What Should You Spend Money On?
Why does it matter what we spend on? I believe it matters because what we spend on directly affects our wealth. I help people build wealth so they can stop living in scarcity and instead focus on being the best version of themselves. We can spend on things that help us do that or we can spend on things that harm our ability to do that. Growing up, I had no idea what to spend money on. I’m going to share my experience with learning how to spend money so that my story can be an example of how to control your finances.
My first purchase. I’ll be honest, it was candy. As a kid, I remember the few times I would get money, I would buy candy. Why? Because it made me happy! It felt good so I did it. Granted, I was only like 3 or 4 so that was pretty much how I operated. I can remember walking to the counter with my dad, putting my coins on the counter, and expecting that there was enough there to get me some candy. I understood nothing about the transaction, but I knew if I did this then I would get that. The problem with candy was that it was gone as soon as I ate it and I wasn’t the kid that saved things or prolonged pleasurable experiences (I’m still not that kid). Why am I talking about buying candy as a 3 year old? Because a majority of us still spend our money this way. We are uneducated and seeking pleasure so we go all in on feeling good, hoping we have enough to make it, and immediately the experience is over and we are broke and wanting more.
Basketball apparel. In my pre-teen years I took a strong interest in sports. In fact, I would say I was obsessed. Basketball was my game. I knew everything about everybody. I was earning more money too, from the ages of 10 to about 14. I would work for my dad every week in his business and once per year I would go work at my sister’s ranch. I was also starting to get larger checks for Christmas and my Birthday. At this point in time, everything I made went towards something basketball related. If it was smaller amounts, I would use it to buy basketball cards. If it was $30 or more I’d buy an NBA jersey (usually Shaq or Lebron), and if I had $100 or more I would buy basketball shoes (Nike’s and Jordan’s only). This was a different kind of happiness than candy. It was a happiness that came from mastery, rather than a quick pleasure moment. There was one thing in common though, after I purchased the items I was broke again. Basketball never made me a dime, just like candy never made me a dime.
Bodybuilding. A little known fact about myself is that I was a competitive bodybuilder from age 17-21. In 2010 I was Junior Mr. Anchorage. I loved bodybuilding. I loved it more than basketball. In fact, for that period of time, everything I made went to bodybuilding. I managed to be the head personal trainer at a location of the largest gym chain in Alaska at the age of 19. For a 19 year old I was making what I considered to be good money. All of it went to working out, supplements, workout apparel, a professional nutrition coach, and competing in bodybuilding shows. Much of who I am today comes from the person I created when I was bodybuilding. I spent thousands of dollars per month on this for 4 years. This was more than mastery of a subject, this created a happiness that can only be described as mastery of self. I went from being a skinny 145 lb 17 year old to being a 215 lb 21 year old who could lift just about anything in the gym. I was still broke though. I had a moment one month where I couldn’t pay my rent and when my landlord asked where my money went I had to tell her it went to food and supplements. I had mastery over myself, but I still had no money.
Investing in myself. At age 21 I began to get serious. I had enough moments to wake me up about being serious with my money. In fact, the reason I had to stop body building is that my wife and I were homeless and still buying workout supplements and buying diet food. I realized that I was causing the mess. I got into business and got serious and my first investment was audible.com. I would buy 1 book for $15, listen to it, and then manipulate their return policy to return the book for 3 others. Although this was stealing, my income was improving and so was my mindset. I went from that to investing $997 in sales training. My income went up again. The same level of pleasure, mastery of a subject, and mastery of self were there, but this time I was actually making money. I went from spending $997 on sales training to spending $4,000 on personal development. Then another $5,000. Then I signed a $70,000 marketing agreement to grow my business. The result? I kept making more and more money. Over the last 26 years of my life I have learned that I am my best investment. You are your best investment.
Spend your money mastering a subject that makes you happy and then spend the rest of your money developing yourself and mastering yourself.
This is the key to building wealth.
Now, this is what I do as a business. I create a plan and coach my clients through building wealth so that they can end poverty in their own lives and own their potential. Too many people spend money on “candy” getting nothing but short term happiness. The majority of the remainder of the population spend their money mastering things that will never make them wealthy (residential real estate, tv sitcoms, news, politics). A very small percentage invest in themselves. I help you invest in yourself because that small sliver of people that do is the same small sliver that has all the money. I want to offer you the exact program I began with when I got serious about my development. Click here to get started.
Own Your Potential,
Jerry Fetta
Grant Cardone Certified Coach
Jerry Fetta helps his clients make money, keep it, and multiply it.
He believes everyone should own their potential. He believes you were not created to spend 40+ hours per week serving the 40-year-to-life sentence trading your precious time for money just to live in mediocrity.
However, the truth is that time and money must be exchanged. It just doesn’t need to be you making the exchange.
Jerry helps his clients create wealth that exchanges time and money on their behalf.
His clients see a 30% increase in income, a guaranteed increase in savings rate, and 8-12% fixed annual returns on their assets in the 1st 90 days of working with him.
To get started, go to www.WealthDynamX.com/potential
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Great personal testimony Jerry. The candy, basketball, and bodybuilding example were great. We all work hard chasing pleasure and then it's gone. We have to have a wealth plan that sets up our future. I'm glad you realized this at 21 and after being homeless. I really like your content, keep it up. See you at the top.