Tim-Sales'-Video-_What-The-Wealthy-Buy-On-Payday_-20

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Tim-Sales'-Video-_What-The-Wealthy-Buy-On-Payday_-20

  1. 1. Tim Sales video "What the Wealthy Buy on Payday" illustrates the difference betweenthe poor, middle class and wealthy in termsof what they typically purchase on payday.Lancaster Payday Loans
  2. 2. Lancaster Payday Loans He begins the discussion with a definitionof the terminology used in the video Income--money brought inExpenses--money that is spent Assets--something that pays you(differing from the accounting terminology) Liabilities--somethingthat costs you He goes on to discuss that a home could be either anasset or a liability It is a liability if if costs you each month as in amortgage or renting as a tenant It is an asset if you own the houseand you are the landlord and collect rent The social classdiscussion begins with the Poor Sales says the poor buy "stuff" onpayday "Stuff" is inexpensive things people buy that they dont needto survive
  3. 3. Their income on payday goes out to the expense column to buy the"stuff" They justify this expense by saying it costs so little which istrue but it also doesnt pay you either Sales continues thediscussion with the Middle Class He says that society considers themiddle class rich and that they make six figures annually The middleclass buys liabilities on payday These liabilities become expenses
  4. 4. They include cars, boats, planes and credit card debt He uses theexample of a couple bringing in a monthly paycheck of $15000 Theyspend one half of their check on expenses and the other half $7000as a down payment on a new car Next month, that new carbecomes more expense The car payment, insurance, gas, wear andtear all contribute to expenses Eventually the expenses become thesame as the income
  5. 5. The money in goes right back out again Sales says that the middleclass enters a stressful, vicious circle Their income is dependent ontheir own effort If they are not working they are not earning Theyexchange their knowledge and expertise for someone elses moneyThe Wealthy buy assets on payday
  6. 6. Those assets earn more income Assets include: Investments:Stocks, Bonds, Real Estate; Education: Pays in added skills andabilities; and Businesses: Particularly businesses that allow you tocreate passive income Sales uses the example of Warren BuffettOne of his first businesses was putting pinball machines in BarberShops He saved the profits from that first pinball machine to buyanother pinball machine that he put in another barber shop Heinvested his profits in something else that would provide a profit
  7. 7. Direct selling, network marketing and multi-level marketing are allbusinesses that have an option to pay you with passive incomeThere are many choices available You do have to be open tohearing about these businesses And, you should do your researchso that you are sure of your decision Tim Sales concludes his videowith the formula for wealth The wealthy buy assets that earn incomeand they use that income to buy more assets that earn income
  8. 8. This video is an excellent illustration for anyone considering anetwork marketing, direct selling, or multi-level marketing business Itprovides a clear and concise plan for anyone from any social class toachieve wealth Tim Sales is the man behind Brilliant ExchangeThe website is brilliantexchange com Video Source: Youtube
  9. 9. Lancaster Payday Loans

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