Ask MB

STOP Saving Money If You Want To Get Rich… Do This Instead!


Do you want to buy that dream home, car, device, vacation or maybe something else… and are you working hard trying to save money, but due to some reason you have very less at the end of the month and realize that ‘saving money’ is really not working.

Today’s blog video question comes from Kuwait…

Question: “Me and my husband are working hard so that we may buy our own house In india, once that is done vll settle in India. But the problem is we cannot save money. We read a lot about saving money, but none have worked because we try to save one month and in another month something happens wherein all savings are gone, please help."

I explain why saving money is not a good strategy for financial freedom in today’s economy.

In fact people who have the mindset of saving sometimes suffer the most.

I have shared 3 books that you can starts reading immediately for financial abundance.

Book # 1: Think and Grow Rich - by Napoleon Hill
Book # 2: Rich Dad, Poor Dad - by Robert Kiyosaki
Book # 3: Be Obsessed or Be Average - by Grant Cardone

These are the same books that completely transformed the way I think and make money.

Only 5% of people will actually take action… and the remaining will just wish and keep working hard.

Do you save money and what are your thoughts on investing in yourself and making more money rather than saving.

Stay Alive! Stay Fearless!
Dream BIG, Stay Strong.

- Murtaza


Today's question comes from Kuwait.

I and my husband are working hard to be able to save to buy a house and settle in India. We haven't been able to save money. We read a lot about saving money, but none of them have worked. So we save in a month and something happens in the next month where all savings are gone.'

I would like to congratulate you for having a dream and working hard to achieve it. You're far better from people who don't have a dream at all.

Rich people or whoever has earned money hasn't done so by saving money. Saving money is the old way of thinking feeling and achieving. You cannot really save money and achieve higher goals and get rich.

Saving money comes by reducing expenses. Doing that puts your psychological state away from being Alive and Fearless. You are upset and aren't able to do what you want to do.

So what do you do? The solution is the new way of thinking feeling and achieving. Make more money. You have to focus on making more money.

So how would be your question? Well whatever you want to buy, look at budgets. Understand the amount that you need, what you have today and the gap. With monthly savings, do you think you can reach that number and buy your dream house, car or vacation? Think numbers, think real.

Making more money. The abundance of money. How do I get rich and make more money? Expenses are high, and you need to spend them for survival.

So what I am going to share with you, only 5 % people use these strategies. Because it's the 5% hold the 95% of the wealth and they keep using these strategies over and over again.

The strategy is to invest in yourself, your mind, your education and skills, networking, getting more exposure to people who are already rich and have a dream and are working towards achieving it.

So whatever you make, 20% of it should be kept aside to hone your skills, reading books, attending seminars, exposing yourself to an environment where you can grow.

Get a job or do a business where you learn and grow. Make yourself more valuable. Work where you can grow. If you don't make yourself more valuable, you cannot earn more money.

So the book I would suggest is Napoleon Hill's Think and Grow Rich. That book completely altered my way looking at money, it's a legendary book. Read it not once but 5 times and apply. So these are strategies used by people who have not only achieved a lot of wealth but also contributed and impacted in the world.

Another book, is by Robert Kiyosaki, Rich Dad Poor Dad. He shares how he grew from a middleclass family to making the money he is making today and the assets he owns.

My current favorite is Grant Cardone. Follow him and get his book, Be Obsessed or Be Average.

So read these books not once but again and again. Once you do that, you will have invested in yourself, learnt the tools, grown your mindset and you will not want to save money, but make more money. You will start thinking and feeling differently and you will take action on achieving whatever you want.

Stay Alive, Stay Fearless.
Dream Big. Stay Strong.

Stay tuned for the next video. Thank you!