GETTING MONEY RIGHT. 5 MISTAKES. 5 PRINCIPLES.

Alright, let's get serious. A lot of you never learned how money really works. Your struggling to pay bills or maybe you can pay your bills, but your not getting ahead. We want to change that.

Most people are not broke because they don't earn enough money. They're broke — or barely getting by — because nobody ever taught them what to DO with it. And here's the thing that really fires me up: you're probably making more money today than you've ever made in your life, and you still feel like it's not enough. Sound familiar?

You get a raise and somehow your lifestyle expands to eat every single dollar. You tell yourself you'll "start saving when things settle down." You carry a credit card balance month after month and pay the minimum like it's totally normal. You've got a vague idea that you should be "investing" but nobody ever sat you down and showed you exactly how. (I recently looked at credit cards...the interest rates ranged from 17% up to 32%! That's crazy!)

That's not a you problem. That's a financial education problem. And today, we're fixing it.

I want to give you a simple, clear framework that you can actually USE — not theory, not jargon, not stuff that only works if you already have money. This is for the middle-income earner who is working hard, doing their best, and is ready to finally see their money start working for THEM. Let's get into it.

WHAT PEOPLE ARE GETTING WRONG

Before we talk about what to do right, let's talk about what's going wrong — because I see the same mistakes over and over again, and I want you to recognize what you may be doing wrong with your money without any shame. Awareness is the first step...that's where I started when I was 25 years old and realized I spent a year of pay and somehow ended up $16,000 in debt. It was a disaster! I wanted to fix mistake and start building wealth!

MISTAKE 1: Living for the income, not the outcome.

Most people spend everything they earn — sometimes more. The paycheck hits the account and it's already spoken for. There's no plan, no intention, just a cycle of earning and spending that never moves the needle. If this is you, you are lost. You're drifting and you'll never get anyway positive until you shift your thinking and where your money goes.

MISTAKE 2: Treating all debt like it's the same thing.

There is a massive difference between the debt that's draining you and the debt that's building you. Most people lump it all together and either avoid debt entirely (missing real opportunity) or rack up the wrong kind without a second thought. If you're riding the consumer debt train, then you are overpaying for EVERYTHING! You buy some furniture...you overpay. You buy a car...you overpay. You eat out and put it on your credit card...you overpay. When you "consume on credit" you're overpaying by 20% on the purchase, but then you're getting hit with the interest of 10 to 30% too! It's crazy. Don't overpay for the things you want or need!

MISTAKE 3: Waiting to invest until they "have enough."

I hear this one constantly. "Tony, I'll start investing once I pay off this debt / get a bigger salary / get the kids through school." Listen — there is never a perfect time. The cost of waiting is enormous, and most people don't realize it until it's too late. Most people start their financial lives budgeting. I don't like that. It teaches you to constrain your thinking. You really need to start with investing. Learn how to multiply your money.

MISTAKE 4: AFFORDING THE PAYMENT

A lot of people are living their lives by the payment. They determine if they can afford something by whether or not they afford the monthly payment. This is bad thinking. It puts you in a position to overspend and lose your chance to develop "financial momentum." If you are living by the payment, then you're buying to many playthings. Your money almost always goes towards things you don't need and YOU OVERPAY! You're paying interest on things you don't really need. You don't need a $1,000 truck payment. You don't need another big screen TV. You don't need a vacation on your credit card. That's bad spending!

Mistake 5: Never reviewing the plan.

Actually, let me back up. Most people don't even HAVE a plan. But even those who do set one up will let it sit untouched for years. Your financial life is not a "set it and forget it" situation. It needs attention. Most people are living their financial lives without a vision or plan. They don't know where they are going (vision) and they definitely don't know how to get there (missing their plan.)

Sound like anyone you know? Maybe someone you see in the mirror? Good. Because now we move forward.

5 Prinicples of Getting Money Right

Money really isn't that complicated. It's rather simple. There's a lot you need to learn to be really good with money, but the basics are pretty simple. I've boiled it down to 5 simple principles to help you get your money right.

PRINCIPLE 1: BOOST YOUR INCOME. HOW MUCH MONEY DO YOU WANT TO MAKE?

Here's something I need you to hear: your income is your most powerful financial tool. It's the engine. Everything else — saving, investing, getting out of debt — runs on this fuel. So we don't ignore it, and we don't take it for granted.

First, know your number. Know exactly what you bring home after taxes every single month. Not an estimate. The real number. You cannot manage what you haven't measured.

Second, think like a grower. Ask yourself honestly: am I being paid what I'm worth? Is there a skill, certification, or move I could make to increase my income? Your salary is not a fixed number handed down from the sky — it is negotiable, it is growable, and YOU are responsible for growing it.

Third, think about multiple streams. I'm not saying go build five businesses tonight. But I am saying that one source of income is fragile. Whether it's a side project, freelance work, rental income, or a part-time hustle — a second stream of income changes your financial life faster than almost anything else.

The goal here is simple: earn more, intentionally. Every dollar of additional income that you direct toward your goals is a dollar that changes your future. Find a better job. Find a side hustle. Learn a new skill. Improve yourself. Start a business. Develop a passive income stream. Set a goal to add $10,000 to $20,000 to your paycheck this year. Keep that up for 5 years and you've added $50,000 to $100,000 per year in new income. When you go to work, you get to decide how much you make. Do you want to make $50,000 per year or $250,000 per year? It's up to you. Same work. Different amount of money.

PRINCIPLE 2: CONTROL YOUR SPEND SPENDING. KEEP YOUR EXPENSES LOW.

Now let's talk about spending — because this is where most people's financial plans fall completely apart.

I am not here to tell you to stop drinking coffee or cancel every subscription you love. That kind of advice is insulting and it only slightly adjusts the problem. What I AM going to tell you is this: you need to know where your money is going.

Here's the framework I love: Lower your Expenses. Figure out what you need to live on. No waste. Food. Housing. Electricity. Water. Phone. Gas. The basics. This is the foundation and it's the lowest amount of money you need to live every month.

The bottom line? Spend less than you earn. Every. Single. Month. It sounds simple because it is simple. The hard part is the discipline — but that discipline is what separates people who wish for wealth from people who actually build it.

PRINCIPLE 3: what do you do with DEBT? CONSUMER DEBT VS. INVESTOR DEBT

Okay, this one is big. This is the one that changes how you think about debt forever.

I've hated debt since I was 25. Once I figured out I was broke, I set a goal to get rid of my debt as fast as possible. It took me about 16 months. My wife and I haven't had a credit card since around 2000. We found one hiding in a folder. In reality, we haven't used a credit card since 1998 when we were married. Wow. I just thought of that. I've been married 28 years without using a credit card!

Now there are two kinds of debt — and they are not the same animal.

CONSUMER DEBT is the wealth killer. This is your credit card balances, car loans on vehicles you couldn't afford, personal loans for things that lost value the moment you bought them. Consumer debt costs you money and gives you nothing back. That 22% interest rate on your credit card? That is a guaranteed 22% LOSS on your money every single year. There is no investment that reliably beats that. Eliminating consumer debt is one of the highest-return financial moves you can make — full stop.

Attack it aggressively. Pick your method — avalanche (highest interest first) or snowball (smallest balance first) — and go after it like your financial life depends on it. Because it does. Picking up a 0% interest credit card and swapping balances is a good way to manage your debt while you pay it down. Better to pay off your debt at 0% than at 22%!

INVESTOR DEBT, on the other hand, is a tool. This is borrowing money to acquire an asset that generates income or grows in value. A mortgage on a rental property. A business loan that funds something that pays you back. Smart, calculated leverage that an asset services. Used correctly, investor debt can accelerate your wealth-building significantly.

The mindset shift I want you to make is this: debt is not simply "bad." The TYPE of debt and what it's DOING for you — or TO you — is what matters.

Get aggressive about eliminating consumer debt. Be strategic and thoughtful about investor debt. That distinction alone will put you light years ahead of most people. Both kinds of debt carries risk. A lot of people who use "investor debt" over leverage. They don't have a good grasp on the risk. They leverage too much and something in their model or lives goes wrong. They can't pay their debt. Things collapse, and they lose everything. It happens a lot. It 2008-2009, it happened all over the country. In 2020, it happened again. The government put a hold on rental payments. A lot of properties had to go years without receiving a rent payment. That's not good!

If you are going to leverage investor debt, understand the risks. Establish sufficient cash reserves to carry you through the hard times. Keep your debt ratios limited. Some people try 80-90% leverage. I personally like 50% leverage. Buy a property with 50% cash. Leverage 50%. Give yourself some more monthly cash flow.

PRINCIPLE 4: WEALTH MONEY. SAVE AND INVEST AGGRESSIVELY.

If you want to build wealth, you have to learn this principle. This is where I get excited. This is where your money finally starts working for YOU instead of the other way around.

Wealth is not just a big income. Plenty of high earners are broke. Wealth is assets — things that produce income or grow in value over time. And the most powerful force in building wealth is one that Albert Einstein reportedly called the eighth wonder of the world: compound interest.

When you invest and let your returns generate their own returns, your money starts to snowball. Slowly at first. Then faster. Then it becomes unstoppable. But here's the catch — it only works if you START. And the earlier you start, the more dramatic the results.

Here are a few things you can do.

Start with your workplace retirement account. If your employer matches contributions, that is a 50% to 100% instant return on your money...immediately! There is nothing else on earth that does that. Contribute at minimum enough to capture every dollar of that match. If you're leaving that on the table, you are literally giving away free money.

Then, open a Roth IRA. Tax-free growth. Tax-free withdrawals in retirement. One of the greatest wealth-building vehicles available to everyday Americans. Use it.

After you get those basics in place, you can go a lot of directions. You can build a taxable investment account. Index funds. Low cost. Broad diversification. You don't need to pick stocks. You don't need a hot tip. You need to consistently invest in the overall market and let time do its work.

Real estate is another powerful vehicle — whether owning your home, rental properties, REITs (real estate investment trusts you can own like a stock) or real estate syndication, or fractional ownership with friends and family. Explore what fits your situation.

Whatever you invest in, do as much as you can. Don't do that 15% that financial advisors recommend. Shoot for 30-50% of you income going into your investments. Invest aggressively. Get your money working for you instead of you just working for money.

PRINCIPLE 5: review your progress and plan annually

You would not run a business without reviewing the numbers. You would not drive across the country without checking the map. Your financial life deserves the same attention.

Once a year — I do mine between November to January, but pick a time that works for you — sit down and do a full financial review. Here's what you cover:

INCOME: Did I earn what I planned? What's my strategy to earn more this year than last year?

SPENDING: Where did my money actually go? Am I happy with those choices? Where can I tighten up?

DEBT: What did I pay off? What do I still owe? What's my payoff timeline? If you're still in debt, when can you have everything paid off? Being debt free is pretty sweet! No credit cards. Paid off house. It's amazing!

YOUR NET WORTH: Add up everything you own (assets) and subtract everything you owe (liabilities). This is your scoreboard. Track it every year. Watching this number grow is one of the most motivating things you will ever experience.

INVESTMENTS: Are my accounts on track? Am I contributing as much as I should? Do I need to rebalance? Am I getting the returns I want from my investments? Do I have any underperforming areas in my investment plan?

GOALS: What did I accomplish last year? What are my top 3 financial goals for this year? What specific actions am I committing to?

That's it. One focused review, once a year, and you will have more clarity and control over your financial life than 90% of the people around you.

it's time to GO BUILD SOMETHING

Here's what I want to leave you with.

Getting money right is not complicated. It is not reserved for people with finance degrees or six-figure salaries. It is available to YOU — right now, with the income you have today, starting with the very next dollar that hits your account.

Earn intentionally. Spend purposefully. Destroy consumer debt. Build investor debt wisely. Invest consistently. Review your results every year and adjust.

That's the framework. Simple, proven, and powerful.

Now, I've learned something very important. At 25, I set a goal to be a millionaire by age 25. Pretty big goal. Once I hit my goal, I realized something. Becoming a millionaire is just a milestone. It's just the starting point to real wealth, but the average person won't even hit the first milestone!

Once you become a millionaire, it is inevitable that you will become a multi-millionaire. Money is just a tool. The better you learn to use and manage the tool, the more money you can grow and the more wealth you can have. And once you have that wealth, you can give it a purpose and have HUGE impact on the people around you. So, go build some wealth and GIVE IT A PURPOSE!