels. The third fact about Selena is that she currently has the most liked photo on Instagram, also, it’s reported that she makes over half a million a year simply from her Instagram posts.

Make money work for you

Now we are moving on to a specific definition of being rich. So, I’ve heard it before that to be rich is to have a lot of money, and to be wealthy is to have a lot of time, but this video is going to be aimed towards having a ton of both. Who wouldn’t want to spend their summer on a mega-yacht with tons of awesome friends and family eating amazing food and doing fun stuff? First we are going to define absolute income. So absolute income is the total amount of money somebody makes per year. This could be $30,000, $120,000 or half a million, absolute income doesn’t take anything else into analysis, just the raw number of money a person is profiting. This is where most people think wrong when they think of rich. Let me introduce you to a new idea I learned from reading “The four hour work week” by Timothy Ferriss. Relative income is the amount of money someone makes versus the amount of freedom they have. For example, I’m going to give you two people and you have to tell me which has the higher relative income. John is working in New York City. He works 80 hours a week and earns $160,000. He can’t move and has to live in the polluted, highly populated, city of New York. On the other hand, we have Jerome. Jerome works only 10 hours a week, and earns $40,000. However, since Jerome is self-employed, and his income comes from advertisers, he can live virtually anywhere in the world. Who is wealthier? Technically John earns more. Jerome has more freedom though. He can move to Cuba, where he could buy a luxurious house for $30,000, while John has to pay $2000 a month for his apartment. If we break it down, John earns $38 an hour, but Jerome earns a whopping $77 an hour. So if we take this idea and apply it with another topic Rich Dad Poor Dad taught me, we should cultivate our lives trying to earn as much money for each hour of our lives as possible to become rich. It’s simple. If we can cultivate our time to be worth $500 an hour, and we work half as much as someone who can earn $10 an hour, we will always be wealthier than them. Basically, focus on relative income by calculating how much you earn per hour, as well as how much freedom you have in life. The fourth fact about Selena is that she chews pickle-flavored gum and drinks olive oil to protect her amazing voice.

One of the best ways to make money for you is to invest in the Stock Market. Many investors have been claiming a minimum of 5% returns for years and years, and with the power of exponential growth, the more you invest, the more you earn! Check out my friend Ryan’s guide to investing in the stock market for more information, he’s got a ton of great info on choosing the right stocks.

Make money work for you

Relative vs absolute income

So here’s another topic I want to talk about, but this is only for business owners who wish to build an empire and pay for their dreams without paying any taxes. In America, there is a way to do this. Let me give you an example. In the American Tax system, and quite frankly, some other tax systems worldwide, if you own a business, even if it’s not classified as a business and it’s just self-employed income and your business technically loses money, you don’t have to pay taxes. For example, if I spend $500 creating a video, and that video only earns me $400, I don’t have to pay a dime. The secret is finding creative ways to write off these deductions in a legal manner. If it’s not legal, this is called tax fraud and is a serious crime, so I recommend consulting a professional before attempting this. In most cases, for the self-employed you can do this by making items you would normally buy a write off. For example, if I wanted to eat some caviar, I could buy some caviar, make a video tutorial on how to cook and eat caviar, then use the price of the caviar as a tax deduction. Big corporate entrepreneurs do this with Lamborghinis, just write them off as a “company” car, or the same with a giant skyscraper, vlogging camera, expensive gaming computer, or the new $8000 suit they just bought. Of course they get to use it to improve the quality of their life, but from the business and government world, it was used to improve the business, which in theory improves the economy and you don’t have to pay taxes on it. Oh, yes, now that you are quite invested in this video, I want to introduce a new idea. There’s a psychological effect called the sunk-cost bias, which means after you have spent money or time or effort into something, you become emotionally attached and don’t want to leave it for losses. Take this video for example, there’s still more to watch, and if you’ve made it this far, chances are you realize how much value there is and you’re going to watch till the end, even if I filled it with crap. I don’t but just remember this idea. This is also why many people who are in a dead-end relationship won’t end it, because they feel they’ve invested too much into it and don’t want to waste the opportunity it could have to get better.

Money and taxes and write offs

The next topic I’m going to talk about is the difference between a producer and Performer. So in the book “The Self-made billionaire effect”, the author states that all billionaires fall into the producer category. A producer is someone who produces raw content, they create new strategies and invent. Producers create value from nothing, and actually give orders to performers. A performer on the other hand, is someone who uses existing processes, and a great analogy of this type of person is a factory-line worker. They’re fast, engineered to reduce errors, and just have to do what they’re told. Now, before we go into which is better, you need to understand supply and demand. It’s not that producers are better, it’s just that there are usually less of them who take risks, which means that the demand for them is higher. There is significant evidence that there will always be a low supply of producers, which means if you want to rake in the big bucks, you’ve got to be good at producing things. Start pumping out more interesting images on your instagram feed, start posting more Youtube videos, start producing more and more content overall. If you really want to take the entrepreneurial side of it, combine this with a concept from the 4 hour work week and outsource this. You could pay someone $5 to upload a relevant creative image on your feed once a day and if you have a large enough audience, you’ll be creating value in their lives that adds up to way more than $5. I wish I could go on about this topic, and I may in another video, but we have to move on, and I’ve got another Selena fact! At the time of this upload, it has been said that she has lupus, and combined with the stress she’s been receiving lately, she plans to take all of the year of 2017 off from music production and social media together.

buy investments to become wealthy

Producer vs performer

So one last thing that you should know before this video ends and you start your path to becoming a super luxurious billionaire is that all wealthy people focus more on opportunities than obstacles. In fact, they see every problem as an opportunity to add value and to earn money. It took you 3 hours to hook up your new TV? Why don’t you contact the manufacturer with a simple tutorial brochure you created and tell them you’ll sell it to them for $300 or $1 per TV sold, which ever is higher or fits your current budget best. The idea here is to change your thinking from seeing an event as a frustrating obstacle to seeing it hope-filled with opportunity. Let me give you another example. I started this channel as for a couple reasons but the big one was that I saw a gap in the market. You probably know fight mediocrity, the most-subscribed Youtuber who makes animated book reviews. Well, I noticed for a couple months he was slacking, but people were still wanting his videos. He was probably doing this to make his videos scarce, which in turn gave them a higher perceived value, but I wanted to fill the gap. I loved reading, so I bought a bunch of books, the software, and made my own videos. Now I’m branching out to general advice and mixing all kinds of knowledge I can find and regurgitating it in this super interesting and engaging format. I saw a problem; Fightmediocrity wasn’t uploading as much as the market wanted, so I filled that gap and for like 2 or 3 months I made at least 8 book review videos a month. Now this channel has almost 30,000 subscribers, helps millions of viewers, and brings me in a decent amount of money; enough that I’m a college student and I don’t need any other job.  Our last interesting fact about Selena is that she is the youngest ever Unicef’s Goodwill Ambassador.
I hope you guys enjoyed this video and learned something, and if you did, please leave a big fat like down there, it let’s me know if I should make more videos like this. Also, if you enjoyed this video, you might want to check these two videos out, they’re on the same topic and go even more in-depth than this video into technical stuff. If you want more videos like this, click the subscribe button and thanks for watching!

Also, I wanted to point out that Selena Gomez is awesome, and I hope you think so too. One last thing, if you watched my video on the psychological tricks to get a girl to like you, you’ll notice that the thumbnail has Chloe Moretz Grace, but since you watched this whole video, I wanted to give you a secret. Her eyes aren’t actually blue like in the picture. Thanks for watching!