Are you managing these areas like the rest of the 1% of the world? When I say 1%, that means that 99% of people are not doing these things. The top 1% of people are doing these things and these things that you can put right into your life immediately. They are going to change these two areas of your life, credit, and finances. So let’s dive right in and see How to Use Credit and Money Like the 1%.

The first thing we need to talk about is that CNBC did a recent article and they said: “if you had an emergency today, 60 plus percent of America would be wiped out and be put into debt.”

Let me say that again.

“If you had an emergency, 60 plus percent of America would go into debt and have financial hardship.”

Is this acceptable and what we know is America, the land of the free?

Is this acceptable to you that you want to be in that percentage of people that actually have to go into struggle and hardship because of an emergency?

Lost a job, not getting the clients you wanted, family issue, death, lost an apartment, you’re on the streets, you don’t have food, shelter, water.

These are emergencies that can happen to anybody.

Are you prepared to be in the 1% of people that this will not affect?

That being said, it is very unacceptable to me that we are in this country and this is happening to people.

So any advice that I can give and teach and help you guys along the way with, that is what I’m here for.

But let’s start with the first understanding that schools do not teach financial literacy and do not teach about credit.

I talk about this a lot.

No schools teach about that.

The reason they don’t teach about it is that they want you to go through college, they want you to go through and get a job, they want you to buy the house, it’s all set up for the banks.

They’re not going to teach you how to be entrepreneurial.

They’re not going to teach you how to be, you know.

There’s nothing about credit.

There’s nothing. Zero. Schools do not teach this.

There are schools in college that may teach financial literacy a little bit, but for the most part, we are grown up, guys, on mom and dad.

These are the people that are our mentors and these are the ones that help that.

If they were not in a position with great credit and had financial literacy and had a great income, then we’ve learned from their habits. So we got to unwind.

We’ve got to unwind, get into 2019 and have people help us.

So the 1%, first of all, they are proactive, meaning that we take action first and not wait for a crisis.

Never would I ever be in a position where if something happened where there’s an emergency that I am struggling to go into debt because I didn’t prepare first.

Everybody should have a three to six month, three to six month emergency in case one of those things I just shared with you happens.

You have three to six months that you can dig into.

Now, this money that you put aside, which we’re going to talk about in a second is not for the new Yeezys, it is not for a flat-screen TV and is not to go to The Bahamas on.

It is strictly used for those things.

Loss of job, no food, no shelter, death in a family, things that are emergencies, an illness, man, a family member gets ill and you got to protect them.

That’s what this emergency fund is for.

It is not for anything else and it is 100% being proactive today so you can take those measures and not be on the ground outside living on the streets because you couldn’t take care of yourself.

One tip that I’m going to give you that I’ve made hundreds of thousands of dollars on.

In fact, I’ve made hundreds of thousand dollars for other people in doing this.

If you don’t listen to anything else in this video, this is the one thing I want you to take away.

No matter what you’re doing today, you have to be able to be proactive.

And here’s what proactive means in this case, whether you’re an employer or whether you’re an employee, one thing that you have to do is you have to automate a very small amount of money each week into… if you get paid by weekly, you would do by weekly, monthly, no matter how you get paid, you need to automate a certain percent.

It can be from $10 all the way up to as much as you want to put in this, but the first thing you need to do is go open up an investment account.

Doesn’t sound scary, right?

It’s just an investment account.

Just a regular checking account, but it is called an investment account.

It can be done at Schwab has one. So if you guys have Schwab or nationwide, go open up just a basic checking account.

Now, what you want to do is get with your employer and say, look, what I want to do is I want to automate $10 per week.

What will happen is you can set this up with Schwab, where they will automatically pull $10 out of your checking account and put it int.

They’ll pull from your regular checking when you get paid and they will put it into their account, your investment account.

By doing this, you are automating your future.

Anything that can be automated, you have to think about it.

Do not do it this way.

Do not say, I’m going to move the money from my checking account each month into Schwab.

It has to be done electronically.

So 10 years ago, I started doing this with an investment account.

I started with just 50 bucks.

I never missed the money at all.

Never and I still don’t.

Just started with something small and then I just did incremental, as I was getting raises, I was taking that raise money and putting that aside.

When I say putting aside meaning that Schwab was taking the money and pulling it.

Now, as you do this, at the end of the year, you will notice that you didn’t miss the money and you will have thousands of dollars sitting there.

It is the number one thing for creating wealth.

So you have to first be able to do it. I don’t care if it’s $10.

Believe me.

You can cut out Starbucks, you can cut out something.

I do not want to hear people say they do not have $10 a week.

I don’t care if you work at McDonald’s, you can find $10 a week.

You just have to do it.

So the second thing that you’re going to do is after you get it automated, is your going to… well, we could do this the other way around first, but what I want to share with you guys is this.

You need to track what you’re spending for the next 60 days.

And this is going to be a little bit time-consuming.

Every penny that goes in and every penny that goes out.

What I want you guys to do is track it and what you need to do after 60 days is look at the things that you spent in and out and get rid of the things you don’t need.

Believe me, there’s plenty of things that you don’t need that you’re spending money on, but you have to track it over 60 days, not 30, so you can see a pattern.

So from today, for the next 60 days, track what’s going in and out and decide which ones you don’t need and which ones you do need.

Once you cut that money out, that money actually is the money that is going to be pulled, within 60 days, oh, I noticed that I didn’t need this food, I didn’t need this.

I didn’t need to buy this.

So I had $50 last month and I didn’t spend, that I spent on crap I didn’t need.

So now I’m going to take that $50, now I know what I can pull and I can move that money and have Schwab automate it and pull it.

So very, very important tips for having that emergency fund.

Now, credit-wise, people were making comments this, “Yes, Mike, but it takes money to have good credit.”

And why that is partially true, I’m going to tell you why it’s partially true because there are people that make $8,000 a year who have excellent credit.

It just means that they’ve been doing it a long time.

And yes, trade lines do cost money and credit repair, if you want it done professionally, is going to cost money.

But what if you learn how to leverage credit?

Meaning, even if you told me, well, I don’t have the money to buy your services, I don’t have the money to do this.

What if you just did the step from above that I just shared with you and that became your first emergency fund.

So now you can buy a tradeline and by adding that tradeline, maybe perhaps that tradeline actually allowed you to get your own credit card or a better apartment, or maybe you wanted to start a new job.

Maybe you got a better interest rate on your home or maybe into your first home, maybe a better interest rate on your car and less down payment because of that tradeline.

Do you know how many families I’ve helped by adding a tradeline and that tradeline actually saved their life?

You have to understand the credit.

Why do I come to you every day?

Because if you can add something to your credit file… now, if you’re telling me you got 50 collections on there, then maybe what you want to do is go back to step one here about finances, pull a little money aside and go through the elite credit repair.

Maybe it takes you a couple of months.

It’s okay, but you got to start somewhere today.

Everybody had to start somewhere.

Nobody just came out of the room with an 800 credit score.

So we have to understand that today is today.

Today is where we are going to take action.

Stop making excuses and saying it cannot be done.

I can’t do it. I don’t have money.

I’m on a fixed income, I’m on a fixed budget. Bullshit.

Take a couple of dollars every week or every month and pull it aside for crap you don’t need.

I can guarantee you that you are spending money on things that you do not need.

Automate it, put aside, when you have enough, contact us and say, look, I have saved up for the last couple months. Whatever the case is.

I might just tell you, look, I appreciate your business. Here’s a tradeline for free.

Show me that you’re taking action. I’m here to help you.

Taking action, getting what you need. I don’t want to hear, I don’t have the money.

That is an excuse for someone who doesn’t want to fix their situation.

Everybody can fix their situation whether you’re on a fixed budget or you’re living paycheck to paycheck.

Everybody can get out of this situation.

If you’re crippled in a wheelchair and making $4,000 a year, you can figure out a way to get on the laptop and make money.

There is every excuse in the book for people that want to make excuses, but the ones who actually take action, and I know I’m being hard on you guys, but I’m tired of hearing people say things like, I can’t.

You can.

Do step one, pull a little bit of side, open up a checking account, have that money pulled aside.

If it’s 10 bucks, 20 bucks, 30 bucks, 50 bucks a week or biweekly, it’s something then you’ll have your emergency funds.

You’ll never be caught off guard and never be on the streets, never without food and never without a shelter.

And if a family member gets sick, by God, you at least have something you can save your family member.

So this is what I’m asking you guys do.

Take action today. Over the next 60 days, I want you to really track in and out what you’re spending and then look at it, this is what came in, this one out, this is what came in, and then just look at it and say, I don’t need these things anymore.

This is something that I can change.

Take that amount of money, the things that you can pull out and immediately, that is the money that you’re going to take and say, okay, cool.

I have $80 a month that I wasn’t using. I can take that $80 a month and I can automate it by contacting Schwab and opening up a checking account over there and having them pull that $80 because I won’t miss it because I’m not buying that crap anymore.

That’s just a small scale.

If you do this weekly or again, however you get paid, here’s what I can promise you.

Thousands and thousands of dollars will be in your account in a very short period of time and you will not ever miss it.

I have done this with hundreds and hundreds of people and when they look back, they go, I never missed the money, but you got to take the action today.

Let’s get your credit right. If you’re in the five hundred, if you’re in the 400s, the 500s, the 600s and you say, look, I need to fix my credit.

I don’t have the money, but I’m willing to take action.

These are the people that I want to deal with as well because you’re at least doing something.

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