3 Ways to Save & Create Money – Episode 421

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[00:00] Hello, partners. Today, we’re going to be covering three ways to save money versus three ways to create money. I wish we had game show music because then I’d have it come in right now and then we’d be talking. Then you’d be the host walking down the platforms. That’s how I picture it, Kim. I love it. I can do that. So we have Miss Vanna White, Kim Butler here with us right now. So I think it’s first, as we talk about saving versus creating, those come from two different worlds out there. You’ve got the savers out there, and I’m not discounting saving by any means, but the people that focus so much on the savings often miss out on the creation. And I remember early in my business career, I was at a seminar, and I’m going to take you back to this.

[00:58] This was so cool, Kim. We were doing this exercise, and the leader that was leading our group, he picked one person and pushed her off to the side, and he said to us, this is what we’re going to do. He goes, I’ve got a bunch of money in my hand, bills in his hand, $20 bills. And he goes, I’m going to wave it in the air, but what I’m going to do is I’m going to be dumping coins on the ground, and I’m going to tell her she has 30 seconds to pick up all the coins, all the money that she wants. And so she comes back over. He goes, I’m going to start the clock. You have 30 seconds to pick up all the money you want. Go. She’s on the floor, scrambling, picking up quarters, pennies, dimes, nickels, and he’s just sitting there a couple of feet above her head,

[01:49] just waving the bills. And that’s savings versus creation. What a great pictorial for our brains. And we could add to it. I don’t know the exact numbers, but the quote of if Bill Gates stops to pick up a quarter, it costs him $200,000 or I don’t know what the number is. Maybe it was just 200. I have no idea. Anyway, an instructive point for sure. And it’s so in line with what we are recommending to our clients all the time, which is automate your savings. Think of saving as a verb. You know, of course, there’s savings as a noun, which is your emergency opportunity fund that you have stored ideally in the life insurance industry. And if not, at least you have one stored somewhere. And just the conscious acknowledgement that that can be totally automated and is not about

[02:48] budgeting. I think there’s so much financial stuff out there about budgeting, which just flat out does not work. And one of the ways to create, so we’ll make good on our promise here, three ways to save and three ways to create, is to make savings automated and set it up in such a way that you can be grateful for it all the time. Thinking back to the last podcast from a week ago that we did on the business, I just said to Todd, holy cow, we need to be so much more grateful for our business and the resources that it provides us because it enables us to do things that will solve problems so easily and simply that other people might not be able to do or have in their lives. And we need to be more grateful for that. And so, creation and gratitude,

[03:43] I believe, go together hand in hand. You can’t be grateful if you’re not creating and you definitely can’t be creating if you’re not grateful. And so, this is a way. Let’s just put the stake in the ground and say this is the first way to create, is to be grateful. Yeah, I totally agree that. And I’m starting to scratch out a list here on my notepad. So, three ways to save. First is automate. Yes. I’m going to put in a second one, which is, and we’ve talked about this before, life insurance, the forced savings account. Yes. And it is automatable. And so, you definitely get a win-win-win there. You win because you develop that emergency opportunity fund. And then you win again because you keep funding it on an automated basis. And then you win again because you get

[04:41] to borrow against the opportunity side of it and go do whatever your opportunity is. So, yeah, I totally agree. And then back on the creation side, in a way, that one crosses over because having an opportunity fund, I had a client say it well today, creates a good financial base. And we’ve used the term foundation for a lot of that language, but creation is so much easier when you have a good financial base. Gratitude, frankly, is so much easier when you have a good financial base because you are able to sleep at night and you’re not constantly focused on every little single thing. And it’s so much better of a mindset than back to your story of a couple podcasts ago with your friend that’s turning off or unplugging all the electrical equipment in his home to save $5 a month or

[05:32] whatever it is. It’s just elevating our focus so that we get better results. Yes. Okay. So, I have a creation one, but first, I’m going to jump over to a savings one. A way to save is to, one, look at some of the expenses that you have that are unnecessary. And I wouldn’t perseverate on this personally. It’s not something I’d do daily or weekly, probably not even monthly. It’d probably be more like quarterly. And having a good bookkeeper like Carrie or someone else, who Kim’s mentioned before, is very helpful. However, your time means something. So, you can hire services like Magic. It’s called Get Magic. And they can go and negotiate with your cable company, your phone bill or all those things.

[06:21] That’s really helpful. That’s a savings that you don’t have to do. Now, going over to creation, here is one that made me think, which is having your antennas up. And I’ll give a quick, quick story. Last week, I went into a thrift shop with my daughter because we were looking for this big pot for camping. And if you’re going to take it camping, it’s just going to get dirty and messed up anyway. So, why not go to a thrift store? You know what I mean? And we’re in there and I see a gentleman that grabbed a board game and I chatted with him and he’s kind of had this mischievous, happy smile on his face. And I see him pull out his phone and looks it up. And the price tag was $4.99. And he goes, I can sell this one for $74.99. And I looked and I go, that is awesome.

[07:23] Interesting. So, he created money, little side hustle money that he did on the side because his antennas were up. I thought it was incredible. I love it. Well, that’s such a great analogy that could be used in so many different ways. Maybe it’s a literal physical thing like that. Maybe it’s some time spent mentally that would create something of value. And just having that mindset opens up so many doors that we could just be walking right by if we didn’t have the mindset. Absolutely. Kim, can you give us one more creation of ways to create money that will help our listeners? I want to be clear that this isn’t the same as what I was saying earlier because it could fall into that category for sure. But it is the appreciation of things because what we appreciate

[08:20] appreciates. And when we’re creating good in the world, when we’re being of service, that is a method of appreciation. It causes our own lives to appreciate because we are using our talents, our gifts that God gave us. And it enables us then to provide those to somebody else that have maybe a need for those gifts and talents. And we just never know what’s going to become created out of that. And with that, you get the one times three, or you get the one plus one equals 11, and a formation of that multiplier effect where you take a step, somebody else takes a step. And then those two steps, literally, if you look at a one and a one together, obviously they are the number 11. And I just love that proof of the multiplier impact of what creating does. Put your good out there.

[09:17] Do not hold back. Do not save it for a rainy day. Put it out there and see what becomes of it as you combine with others that are also doing that and looking at life with that perspective. Oh, love, love that. That’s so good. And, you know, Kim, you actually practice what you preach. You just wrote another book recently called Perpetual Wealth, and it covers principles, what you’re talking about here. And you honed in your craft of writing, your ability to work with others to convey this message and to be able to help families out there. And it’s manifested in a beautiful hard bound book or an audio book, if you listeners want to hear it that way. And so you’re actually doing it. You’re creating. It’s wonderful.

[10:09] Well, and it’s such a joy to do. That’s the most important thing. And I’m not saying that’s a joy 100% of the time. Don’t get me wrong. There are challenges. And just like the couple that sat and watched movies all day, not being challenged, the challenges are good. Also, we may not know it at the time, but looking back, we can see the good and having that long term perspective, that lens of a lifetime and possibly even a next generation, which is what the book Perpetual Wealth is all about, enables a much broader perspective on that kind of thing. Oh, I love it. Listeners, if this doesn’t get you fired up, I don’t know what will. I hope you go out and create more wealth and more prosperity in your life. We want to thank you

[10:59] for being a part of this show. Really, we look at the analytics and we see you throughout the country, throughout the world, and we’re so grateful for each and every one of you. And we really want to extend that warm welcome. If you do have any listener questions you’d like on the podcast, please submit those to hello at partnersforprosperity.com. Thank you. Visit us at partnersforprosperity.com. If you liked this episode, make sure you subscribe and leave a review.