How Couples Should Spend Money
In this Show
Husband and wife team Grant and Elena Cardone tackle the subject of how to balance business, marriage and family and 10X them all. Committed to their kids, their business endeavors and their marriage they share what they do to make it all work. Join them every Wednesday at 12pm EST where they live out their motto of “stick and stay it’s bound to pay.”
Grant says to spend all the money!
The American savings rate is hovering at 3-5%. Stop holding back. Spend it all! If you can’t save 20% spend all your money and make it official: you’re broke.
Exhaust the spending and get it out of your system. Flip your attention and put all your focus and attention on income. Spending money is not your problem. Making money is your problem. At the point you become officially broke you will be motivated to put all your attention on your recovery.
If you’re not producing, you’re rock bottom.
You don’t get money by saving it. You get it by investing it.
If you’re making $50k you should be saving $15k a year. I put 40% in a savings account to invest later in another business. If you can’t save 30-40% you should be spending it all.
Every decision you two should be making is about how to bring in more money. The kids, your spouse, everyone should be bringing in more cheddar.