Category: Podcast

MoneyTrainers – January 2018 Podcast

As always – parental guidance – there maybe some naughty words up ahead.

Show notes – January 2019  Audio is linked below.

For many people – not having any money is the default position. JAM’s – just about managing, those living on the streets, relying on benefits – people moaning in the office, at the pub – never having enough, moaning about the rich – how unfair it is that they have all the money – you know, the ‘never enough to go around because…’ story that is often told.

The oldest books we have access to all talk about the issues around money.  The problem with that is we end up with a whole series of negative thoughts around money and I know the reason we have these negative thoughts is because people don’t understand the science around money. They don’t know how to make it grow and how to multiply it. Those that do understand the money is just a resource, like having food in the cupboard or wood for the fire.

Money only solves the problem that is caused by not having any money. It doesn’t solve any other problems.

Money is an amplifier, if you are in a bad marriage with no money. Having more money will not make your marriage any better. but it sure is likely to increase the strain within the relationship.

Having money inside a good marriage makes everything better. It’s like a massive boost, couple getting on OK money kicking around and do the things and by the things I want to do. Surely a perfect scenario great relationship plenty of cash.

For some reason money is the one thing that nearly everybody you meet struggles with. There are few people for some reason, that really get this money stuff. We have all sorts of words and sayings for it, money doesn’t grow on trees, I’d love to afford it but, there is never enough, money is evil.

One of the reasons I do the things I do, it’s not only because I understand how this whole money thing works but large sections of my community seem to struggle with this whole money issue, of course there are plenty of myths and misunderstandings around money and this is part of the problem. The other part of the problem is the lack of a decent money education. people think that this whole making it growing it allowing it to work for you money thing is just far too the reality is it snow harder than learning to drive the reality is it’s no harder than learning to drive a car or ride a bike or to cook a Sunday roast. But it is more akin to making a cake, see if you get all of the ingredients in the right order and use the right chemistry making a cake is really quite easy. getting things in the right order with the right chemistry around your money is an incredibly successful strategy and it’s possible for everyone to learn.

So what are the fundamentals around money.

Spend less than you earn.
Invest the rest.
Always invest for income.
Spread your investment risk.
Never invest solely for tax reasons.
Check, tweak and adjust.
Provided you follow these few steps you’ll be doing better than average.

It is just something that you can use.

Money doesn’t care it has no emotions it’s not interested in who owns it or who owns it. Yet it is a measure of success. I don’t think it’s a very good one because I’ve met plenty of miserable wealthy people. And surely having a successful life means a happy one. Just a thought not a debate.

There also seems to be a widely held belief that money is difficult to come by, difficult to manage and difficult to invest. This perception is pervasive, it’s all around us just ask members of family or the people you work with ask them tell you how hard it is to get and hold on to how to manage.

But that’s not the truth is it, plenty of people have managed to acquire a big pile of cash and use it to fund extremely happy lives. And provided you follow a few basic principles – what I call the science of money  You can enjoy the warm cosy glow of having enough coming in and enough money to live a life.

Before you go on, the next time you are out shopping try this. Find an item you were going to buy, before you drop it in basket, look around, is there are bog off available, a discount for two, an own-brand option – just being mindful about spending often shows up as a ten or sometimes twenty percent saving – you now have some money spare that you were not expecting to have – put that in a safe place – you can invest that at a later date.

Surprisingly there are a very low number of skills that are required in order to provide for a successful financial future.

Simple things.

Invest for income using low charge funds – charges are important.

Use the likes of Peer to Peer lending for some of your cash – returns from Funding Circle can be as 12%.

Invest in Government bonds and company bonds – these work like a loan, you make to a company or to Government

Always have some cash to invest – never ever be fully invested.

 

Learn how to trade your knowledge – if you are in a full-time job – then part-time.

Be careful with pensions – these are only tax-deferred not tax-free, charges eat up all of  any tax relief (get hold of my pension review letter if you are not sure)

Retail arbitrage – new to this one myself – basically means buying an item for a large retailer and selling it online for a profit. I’ve done a couple of sales recently – it’s an interesting model that I’m still learning.

In summary

Spend less than you earn

Remember that once a pound is spent it never comes back to you somebody else now has access to that pound and if they use it correctly it will work for them forever.

Only ever invest for income.

Always focus on the level of charges.

Always invest on the dips – you don’t have to buy that investment now, wait until it goes down in value.

Always make sure you manage your tax liabilities and use your allowances carefully. Note I said “use” not ignore.

If we start to consider carefully the difference between science and a belief, for example, you’ll quickly start to understand that a belief is simply an opinion that is held by an individual or a group of individuals that is not based on any scientific fact. Examples of this are the immunisation debate, whether or not childhood diseases are caused by immunisation and that the earth is flat.

I’m not saying that the belief in either is wrong but the belief is not supported by the evidence. Anti-vaxxers and flat-earthers are entitled to their opinion, and their belief but that does not make them right. The truth is that the world is in fact round like every other planet in the universe and vaccinations do save lives.

When it comes to money there is also a clear science behind making it and managing it. Without a doubt making money is rules-based and provided you adhere to the rules your money will continue to grow. There is an obvious science of money, provided you apply the rules of money science to your money you will get a result. It doesn’t matter who you are or how much money you have if you stick to the scientific rules of money you will end up with a result based on those rules.

Managing your money is a simple science. It’s based on facts and very specific rules. Quite simply apply the rules to your money and your life and you will end up with the result based on the science.

The reason many people on this planet live in poverty is because they don’t use the rules of the science in order to improve their financial situation. I know, that you will provide me with a whole load of comments and narrative in relation to this statement. Explain to me the reasons why poor people are poor, however, the evidence again seems to prove otherwise. There are plenty of people that have been born into abject poverty but have somehow managed to improve their financial situation.

The science behind improving your financial situation is very straightforward. It revolves around education, action and self-discipline. Provided you stick to the rules you will end up with a science-based result.

Money, like nature, doesn’t care about you or any other individual it has no biases quite simply provided you follow the rules of money you will end up with more than you need. Money will flow towards those people that follow the rules. this is the reason why we have a 1% population on the planet that is 1% of the population controls a large proportion of the overall wealth on the planet. Sure some of these people and companies have exploited their position, however, they has all applied the science of money in order to magnify whatever money they have had.

Money science tells us that we should get her money working for us rather than us working for it. Having your money working in the background whilst you do other things is money science. And a bit like every other form of science, it is ignored by many. If you want you can call these poor people. They ignore the basic principles of money. I spent a large chunk of my working life not understanding the principles, my parents never understood the principles. none of them ever had any money, and neither did I until I started to apply the money science.

if you are a bit of a cynic and you don’t believe me go have a look at your own personal financial situation, there is a good chance that you do not have sufficient money. That you do not have enough. this is all the evidence you need that you don’t have an understanding of the silence around money. You have not bothered to learn what is required and take the appropriate action. This is not complicated period this is science.


science /ˈsʌɪəns/ noun

the intellectual and practical activity encompassing the systematic study of the structure and behaviour of the physical and natural world through observation and experiment.


The last two lines of this simple explanation kind of sum up exactly what I mean. Observation and experiment, the great thing about these two is that all of the observing and experimenting has been done for you. you don’t have to learn and carry out these experiments they’ve all been done by somebody else in the distant past all you need to do is to copy them. Really it’s that straightforward.

All of the effort, all of the study, all of the observing has all been done for you period all you need to do is apply to your own circumstances and make the science work for you. It is now 2019, we have many hundreds of years of knowledge and experience behind us. We know what works.

In the same way we all know that not exercising and eating rubbish food along with smoking cigarettes and drinking alcohol will shorten our life. We know these things, they are facts. If you do any of these you all live a shorter life than those. Facts.

Money is no different, we know exactly how it’s made and how it works. for the same reason you wouldn’t feed your pedigree dog or champion horse on rubbish food, you shouldn’t feed yourself it either. Managing and growing your money is based on the same thinking, once you know what works you just do more of the same. you apply the rules in the same way you would apply the rules of food and healthy living to your pedigree pet.

Most people seem to be in an abusive relationship with their money, I think there is always more to come, I think it will all end up ok. the fact is it will if you plan for it and manage it properly once you understand the rules, the science you know what to do next.

These are the things that money trainers is about. When you are ready, get on my email list and I’ll update you with some further information and also the 2019 training dates. this is where we spend 2 to 3 months working together in order for me to educate you on the basic money facts, The science and you can start to do the same with your own money. Anti-vaxxers and flat-earthers need not apply.

You can find out some more on https://www.moneytrainers.co.uk/about or directly on https://www.moneytrainers.co.uk 

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Podcast October 2018 – Introduction – making money work

Welcome, to the very first podcast in this brand new series. I’ll be talking about money. Making it, preserving it.

 

There is a lot more to come – subscribe and you’ll automatically be notified as new stuff becomes available. Enjoy.