Episode 148: Invest Your Money Wisely

What are you spending your money on regularly?  Are you keeping track at all?  How much of your money is going to work for you and help you make more money?  These are all questions you should be asking yourself.  I’m always watching how I spend my money.  I recently bought a guitar for myself and kind of felt guilty.  It had been the first real gift that I had bought for myself in a long time.  I’m very frugal and only like to spend money on things that make me money.  I’m constantly putting money back into my companies and planting many seeds that will grow into money trees one day.

I once had someone ask me why I slept on couches and in my truck.  They said: “You are an entrepreneur, don’t you have a lot of money”.  I laughed and said: “Entrepreneurs make a lot of money by spending it wisely and investing their money on things that will have a great return.  Instead of getting a $100 hotel room I would rather tough it out in my truck and spend that $100 on Facebook ads which will in return make me money, reach more people, and impact more lives, which is working towards my 15 year goal of impacting 1 Billion lives.”

I look back on my life and I’ve made many big investments that have worked out very well for me.  When I was 15 I bought timber land instead of buying a brand new expedition with sub woofers.  That was a tough decision at the time because I really wanted that vehicle to impress the girls.  The thing is I probably would’ve wrecked that expedition within 3 years.  That land I bought instead has since doubled in value and has allowed me to buy more land.  This land gave me equity to purchase my dad’s Ice company Adams’ Ice Service.  Adams’ Ice Service has given me cash flow to start other companies.

Over the past 3 years I have spent close to $100,000 developing Arctic Stick and getting it to market.  It sells on Amazon.  Some people still tell me it was a bad investment because I will probably never sell over $100,000 worth of Arctic Sticks. I laugh and say it’s the best investment I have ever made.  Developing Arctic Stick has given me a better education then my $80,000 did at College.  I now know things that most people don’t, which is worth something.  Arctic Stick led me to starting Young Entrepreneur Convention, University of Young Entrepreneurs, and Keys to the Crowd which all will make lots of money in the future and impact many lives.  Now that $100,000 is starting to look like a damn good investment.

I urge you to invest your money wisely and think before you spend your money.  Is your money working for you?  I’ve found out that when you invest in yourself and things you believe in, that specific endeavor you put money in may not make you the million dollars, but the other endeavors it leads you to might.  So yes, Arctic Stick was the best damn investment of my life.

As for me buying a guitar. I work my ass off and deserve a $400 guitar.  And quite honestly by learning to play a guitar I feel like it will give me more creative ideas for other endeavors to make me money.  Well, at least that’s my excuse for saying a guitar is a great investment.

Invest your money wisely my friends.

If you want something to invest in, do it here.

By |2017-03-24T21:48:21+00:00July 19th, 2016|BTA Blog, Podcasts & Posts, Uncategorized|

Leave A Comment